Al-Arafah Islami Bank PLC reported a profit of Tk 259.2 million for the first quarter of 2024, a 21 percent increase from Tk 205.9 million in the same period last year. This profit growth reflects the private commercial lender’s strong performance.

According to the bank’s unaudited financial statements, this profit increase resulted in the bank’s earnings per share (EPS) rising to Tk 0.23 from Tk 0.19. 

The rise in EPS indicates an improvement in the bank’s profitability on a per-share basis, which is a positive sign for shareholders.

The bank also reported a significant growth in its net operating cash flow per share, which increased to Tk 8.61 from Tk 4.71. 

In addition, Al-Arafah Islami Bank’s net asset value (NAV) per share slightly increased, rising to Tk 22.86 from Tk 22.63. The NAV per share measures the company’s total value and is calculated by dividing the total net assets by the number of shares outstanding. 

A higher NAV per share suggests that the bank’s assets are growing relative to its liabilities.

Al-Arafah Islami Bank, established in 1995, has an authorized capital of Tk 15 billion. The bank operates through 211 branches across Bangladesh and provides a wide range of Islamic banking services to its customers.