The Boards of Directors of 8 companies listed in the banking sector in the capital market have published unaudited financial reports for the third quarter (July-September, 2024) and nine months (January-September, 2024) of the current financial year. According to published reports, the company’s profit per share has increased in the nine-month quarter under discussion.
The banks are – Dutch-Bangla Bank PLC, The City Bank PLC, Dhaka Bank PLC, Midland Bank PLC, Trust Bank PLC, UCB Bank PLC, Al-Arafah Islami Bank and National Bank Limited.
On Wednesday (October 30), Dhaka and Chittagong Stock Exchange (DSE-CSE) informed this information.
It was disclosed after reviewing and approving the financial report of the third quarter of the current financial year in the meeting of the board of directors of the companies held earlier on Tuesday (October 29).
Dutch-Bangla Bank: In the third quarter of the current financial year, the consolidated profit per share of the company was Tk 0.38. The company’s profit per share was Rs 1.97 in the corresponding period of the previous financial year. Besides, the consolidated profit per share of the company for the nine months or three quarters of the current financial year was Tk 2.70. The company’s profit per share was Rs 4.71 in the corresponding period of the previous financial year. As of September 30, 2024, the company’s consolidated net asset value per share (NAVPS) stood at Tk 55.94.
City Bank: In the third quarter of the current financial year, the consolidated profit per share of the company was Tk 1.49. The company’s profit per share was Rs 1.05 in the corresponding period of the previous financial year
Besides, the consolidated profit per share of the company for the nine months or three quarters of the current financial year was Tk 3.35. The company’s profit per share was Rs 2.81 in the corresponding period of the previous financial year. As of September 30, 2024, the company’s consolidated net asset value per share (NAVPS) stood at Tk 29.91.
Dhaka Bank: In the third quarter of the current financial year, the consolidated profit per share of the company was Tk 0.25. The company’s profit per share was Rs 0.57 in the corresponding period of the previous financial year. Besides, the consolidated profit per share of the company for the nine months or three quarters of the current financial year was Tk 1.76. The company’s profit per share was Rs 1.88 in the corresponding period of the previous financial year. As of September 30, 2024, the company’s consolidated net asset value per share (NAVPS) stood at Tk 22.96.
Midland Bank: The company’s consolidated profit per share for the third quarter of the current financial year was Rs.0.09. The company’s profit per share was Rs 0.22 in the corresponding period of the previous financial year. Besides, the consolidated profit per share of the company for the nine months or three quarters of the current financial year was Tk 0.54. The company’s profit per share was Rs 0.58 in the corresponding period of the previous financial year. As of September 30, 2024, the company’s consolidated net asset value per share (NAVPS) stood at Tk 14.39.
Trust Bank: In the third quarter of the current financial year, the consolidated profit per share of the company was Tk 1.33. The company’s profit per share was Rs 1.29 in the corresponding period of the previous financial year. Besides, the consolidated profit per share of the company for the nine months or three quarters of the current financial year was Tk 2.86. The company’s profit per share was Rs 2.78 in the corresponding period of the previous financial year. As of September 30, 2024, the company’s consolidated net asset value per share (NAVPS) stood at Tk 26.67.
UCB Bank: In the third quarter of the current financial year, the consolidated profit per share of the company was Tk 0.66. In the corresponding period of the previous financial year, the profit per share of the company was Rs.0.51. Besides, the consolidated profit per share of the company for the nine months or three quarters of the current financial year was Tk 1.51. The company’s profit per share was Rs 1.14 in the corresponding period of the previous financial year. The company’s consolidated net asset value per share (NAVPS) stood at Rs 28.37 as on September 30, 2024.
Al-Arafah Islami Bank: In the third quarter of the current financial year, the company posted a consolidated loss per share of Tk (0.41). The company’s profit per share was Rs 0.39 in the corresponding period of the previous financial year. Besides, the consolidated profit per share of the company for the nine months or three quarters of the current financial year was Tk 0.57. The company’s profit per share was Rs 1.12 in the corresponding period of the previous financial year. As of September 30, 2024, the company’s consolidated net asset value per share (NAVPS) stood at Tk 21.17.
