Tuesday, 05 Jul, 2022

Business

Janata bank posts Tk 300cr net profit in 2021

News Desk | banglanews24.com
Update: 2022-05-05 18:30:40
Janata bank posts Tk 300cr net profit in 2021

State-owned Janata Bank posted the highest ever net profit of Tk 300 crore in 2021 since its start of operation supported by uptrend in all the key indicators.  

Besides, it registered Tk 1000 crore operational profit, a level which could not be maintained after 2012, suggests approved final financial statement of the bank.

If the uptrend in key indicators continues, banking sector analysts say, the bank will be able to regain its previous glory. 

The number of loss making branches now dropped to 39 from 51, while its Earning Per Share (EPS) surged to 12.98 percent in 2021 from 0.62 percent in 2020.

The bank has also shown remarkable improvement in lowering classified loans as it has been able to curtail NPL by 5.08 percentage points to Tk 12,300 crore in 2021 from 13,700 crore a year earlier.

Now, Janata Bank’s total amount of deposits stood at Tk 1,02,000 crore apart from improvement in advances, exports, spread and increase in Yield of Advance (income from loans) and cut in cost of fund.

Remarkable progress was also found in other indicators as well. The financial statement was approved by the bank’s board of directors on Saturday.

BDST: 1831 HRS, MAY 05, 2022
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