Mercantile Bank PLC. (DSE: MERCANBANK)

Mercantile Bank PLC. Income Statement

Financials in millions BDT. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	23,638	20,416	19,132	18,344	19,471	23,155
Interest Paid on Deposits	21,026	17,483	14,265	13,572	16,737	18,120
Net Interest Income	2,612	2,933	4,867	4,773	2,734	5,035
Net Interest Income Growth (YoY)	-15.90%	-39.73%	1.98%	74.57%	-45.70%	20.62%
Gain (Loss) on Sale of Investments	-39.94	-57.46	-	-	-	-
Other Non-Interest Income	12,900	11,173	10,894	9,109	7,969	8,353
Total Non-Interest Income	12,860	11,115	10,894	9,109	7,969	8,353
Non-Interest Income Growth (YoY)	14.09%	2.03%	19.60%	14.31%	-4.60%	5.89%
Revenues Before Loan Losses	15,472	14,049	15,761	13,882	10,703	13,388
Provision for Loan Losses	2,561	2,548	3,669	1,327	577.41	3,608
Revenue	12,911	11,500	12,093	12,554	10,126	9,781
Revenue Growth (YoY)	22.79%	-4.90%	-3.68%	23.99%	3.53%	-2.43%
Salaries and Employee Benefits	4,378	4,227	4,278	4,127	3,549	2,455
Occupancy Expenses	1,540	1,479	1,510	1,297	1,301	1,292
Selling, General & Administrative	640.56	502.3	526.75	421.71	364.84	388.23
Other Non-Interest Expense	2,506	2,495	2,342	1,628	1,403	2,096
Total Non-Interest Expense	9,064	8,703	8,656	7,474	6,618	6,231
EBT Excluding Unusual Items	3,847	2,798	3,437	5,081	3,507	3,550
Other Unusual Items	-	-	-249	-650	-699	-
Pretax Income	3,847	2,798	3,188	4,431	2,808	3,550
Income Tax Expense	754.33	739.47	834.2	851.66	577.14	1,327
Earnings From Continuing Operations	3,092	2,058	2,354	3,579	2,231	2,223
Minority Interest in Earnings	-3.6	-3.65	-3.35	-5.23	-3.07	-0.59
Net Income	3,089	2,055	2,350	3,574	2,228	2,222
Net Income to Common	3,089	2,055	2,350	3,574	2,228	2,222
Net Income Growth	167.87%	-12.59%	-34.24%	60.40%	0.28%	-24.01%
Basic Shares Outstanding	1,107	1,107	1,107	1,107	1,107	1,107
Diluted Shares Outstanding	1,107	1,107	1,107	1,107	1,107	1,107
Shares Change (YoY)	-	-	-0.00%	-	-0.00%	-
EPS (Basic)	2.79	1.86	2.12	3.23	2.01	2.01
EPS (Diluted)	2.79	1.86	2.12	3.23	2.01	2.01
EPS Growth	167.87%	-12.59%	-34.24%	60.40%	0.28%	-24.01%
Dividend Per Share	1.000	1.000	0.980	1.167	0.889	0.932
Dividend Growth	2.00%	2.00%	-16.00%	31.24%	-4.54%	-
Effective Tax Rate	19.61%	26.43%	26.17%	19.22%	20.55%	37.39%

Source: S&P Capital IQ. Banks template. Financial Sources.