Dhaka Bank, a private lender, has announced a 4 percent year-on-year increase in profit, reaching Tk 1.73 billion in 2023. This growth marks a steady rise from around Tk 1.66 billion in 2022, as stated in a recent press release from the bank.

The bank’s consolidated earnings per share (EPS) for the year ending in December last year stood at Tk 1.72, compared to Tk 1.65 for the preceding calendar year. Dhaka Bank attributes this rise in net profit to significant precautions taken in managing loans, advances, and taxes.

Furthermore, Dhaka Bank’s consolidated net asset value per share showed a positive trend, rising to Tk 22.26 in 2023 from Tk 21.37 in 2022. However, the net operating cash flow per share experienced a decline, plummeting to Tk 27.81 last year from Tk 11.43 in the negative in the preceding year.

In line with its financial performance, the bank’s board has recommended a 10 percent cash dividend for the year ending December 31, 2023.

The notable surge in net interest income contributed significantly to Dhaka Bank’s overall performance, registering a remarkable 97 percent year-on-year growth to Tk 6.71 billion in 2023, compared to Tk 3.40 billion in 2022. This substantial increase in net interest income drove the bank’s operating profit up 18 percent to Tk 125.62 crore.