Business Report :
Premier Bank reported an 8 percent year-on-year profit of Tk 79.02 crore in the first quarter of 2024.
The profit stood at Tk 73.18 crore in the same quarter of the previous year.
Therefore, earnings per share rose to Tk 0.64 in January-March from Tk 0.59, according to its unaudited financial statement. Although the bank’s profit increased, it did not fare well in all indicators.
The net operating cash flow per share (NOCFPS) took a beating, slipping to Tk 16.40 in the negative, a massive fall from Tk 5.76 in the first quarter of 2023.
The private lender attributed a decline in deposits, a surge of loans, payments against borrowing from other banks and agents, and the rise in interest in cash payments for the slide in the NOCFPS.
Premier Bank’s net asset value stands at Tk 2,800 crore.
The bank began its journey in 1999 and was listed with the Dhaka Stock Exchange in 2007. Its paid-up capital is Tk 1,233 crore.
It has 136 branches, including 12 SME service centres and agricultural branches, 67 sub-branches, and 129 ATM booths.