Dhaka Bank Ltd, a prominent financial institution listed in 2000, has reported impressive financial results for the April-June quarter of 2023. According to their earnings note published on Tuesday, 1st June, the bank’s consolidated earnings per share (EPS) soared by a remarkable 31% year-on-year, reaching Tk 0.71. This surge in EPS was attributed to a significant increase in interest income and a reduction in provisions against loans during the said period. Notably, the lender’s half-yearly consolidated EPS for January-June 2023 also witnessed a robust growth of over 7%, rising to Tk 1.31 from Tk 1.22 (restated) for the same period in the preceding year.
Furthermore, Dhaka Bank’s consolidated net operating earnings per share for January-June 2023 stood at Tk 29.04, a stark improvement compared to Tk (16.80) (restated) for January-June 2022. This remarkable increase was attributed to a decline in disbursements of loans and advances during the current period, coupled with substantial rises in deposits and borrowings. The bank’s consolidated net asset value per share also showed promising growth, reaching Tk 22.05 as of June 30, 2023, compared to Tk. 20.91 (restated) on June 30, 2022. Moreover, for the year 2022, the bank distributed 6% cash dividends and 6% stock dividends. Despite the favorable financial performance, the bank’s stock has remained stagnant at Tk 12.50 over the past few months.
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