Islami Bank declares no dividend; profit drops 83% in 2024
The board also approved the audited financial statement for the last year
The Islami Bank Bangladesh Ltd has decided not to pay any dividend to its shareholders for the year 2024 at a board meeting held yesterday (26 August).
The board also approved the audited financial statement for the last year at the meeting.
According to the disclosure published on its website, the bank reported a consolidated net profit of Tk108 crore in 2024, which was 83% lower than the previous year.
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The bank stated that its net profit dropped mainly due to a cost hike in deposits and the requirement for higher provisions against bad investments.
The bank further said Bangladesh Bank instructed the bank to approve the audited financial statement for the last year, keeping provision short fall of Tk69,770 crore against the classified investments.
