Prime Bank earns pre-audited profit of Tk 1.55b in 6 months
Monday, 16 July 2007
FE Report
Prime Bank had maintained its satisfactory growth during the first half of 2007, as it earned a pre-audited operating profit of Tk 1.5562 billion (Tk 155.62 crore) as against Tk1.023 billion in the same period of 2006, registering a 52 per cent growth.
It was revealed at the half-yearly business conference of the Bank held in the city Saturday, said a press release.
M Shahjahan Bhuiyan, managing director (MD) of the bank, Nasiruddin Ahmed and Mahbubul Alam, deputy managing directors (DMDs), MA Abdullah, senior executive vice president (SEVP), divisional heads and branch officials attended the conference.
During the conference, business performance during the past six months of the current year was evaluated and strategies adopted for the next six months were discussed.
The bank's deposit and loans stood at Tk 62.3994 billion and Tk 49.60 billion, registering rises of 42 per cent and 30 per cent respectively over the same period in 2006.
Nasiruddin Ahmed advised the branch managers to work hard, look for new business avenues and adopt diversification.
He gave a brief on the future direction of the bank and reaffirmed that the year 2007 would be the year of consolidation where the bank will put greater emphasis on the quality of assets, compliance issues and maintaining more than required capital adequacy
He also put emphasis on gearing up retail and SME lending by introducing new products for the larger segment of our population.
He also stressed the need for corporate governance and professionalism in the approach.
M Shajahan Bhuiyan, in his speech, expressed satisfaction at the half-yearly performance of the bank and said this has been possible due to professional approach and diligence practiced by all.
The prudential guidelines of the board helped the bank retain its position on a satisfactory level despite the challenges in the first half of the year, he added.
Prime Bank had maintained its satisfactory growth during the first half of 2007, as it earned a pre-audited operating profit of Tk 1.5562 billion (Tk 155.62 crore) as against Tk1.023 billion in the same period of 2006, registering a 52 per cent growth.
It was revealed at the half-yearly business conference of the Bank held in the city Saturday, said a press release.
M Shahjahan Bhuiyan, managing director (MD) of the bank, Nasiruddin Ahmed and Mahbubul Alam, deputy managing directors (DMDs), MA Abdullah, senior executive vice president (SEVP), divisional heads and branch officials attended the conference.
During the conference, business performance during the past six months of the current year was evaluated and strategies adopted for the next six months were discussed.
The bank's deposit and loans stood at Tk 62.3994 billion and Tk 49.60 billion, registering rises of 42 per cent and 30 per cent respectively over the same period in 2006.
Nasiruddin Ahmed advised the branch managers to work hard, look for new business avenues and adopt diversification.
He gave a brief on the future direction of the bank and reaffirmed that the year 2007 would be the year of consolidation where the bank will put greater emphasis on the quality of assets, compliance issues and maintaining more than required capital adequacy
He also put emphasis on gearing up retail and SME lending by introducing new products for the larger segment of our population.
He also stressed the need for corporate governance and professionalism in the approach.
M Shajahan Bhuiyan, in his speech, expressed satisfaction at the half-yearly performance of the bank and said this has been possible due to professional approach and diligence practiced by all.
The prudential guidelines of the board helped the bank retain its position on a satisfactory level despite the challenges in the first half of the year, he added.