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Monday, January 03, 2005

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HEADLINE
 
PCBs' operating profit records 29 per cent growth in 2004
Siddique Islam
1/3/2005
 

          The operating profit of country's private commercial banks (PCBs) shot up by around Tk 5.0 billion in calendar 2004, recording a 28.63 per cent growth over the previous year, sources concerned said.
Some 29 PCBs earned a total of Tk 22.42 billion as operating profit in the year 2004 as against Tk 17.43 billion of the previous year, the sources said adding that the profit figure of the Oriental Bank Ltd was not included.
Operating profit does not, however, indicate actual financial position of a bank. The banks have to leave aside provisioning against bad debts and taxes paid to the government from the operating profit, the sources said.
The Islami Bank Bangladesh Limited, a Islamic Shariah-based private commercial bank, held top position among the PCBs, earning Tk 2.93 billion as operating profit in 2004 against Tk 2.18 billion in the previous year.
Meanwhile, at least three PCBs - the Pubali, Social Investment and Shajalal Islami banks - out of 29, registered low operating profits last year due mainly to higher bad debts and lower business, sources added.
The Prime Bank Ltd, however, obtained second position with an earning of Tk 1.37 billion as operating profit in the last year com pared with Tk 1.10 billion in the previous year.
According to the sources, the Uttara Bank Ltd. held third position, earning Tk 1.24 billion in the last year compared to Tk 1.14 billion in the previous year.
The operating profit of the Pubali Bank Ltd has declined from Tk 930 billion in 2003 to 750 million in 2004, while that of the Social Investment Bank Ltd. fell from Tk 510 million in 2003 to Tk 420 million in 2004.
The operating profit of the IFIC Bank and Eastern Bank were Tk 780 million and Tk 910 million respectively in 2004 against Tk 680 million and Tk 760 in the previous year.
The National Commerce and Credit Bank Ltd. (NCCBL) earned Tk 720 million as operating profit in 2004 followed by the United Commercial Bank Limited (UCBL) with Tk 900 million. The amount was Tk 640 million for the NCCBL and Tk 720 million for the UCBL in 2003.
The Southeast Bank has earned operating profit worth Tk 880 million in 2004 followed by the Dutch-Bangla Bank Ltd. with Tk 680 million.
The amount was Tk 710 million for the Southeast Bank and Tk 480 million for the Dutch-Bangla Bank Ltd. in 2003.
The National Bank Ltd. made operating profit worth Tk 1.12 billion in 2004 against Tk 1.00 billion 2003, while the figure for the City Bank Ltd. stood at Tk 950 million in 2004 against Tk 690 million in 2003.
The BASIC Bank made operating profit worth Tk 720 million in 2004 against Tk 650 million in 2003, while the Al-Arafah Islami Bank Ltd earned Tk 370 million in 2004 compared to Tk 310 million in 2003.
The Mercantile Bank Ltd. earned operating profit worth Tk 870 million in 2004 followed by the Dhaka Bank Ltd. with Tk 850 Million. The amount was Tk 610 million for the Mercantile Bank Ltd. and Tk 430 million for the Dhaka Bank Ltd. in 2003.
Sources said most of the third generation banks, started operation in the late 1990s, performed well in terms of operating profit, the provisional data indicated.

 

 
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