Prime Bank’s profit jumps 50% in April-June

Prime Bank Ltd made a 50.75 per cent year-on-year higher profit of Tk 114.36 crore in the second quarter of 2023.

The profit stood at Tk 75.86 crore during the identical quarter of 2022.

Thus, the consolidated earnings per share of the private commercial lender were Tk 1.01 in April-June this year, up from Tk 0.67 in the same three-month last year.

Half-yearly profit surged to Tk 218.53 crore from Tk 180.03 crore in January-June of 2022, a year-on-year increase of 21.38 per cent. So, the consolidated EPS rose to Tk 1.93 from Tk 1.59.

The consolidated EPS increased due to a rise in net interest and investment incomes, said Prime Bank in a filing on the Dhaka Stock Exchange today.

Its consolidated net operating cash flow per share stood at a negative Tk 0.79 in January-June, which was Tk 1.26 in the similar half of 2022.

The consolidated NOCFPS was higher compared to the previous year because of the increase in deposits, said the filing.

The consolidated net asset value per share rose to Tk 28.56 on June 30 this year from Tk 26.19 on the same day last year.

Shares of Prime Bank were up 1.02 per cent at Tk 19.80 on the DSE today.