Mutual Trust Bank PLC (MTB) has been honoured with the 'Best Performance in Profitability' Award for 2024 by the Indian Chamber of Commerce (ICC), says a statement.
This recognition comes after a record-breaking year of operational success in 2023 and continued achievements over the previous four years.
This award highlights MTB's exceptional performance in both business growth and profitability, affirming the bank's leadership in the financial sector.
In 2023, MTB achieved the highest operating profit in its history, surpassing the Tk 8.0 billion mark.
The bank's net profit also approached Tk 3.0 billion, registering a five-year compound annual growth rate (CAGR) of 16 per cent, more than double the industry average of 8 per cent.
This outstanding performance underscores MTB's robust business foundation and its commitment to sustainable growth.
MTB attributes its success to exemplary corporate governance, ethical standards, transparency, and a strong credit culture, all led by a visionary Board of Directors and an industry-leading management team.
The bank's ability to deliver strong financial results to maximise the shareholders' wealth while expanding its business operations reflects its strategic focus on sustainable growth.
Additionally, MTB has leveraged innovative digital banking solutions, fostering a culture of continuous innovation and improvement within the organisation.
Commenting on the achievement, Syed Mahbubur Rahman, said, "This award from the ICC is a reflection of our commitment to driving business excellence and profitability. We are confident in our ability to maintain our sustainable growth momentum, ensuring customer satisfaction by providing the highest level of service, and delivering value to our customers, shareholders, and employees."
With 26 local and global awards already under its belt, MTB anticipates another record-breaking year in 2024 as it celebrates its 25th anniversary and first Silver Jubilee, continuing its legacy as a trusted and reliable financial institution in Bangladesh.
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