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Company profile

DBBL witnesses 39.77pc net profit growth in 2017

Mohammad Mufazzal | Published: October 14, 2018 10:33:29 | Updated: October 24, 2018 14:18:19


Dutch-Bangla Bank Limited (DBBL) registered a growth of 39.77 per cent in net profit to Tk 2.46 billion in 2017 as compared to that of the previous year.

According to the DBBL, the bank's profitability rose moderately in 2017 due to its efforts to 'grow and diversify' its portfolio.

The bank also exhibited a steady growth in revenue earnings and deposits during last five years through effective operations.

The bank's net profit was Tk 2.0 billion in 2013, Tk 2.21 billion in 2014, Tk 3.02 billion in 2015, Tk 1.76 billion in 2016 and Tk 2.46 billion in 2017.

The company's total deposit was Tk 145.23 billion 2013, Tk 166.76 billion in 2014, Tk 186.76 billion in 2015, Tk 207.23 billion in 2016 and Tk 233.79 billion in 2017.

The bank's earnings per share (EPS) and net asset value (NAV) also rose moderately in 2017 compared to the previous year.

The bank reported its EPS of Tk 12.28, NAV per share of Tk 97.41 and NOCFPS of Tk 58.66 for the year ended on December 31, 2017 as against Tk 8.88, Tk 88.36 and Tk 24.57 respectively for the previous year.

The bank reported its consolidated EPS of Tk 4.93 for April-June 2018 as against Tk 4.18 for April-June 2017.

The bank's networks have been expanded through different and innovative modes of delivery channels.

The bank has the highest number of ATM booths across the country. The number of ATM booths was 2,454 in 2013, 2,705 in 2014, 3,588 in 2015, 4,331 in 2016 and 4,467 in 2017.

The bank's ratio of non-performing loans (NPLs) to total loans varied between 3.7 per cent and 5.2 per cent during 2013 to 2017.

The ratio of NPL to total loan was 3.9 per cent in 2013, 4.4 per cent in 2014, 3.7 per cent in 2015, 5.2 per cent in 2016 and 4.7 per cent in 2017.

The bank reported its total provisioning of Tk 1.03 billion in 2013, Tk 805.6 million in 2014, Tk 166.6 million in 2015, Tk 2.28 billion in 2016 and Tk 390.2 million in 2017.

The company's classified loans to total loan were 3.9 per cent in 2013, 4.4 per cent in 2014, 3.7 per cent in 2015, 5.2 per cent in 2016 and 4.7 per cent in 2017.

"During the year 2017, our focus and strategy was concentrated on sustainable long-term growth of business, better deposit and improving the quality of assets," the bank's chairman Sayem Ahmed said in the financial statement for the year ended on December 31, 2017.

He said that the bank also laid emphasis on rationalising the operating cost, improving operational efficiency and productivity of resources, better and faster customer service, expansion of branches and ATMs & Fast Track network," the chairman said.

Dutch-Bangla Bank, presently an 'A' category company, was listed with the stock exchanges in 2001.

The company's sponsor-directors hold 87 per cent shares, institutes 5.73 per cent, foreigners 0.06 per cent and general public 7.21 per cent as of August 31, 2018.

"Our effort brings very notable results. Our client base increased to 6.2 million," the bank's managing director Abul Kashem Md. Shirin said in the financial statement for the year ended on December 31, 2017.

He said the bank sets its priority to continue implementation of its growth strategy with particular emphasis on improving deposit, reducing cost of fund and strengthening overall risk management process.

"These initiatives will help the bank improve its business performances in all areas, bolster profits and ultimately create value for shareholders," Abul Kashem said.

"In a highly competitive market, we have been able to achieve 12.8 per cent growth in deposit mobilisation in 2017," the managing director said.

The company's share price closed at Tk 129.80 each on Thursday with a fall of 0.46 per cent.

mufazzal.fe@gmail.com

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