Pubali Bank reported a significant 55 percent year-on-year increase in profits in the first six months of this year.

The amount was Tk 431.44 crore whereas Tk 278.27 crore in the same period a year earlier, according to its unaudited financial statements.

As a result, the bank's consolidated earnings per share rose to Tk 3.73 from Tk 2.41 in the same period last year.

Meanwhile, Pubali Bank's net operating cash flow per share saw a substantial turnaround, reaching Tk 17.15 from Tk 2.28 in the negative.

The net asset value (NAV) per share was Tk 44.29.

Pubali Bank's origins trace back to 1959 when it was established as Eastern Mercantile Bank, aimed at providing credit to entrepreneurs in the then East Pakistan.

Once Bangladesh gained independence in 1971, the bank was nationalised and renamed Pubali Bank. In 1983, it transitioned back to a private entity and adopted its current name, Pubali Bank.

Pubali Bank continues to enable the socio-economic, industrial, and agricultural development of Bangladesh through savings mobilisation and fund investment, according to its website.

At present, Pubali Bank has 504 branches, 195 sub-branches and 21 Islamic banking windows.

Pubali Bank's shares rose 1.62 percent to Tk 25.10 at Dhaka Stock Exchange yesterday.