City Bank's half-yearly profit grows 9%

The City Bank's net profit increased by 9% in the first half of this year compared to the same period a year ago, senior officials of the bank said at the half-yearly earnings disclosure webcast on Tuesday.

The bank reported Tk236.94 crore in consolidated profit after tax for the six months, which was Tk217.22 crore during the same period of the previous year.

Consolidated earnings per share (EPS) for the six months grew to Tk1.97, from Tk1.81 for the same period of 2022. Consolidated figures include that of subsidiary companies.

City Bank's Additional Managing Director and Chief Financial Officer Md Mahbubur Rahman presented the details of the bank's half-yearly performance at the beginning of the webcast.

Managing Director and CEO Mashrur Arefin, in his speech, elaborated other factors including the bank's current and future strategies.

Additional Managing Director and Chief Business Officer Sheikh Mohammad Maroof later answered the questions by the participants including existing shareholders, potential investors, and equity analysts.

Bank officials at the webcast said their bank attracted much attention from investment communities across the globe in the recent years through its noticeable presence and growth among the private sector commercial banks.

The webcast was a part of the bank's continuous efforts to scale up investor relations, the bank said in a statement after the event.

At the end of June, the bank's consolidated net asset value per share increased to Tk29.96.

City Bank shares, having a face value of Tk10 each, closed at the floor price of Tk21.4 at the Dhaka Stock Exchange on Tuesday.