 | Banks earn hefty profits in 2010
01 January, 2011
The country's private commercial banks (PCBs) witnessed remarkable growth in their aggregate operating profits in the just-concluded calendar year -- 2010 -- compared to the same of the previous year.
Most of the PCBs saw their profits bulging in 2010 riding on higher import payments and an enhanced credit flow to the private sector including capital market, bankers said.
"Higher import payments along with the capital market investment have contributed to the hefty profit growth in 2010," a senior official of a leading private commercial bank told the FE Friday.
Operating profit, however, does not indicate the real financial picture of a bank.
Because, the banks have to leave aside provisioning against bad debts and taxes that are paid to the government from the operating profits.
The FE could collect figures of operating profit of 16 banks out of 30 until its going to the press at 11pm Friday.
Among those banks, the Islami Bank Bangladesh Ltd. (IBBL) was the top operating profit earner -- Tk 11.43 billion in 2010 against Tk 8.440 billion earned in the previous year.
National Bank Ltd. (NBL) was placed at the second position with an estimated earning of Tk 10 billion in operating profit.
The Prime Bank Ltd. secured the third position earning Tk 7.70 billion as operating profit in 2010 compared to that of Tk 5.80 billion earned in the previous year.
Among the top-performers, Southeast Bank Ltd., made operating profits worth Tk 6.80 billion in 2010 against Tk 4.64 billion in 2009.
The EXIM Bank Ltd -- the country's second largest Islamic bank -- posted operating profit worth Tk 6.07 billion against Tk 3.20 billion a year ago.
The operating profit of Pubali Bank Ltd., which has the largest number of branches among the private commercial banks, rose modestly to Tk 5.90 billion in the just concluded year from Tk 4.09 billion in 2009.
The Bank Asia Ltd., made operating profit worth Tk 4.55 billion and Dutch Bangla Bank Ltd Tk 4.50 billion in 2010.
The operating profits of National Credit and Commerce Bank Ltd (NCCBL) and the Dhaka Bank Ltd. were Tk 4.10 billion and Tk 3.70 billion respectively in 2010 compared to Tk 3.14 billion and Tk 2.70 billion in the previous year.
The Shahjalal Islami Bank Ltd. earned Tk 3.90 billion as operating profit in 2010 followed by the Al-Arafah Islami Bank Ltd. with Tk 3.0 billion. The amounts were Tk 2.10 billion for the Shahjalal Bank and Tk 1.81 billion for the Al-Arafah Islami Bank in 2009.
The operating profit of the Standard Bank Ltd. rose to Tk 3.11 billion in 2010 from Tk 1.81 billion 2009 and that of the Jumuna Bank Ltd. was Tk 2.53 billion in 2010.
First Security Bank Ltd. earned operating profit worth Tk 1.21 billion in 2010 compared to Tk 790 million a year ago.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=121510&date=2011-01-01
|
|
|
