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Prime Bank reports net profit of Tk 61.88cr in H1

Business Desk | Published: 22:43, Aug 08,2020

 
 

Prime Bank managing director and CEO Rahel Ahmed presents the bank’s half yearly financial results for 2020 at an earnings disclosure event organised virtually by the bank on August 3. Other senior officials of the bank also participated in the event. — New Age photo

Prime Bank reported a net profit of Tk 61.88 crore on solo basis for January-June 2020, which was Tk 99.27 crore in the corresponding period of last year, said a press release.

The bank organised its earnings disclosure event on August 3 which was broadcast live on its Facebook page.

The bank also reported an operating profit of Tk 248.16 crore in H1 2020 on solo basis, which was Tk 332.47 crore in the same period of last year.

Banks operating profit and net profit after tax in H1 2020 witnessed a drop of 25 per cent and 38 per cent respectively compared to the same period of 2019 due mainly to the impact of COVID-19 pandemic, a host of COVID-19 regulatory waivers on EMI, interest and fees and interest rate capping.

The bank reported EPS of Tk 0.55 for the half year ended on June 30, 2020 on solo basis, which was Tk 0.88 in the corresponding period of 2019.

Its net asset value per share on solo basis was Tk 24.21 as on June 30, 2020, which was Tk 22.75 in the same period a year ago.

The bank’s net operating cash flow per share on solo basis stood at Tk 0.75 on June 30, 2020 which was Tk 0.84 in the corresponding period of 2019.  

The bank’s managing director and CEO Rahel Ahmed and senior management officials presented the half yearly financial results of 2020.

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