First Security Islami Bank profits jump 74%
The First Security Islami Bank posted a 74% growth in profits in the first half of 2022, compared to the previous year's first half.
In January to June this year, the bank's consolidated net profit increased to Tk93.30 crore, from Tk53.49 crore in the same time last year in 2021.
Its consolidated earnings per share (EPS) stood at Tk0.87, which was Tk0.49 in January to June of 2021.
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The company said its EPS increased mainly due to a decline in interest rate paid out on deposits for 2022. Net investment income also increased Tk64.03 crore.
However, total operating income increased Tk129.41 crore compared to the previous year.
According to its unaudited half-yearly information, during the period, its income from investments in shares and securities increased 120% to Tk41.87 crore, from Tk19.04 crore for the same time frame in the previous year.
In the second quarter, from April to June, its profits rose 64% to Tk36.13 crore.
In this period, the bank saw a big jump in investment income in shares and securities.
During the period, its income from investment in shares and securities increased 192% to Tk22.87 crore.
At the same time in the previous year, it was Tk7.83 crore.
