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Prime Finance & Investment Ltd returns to profit

14 Jul 2019, 18:48

Online Desk

Dhaka: Prime Finance and Investment Ltd, country’s leading financial agency, has returned to profit spree in 2018 fiscal year by overcoming losses in last few years, said a company statement.

The company’s management has made the announcement in line with the audited financial statement approved in its 23rd Annual General Meeting (AGM) held recently in the capital, said a press release on Sunday.

The meeting was presided over by Chairman, Board of Directors, Mohammad Masudur Rahim.

Masudur Rahim announced that Prime Finance made Tk 5 crore and 89 lakh in profit last year — a pleasing achievement which will bring confidence of the clients and investors back.

He said restructuring of the board, adopting a five-year plan and its implementation, recovery of default loans, proper management of subsidiaries and associate companies and cost-cutting policy have contributed to the company’s ambition to overcome losses and make profit.

The management is hopeful in continuing the success in the current financial year.