Mercantile Bank’s profit rises 16% in Q1
The private sector lender has approved a 15% dividend – 10% cash and 5% bonus – for its shareholders
Mercantile Bank, which got listed on the stock exchanges in 2004, has reported a 16% increase in profit in the first quarter of this year.
The private sector lender has approved a 15% dividend – 10% cash and 5% bonus – for its shareholders.
After a meeting of the board of directors on Thursday, the bank announced that its consolidated and solo earnings have increased in the first quarter compared to the same period of the previous year.
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In the January-March quarter, the bank said its consolidated earnings per share (EPS) stood at Tk0.64 and solo EPS at Tk0.56, which was Tk0.55 and Tk0.53 respectively in the same period of the previous year.
As per un-audited financials, in the first quarter, its consolidated net profit stood at Tk62.97 crore.
Its consolidated net asset value (NAV) stood at Tk2,284.33 crore, an increase from Tk2,270.29 crore in the previous year.
In 2020, the private commercial bank reported a profit of Tk223.13 crore, and the consolidated EPS stood at Tk2.26.
In 2019, its net profit was Tk222.25 crore and consolidated EPS was Tk2.26.
As of March 2021, of the total 984,016,217 shares, sponsors and directors held 37.69%, institutional investors 23.52%, foreign investors 4.08%, and general investors 34.71%.
