Islami bank’s profit rises slightly despite fall in third quarter

Islami Bank Bangladesh Ltd (IBBL), country's largest Shariah-based bank, registered a marginal increase in its profit in the first nine months of the current year although its earnings declined in the third quarter, it said today.

Earnings per share (EPS) of the bank grew to Tk 2.72 in January-September period this financial year from Tk 2.71 the same period a year ago, according to a disclosure on Dhaka Stock Exchange (DSE).

The bank has 160.99 crore shares outstanding, according to the DSE.

As such, Islami bank's net profit rose to around Tk 438 crore in the first nine months of the current financial year ending in December this year from nearly Tk 436 crore the same period a year ago.

The Shariah-based bank said its profit per share fell 3.27 percent year-on-year to Tk 0.59 in July-September quarter 2023 from Tk 0.61 a year ago.

Shares of Islami Bank remained unchanged at Tk 36.20 until 2 pm on Sunday at the DSE.

The bank said its net operating cash flow per share had been in the negative for this year too and it declined.

Islami Bank's net operating cash flow per share was Tk 48.09 in the negative during the January-September 2023 against Tk 44.75 in the negative a year ago.