City Bank PLC reported a 75 per cent rise in first-half profit, driven by stronger earnings, as the private lender sought to reinforce investor confidence through a public earnings disclosure.
The bank posted a consolidated profit after tax of Tk526.69 crore for the six months ended June, up from Tk301.11 crore a year earlier, according to its financial results presented during an earnings webcast on Sunday.
Consolidated earnings per share (EPS), or profit per share, rose to Tk3.01 from Tk1.72 in the corresponding period last year.
City Bank Managing Director and CEO Mashrur Arefin outlined the bank’s strategic direction and future growth plans during the webcast, while Additional Managing Director and CFO Md Mahbubur Rahman presented the half-year financial results.
The virtual event drew existing and prospective investors, analysts, researchers and other capital market participants from Bangladesh and overseas as part of the bank’s investor engagement programme.
Deputy Managing Director and Head of Wholesale Banking Mesbaul Asif Siddiqui, Deputy Managing Director and Head of Internal Control and Compliance AKM Saif Ullah Kowchar and Chief Risk Officer Mohammad Firoz Alam also attended the event and joined a question-and-answer session with participants.
The bank said it has continued to strengthen engagement with the investment community through regular financial disclosures as its market presence and business have expanded in recent years.
