Mercantile Bank reports a massive 35% rise in profit in Q3

Mercantile Bank PLC reported a robust 35 percent increase in profits for the July-September 2024 quarter, making Tk 117.29 crore in the three months. 

Its consolidated earnings per share (EPS) rose to Tk 1.06 for the quarter, up from Tk 0.78 during the same period in 2023, according to a recent disclosure on the website of the Dhaka Stock Exchange\

Mercantile Bank attributed the surge in EPS to a rise in profit before provision.

The bank's consolidated EPS was Tk 3.04 for the January-September 2024 period. 

Its net operating cash flow per share climbed to Tk 7.21, which the bank attributed to improved cash flows from core operations.

Established in 1999, Mercantile Bank operates a substantial network nationwide, with 152 branches, 197 ATMs, and 188 agent banking outlets, as per its website.