National Bank (NBL) incurred a staggering loss of around Tk1,500 crore in 2023, as disclosed in its annual financial report released via the Dhaka Stock Exchange (DSE) on Sunday. The bank attributed this loss to its inability to book interest on loans and advances due to non-recovery from defaulters, coupled with higher interest expenses on borrowings. Consequently, NBL recorded an operating deficit, significantly impacting its profit margins. The bank reported a consolidated negative earnings per share of Tk4.65, a sharp decline from the previous year’s Tk10.13 per share. Additionally, NBL’s consolidated net asset value per share dropped to Tk7.30 from Tk13 in 2022. Despite these challenges, the bank’s share price remained unchanged at Tk5.50 during the opening session at the DSE today. Notably, NBL did not provide the stock exchange with any information regarding dividends, annual general meetings, or the record date. Furthermore, the bank is currently undergoing the process of merging with United Commercial Bank, as per the Bangladesh Bank’s directive.
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