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Prime Bank PLC has posted a 49 per cent net profit after tax (NPAT) growth in the first half of the year 2024.
The bank on Tuesday announced its half-yearly financial results for the period that ended on 30 June 2024, says a media release.
The board of directors of the bank adopted its half-yearly unaudited financial statements at its board meeting held yesterday (Tuesday).
The standalone NPAT was recorded at Tk 3.29 billion compared to Tk 2.21 billion in the same period of the previous year.
Earnings per share stood at Tk 2.91 as against Tk 1.95 in the corresponding period.
Net Asset Value (NAV) and Net Operating Cash Flow per share (NOCFPS) were recorded as Tk 32.05 and Tk 8.71 respectively in the first half of 2024 which was Tk 28.69 and Tk (0.86) in H1 2023.
The bank’s total assets stood at Tk 51.18 billion at the end of June 2024 and loans and advances of the private bank were Tk 32.63 billion.
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. Its NPL coverage ratio was recorded at 142 per cent.