Al-Arafah Islami Bank's profit drops 60% in first quarter
Al-Arafah Islami Bank's net profit has dropped over 60% in the first quarter of this year compared to the same period of the previous year.
During the January-March quarter of 2023, its earnings per share came down to Tk0.19 from Tk0.48.
The bank said in its statement that earnings per share have dropped due to a decrease in net investment income and an increase in operating expenses compared to the previous corresponding period.
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On Monday, its shares were traded at Tk25.30 each, which was 0.78% lower than the previous session, at the Dhaka Stock Exchange (DSE).
