BGIC posts 73% rise in quarterly profits
Its net asset value per share has increased slightly to Tk19.43, from Tk18.83 in the previous year
Bangladesh General Insurance Company (BGIC) has reported a 73% increase in profit in the January-March quarter of this year.
BGIC, the first general insurance company in the private sector of the country, posted a profit of Tk3.73 crore and its earnings per share (EPS) stood at Tk0.69.
The company, engaged in a range of non-life insurance businesses in Bangladesh, published its first quarter financial statements on Monday on both the local stock exchanges of Dhaka and Chittagong.
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According to the statements, their net profit was Tk2.16 crore and EPS Tk0.40, during the same period in 2020.
The net asset value (NAV) per share has increased slightly to Tk19.43, from Tk18.83 in the previous year.
But its net operating cash flow per share has decreased to Tk0.84, from Tk1.55 in the same time frame of the previous year.
BGIC was incorporated as a public limited company and started business in July 1985 with authorised capital of Tk10 crore. It listed on both local stock exchanges in 1989.
In 2020, Bangladesh General Insurance Company declared a 12% cash dividend for its shareholders.
Amid the novel coronavirus pandemic in 2020, its EPS fell slightly to Tk1.25, from Tk1.28 in the previous year.
In 2019, the insurer paid an 11% cash dividend to its shareholders.
