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Financial Performance Analysis of Mutual Trust Bank LTD
Financial Performance Analysis of Mutual Trust Bank LTD
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Acknowledgement
First and foremost, I would like to thank almighty Allah for giving me the patience and the
ability to work hard with tremendous devotion.
I would especially like to thank Mr. Mokhdum Morshed, my course instructor, who has
allowed me to do this report, and whom I have frequently consulted for guidance and advice
during the preparation of this report. His wisdom and valuable insight helped me a lot to realize
the value of this report and motivated me to develop the entire work. Without his support, it
would not have been possible to complete and submit this report.
Finally, I would like to thank some of my friends who, did this course earlier, had helped me a
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Executive Summary
In this report, financial performance of Mutual Trust Bank Limited (MTB) has been analyzed.
The time period was from year 2009 to year 2011. For analysis comparative performance of
MTB, the results have been compared with the same data obtained from one of their competitor
Prime Bank Limited. There are several financial performance analyze tools have been used.
First of all, to evaluate the overall performance of the bank and help the investors to make
decisions, financial performance is analyzed based on different categories of ratios like liquidity
ratios, efficiency ratios, leverage ratios, profitability ratios and stock market ratios. Then
performance has been analyzed based on both vertical and horizontal statements-income
statement & balance sheet.
The major part of the report is findings & analysis section as it shows all the facts with potential
understanding to an investor whether they should invest or not. And the recommendation part is
based on the findings and analysis section and shows what an existing or a potential investor
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should decide about his investment decision for these two banks.
Table of Contents
Letter of Transmittal ................................................................................................................1
Acknowledgement ....................................................................................................................2
Executive Summary .................................................................................................................3
Table of Contents ......................................................................................................................4
Introduction ..............................................................................................................................5
Objectives ..................................................................................................................................6
Methodology .............................................................................................................................6
Limitations ................................................................................................................................7
Overview of the Bank ...............................................................................................................8
Literature Review ................................................................................................................... 10
Ratio ..................................................................................................................................... 10
Common Size Statements .................................................................................................. 17
Findings and Analysis ............................................................................................................ 18
Ratio Analysis ....................................................................................................................... 18
Common size Statements Analysis ........................................................................................ 36
Return & Risk Analysis ......................................................................................................... 37
Required rate of return .......................................................................................................... 38
Recommendation ................................................................................................................... 40
Conclusion .............................................................................................................................. 40
Bibliography............................................................................................................................ 41
Appendix-1: Common Size Statements
Appendix-2: Risk Free Rate Selection
Appendix-3: Ratio Calculation
Apeendix-4: Daily Return Calculation
Appendix-5: Monthly Return Calculation
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Introduction
Bank plays a very important role in the economic life of the nation. Nowadays modern banks are
very constructive for the utilization of the resources of the country. The banks are mobilizing the
savings of the people for the investment purposes. In todays world, a bank performs several
general banking activities in line with its different internal departments. To ensure economic
stability, and to develop the rural and urban areas with necessary financial assistance,
government nationalized commercial banking. Previously only government banks were here to
serve the financial needs of consumers, but later private banks started dominating the market
with lots of branches and many services all over the country. They have joined the banking
industry to serve the common and corporate sector and to enhance their profitability in the
economy.
The Bangladesh banking sector relative to the size of its economy is comparatively larger than
many economies of similar level of development and per capita income. The total size of the
sector at 1.51% of GDP dominates the financial system, which is proportionately large for a
country with a per capita income of only about US$848 in 2012. Currently there are 4
Nationalized Commercial Banks (NCBs) 32 private bank and 10 foreign banks operating in
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Bangladesh.
Objectives
The basic objective of this report is to understand the financial performance of the Mutual Trust
Bank Ltd. as the private commercial bank of Bangladesh whether its performance is improving
or not over a certain period of time i.e. from year 2009 to 2011 and to compare the performance
with one of its direct competitor, Prime Bank Ltd., in the banking industry.
