Q2 earnings of IFIC bank jumps 422%

IFIC Bank has posted about 422 percent increase in its earnings in the second quarter ended June 2021 as against the same quarter last year.

In a filing with the Dhaka Stock Exchange on Wednesday, the company said that its earnings per share (EPS) stood at Tk 0.47 in Q2, an increase of 422 percent from Tk 0.09 recorded in the same period a year earlier.

As of June 30, 2021, the company’s net asset value (NAV) per share stood at Tk 17.21 against Tk 16.00 as on June 30, 2020.

Meanwhile, the company's earnings per share (EPS) for the first six months of the current financial year (January-June '21) stood at Tk 0.91.

The earnings per share (EPS) for the same period of the previous financial year was Tk 0.51. As a result, the company's profit has increased by Tk 0.40 or 78 percent.

The Company also informed that EPS was higher due to higher level of Net Interest Income, Investment Income and Fee based income.

NOCFPS was also higher due to higher level of deposits growth than lending growth.