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    Home | Blog | Finance & Banking | Dutch-Bangla Bank Reports Remarkable 42% Profit Growth
    Finance & Banking

    Dutch-Bangla Bank Reports Remarkable 42% Profit Growth

    April 20, 20243 Mins Read
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    Dutch-Bangla Bank Reports Remarkable 42% Profit Growth
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    Dutch-Bangla Bank PLC, one of Bangladesh’s leading private commercial banks, has announced an impressive surge in earnings, marking its highest profit growth in a decade. The bank reported a staggering 42% increase in profits for the financial year 2023, reaching Tk 801 crore compared to Tk 566 crore in the previous year.

    This remarkable achievement can be attributed to the bank’s strategic focus on improving asset quality and maintaining strong corporate governance standards. By onboarding high-quality borrowers and diversifying its portfolio with a focus on retail, small-and-medium enterprises (SMEs), and home loans, Dutch-Bangla Bank has successfully enhanced its financial performance.

    The bank’s commitment to prudent risk management is evident in its declining ratio of non-performing loans, which decreased to 4.16% by the end of 2023 from 4.29% the previous year. This improvement is significant considering the challenging economic landscape and reflects the bank’s proactive approach to managing credit risk.

    Furthermore, Dutch-Bangla Bank’s total assets grew by 7% year-on-year, reaching Tk 59,388 crore by the end of 2023. Total loans and advances also experienced robust growth, increasing by 13% to Tk 41,202 crore during the same period.

    Capital adequacy, a key indicator of a bank’s financial strength, also improved, with the bank’s capital adequacy ratio against risk-weighted assets rising to 16.16% in 2023 from 15.55% in the previous year. This demonstrates Dutch-Bangla Bank’s robust capital position and its ability to support continued business expansion.

    Abul Kashem Md Shirin, the Managing Director and CEO of Dutch-Bangla Bank, highlighted the bank’s investment in technology as a driver of its success. Leveraging innovative solutions such as ATMs, CRMs, agent banking, and sub-branch activities, the bank has enhanced service delivery and operational efficiency, contributing to overall performance improvement.

    In response to its stellar financial results, Dutch-Bangla Bank has recommended a 17.50% cash dividend and a 17.50% stock dividend for the year 2023, the highest in five years. This announcement has been met with enthusiasm from investors, as evidenced by the 7.20% increase in the bank’s share price at the Dhaka Stock Exchange.

    Looking ahead, Dutch-Bangla Bank remains committed to strengthening its capital base and expanding its business capacity. The bank’s board has recommended bonus shares to increase its paid-up capital, aligning with Bangladesh Bank directives. Additionally, the bank will utilize retained earnings to support capital growth and maintain a strong financial footing.

    As Dutch-Bangla Bank continues its journey of success, it reaffirms its position as a leading player in Bangladesh’s banking sector. With a focus on innovation, prudent risk management, and customer-centricity, the bank is well-positioned to drive sustainable growth and deliver value to its stakeholders.

    At the end of March 31 this year, sponsors or directors of the bank held 86.99% of its shares, while general investors held 7.23%, and institutional investors held the remaining shares.

    42% Profit Growth Dutch-Bangla Bank Dutch-Bangla Bank Reports Remarkable 42% Profit Growth

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