To be familiar with the history and operations of Mutual Trust Bank in Bangladesh
To figure out operational performance of MTB in recent years
To familiar with the financial statements of the bank
To familiar with different types of financial performance analysis tools
To gather knowledge about the financial function of different sections
To fulfill the requirement of the course titled Bank Management
Methodology
Annual report of Mutual Trust Bank Limited (Year 2009 to Year 2011)
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This report has been prepared completely based on secondary data. Secondary sources includes-
Limitations
However, I am lucky to get the chance to prepare this report but unfortunately I have to face
some difficulties. I have tried to overcome the difficulties and gave my best effort. While
preparing this report, some difficulties that I have faced are-
Time Shortages
This extensive type of report needs too much time to prepare it. However, I had to prepare this
report within a very short span of time. The bank officials are also very busy, so it was hard to
bring their concentration on the matter.
Inconsistent Terminologies
Sometimes it was very difficult to get the correct terminologies because there are many
inconsistent terminologies that bank are following now a day. There are many terminologies,
which are not consistent with the Generally Acceptable Accounting Principle (GAAP). So, I
need to closely look at those to find out the actual data from the financial statements.
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Mission
We aspire to be the most admired financial institution in the country, recognized as a dynamic,
innovative and client focused company that offers an array of products and services in the
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search for excellence and to create an impressive economic value. MTBL Group
Vision
Mutual Trust Bank's vision is based on a philosophy known as MTB3V. They envision MTB to
be:
One of the Best Performing Banks in Bangladesh
The Bank of Choice
A Truly World-class Bank
SME Banking
MTB Bhagyoboti
MTB Krishi
MTB Mousumi
MTB Small Business Loan
MTB Digoon
Wholesale Banking
Term Finance
Working Capital Finance
Trade Finance
Offshore Banking
Syndication & Structured
Finance
Treasury Services
Money Market
Foreign Exchange
NRB Banking
NRB Savings A/C
NRB DPS A/C
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Retail Banking
Deposit
Loans
Cards
Literature Review
Financial statement plays a vital role among all of other aspects. Analysis of these statements is
essential to know a company much better. One foremost purpose of the financial statement
analysis is to use the past performance of a company to predict how the company will perform in
future. Another purpose would be to evaluate performance of a company with a view to identify
the problem areas. These statements are recognized & authorized by GAAP (Generally Accepted
Accounting Principles).
There are 4 main statements including income statement, Balance sheet, Statement of owners
equity and Statement of cash flow, which is mandatory to disclose to the external users like
shareholder, investors and creditors at the end of every fiscal year.
To figure out whether a company is good or bad, it is necessary to analyze the financial
statements. There are lots of tools and techniques available that would help to analyze this
financial statement. It involves the relationship of both financial statement numbers and the
trends in those numbers over time. It can identify the problem areas by evaluating financial
statements which effects the decision making process.
To analyze the performance of MTB and Prime Bank, there are several financial performance
analyze technique has been used such as Ratio Analysis, Horizontal and Vertical statements,
Risk & Return analysis etc.
Ratio
Ratio Analysis is the starting point in developing the information desired by the analyst. Ratio
analysis provides only a single snapshot, the analysis being for one given point or period in time.
In the ratio analysis it is possible to define the company ratio with a standard one. For this paper
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Capacity Ratio
This is a negative liquidity indicator for the bank because the loans and leases are often the most
illiquid of assets. When this ratio goes up, the liquidity position of the financial institutions goes
down. It is calculated as follows-
suggests greater deposit stability and a lesser need for liquidity. A high ratio indicates the greater
requirement for liquidity. It is calculated as follows-
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This ratio measures how stable a funding base each institution possesses. A decline in this ratio
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Leverage Ratios
Debt Ratio
This ratio measures the percentage of total assets that are financed through debt. The higher the
debt the more an institution is exposed to risk. This ratio is very high for financial institution. It
is calculated as follows =
Equity multiplier
This is a measure of leverage. The higher the ratio is, the more the company is relying on debt to
finance its asset base. A higher equity multiplier indicates higher financial leverage, which
means the company is relying more on debt to finance its assets. It is calculated as follows =
Efficiency Ratios
Operating Efficiency Ratio
The efficiency ratio gives us a measure of how effectively a bank is operating. It is the cost
required to generate each dollar of revenue. An increase means the company is losing a larger
percentage of its income to expenses. If it is getting lower, it is good for the bank and its
shareholders. This measures non-interest expenses as a proportion of operating revenue. Costs
include salaries, technology, buildings, supplies, and administrative expenses. Revenue includes
net interest income (interest revenue less interest expenses) plus fees. It is calculated as follows-
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Profitability Ratios
Return on Assets (ROA)
It is primarily an indicator of managerial efficiency; it indicates how capable management has
been in converting assets into net earnings. The higher the percentage is better, because that
means the company is doing a good job using its assets to generate net earnings. It is calculated
as follows =
13
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margin is, the more effective the company is at converting revenue into actual profit. The net
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number is an indication of how effective a company is at cost control. The higher the net profit
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It tells investors the percentage of money a company actually earns per dollar of sales. This
profit margin is a good way of comparing companies in the same industry. It is calculated as
follows =
15
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16
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/ =
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year.
