The National Bank of Bangladesh has faced a significant setback in its financial performance, with its losses soaring by a staggering 145 % year-on-year in the first quarter of 2024. The bank reported a loss amounting to Tk 766.29 crore during this period, painting a grim picture of its financial health.
This decline marks a troubling trend over the past three years, with the bank’s losses growing more than 13 times. In the first three months of 2023, it reported a loss of Tk 311.85 crore, followed by another loss of Tk 56.94 crore in the corresponding period of 2022. The bank attributed its mounting losses to several factors, including its inability to book interest on loans due to non-recovery from defaulters and higher interest expenses on deposits and borrowings.
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