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Prime Bank PLC, one of the country’s leading commercial banks, announced a 45 per cent year-on-year increase in its net profit after tax (NPAT) for the third quarter ending 30 September 2024.
The bank reported a standalone NPAT of Tk 510 crore, up from Tk 351 crore in the same period last year. Earnings per share rose to Tk 4.51, compared to Tk 3.10 in the previous year.
The financial statements, adopted by the Board of Directors on 28 October 2024, also showed an increase in net asset value (NAV) per share to Tk 33.68 and net operating cash flow per share (NOCFPS) to Tk 2.30, compared to Tk 29.91 and Tk 4.27 respectively in Q3 2023.
Prime Bank’s total assets reached Tk 53,215 crore at the close of the quarter, with loans and advances amounting to Tk 32,389 crore. The bank also reported a capital to risk-weighted assets ratio (CRAR) of 18.26 per cent, among the highest in the industry, and a non-performing loan (NPL) coverage ratio of 137 per cent, reflecting its robust financial health.