2010
2011
MTB
12.72%
10.32%
7.04%
Prime Bank
8.79%
6.88%
7.51%
14%
12%
10%
8%
6%
MTB
4%
Prime Bank
2%
0%
2009
2010
2011
Year
In the year 2011, MTBs cash and due from depository institutions was 7.04% of total assets.
Cash position indicator of Mutual Trust Bank is decreasing year by year which is not a good
sign. This indicates that their cash in hand is decreasing and will face problems to handle
immediate cash needs.
In the last two years, we can see that MTB had better cash indicator ratio than Prime Bank which
means they had good defence against liquiditity crisis. On the other hand, in 2011, Prime Banks
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cash position indicator has increased over MTBs cash position indicator.
The total assets of Mutual Trust Bank Ltd. are increasing every year with a greater proportion
compared to cash and due from depository instituitions. That is the reason behind thedecreasing
of this ratio.
2010
2011
MTB
16.98%
14.03%
16.98%
Prime Bank
15.24%
12.55%
17.20%
30%
25%
20%
15%
MTB
10%
Prime Bank
5%
0%
2009
2010
2011
Year
In the year 2011, MTBs investment in government securities was 23.84% of total assets. Liquid
securities indicator has increased in 2011. Though it was slightly dropped in 2010. This indicates
that they have invested huge amount of money in marketable securities. They can easily sell
these securities when they need cash.
In the last two years, we can see that MTB had slighter better liquid securities indicator than
Prime Bank. On the other hand, in 2011, MTB has invested huge amount of money in
government securities compare to Prime Bank.
ratio.
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with a greater proportion compared to total assets. That is the reason behind its increasing of this
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The investment in government securities of Mutual Trust Bank Ltd. are increasing every year
Capacity Ratio
2009
2010
2011
MTB
64.20%
67.79%
60.38%
Prime Bank
71.51%
75.19%
69.72%
80%
70%
60%
50%
40%
30%
20%
10%
0%
MTB
Prime Bank
2009
2010
2011
Year
In the year 2011, MTBs net loan and leases was 60.38% of total assets. This is the lowest
percentage among the three years which is a good sign for the company in terms of liquidity
concern.
In the last three years, we can see that MTB had slighter lower capacity ratio than Prime Bank.
That means they had highest liquidity position than their competitor.
The poportionate change in net loan and losses of Mutual Trust Bank Ltd. is lower than
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poportionate change in total assets. That is the reason behind its decreasing of this ratio.
2010
2011
MTB
24.82%
33.59%
25.99%
Prime Bank
20.42%
25.40%
20.50%
40%
35%
30%
25%
20%
15%
10%
5%
0%
MTB
Prime Bank
2009
2010
2011
Year
In the year 2011, MTBs total demand deposit was 25.99% of time deposits. This decreased in
2011 from 2010. This means MTB has taken less amount of current deposit compare to time
deposit. As a result their liquidity requirement has decreased in 2011.
In the last three years, we can see that MTB had higher deposit composition ratio than Prime
Bank. That means their liquidity requirment is higher than Prime Bank.
The poportionate change in current deposit of Mutual Trust Bank Ltd. is lower than poportionate
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change in time deposit. That is the reason behind its decreasing of this ratio.
Leverage Ratios
Debt Ratio
2009
2010
2011
MTB
93.02%
92.76%
93.68%
Prime Bank
90.59%
89.05%
90.59%
95%
94%
93%
92%
91%
90%
89%
88%
87%
86%
MTB
Prime Bank
2009
2010
2011
Year
In 2011, Mutual Trust Bank has financed 93.68% of their assets by debt. It means for every 100
taka of total assets, 93.68 taka is financed by debt. This ratio is increased in the year 2011 from
2010. Though it dropped slightly in 2010.
Debt ratio of Prime Bank Ltd. was lower than that of Mutual Trust Bank Ltd. for the last three
years. Like MTB, Debt Ratio of Prime Bank has increased in 2011. It is clearly seen in the graph
that MTBs dependency on debt financing is slightly higher than Prime Bank. So risk exposure
for MTB is slightly higher than Prime Bank. If economy goes well than MTB will earn more
profit than Prime Bank but if economy goes through recession MTB will incur more loss than
Prime Bank. So Prime Bank with lower debt ratio is in a safer position.
