Prime Bank posts 18pc profit growth in Q1

Staff Correspondent | Published: 22:09, Jun 04,2020


The net profit of Prime Bank increased by 18 per cent to Tk 51 crore in the January-March quarter of the year 2020 on solo basis.

Prime Bank managing director and chief executive officer Rahel Ahmed disclosed the quarterly report in an online briefing on Thursday.

The bank’s operating profit increased by 17 per cent to Tk 162 crore in the first quarter this year against Tk 139 crore in the same period last year.

Earnings per share of the bank increased to Tk 0.45 in the first quarter this year against Tk 0.38 in the corresponding period last year. The net asset value per share also increased to Tk 24.11 in the January-March quarter against Tk 23.50 in the same period a year ago.

Rahel Ahmed said, ‘Prime Bank has fared reasonably well in the first quarter of 2020 against the backdrop of COVID-19 pandemic that slowed down business and economic activities.’

‘At the time of crisis, we have put highest priority on health safety and wellbeing of our employees, customers and the community,’ he said.

‘We are confident to regain business momentum once the crisis in over,’ he added.

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