City Bank net profit jumps despite pandemic fallout

City Bank made a Tk 549-crore profit after tax in 2021, 26 percent up from the previous year’s Tk 436 crore net profit.

Its net profit rose despite dull economic activities caused by the coronavirus pandemic.

The bank disclosed the figure in a press statement on Wednesday. 

It organised its earnings disclosure webcast event on the day based on financial performances of Q4, 2021.

Existing and potential investors at home and abroad, researchers and analysts and many other individuals involved in capital market activities joined the event held on a digital platform. 

Consolidated earnings per share (EPS) of the bank were recorded at Tk 5.15 for the period from January to December in 2021 against that of Tk 4.09 during the same period last year.

The event started with the presentation on recent financial performances of the bank by Md Mahbubur Rahman, additional managing director and chief financial officer of the bank, followed by a speech by Mashrur Arefin, managing director and CEO of the bank.

The CEO briefly discussed the current strategic priorities and challenges of the bank. After that, the event was opened for a Q&A session, where participants shared their concerns with the management.

The bank said it attracted much attention from investment communities across the globe in recent years through its noticeable presence and growth. This event is an effort by the bank to boost investor relations and confidence, it added.