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In 2011, proportionate change in MTBs total liabilities was more than proportionate change in
Times
Equity Multiplier
2009
2010
2011
MTB
14.32 times
13.82 times
15.83 times
Prime Bank
10.63 times
9.13 times
10.45 times
18.00
16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
MTB
Prime Bank
2009
2010
2011
Year
In 2011, MTBs total assets were 15.83 times of total assets. Equity multiplier has increased
from the year 2010. This means, MTB has financed their assets more by debt capital compare to
equity capital.
Equity Multiplier of Prime Bank Ltd. was lower than that of Mutual Trust Bank Ltd. for the last
three years. Like MTB, Equity Multiplier of Prime Bank has increased in 2011. It is clearly seen
in the graph that MTBs dependency on debt financing is slightly higher than Prime Bank. On
the other hand Prime Banks dependency on equity capital to finance their assets is slightly
above than MTB.
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Mutual Trust Bank. Thats why this ratio has increased in 2011.
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In 2011, the relative changes in total assets were more than relative changes in equity capital for
Efficiency Ratios
Operating Efficiency Ratio
2009
2010
2011
MTB
15.40%
21.53%
21.06%
Prime Bank
17.49%
20.54%
17.25%
25%
20%
15%
10%
MTB
Prime Bank
5%
0%
2009
2010
2011
Year
In 2011, the operating efficiency ratio of Mutual Trust Bank was 21.06%. It means MTB had to
spend 21.06% of their operating revenue for operating expense. This ratio had increased at a
higher percentage in the year 2010 from 2009. Though it has dropped in 2011 but the rate is very
low. This shows that overall operating efficiency is not good in 2011 compare to 2009.
The competitor of MTB, Prime Bank has achieved a wonderful position in terms of operating
efficiency in 2011. Their operating ratio was high compare to MTB in 2009. But they have
managed to control their operating expenses in 2011. This is the best position among the three
years.
In 2011, the proportionate change in operating revenues was slightly lower than proportionate
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change in operating expenses. Thats why this ration has slightly decreased in 2011.
2010
2011
MTB
3024994.98
2927785.22
2379368.67
Prime Bank
4444472.17
4579143.56
5080856.34
6000000
Unit (BDT)
5000000
4000000
3000000
MTB
2000000
Prime Bank
1000000
0
2009
2010
2011
Year
In 2011, each full time employee of Mutual Trust Bank has generated 2,379,368.67 taka revenue.
The ratio is decreasing in every year. It has decreased at a great rate in 2011 compared to
previous year. This indicates that the efficiency of the employees has gone down or in other
words the operating expense per employee has gone up.
Prime Bank, one of the competitors of MTB has done a good job in terms of employee
productivity ratio. It is increasing in year by year. This ratio has increased at a higher rate in
2011. So the employees of Prime Bank are more productive than that of MTB.
The relative changes in number of full time employee were more that relative changes in net
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operating income.
Profitability Ratios
Return on Assets (ROA)
2009
2010
2011
MTB
1.55%
1.34%
0.83%
Prime Bank
2.23%
2.01%
1.83%
2.50%
2.00%
1.50%
1.00%
MTB
Prime Bank
0.50%
0.00%
2009
2010
2011
Year
In 2011, every 100 taka worth of total assets of Mutual Trust Bank are generating 0.83 taka of
net income. This ratio is decreasing in every year. It has decreased at a higher rate in 2011. This
shows that MTB earnings is decreasing compare to investment in assets.
Like MTB, return on assets of Prime Bank is decreasing in every year. In spite of, they have
more than double return on assets in 2011 compared to MTBs return on assets. So, Prime Bank
has used their assets more efficiently to generate net income.
So the proportionate changes in net income were lower than proportionate changes in total assets
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in 2011 for MTB. That is the main reason for the downfall of this ratio.
