Mutual Trust Bank's profit jumps 8% in Q3

Mutual Trust Bank PLC (MTB) saw its profit increase in the third quarter of the current year, driven by an uptick in its operating profit.

The bank's profit was up over 8 percent year-on-year for the July-September quarter, with earnings rising to Tk 90.11 crore. 

Earnings per share (EPS) for the quarter climbed to Tk 0.92 from Tk 0.84 in the same period last year, according to the unaudited financial statements of the bank. 

MTB also registered a profit of Tk 203.74 crore, up 6 percent year-on-year, in the first nine months of this year. 

EPS during this period went up to Tk 2.07 from Tk 1.94 of the previous year.

"EPS has increased compared to the same period of last year due to the rise in profit before provision (operating profit)," the bank stated.

The private commercial lender's net operating cash flow per share (NOCFPS) also surged, reaching Tk 44.27 in the first nine months, up from Tk 22.42 the previous year. 

MTB cited a large gap between deposit collections and fund deployments for the rise in NOCFPS.