International Leasing incurs Tk860cr loss in 2024
The non-bank financial institution, in a recent disclosure filed on the Dhaka Stock Exchange (DSE), stated that its consolidated loss per share was Tk39.01 last year – significantly higher from Tk11.07 in the previous year
Scam-hit International Leasing and Financial Services Ltd reported that it suffered a loss of Tk860 crore in 2024.
The non-bank financial institution, in a recent disclosure filed on the Dhaka Stock Exchange (DSE), stated that its consolidated loss per share was Tk39.01 last year – significantly higher from Tk11.07 in the previous year.
Due to losses, its board failed to recommend any dividends to its shareholders for six consecutive years.
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Following the no dividend declaration, the company's share price dropped by 3.03% to close at Tk3.20 on the DSE yesterday.
Its consolidated net asset value per share stood at a negative Tk212.32 at the end of December 2024.
In the last six years, International Leasing has incurred a total loss of around Tk5,000 crore.
To approve the financial statement for 2024, the company has fixed its annual general meeting on 30 June this year, while the record date is 19 June.
International Leasing, allegedly looted and devastated by PK Halder and his associates, owes around Tk4,300 crore to its depositors and lenders, and is struggling to pay them back.
Earlier in November last year, depositors of International Leasing demanded the prosecution of former Bangladesh Bank Deputy Governor SK Sur Chowdhury and Executive Director Shah Alam, accusing them of involvement in financial misconduct.
To rescue the struggling financial institution, the court had appointed Khandaker Ibrahim Khalid, a former Bangladesh Bank governor, as its chairman. However, he subsequently resigned from the position.
After that, the central bank appointed former secretary Md Nazrul Islam Khan as the company's chairman in 2020 to recover as many company assets as possible from defaulting clients. He also resigned from the company's board.
Currently, Mahbubul Hoque acts as chairman of International Leasing.
Established in 1996 as a public limited company and licenced as a non-bank financial institution (NBFI) by Bangladesh Bank that same year, International Leasing maintained financial stability until 2015.
It got listed on the capital market in 2007. Of its total shares, sponsors and directors hold 41.54% shares, while institutional investors have 22.88%, foreign investors have 0.01% and the general shareholders have 35.57% shares in the company, according to its shareholding report for April 2025.
