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Janata Bank FY'17 profit grows YOY on higher interest income

Bangladesh's Janata Bank Ltd. reported a year-over-year increase in net profit for 2017, as net interest income surged.

The bank said April 25 that consolidated net profit attributable to equity holders grew to 2.73 billion taka, or 14.27 taka per share, from 2.61 billion taka, or 13.63 taka per share, in 2016.

Net interest income jumped to 4.11 billion taka from 544.6 million taka. The bank's investment income dropped to 14.60 billion taka from 16.52 billion taka. Total operating income increased to 25.66 billion taka from 23.14 billion taka, the bank said.

The bank's total provisions increased to 7.23 billion taka from 6.39 billion taka in 2016.

Janata Bank's consolidated capital-to-risk-weighted-asset ratio was 10.07%, down from 10.63% for 2016. The bank's Tier 1 capital-to-risk weighted asset ratio fell to 8.33% from 8.75% in 2016, while its Tier 2 capital-to-risk weighted asset ratio dropped to 1.74% from 1.88% in the year-ago period.

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