UCB posts Tk 272cr profit in 2017

United Commercial Bank's profit rose 3.6 percent year-on-year to Tk 272.23 crore last year. The private commercial bank disclosed the annual earnings at a programme at its corporate office in Dhaka yesterday.

Net profit after tax stood at Tk 243.39 crore in 2017 on a standalone basis against Tk 262.86 crore a year ago.

Consolidated earnings per share and net asset value per share were at Tk 2.58 and Tk 25.49 respectively in 2017, up from Tk 2.49 and Tk 24.5 respectively in the previous year. The board recommended 10 percent cash dividend for the year, the bank said in a statement. 

AE Abdul Muhaimen, managing director of UCB, conducted the disclosure session.

Additional Managing Directors Mohammed Shawkat Jamil, Ahsan Afzal, Arif Quadri and Mohammad Mamdudur Rashid and Deputy Managing Director Md Sohrab Mustafa were also present.