Global Islami Bank (GIB) has faced significant financial challenges both before and after its IPO. In 2021, the bank reported a notable 28% profit increase, but its cash flow was negative, nearly double its profit for that year. After listing in 2022, GIB’s income fell by 27%, despite raising Tk 4.25 billion through the IPO. The bank’s cash flow improved to Tk 3.06 billion positive in 2022 but reverted to a negative Tk 157 million in 2023, even as income increased. Allegations of financial manipulation and political influence have raised concerns, with reports suggesting illicit fund diversion. GIB’s non-performing loan rate was reported at a low 1.72% as of 2023, compared to the industry average, possibly due to loan rescheduling rather than actual performance. The bank is also facing a Tk 320 million deficit in its central bank current account.
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