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Islami Bank Bangladesh FY'17 profit rises YOY

Islami Bank Bangladesh Ltd. reported a year-over-year increase in net profit for 2017 on the back of higher net investment income.

The bank said April 25 that net profit attributable to equity holders rose to 4.92 billion Bangladeshi taka from 4.48 billion taka in the prior-year period. EPS climbed to 3.06 taka from 2.78 taka.

Net investment income increased to 25.57 billion taka from 23.40 billion taka. Operating income rose to 35.98 billion taka from 32.03 billion taka.

The bank said provisions totaled 4.71 billion taka, up from 3.87 billion taka a year earlier. Similarly, total operating expenses increased to 18.80 billion taka from 17.73 billion taka.

As of April 25, US$1 was equivalent to 84.32 Bangladesh taka.