Prime Bank’s half-yearly profit jumps 49%

Prime Bank logged 49 percent growth in net profit after tax (NPAT) in the first half of the year that ended on June 30, 2024.

The standalone NPAT was recorded at Tk 329 crore compared to Tk 221 crore of the same period of the previous year.

Earnings per share stood at Tk 2.91 as against Tk 1.95 of the corresponding period, according to the bank's half-yearly unaudited financial statement released at its board meeting on Tuesday.

The net asset value (NAV) and net operating cash flow per share (NOCFPS) were recorded as Tk 32.05 and Tk 8.71 respectively in the first half of 2024 while it was Tk 28.69 and Tk 0.86 in the same period of 2023.

The bank's total assets stood at Tk 51,181 crore at the end of June 2024 and its loans and advances amounted to Tk 32,632 crore.

Prime Bank's capital to risk weighted assets ratio (CRAR) stood at 18.12 percent, which is one of the highest in the banking industry. The bank's NPL coverage ratio was recorded at 142 percent.

The bank is committed to providing innovative banking solutions, sustainable growth and to achieve excellence in customer service, the press release added.