Trust Bank's profit jumps 52% in Apr-Jun

Profits of Trust Bank rose sharply in the April-June period of the current calendar year, owing to higher income.

The lender registered profits of Tk 110.6 crore in the second quarter of 2023 while it was Tk 72.7 crore during the same period of the previous year, a 52 per cent rise year-on-year, according to the company's quarterly financial report.

At the same time, the bank's earnings per share rose to Tk 1.42 from Tk 0.94.

Established in 1999, Trust Bank saw its profits drop 72 per cent year-on-year to Tk 23 crore in the first quarter (January-March) of 2023.

Profits plunged in that quarter mainly due to lower net interest income and higher provisioning, it said.

The bank's net asset value per share stood at Tk 27.57 by the end of the first half of the year while it was Tk 25.92 by the end of 2022.

Overall, Trust Bank recorded profits of Tk 133.69 crore in the past six months compared to Tk 157 crore in the same period of the previous year.

The lender provided 10 per cent cash and 10 per cent stock dividends for 2022.

Stocks of Trust Bank closed at Tk 31.70 at the Dhaka Stock Exchange yesterday.