Prime Bank’s operating profit rises by 22% in 2019
The bank registered a net profit worth Tk200 crore in 2019 which was Tk219 crore in the previous year
The Prime Bank has registered an operating profit of Tk695 crore in the year 2019.
This earning is up 22 percent on a year-on-year basis as the bank made an operating profit of Tk572 crore in the previous year, said a media statement issued on Monday.
The bank also recorded a net profit worth Tk200 crore in 2019. The amount was Tk219 crore in 2018.
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The bank's earnings per share (EPS) stood at Tk1.77 for the year ended on December 31, 2019 which was Tk 1.93 in the previous year.
According to the media statement, the bank's net asset value (NAV) per share was Tk23.65 last year which was Tk23.12 a year back. Its net operating cash flow per share (NOCFPS) was Tk0.98 in 2019 which was negative Tk2.86 in the previous year.
The country's leading private commercial bank, listed with both Dhaka and Chattogram stock exchanges, organised its earnings disclosure event on Monday through a live event on its Facebook page.
Due to the outbreak of Covid-19 virus, the bank held the event through virtual media to maintain the social distancing.
The bank's Managing Director and Chief Executive Officer Rahel Ahmed and other high officials presented the financial results of 2019 and answered the questions thrown from the ends of local and foreign investment analysts, capital market experts and financial institution partners.
Among others from the bank, Deputy Managing Directors Mohammad Habibur Rahman Chowdhury, Md Touhidul Alam Khan, Faisal Rahman, Head of Consumer Banking ANM Mahfuz, Head of MSME Banking Syed M Omar Tayub, Head of TB, SFD and ID Shams Abdullah Muhaimin, COO Abdul Halim, Head of ICC Mohammad Jashim Uddin, and Head of Brand and Communications Nazmul Karim Chowdhury joined the event.
Commenting on the issue, Managing Director Rahel Ahmed said, Prime Bank has maintained consistency in delivering outstanding financial results in 2019, faring noticeably well in key financial parameters.
"It is encouraging to see that our emphasis on exploring new markets, product diversification, process simplification and technological innovation is bearing fruit," he said.
"The consistency in growth momentum, that too against a backdrop of reducing margins and difficult market conditions, keep us firmly on the path to become the best bank in the country," he added.
He also gratefully acknowledged the bank's valued customers, shareholders and stakeholders for their continued trusts and supports to move it forward.
