City Bank profit jumps 66%
Banking
The City Bank Ltd has reported a 66% year-on-year increase in profits for 2020.
The consolidated earnings per share (EPS) of the private sector lender stood at Tk4.29 in the last year, which was Tk2.59 in 2019.
The listed commercial bank's board of directors recommended a 17.5% cash and 5% stock dividends for last year.
The financial institution will hold its shareholders' annual general meeting on May 19 and on April 13 its share trading will be off as the bank will identify its shareholders on the specified date.
The bank advanced in profitability both in its solo account and the consolidated account which includes profits of subsidiary companies.
City Bank, the lending business entity, posted an EPS of Tk3.95 for 2020, which was Tk2.43 a year ago.
It is a leading private sector commercial bank in the country, while two of its capital market subsidiaries are also leading names in the investment banking and brokerage business respectively.
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