SBAC Bank posts higher profit

Business Report :
South Bangla Agriculture & Commerce Bank Limited clocked a 9 per cent year-on-year increase in profit to Tk 59.34 crore in the financial year that ended on December 31.
It made a profit of Tk 54.39 crore in 2021.
Thus, the private commercial bank reported consolidated earnings per share of Tk 0.72 for 2022 against Tk 0.66 in 2021.
Its consolidated net asset value per share improved to Tk 13.27 in the last financial year from Tk 13.02 in 2021 while the consolidated net operating cash flow per share surged to Tk 3.02 from a negative Tk 4.38 during the period.
The board of directors of the bank has recommended a 3.50 per cent cash dividend for 2022, according to a filing on the Dhaka Stock Exchange on Thursday.