Mercantile Bank’s half-yearly profit soars, Union Bank’s declines
Mercantile Bank has posted a higher profit in the first half of 2022 while its rival Union Bank has witnessed a decline.
According to its financial disclosure on stock exchanges on Tuesday, Mercantile Bank's consolidated earnings per share (EPS) has increased by 15% compared to the corresponding period of last year.
In the January-July period, its consolidated EPS increased to Tk2.22 from Tk1.93 at the same time a year ago.
In the second quarter, the private sector lender's consolidated EPS rose to Tk1.36, a 3% increase from Tk1.32 in the corresponding time of 2021.
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On Tuesday, its shares closed at Tk13.70 each on stock exchanges.
Union Bank, which got listed on the capital market in January this year, has reported a 10% half-yearly decline in EPS.
In the first half of 2022, the EPS declined to Tk0.78 from Tk0.87 at the same time a year ago.
In the April-June quarter, its EPS fell by 29% to Tk0.44, which was Tk0.62 in the same period of 2021.
The share price of the bank closed at Tk9.40 each.