National Bank: The company posted a consolidated loss per share of Rs (2.17) in the third quarter of the current financial year. The company had a loss per share of Rs (1.55) in the corresponding period of the previous financial year. Besides, for the nine months or three quarters of the current financial year, the company had a consolidated loss per share of Rs. (5.49). The company had a loss per share of Rs (3.49) in the corresponding period of the previous financial year. The company’s consolidated net asset value per share (NAVPS) stood at Rs 1.86 as on September 30, 2024.
Time.news Interview: The Banking Sector’s Q3 Performance
Editor (E): Good day, and welcome to Time.news. Today, we’re diving into the recent performance of the banking sector in our capital markets, with a specific focus on the unaudited financial reports released for the third quarter of 2024. Joining us is renowned financial analyst, Dr. Saira Rahman, an expert in banking and finance. Thank you for being here, Dr. Rahman.
Dr. Rahman (R): Thank you for having me! I’m excited to discuss these latest developments.
E: Let’s start with the big picture. The financial reports for the third quarter from eight listed banks have shown an increase in profit per share compared to the previous year. What does this indicate about the overall health of the banking sector?
R: It’s a positive sign. An increase in profit per share suggests that these banks are either improving their operational efficiency or benefiting from better economic conditions. This not only enhances investor confidence but also indicates that the banks are capable of managing their resources effectively despite any economic challenges.
E: Absolutely. Among the banks, we have Dutch-Bangla Bank PLC showing a consolidated profit per share of Tk 0.38 in Q3, down from Tk 1.97 last year. What should we take away from this specific case?
R: The decline in Dutch-Bangla Bank’s profit per share should raise some eyebrows. While it’s common for fluctuations to occur, a drop of that magnitude could indicate operational challenges or increased competition. However, since their profit per share for the nine-month period was also lower than last year, it might suggest a longer-term trend that requires closer examination.
E: Moving on to City Bank, which reported a consolidated profit per share of Tk 1.49 compared to Tk 1.05 previously. What factors could be contributing to their success?
R: City Bank seems to be navigating the market effectively. Their strategic investments in technology and customer service could be paying off. The banking sector is increasingly moving towards digitalization, and banks that embrace this transformation often see improved customer engagement and revenues.
E: Dhaka Bank’s figures showed a slight decline as well, with a profit per share of Tk 0.25 down from Tk 0.57. What challenges might they be facing?
R: A decline like this could indicate a variety of issues, such as rising operational costs or loan defaults. It’s crucial for Dhaka Bank to analyze these figures critically. If there are increasing non-performing loans, this could signal a need for better credit risk management strategies.
E: Now looking at Trust Bank, which shows a modest gain with a profit per share of Tk 1.33, up from Tk 1.29. Can you comment on their resilience?
R: Trust Bank’s consistent performance, particularly in the context of other banks struggling, is commendable. This might suggest effective risk management and strong customer retention strategies. Their focus on stability while generating profit could serve as a model for other banks facing volatility.
E: It seems like there’s quite a bit of variation in performance among these banks. What do you think will be the main focus for these banks moving forward to ensure sustained growth?
R: Moving forward, banks need to prioritize digital transformation, improve risk management practices, and focus on customer-centric services. They’ll also need to closely monitor economic indicators that could affect loan performance, interest rates, and overall market confidence. Furthermore, continuous adaptation to regulatory changes will be key.
E: These insights are invaluable, Dr. Rahman. Thank you for shedding light on these complex dynamics within the banking sector. Any final thoughts?
R: I believe it’s crucial for investors and stakeholders to keep a close eye on the evolving landscape and not just base their decisions on quarterly performances but also on strategic vision and long-term growth potential.
E: Thank you again for your time and expertise, Dr. Rahman. This has been an enlightening discussion on the Q3 performance of the banking sector. We look forward to your insights in the future!
R: Thank you for having me! I’m looking forward to the next conversation.