Five banks post earnings decline in Jan-Sep

Five banks yesterday reported a year-on-year decline in their earnings in the first nine months of this year. 

State-run Rupali Bank suffered the biggest decline followed by IFIC Bank, Brac Bank, Trust Bank, and Standard Bank, as per unaudited earnings disclosures made on the Dhaka Stock Exchange (DSE) website.

Rupali Bank faced a 46 per cent dip in its earnings per share (EPS) to reach Tk 0.20. The IFIC saw a decline of 22 per cent while Brac Bank 5 per cent to reach Tk 2.53. Trust Bank said its EPS dropped 2 per cent to Tk 3.56.

Seven other banks posted growths in their earnings, although for most it was of a single digit in their income per share.

For example, Islami Bank Bangladesh registered only 1 per cent growth in its EPS.

Mercantile Bank, Standard Bank, NCC Bank and Union Bank reported less than 10 per cent.

However, driven by its third quarter earnings, Mutual Trust Bank said its unaudited earnings per share had doubled to Tk 2.5.

Bank Asia reported 14 per cent growth in its EPS to Tk 2.68.

There are 61 scheduled banks in Bangladesh.