Eastern Bank posts record Tk750cr profit in 2024

Business Desk :

Eastern Bank has achieved a historic milestone by reporting a standalone net profit of Tk750 crore in 2024 its highest ever.
The bank’s standalone profit surged by 23 per cent from Tk611 crore in 2023, driven by robust growth across core business segments.
However, losses of Tk90 crore from its subsidiaries slightly offset the gains, bringing its consolidated net profit to Tk660 crore – still a record high.
At the end of the last year, its consolidated earnings per share stood at Tk4.86, which was Tk4.51 a year ago.
Following the robust growth in profit, the bank increased the dividend recommendation. Its board declared a 35 per cent dividend for the last year, which will be the highest payout since 2020.
The dividend comprises 17.50 per cent cash and 17.50 per cent stock, reflecting the lender’s robust financial health and commitment to rewarding shareholders, according to its price-sensitive statement disclosed on the Dhaka Stock Exchange.
The bank had previously paid a 25 per cent dividend in 2023 that comprises 12.5 per cent cash and 12.5 per cent stock.
The private sector lender has fixed its annual general meeting on 21 May for approving the declared dividend and audited financial statement. Its record date is also fixed on 23 April this year.