IFIC Bank posts modest consolidated earnings in Q1 of 2021
Its solo EPS remained the same Tk0.37 in Q1 of 2021, as in Q1 of 2020
IFIC Bank posted a meagre 4.5% growth in its consolidated earnings per share (EPS) in the January to March quarter of this year, the same as in Q1, 2020.
The bank's consolidated EPS stood at Tk0.46 for the first quarter of 2021, which was Tk0.44 in the same quarter last year.
However, the listed commercial bank's solo EPS - which excludes the earnings of any subsidiary company - remained the same Tk0.37 in the January to March quarter of 2021, as in the same period of 2020.
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At the end of March 2021 though, IFIC Bank's solo net asset value (NAV) per share stood at Tk15.91, up from Tk15.56 at the same time a year ago.
The bank's consolidated NAV per share also rose to Tk17.57 at the end of March 2021 from Tk16.71 a year ago.
However, its net operating cash flow per share significantly fell to a negative figure in the first quarter of this year, which was positive in the same quarter of 2020.
According to a statement issued by the bank after its board meeting on Monday, the net operating cash flow went down because the bank's lending surpassed its deposits over the first three months of this year.
