Dutch Bangla Bank’s profit drops by 34% in April-June
During the April to June quarter, its net profit declined to Tk75.48 crore, down from Tk115 crore in the same period of 2023
A branch of Dutch Bangla Bank Limited. Picture: Collected
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A branch of Dutch Bangla Bank Limited. Picture: Collected
The year-on-year profit of Dutch-Bangla Bank, a private sector lender, dropped by 34% in the second quarter of 2024, according to its price-sensitive information (PSI).
During the April to June quarter, its net profit declined to Tk75.48 crore, down from Tk115 crore in the same period of 2023.
The earnings per share (EPS) of the bank stood at Tk0.86 in Q2 of 2024, while its net asset value (NAV) per share was Tk55.56.
However, in the first quarter (January-March) of 2024, the bank reported a slight increase in profit to Tk128 crore, compared to Tk125 crore in Q1 of 2023.
Meanwhile, for the first half of 2024, its profit declined by 15% to Tk203.63 crore, down from Tk240 crore in the first six months of 2023.
The net operating cash flow per share significantly increased to Tk42.60, up from Tk20.04 in the same period of the previous year.
In 2023, Dutch-Bangla Bank achieved a record profit, surpassing the Tk800 crore mark for the first time in its history.
According to its statements, the private sector lender posted a profit of Tk801 crore in 2023 marking a significant growth of 42% compared to the previous year.
Moreover, the bank paid a 17.50% cash dividend and a 17.50% stock dividend to its shareholders.
The bank’s shares closed at Tk47.80 each at the Dhaka Stock Exchange on Monday.
