MTB’s profit grows 21%

Mutual Trust Bank (MTB) PLC said its profit soared 21 percent year-on-year in the financial year ending in December 2023.

The private commercial bank's earnings stood at Tk 286 crore in 2023, up from Tk 237 crore a year ago.

"Our profit has increased because of higher interest and investment income," said Syed Mahbubur Rahman, managing director & CEO of MTB.

The earnings per share of the bank grew to Tk 2.91 in the last financial year from Tk 2.41 the previous year, the MTB said in a price sensitive disclosure on the website of Dhaka Stock Exchange (DSE) today.

The private bank's net operating cash flow per share rose 24 percent year-on-year to Tk 15.59 at the end of 2023, said MTB, adding that its board recommended 10 percent cash dividend for shareholders for 2023.

Shares of the lender closed at Tk 14.8 today on the DSE, down 1.33 percent from the previous day.