2010
2011
MTB
22.27%
18.56%
13.14%
Prime Bank
23.71%
18.34%
19.13%
25.00%
20.00%
15.00%
MTB
10.00%
Prime Bank
5.00%
0.00%
2009
2010
2011
Year
In the year 2011, shareholders of Mutual Trust Bank have earned 13.14 taka for every 100 taka
investment in the company. This ratio is decreasing every year from the initial. The decrease rate
is quite high in every year. If this will happen in next few years, shareholder of MTB will lose
confidence to the company
The competitor of MTB, Prime Bank had higher ROE in 2009. But their return on earnings had
slightly gone down to MTBs ROE in 2010. In spite of, they have recovered wonderfully in
2011. On the other hand MTBs ROE has fallen greatly in 2011. As a result, a shareholder who
want to add a bank in his/her investment portfolio, will more likely to invest in Prime Bank.
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shareholders equity.
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The Proportionate change in net income in 2011 was less than proportionate change in total
2010
2011
MTB
1.65%
2.04%
0.84%
Prime Bank
1.95%
2.80%
2.04%
3.00%
2.50%
2.00%
1.50%
MTB
1.00%
Prime Bank
0.50%
0.00%
2009
2010
2011
Year
In the year 2011, Mutual Trust Banks net interest margin was only 0.84%. This ratio has
decreased (almost 50 percent) greatly in 2011. This shows that the loan demand has decreased in
2011 compare to the supply of deposit.
Form the graph; we can see that net interest margin of prime bank also followed similar patter
over last three years. However, net profit margin of prime bank was above than that of MTB.
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And their net interest margin also decreased less compare to MTB.
2010
2011
MTB
1.43%
0.95%
0.83%
Prime Bank
2.29%
1.20%
1.68%
2.50%
2.00%
1.50%
1.00%
MTB
Prime Bank
0.50%
0.00%
2009
2010
2011
Year
In the year 2011, Mutual Trust Banks net not-interest margin was only 0.83% similar to net
interest margin. . This ratio is increasing every year from the initial. This shows that the loan
demand has decreased in 2011 compare to the supply of deposit.
Form the graph; we can see that net interest margin of prime bank also followed similar patter
over last three years. However, net profit margin of prime bank was above than that of MTB.
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And their net interest margin also decreased less compare to MTB.
2010
2011
MTB
3.08%
2.99%
1.66%
Prime Bank
4.24%
4.00%
3.73%
4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
MTB
Prime Bank
2009
2010
2011
Year
In the year 2011, the net bank operating margin of Mutual Trust Bank was 1.66%. That means
the company has earned 1.66 taka. This ratio is decreasing in every year. It has decreased at a
higher rate (almost 50 percent) in 2011. The proportionate change in total assets was more than
proportionate in profit before provision and taxation.
On the other hand, the net bank operating margin of Prime Bank has decreased in every year
from the initial at a lower rate. And the net bank operating margin of prime bank was more than
double in 2011. This shows that how Prime bank has controlled their expense over revenue with
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2010
2011
MTB
13.78%
12.30%
7.66%
Prime Bank
16.75%
17.60%
15.07%
20.00%
18.00%
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
MTB
Prime Bank
2009
2010
2011
Year
In 2011, Mutual Trust Banks net profit margin was 7.66%. This means they have converted
7.66% of their total revenue as net income. This ratio is going down in every year. This shows
that they are not effectively managing their expense. The expense is increasing at a higher rate
than compare to the increase in revenue.
Prime Bank, one of the competitors of MTB, has managed their expense quite efficiently because
they have higher net profit margin than over the three years. Though this ratio slightly dropped in
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2011 but the rate was very lower compare to the net profit margin of Prime Bank.
2010
2011
MTB
11.28%
10.92%
10.85%
Prime Bank
13.32%
11.42%
12.15%
14.00%
12.00%
10.00%
8.00%
6.00%
MTB
4.00%
Prime Bank
2.00%
0.00%
2009
2010
2011
Year
In 2011, the
asset utilization of Mutual Trust Bank Ltd. was 10.85%. That means every 100
taka worth of total assets are generating 10.85 taka of total revenue. This ratio was quite stable
(decrease at a very lower rate) over the three years. The proportionate change in total assets was
slightly higher than proportionate change in total operating revenue.
On the other hand, Prime Bank is generating more operating revenue by using their assets.
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Though this ratio dropped at a higher rate in 2010 but they have recovered successfully in 2011.
