Islami Bank registers dip in profit

Islami Bank Bangladesh Limited's profit slumped 32.70 per cent year-on-year to Tk 56.35 crore in the first quarter of 2023.

The country's largest Shariah-based bank in terms of deposits made a profit of Tk 83.72 crore in the January-March quarter of 2022.

The bank, thus, recorded Tk 0.35 earnings per share in January-March, down from Tk 0.52 in the same period a year ago, according to a disclosure on the Dhaka Stock Exchange.

The net operating cash flow per share became negative in the first quarter.

IBBL said its net operating cash flow per share decreased significantly due to an increase in net cash outflows against investments to customers and lower deposits mobilisation from customers.

Its shares closed unchanged at Tk 32.80 on the DSE yesterday.

The bank saw its EPS grow 28 per cent year-on-year to Tk 3.83 in 2022 from Tk 2.99 a year ago. It declared a 10 per cent cash dividend for the year that ended on December 31.