Pubali Bank’s profit grows 31% in H1
Its DSE shares closed slightly higher at Tk25.9 each yesterday compared to Monday’s trading session
Pubali Bank reported a 31% growth in profit in the January to June period of 2022 compared to the same six months of the previous year.
During the period, its net profit after tax increased to Tk242.53 crore from Tk185.27 crore in the first half (H1) of 2021.
Also, the bank's interest income increased significantly to Tk1,340.53 crore in H1 of 2022 from Tk1,107.25 crore in H1 of 2021.
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However, its net interest income declined to Tk166.03 crore year-on-year from Tk175.99 crore in the first half.
A bank's net interest income is the difference between the interest income it earns from its lending activities and the interest it pays to depositors.
Pubali Bank's investment, commission, exchange, and brokerage incomes also increased significantly in the first half of 2022 compared to the previous year.
In the second quarter alone, the bank registered a 42% jump in profit to Tk119.81 crore, year-on-year, thanks to a surge in investment and other incomes.
But its net interest income in April to June quarter has also declined and stood at Tk56.32 crore, which was Tk75.61 crore in the second quarter of 2021.
Pubali Bank was listed on the Dhaka Stock Exchange (DSE) in 1984.
In 2021, the bank made a profit of Tk435.17 crore and paid a 12.5% cash dividend to the shareholders.
On Tuesday, the bank's shares closed slightly higher at Tk25.9 each at the DSE compared to the previous trading session.
