Southeast Bank profit drops 70% in Jul-Sep quarter
During the quarter, its consolidated net profit was Tk34.94 crore, which was Tk115 crore a year ago at the same time
The logo of Southeast Bank PLC. Photo: Courtesy
Southeast Bank reported a 70% decline in its consolidated net profit for the July-September quarter of this year, primarily due to high provisions for classified loans, according to its unaudited financial statement.
During the quarter, its consolidated net profit was Tk34.94 crore, which was Tk115 crore a year ago at the same time.
In that quarter, it kept Tk226.90 crore as provision against classified loans, which was 10 times higher than the previous year at the same time.
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At the end of the first nine months of this year, the bank's consolidated net profit was Tk157 crore, which was 48% lower than the previous year at the same time.
Its consolidated earnings per share stood at Tk1.17 at the end of September.
