Mercantile Bank Q3 profit up 35%

Mercantile Bank PLC has reported a 35 percent increase in profit for the July-September quarter of this year.

In the three months, the lender generated a profit of Tk 117.29 crore.

Its consolidated earnings per share (EPS) rose to Tk 1.06 for the quarter, up from Tk 0.78 during the same period in 2023, according to a recent disclosure on the website of Dhaka Stock Exchange

Mercantile Bank attributed the surge in EPS to a rise in profit before provisioning.

The bank's consolidated EPS was Tk 3.04 for the first nine months of this year. Its net operating cash flow per share climbed to Tk 7.21, which the bank attributed to improved cash flows from core operations.

Established in 1999, Mercantile Bank operates a nationwide network, with 152 branches, 197 ATMs and 188 agent banking outlets, as per its website.