National Bank Limited reported a substantial loss of Tk1,123 crore in the first nine months of 2023. This loss marked a 214% increase compared to the same period in the previous year. The consolidated loss per share amounted to Tk3.49, up from Tk1.11 in 2022. The bank attributed these losses to the need to classify a significant amount of loans as non-performing due to borrowers’ inability to repay installments on time, driven by a liquidity crunch and high inflation both globally and in Bangladesh.
Consequently, the bank’s profitability and earnings per share (EPS) were significantly affected. This challenging financial situation follows a sizable loss in 2022, which resulted in the bank’s inability to pay dividends to shareholders for both 2022 and 2021. National Bank’s shares traded at Tk8.30 each, below their face value of Tk10, at the Dhaka stock exchange.
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