2010
2011
MTB
3.23
3.04
2.50
Prime Bank
7.83
5.37
4.70
9.00
8.00
7.00
BDT
6.00
5.00
MTB
4.00
Prime Bank
3.00
2.00
1.00
0.00
2009
2010
2011
In the year 2011, the common shareholder of Mutual Trust Bank has earned 2.50 taka for every
share they hold. EPS is decreasing in every year from the base. So, the shareholders of MTB may
sell their share in future due to low EPS. The total number of shares outstanding was remained
same in every year where the net income has decreased in every year. That is why this ration has
decreased in every year.
The shareholders of Prime Bank have earned more than the share holders of prime bank in every
three years though it decreased in every year. Due to higher EPS, a shareholder may want to
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2010
2011
MTB
12.76
23.31
13.81
Prime Bank
8.34
17.60
9.48
25.00
20.00
15.00
10.00
MTB
Prime Bank
5.00
0.00
2009
2010
2011
Year
In the year 2011, Mutual Trust Banks shareholders were willing to pay 13.81 taka for every 1
taka of reported earnings. This ratio decreased in 2011 after a huge increase in 2010. The relative
change in market price per share was less that relative change in earnings per share.
The P/E ratio of Prime Bank was 9.48 in 2011. P/E ratio of Prime Bank was far below than that
of MTB. It shows that the shareholders of MTB are willing to pay more money for every 1 taka
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of reported earnings.
Unit (times)
2010
2011
MTB
4.12 times
7.08 times
3.45 times
Prime Bank
6.53 times
9.45 times
4.45 times
10.00
9.00
8.00
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
MTB
Prime Bank
2009
2010
2011
Year
In the year 2011, market price per share of Mutual Trust Bank was 3.45 times higher than the
book value per share. This ratio decreased in 2011 after an increase in 2010. The market price
per share has decreased in 2011 where book value per share remained same. Thats why this
ratio has fallen in 2011.
The M/B ratio of Prime Bank in 2011 was 4.45 times. This also decreased in Prime Bank in 2011
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MTB in 2011. As a result, net profit after tax in terms of total operating revenue has decreased
Prime Bank
DGEN
1.1934%
-0.0077%
1.5404%
14.3209%
-0.0926%
18.4847%
As we can see from the table that average year return of MTB is 14.3209% where average return
of Prime bank is negative (-0.0926%). So, risk adverse investor will who wants higher return will
likely to invest in the stock of MTB from these two bank. Return based on daily stock price is
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Risk
Standard Deviation
MTB
Prime Bank
DGEN
14.2598%
14.7341%
9.7591%
0.996
-159.15
0.53
1.22273
0.8961
Coefficient of Variation
Beta
The beta of MTB is = 1.2273 which is the market risk is for MTBs shares.
So, = +
14.2598 = 1.22273 +
= . %
The beta of Prime Bank is = 0.8961 which is the market risk is for Prime Banks shares.
So, = +
14.7341 = 0.8961 +
= . %
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= +
Here
MTB
Prime Bank
10.00%
10.00%
Market return ( )
18.48%
18.48%
Beta
1.22272
0.8961
20.41%
17.60%
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calculated.
Recommendation
From ratio and common size statement analysis it is clearly visible that financial performance of
Mutual Trust Bank is very poor compare to Prime Bank Limited over the last three years. So
they can overcome this hard situation by
MTB should engage more CSR (Corporate Social Responsibility). It will appreciate and
attract new investors.
Use customer deposits more efficiently to earn net interest income (by lending that
money to good borrower).
Conclusion
Finally after analyzing all the ratios and common size statement, it can be concluded that the
performance of Mutual Trust Bank was very bad in comparison with Prime Bank. The CAMELS
rating of Bangladesh Bank also tells that the performance of MTB is very poor in the previous
year. MTB was B-class bank in 2007 where Prime bank was in A-class bank on that period. Now
both are in B-class bank but the performance of MTB is not that much satisfactory compare to
Prime Bank. As an investor of common share may like to invest in MTB because of higher return
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Bibliography
About us . (n.d.). Retrieved December 15, 2012, from Mutual Trust Bank Ltd.:
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(2009-2011). Annual Report. Dhaka: Mutual Trust Bnak Ltd.
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Hudgins, S. C., & Rose, P. S. (2008). Bank Management & Financial Services (8th Edition ed.).
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