Mercantile Bank sees 33% fall in profit

Profits of Mercantile Bank fell 33 percent year-on-year to around Tk 233 crore in the first nine months of the current calendar year, according to a company disclosure.

As such, the bank's earnings per share in the July-September period plunged 22 percent year-on-year to Tk 2.11.

Similarly, the bank's net operating cash flow per share declined 77 percent at the same time.

Mercantile Bank said its earnings per share decreased due to profit before provision while its cash flow decreased due to increased investment in government securities.