Global Islami Bank rectifies 2023 figures, reports Tk2,259cr loss instead of Tk128cr profit
The bank in 2023, controlled by S Alam Group at the time, reported a profit of Tk128 crore. After the correction, loss stands at Tk2,259 crore
Global Islami Bank has revised its 2023 financial statements, revealing significant losses, despite previously reporting a profit and recommending a 5% cash and 5% stock dividend for shareholders.
In a disclosure on Wednesday, the private sector lender said after the correction, its loss per share for 2023 stood at Tk21.79, compared to the earlier reported earnings per share (EPS) of Tk1.30.
The bank in 2023, controlled by S Alam Group at the time, reported a profit of Tk128 crore. After the correction, calculating with the total 103.68 crore shares, loss stands at Tk2,259 crore in 2023.
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The bank also reported a rectified net asset value (NAV) per share of Tk9.14 and a rectified net operating cash flow per share (NOCFPS) of Tk0.16 for the year ended 31 December 2023.
However, it confirmed that there are no changes to the EPS, NAV per share, and NOCFPS figures for the audited financials of 2022.
