Prime Bank’s profit up 20% in 2023

Prime Bank's profit rose 20 percent year-on-year to Tk 480 crore in 2023, according to a press release.

The bank's profit stood at Tk 399 crore in 2022.

This was revealed at the bank's board meeting held at its head office in Dhaka yesterday.

The meeting recommended a 17.50 percent cash dividend to its shareholders for the year that ended on December 31, 2023.

This dividend declaration is in line with the bank's commitment to sustainable financial performance and return to its shareholders, the bank said in a press release.

The dividend will be distributed to all eligible shareholders subject to the approval of the shareholders at the upcoming AGM.

The bank's earnings per share stood at Tk 4.24 compared to Tk 3.53 in 2022.

The lender's net asset value stood at Tk 30.76 per share, which was Tk 28.41 in 2022, and the net operating cash flow stood at Tk 10.09 per share which was Tk -0.23 in 2022.

Prime Bank is committed to providing innovative banking solutions, sustainable growth and strong corporate governance, the press release added.