Dhaka Bank’s profit jumps 31% in Q2

Dhaka Bank Limited's profit climbed more than 31 percent year-on-year to Tk 71.47 crore in the April-June quarter of 2023.

The private commercial lender made a profit of Tk 54.36 crore in the identical quarter of 2022.

Thus, the consolidated earnings per share rose to Tk 0.71 in April-June this year against Tk 0.54 in the same period of 2022, according to the unaudited financial statements

The EPS increased thanks to a rise in interest income and a decrease in provisions against loans and advances, said the bank in a filing on the Dhaka Stock Exchange.

The healthy profit in the second quarter raised earnings to Tk 131.86 crore in the first half against Tk 122.81 crore during the January-June of 2022, a year-on-year spike of 7.36 percent. So, the consolidated EPS went up to Tk 1.31 from Tk 1.22.

The consolidated net operating cash flow per share returned to positive territory to stand at Tk 29.04 in January-June against a negative Tk 16.80 in the similar half of 2022.

The NOCFPS increased due to a fall in disbursement of loans and a rise in deposits and borrowings, the filing said.

The consolidated net asset value per share rose to Tk 22.05 on June 30 this year from Tk 20.91 on the same day last year.

Shares of Dhaka Bank traded at Tk 12.50 on the DSE yesterday, unchanged from a day earlier.