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Wednesday, April 22, 2009

IBBL net profit crosses Tk 2.0b-mark

The Financial Express

Islami Bank Bangladesh Ltd (IBBL) has crossed Tk 2.0 billion-mark to earn net profit in a single year among the 30 private commercial banks (PCBs) in the country.

According to the latest audited financial accounts of IBBL, the bank earned Tk 2.674 billion as net profit in the year ended December 31,2008 against Tk 1.427 billion in 2007.

AB Bank Ltd, National Bank Ltd, Pubali Bank Ltd and Prime Bank Ltd bagged the second, third, fourth and fifth positions in earning net profits in 2008 with Tk 2.30 billion, Tk 1.517 billion, Tk 1.515 billion and Tk 1.24 billion respectively.

Started on March 30, 1983, the IBBL is now the largest private commercial bank in Bangladesh.

The IBBL profit before provision in the year ended December 31,2008 was Tk 7.95 billion against Tk 5.16 billion in 2007.

The bank's paid-up capital rose to Tk 4.75 billion in 2008 from Tk 3.80 billion in 2007.

IBBL first crossed Tk 1.0 billion-mark in earning net profit in 2004.

The bank is going to inaugurate 15 new branches and 10 new SME service centers soon, according to IBBL sources.

As a result the number of IBBL branches will stand at 211 and SME Service Centers at 20.

The total deposit of the bank as on March 31,2009 stood at Tk 206.51 billion showing the growth rate of 19 per cent against the corresponding period of 2008.

The total investment reached at Tk 202.00 billion registering a 15 per cent growth against the corresponding period of 2008.

The bank handled foreign exchange business amounting to Tk.105.33 billion including import of Tk. 35.04 billion, export of Tk 25.71 billion and remittance of Tk.44.58 billion till March 31, 2009.



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