Trust Bank’s Q1 profit drops 8%

Trust Bank PLC reported a fall in profit for the first quarter of 2025, as rising expenses dented its earnings.

The bank's profit declined by 8 percent year-on-year to Tk 29.37 crore, according to its financial statement.

Meanwhile, the bank's annual profit dropped by 11 percent year-on-year to Tk 372.31 crore in 2024.

Its earnings per share (EPS) declined to Tk 0.32 in the January-March period from Tk 0.35 in the same period a year earlier.

The bank attributed the fall in EPS to an increase in expenses.

Its earnings per share (EPS) declined to Tk 0.32 in the January-March period from Tk 0.35 in the same period a year earlier

Its net operating cash flow per share (NOCFPS) rose to Tk 13.82 from Tk 7.10 in the same quarter last year.

The increase in NOCFPS was driven by higher deposits from customers and a reduction in loans and advances, the bank said in the financial statement.

Trust Bank saw significant growth in its income from investments, which surged 91 percent year-on-year to Tk 313.26 crore in the first quarter, mainly due to increased investments in treasury bills and bonds.

Its commission, exchange and brokerage income rose by 25 percent year-on-year to Tk 96.99 crore, supported by higher exchange gains on foreign currencies, as per the financial statement.

Trust Bank's provisions against loans and advances and other accounts stood at Tk 214.70 crore, up 7 percent from the same quarter a year ago, owing to a rise in classified loans.

The bank also said that its current tax expenses increased due to higher operating profit.

As of April 3, 2025, sponsor-directors held 60 percent of the bank's shares, institutional investors 22.24 percent, foreign investors 0.02 percent and general investors 17.14 percent, according to Dhaka Stock Exchange data.

Trust Bank, operating since 1999, is sponsored by the Army Welfare Trust. It operates 119 branches and SME centres and eight sub-branches throughout the country, as per its website.