TBT DESK: The first quarter (January-March) of the 2025 financial year has brought improved earnings for four of the five listed banks, according to data released by the Dhaka Stock Exchange (DSE) on Monday. BRAC Bank PLC, Eastern Bank PLC, Midland Bank PLC, and Uttara Bank PLC all posted year-on-year profit growth, while City Bank PLC recorded a slight decline in net profit.
BRAC Bank: BRAC Bank reported a significant rise in net interest income, earning Tk 1,795 crore, up from Tk 1,240 crore during the same period last year. Its net profit after tax surged by nearly 53% to Tk 486.33 crore, compared to Tk 317.87 crore in Q1 of the previous year.
The bank's consolidated earnings per share (EPS) rose to Tk 2.27, from Tk 1.54. As of 31 March 2025, its net asset value per share (NAVPS) stood at Tk 47.05.
Eastern Bank: Eastern Bank earned Tk 1,151 crore in interest income during the quarter, up from Tk 824 crore a year earlier. Net profit after tax increased by 6.37% to Tk 154.62 crore, compared to Tk 145.38 crore last year.
EPS rose slightly to Tk 1.14 from Tk 1.07 (restated), while the bank's NAVPS stood at Tk 31.03.
Midland Bank: Midland Bank posted an interest income of Tk 173.47 crore, compared to Tk 125.18 crore in Q1 of the previous year. Net profit rose by 40.36% to Tk 10.39 crore, from Tk 7.40 crore.
EPS increased to Tk 0.16 from Tk 0.12, and NAVPS reached Tk 15.28 at the end of March.
Uttara Bank: Uttara Bank more than doubled its quarterly earnings, with EPS rising to Tk 1.46, compared to Tk 0.68 in the same period last year. The bank's NAVPS matched BRAC Bank's at Tk 47.05 as of 31 March.
City Bank: City Bank was the only one among the five to report a slight decline in net profit. Despite a rise in interest income to Tk 1,275 crore from Tk 949 crore, net profit dipped by 0.40% to Tk 92.08 crore, down from Tk 92.45 crore. EPS remained unchanged at Tk 0.68, while NAVPS stood at Tk 35.33.
The results reflect a generally positive trend for the banking sector in early 2025, though challenges remain for some institutions amid ongoing reforms and tighter regulatory scrutiny.