Dhaka, Bangladesh (BBN)– Consolidated net profit of Prime Bank Limited jumped by nearly 28 per cent in the first half (H1) of the year 2019 as the private commercial bank (PCB) managed its balance sheet efficiently.
The second generation PCB has able to control its operational expenses effectively, an executive of the bank told the BBN in Dhaka.
He also said such strategies will be continued moving forward to make the improvement sustainable.
The consolidated profit rose to BDT 1.02 billion during the January-June period of this calendar year from BDT 798 million in the same period of 2018, according to the PCB’s latest statistics.
The bank announced its financial disclosures of the H1 of this year through arranging a progamme at its headquarters in Dhaka.
Local and foreign investment analysts and capital market experts took part at the event using internet via live broadcast.
Consolidated earnings per share (EPS) of the leading PCB rose by nearly 29 per cent to BDT 0.90 during the period under review from BDT 0.70 in the same period of the last year.
Consolidated NAV (net asset value) per share of the bank increased by more than 4.0 per cent to BDT 22.82 on June 30 from BDT 21.93 six months before, the bank’s data showed.
Rahel Ahmed, managing director (MD) and chief executive officer (CEO) discussed latest situation of the country’s overall banking sector along with future plan of his bank at the earnings disclosure session.
M Habibur Rahman Chowdhury, DMD and chief financial officer (CFO) of the PCB presented the financial performances at the programme.
DMDs Golam Rabbani, Touhidul Alam Khan and Faisal Rahman along with other senior officials of the bank also attended at the event.
Currently, the Prime Bank is operating its functions through 146 branches across the country. It started journey in 1995 with the firm commitment of excellent customer service with a difference.