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Four banks reveal Q1 reports with mixed earnings

Staff Correspondent
11 May 2023 00:00:00 | Update: 10 May 2023 23:08:33
Four banks reveal Q1 reports with mixed earnings

Four publicly traded private commercial banks on Wednesday published their financial reports for the first quarter of the year 2023.

The lenders who released their first quarterly financial statements yesterday are Eastern Bank, Exim Bank, Jamuna Bank, and The City Bank, as per separate disclosures available on the Dhaka Stock Exchange (DSE) website.

Of the lenders, Eastern Bank reported Tk 107.31 crore in net profit in the January-March quarter this year, down 9.9 per cent than the profit of Tk 119.11 crore in the same quarter last year.

As per its unaudited financial statements, the private commercial bank’s consolidated earnings per share dropped to Tk 1.00 for January-March quarter of 2023 from Tk 1.11 for the same quarter last year.

Its consolidated net operating cash flow per share (NOCFPS) stood at Tk 0.19 in Q1 of the current year, which was Tk 4.76 negative for the same quarter last year.

Meanwhile, Exim Bank posted Tk 20.26 crore in net profit in the January-March quarter of 2023, which was 44 per cent lower than the profit of Tk 36.18 crore in the same quarter of 2022.

According to its unaudited financial statements, the lender’s consolidated earnings per share decreased to Tk 0.14 for the first quarter of 2023 from Tk 0.25 for the same quarter last year.

The bank’s earnings decreased due mainly to an increase in provision for investments and other assets, the bank said in its financial report.

On the other hand, Jamuna Bank registered a slight profit rise of 3.5 per cent in Q1 of the current year on a year-on-year basis.

The lender’s net profit rose to Tk 133.36 crore in the first quarter of 2023 from the profit of Tk 128.87 crore in the January-March quarter last year.

Its consolidated earnings per share increased to Tk 1.78 for the January-March period of 2023 from Tk 1.72 for the same period last year.

The EPS increased due to a rise in net interest income as well as investment income, the bank said in the DSE filing.

Besides, The City Bank Ltd made a profit of Tk 88.84 crore in the January-March quarter of 2023, the same it had seen in the first quarter of 2022.

According to its unaudited financial statements, the bank’s consolidated earnings per share was Tk 0.74 for the January-March quarter of 2023, the same for the January-March quarter of 2022.

Its consolidated NOCFPS was Tk 10.71 negative for the first quarter this year, against Tk 6.71 for the same quarter last year.

 

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