Shahjalal Islami Bank posts higher profit in Q1

Shahjalal Islami Bank Ltd's profit rose 4.25 per cent year-on-year Tk 105.89 crore in the first quarter of 2023.

The profit stood at Tk 101.57 crore in the January-March quarter of 2022.

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Thus, the consolidated earnings per share of the bank were Tk 0.98 in January-March against Tk 0.94 reported in the same quarter of the previous financial year, according to the unaudited financial statements.

The consolidated net operating cash flow per share (NOCFPS) surged to Tk 12.84 from Tk 2.15. The consolidated net asset value per share (NAVPS) rose to Tk 21.20 on March 31 this year from Tk 18.33 on the same day last year.

The NOCFPS increased thanks to a hike in investment incomes, deposits received from customers and recovery against investments. The NAVPS rose because of a rise in the net profit after tax, said the Shariah-based bank in a filing on the Dhaka Stock Exchange.

Shares of Shahjalal Islami Bank closed unchanged at Tk 18.80 on the premier bourse of Bangladesh yesterday.