National Bank won’t pay dividend for 2023
National Bank has decided not to pay any dividend to its shareholders for 2023 yesterday – eight months after disclosing the annual financials in April.
The bank's shares declined by 1.89% to Tk5.20 each on Monday at the Dhaka Stock Exchange.
The private sector lender has scheduled its annual general meeting for 12 February 2025. To identify its shareholders, the record date has been fixed for 16 January, according to a stock exchange filing.
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The April disclosure showed the bank incurred a loss of around Tk1,500 crore in 2023. The private sector lender mentioned that, during the year, it was unable to book interest on loans and advances due to non-recovery from defaulters.
The bank also faced higher interest expenses on borrowings. As a result, the year concluded with an operating deficit, which significantly impacted the bank's profit margins.
In the first nine months of 2024, the bank incurred a loss of Tk1,766 crore. During the same period in 2023, its consolidated net loss was Tk1,123 crore, according to its quarterly report.
