Mercantile Bank PLC
Profile
- Total assets
- ৳444,690,300,000
- Deposits
- ৳342,724,250,000
- Gross NPL
- 17.25%
- CRAR
- — (n/a)
- Net profit
- ৳631,220,000
- Chairman
- Md. Anwarul Haque
- MD/CEO
- Md. Mati Ul Hasan
- Rating
- AA
Mercantile Bank is under significant stress: classified loans reached BDT 5,176 crore (17.25% NPL ratio) at end-2024, a 199% YoY surge; provision shortfall of BDT 1,700.86 crore barred dividend for FY2024; net profit collapsed 68% to BDT 64.95 crore; bank is ranked 21st among 31 listed banks in the Bonik Barta 2024 composite ranking. FY2025 results due April 30, 2026 have not yet been publicly disclosed as of May 20, 2026. Bank is among those disqualified from dividend payouts under BB's elevated-NPL policy.
Recent activity
- 2024-09-01 appointment Md. Anwarul Haque elected Chairman of Mercantile Bank PLC effective 1 September 2024 at the bank's 448th Board meeting; previously served as Vice-Chairman and Chairman of the Executive and Risk Management Committees. ↗↗
- 2024-11-30 appointment Md. Mati Ul Hasan appointed Managing Director of Mercantile Bank PLC effective 30 November 2024, promoted from Additional Managing Director and Chief Risk Officer; brings 41 years banking experience including 10 years at MBL. ↗↗
- 2025-04-29 earnings Mercantile Bank PLC reported FY2024 consolidated net profit of BDT 64.95 crore (BDT 649.5 million), a 68% year-on-year decline; EPS fell to BDT 0.58 from BDT 1.86 in 2023; NAVPS BDT 23.75; NOCFPS BDT 17.80; classified loans surged 199% YoY to BDT 5,176 crore (17.25% NPL ratio); provision shortfall of BDT 1,700.86 crore reported; board declared no dividend for FY2024. ↗
- 2025-07-20 earnings 26th Annual General Meeting of Mercantile Bank PLC held on 20 July 2025; shareholders approved Balance Sheet as at 31 December 2024; no dividend recommended for FY2024 due to provision shortfall; MD Mati Ul Hasan presented outlook for FY2025. ↗↗
Provenance & notes
Establishment: incorporated 20 May 1999, commenced operations 2 June 1999; established_year set to 1999 per official sources (Banglapedia, EMIS). Branch count 153 + 48 sub-branches, 200 ATMs, 11 CRMs, 188 agent banking outlets, 45 Islamic windows, 2 offshore banking units from the official website About page (mblbd.com/aboutus). Employee count 2,646 from stockanalysis.com company profile (sourced per their DSE disclosure). Paid-up capital BDT 11,066 million (1,106.6 crore) from stockanalysis.com FY2024 balance sheet 'Common Stock' line; the authorized capital was BDT 8,000 crore per an earlier Banglapedia entry but current figure not confirmed from primary source, set to null. Government ownership 0% (private bank); foreign ownership not confirmed from available primary sources, set to null. Chairman Md. Anwarul Haque appointed effective 2024-09-01 at 448th board meeting per TBS and Dhaka Tribune. MD/CEO Md. Mati Ul Hasan effective 2024-11-30 per TBS and Daily Star. Total assets BDT 444,690.30 million from official website 'About' page financial highlights table (2024 figures). Deposits BDT 342,724.25 million, loans BDT 300,025.11 million from same source; stockanalysis.com balance sheet shows slightly different figures (total assets 447,584M, deposits 339,096M, loans 304,054M) likely reflecting standalone vs consolidated differences; official website figures used as primary. Net profit BDT 631.22 million from official website (standalone); consolidated net profit BDT 649.5 million (64.95 crore) per TBS news (difference due to consolidation adjustments). NPL BDT 5,176 crore (51,760 million) representing 17.25% of total loan portfolio, per audited statement disclosed to DSE per TBS reporting on the dividend decision. EPS BDT 0.58, NAVPS BDT 23.75 confirmed at 26th AGM. Provision shortfall: BB assessment showed BDT 2,121.19 crore shortfall; after BDT 200 crore partial offset, net shortfall BDT 1,700.86 crore. CAR not retrieved from primary source (not disclosed in press summaries); total regulatory capital BDT 38,748.56 million shown on official website suggests CAR is well above minimum given total assets, but exact ratio not confirmed. CRISL rating AA/ST-2 valid until July 9, 2026 from BB ECAI rating list for 2025-26. Subsidiaries: Mercantile Bank Securities Ltd (100%), MBL Asset Management Ltd (100%), Mercantile Exchange House (UK) Ltd (100%). verification_status=partial: total assets and NPL from two partially consistent sources (official website vs press); CAR not confirmed; foreign ownership not retrieved; some financial ratios (ROA, ROE) not available in press summaries.
Sources
- https://www.mblbd.com/aboutus
- https://www.mblbd.com/aboutus/bod
- https://stockanalysis.com/quote/dse/MERCANBANK/financials/balance-sheet/
- https://stockanalysis.com/quote/dse/MERCANBANK/financials/
- https://stockanalysis.com/quote/dse/MERCANBANK/company/
- https://www.tbsnews.net/economy/stocks/mercantile-bank-withholds-dividend-amid-tk1700cr-provision-shortfall-1162971
- https://www.tbsnews.net/economy/corporates/md-anwarul-haque-elected-chairman-mercantile-bank-937636
- https://www.dhakatribune.com/business/banks/356887/md-anwarul-haque-new-chairman-of-mercantile-bank
- https://www.tbsnews.net/economy/corporates/mercantile-bank-appoints-new-managing-director-1006206
- https://www.thedailystar.net/business/economy/banks/news/mati-ul-hasan-made-new-md-mercantile-bank-3765301
- https://www.tbsnews.net/economy/corporates/mercantile-bank-holds-26th-annual-general-meeting-1192336
- https://www.dhakatribune.com/business/banks/386886/mercantile-bank-holds-26th-agm
- https://en.banglapedia.org/index.php/Mercantile_Bank_Limited
- https://en.wikipedia.org/wiki/Mercantile_Bank_(Bangladesh)
- https://www.emis.com/php/company-profile/BD/Mercantile_Bank_Plc_en_4049575.html
- https://en.bonikbarta.com/business/CjWtvRDWI1Rs9ikV
- https://www.thedailystar.net/business/economy/news/more-half-local-banks-ineligible-dividend-payouts-4165041
- https://www.bb.org.bd/fnansys/ecai_rating/ecai_credit_rating.pdf