Business Desk :
Mercantile Bank, which got listed on the stock exchanges in 2004, has reported a 16% increase in profit in the first quarter of this year.
The private sector lender has approved a 15% dividend – 10% cash and 5% bonus – for its shareholders.
After a meeting of the board of directors on Thursday, the bank announced that its consolidated and solo earnings have increased in the first quarter compared to the same period of the previous year.
In the January-March quarter, the bank said its consolidated earnings per share (EPS) stood at Tk0.64 and solo EPS at Tk0.56, which was Tk0.55 and Tk0.53 respectively in the same period of the previous year.
As per un-audited financials, in the first quarter, its consolidated net profit stood at Tk62.97 crore.
Its consolidated net asset value (NAV) stood at Tk2,284.33 crore, an increase from Tk2,270.29 crore in the previous year.
