Mercantile Bank’s half-yearly profit soars, Union Bank’s declines

Mercantile Bank has posted a higher profit in the first half of 2022 while its rival Union Bank has witnessed a decline.

According to its financial disclosure on stock exchanges on Tuesday, Mercantile Bank's consolidated earnings per share (EPS) has increased by 15% compared to the corresponding period of last year.

In the January-July period, its consolidated EPS increased to Tk2.22 from Tk1.93 at the same time a year ago.

In the second quarter, the private sector lender's consolidated EPS rose to Tk1.36, a 3% increase from Tk1.32 in the corresponding time of 2021.

On Tuesday, its shares closed at Tk13.70 each on stock exchanges.

Union Bank, which got listed on the capital market in January this year, has reported a 10% half-yearly decline in EPS.

In the first half of 2022, the EPS declined to Tk0.78 from Tk0.87 at the same time a year ago.

In the April-June quarter, its EPS fell by 29% to Tk0.44, which was Tk0.62 in the same period of 2021.

The share price of the bank closed at Tk9.40 each.