Banks’ profit soars, on paper

Net profit in the banking sector soared 33.60 per cent year-on-year to Tk 2,424 crore in the first half of 2020 despite a collapse in business and a feeble recovery of loans due to the onslaught of the coronavirus pandemic. The increase in the profit came at a time when the majority of indicators in the financial sector has been on the decline because of the economic slowdown