Eastern Bank PLC (EBL) posted a 28 percent year-on-year rise in consolidated profit in the first quarter of 2026, driven by strong investment income, higher foreign exchange earnings and lower provisioning expenses.

The bank’s consolidated profit after tax stood at Tk 199 crore for the quarter that ended on March 31, up from Tk 155 crore in the same period a year earlier, according to a press release.

Earnings per share increased to Tk 1.24 from Tk 0.97, while net asset value per share rose to Tk 32.75 from Tk 26.41.

Hassan O Rashid, managing director of EBL, said the bank delivered a resilient performance despite slower private sector credit growth.

“We continue to remain focused on maintaining strong asset quality, liquidity and capital strength while ensuring superior financial result for our shareholders,” he added.

Net interest income -- the difference between interest earned on loans and interest paid on deposits -- fell to Tk 117 crore from Tk 228 crore a year ago.

The decline came as EBL shifted a larger share of its funds into government securities amid subdued private sector credit demand. Although the move compressed lending spreads, it helped the bank generate higher and safer returns through investments.

Investment income surged 24 percent year-on-year to Tk 478 crore, helping offset pressure on core lending income. Non-funded income, including fees, commissions and foreign exchange earnings, rose 14 percent to Tk 192 crore.

Foreign exchange income jumped 54 percent to Tk 57 crore, supported by increased trade flows and card transactions.

EBL maintained strong asset quality, with its non-performing loan ratio remaining stable at 2.80 percent at the end of March, well below the industry average.

The bank’s capital adequacy and liquidity indicators also remained strong and comfortably above regulatory requirements.

Total deposits grew 20 percent year-on-year to Tk 56,207 crore, while standalone total assets rose 17 percent to Tk 76,961 crore.