National Bank incurs Tk3,260cr loss in 2022
National Bank Limited incurred a huge loss of Tk3,260 crore in 2022 as its borrowers could not repay their instalments in time and became classified.
In its price sensitive financial statement, the bank said its earnings per share (EPS) was Tk10.13 negative in the previous year. Its net profit was Tk38 crore and EPS was Tk0.12 in 2021.
Due to the high loss, the bank failed to recommend any dividend to its shareholders for the year 2022. Earlier, in 2021, it did not pay any dividend to the shareholders.
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Besides, it suffered a severe net operating cash crisis as it reported a net operating cash flow per share of Tk17.21 negative.
The bank also published its first quarter financial statement of 2023. According to the statement, its EPS was Tk0.97 negative in this period.
Its net asset value per share (NAV) also declined by 26% to Tk11.92 in the January-March quarter of this year.
In the statement, the bank said due to liquidity crunch in the market and the ongoing inflation in the world economy as well as in Bangladesh, borrowers could not repay the instalments in time and become classified.
Interest on such loans and advance could not be taken to income and consequently profitability decreased significantly, it added.
