Trust Bank posts 52% growth in profit in Apr-Jun

Trust Bank has reported a 52% growth in consolidated net profit in the second quarter of 2023 over the same time of the previous year.

According to its statement, from April to June of 2023, Trust Bank's consolidated net profit stood at Tk110.69 crore, and the earnings per share (EPS) stood at Tk1.41, which was Tk72.79 crore and Tk0.94 respectively in the same time of the previous fiscal year.

However, its consolidated net profit in the first half of 2023 has declined by 15% over the same time of the previous fiscal year.

From January to June of 2023, its consolidated net profit stood at Tk133.69 crore, and EPS at Tk1.77. At the same time in 2022, its consolidated net profit was Tk157.21 crore and EPS at TK2.15.

In the first half, its consolidated net operating cash flow per share (NOCFPS) increased by 77% to Tk35.75, which was Tk20.20 at the same time as the previous fiscal year.

The bank, which got listed on the stock exchanges, has recommended a 10% cash and 10% stock dividend for its shareholders for 2022.

The dividend may approve in its annual general meeting (AGM), which is scheduled on 20 July.

Earlier, in 2021, it had paid a 12.5% cash and 10% stock dividend to its shareholders.