Dhaka : Mutual Trust Bank Ltd (MTB) has been honoured with the 'Best Performance in Profitability' Award for 2024 by the Indian Chamber of Commerce (ICC), following a record-breaking year of operational success in 2023 and its earlier four years. This award highlights MTB's performance in both business growth and profitability, affirming the bank's leadership in the financial sector.
About the win, Syed Mahbubur Rahman, MD and CEO, MTB, said, "This award from the ICC is a reflection of our commitment to driving business excellence and profitability. We are confident in our ability to maintain our sustainable growth momentum, ensuring customer satisfaction by providing the highest level of service, and delivering value to our customers, shareholders, and employees."
In 2023, MTB achieved the highest operating profit in its history, surpassing BDT 800 crore mark. The bank's net profit also approached BDT 300 crore, registering a five-year compound annual growth rate (CAGR) of 16 per cent, more than double the industry average of 8 per cent.
MTB attributes its success to corporate governance, ethical standards, transparency, and a strong credit culture, all led by the Board of Directors and expert management team. Additionally, MTB has leveraged innovative digital banking solutions, fostering a culture of continuous innovation and improvement within the organisation.
With 26 local and global awards already under its belt, MTB anticipates another successful year in 2024 as it celebrates its 25th anniversary and first Silver Jubilee, continuing its legacy as a trusted and reliable financial institution in Bangladesh.