Prime Bank’s NPAT jumped 49pc in H1 2024

Business Report :

Prime Bank PLC., a leading commercial Bank in the country announces its half yearly financial results for the period ended on 30 June 2024. The Board of Directors of the Bank adopted its half yearly un-audited Financial Statements at the Board Meeting held on Tuesday.
The Bank posted a 49 per cent Net Profit after Tax (NPAT) growth in the first half of the year 2024. The standalone NPAT was recorded at Tk 329 crore compared to Tk 221 crore of the same period of previous year. Earnings per share stood at Tk. 2.91 as against Tk. 1.95 of the corresponding period, reads a press release.
Net Asset Value (NAV) and Net Operating Cash Flow per share (NOCFPS) recorded as Tk. 32.05 and TK. 8.71 respectively in H1 2024 which was Tk. 28.69 and Tk. (0.86) in H1 2023.
Bank’s total assets stands at Tk. 51,181 crore at the end of June 2024 and Loans and advances of the Bank was Tk. 32,632 crore.
Prime Bank’s Capital to Risk Weighted Assets Ratio (CRAR) stood at 18.12 per cent which is one of the highest in the banking industry. Bank’s NPL coverage ratio was recorded at 142 per cent.
Bank is committed to providing innovative banking solutions, sustainable growth and to achieve the excellence in customer service.