Trust Bank has registered a massive 45.74 percent year-on-year rise in profit in 2023.

The profit amounted to about Tk 425 crore whereas it was around Tk 291 crore in the previous year, according to a disclosure on the Dhaka Stock Exchange website yesterday.

Earnings per share (EPS) of the private lender stood at Tk 4.97 and Tk 3.41 respectively in 2023 and 2022.

Meanwhile, net asset value (NAV) per share reached Tk 27.24 and Tk 23.61.

Net operating cash flow per share (NOCFPS) doubled to Tk 10.64 from Tk 5.18 in the negative.

These prompted the bank's board to recommend 12 percent cash and 8 percent stock dividends for 2023 "to strengthen the capital base of the bank to support business growth".

The dividend has been declared out of the bank's accumulated profit and it is not from capital reserve or revaluation reserve or any unrealised gain, the lender said.

As for the first three months of the current year, the bank secured a 31 percent year-on-year rise in profit to Tk 32.53 crore.

This means, the profit amounted to Tk 19.69 crore in the same quarter of the previous year.

This resulted in an EPS of Tk 0.38 and Tk 0.29 respectively, Trust Bank said in another disclosure.

Meanwhile, the NOCFPS jumped to Tk 7.67 from Tk 1.38 in the negative.

The NAV per share rose to Tk 27.43 from Tk 23.80.

The company's stocks rose 2.55 percent to Tk 28.10 yesterday.