National Housing incurs Tk10.31cr loss in Oct-Dec
The annual general meeting (AGM) to approve the dividend is scheduled for 21 September, with the record date set for 30 July
National Housing Finance PLC, a listed non-bank financial institution (NBFI), reported a loss of Tk10.31 crore in the October-December quarter of 2024, mainly due to a significant rise in provisions against classified loans.
According to the company's audited financial statement published on its website, the NBFI posted a net profit of just Tk29 lakh for the full year – a 98% drop compared to the previous year.
Despite the drastic fall in profits, the company's board has recommended a 10% cash dividend for the year, subject to approval from the Bangladesh Bank. To disburse the proposed dividend, the NBFI will require Tk11.70 crore, meaning a portion will be paid from its retained earnings, which currently stand at Tk30.52 crore.
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The annual general meeting (AGM) to approve the dividend is scheduled for 21 September, with the record date set for 30 July.
The company's operating income rose by 8% year-on-year to Tk52.42 crore in 2024. However, provisioning expenses soared by 95% to Tk21.93 crore due to an increase in classified loans, which significantly eroded profitability.
At the end of 2024, National Housing's total classified loans jumped by 24% to Tk159.43 crore – accounting for 11.45% of its total loan disbursement.
Meanwhile, the NBFI further reported that its net profit dropped by 20% to Tk2.82 crore in the January-March quarter of this year, compared to the previous year in the same quarter.
In the first quarter of 2025, its earnings per share stood Tk0.24, which was Tk0.30 a year ago at the same time.
At the end of March, its total disbursed loans stood at Tk1,376.64 crore, which was slightly lower than the previous year in the month. Its total fixed deposits stood at Tk1,135.74 crore, a decrease of 2.58% from the previous year at the same time.
National Housing shares closed 0.41% lower at Tk24.30 on the Dhaka Stock Exchange on Thursday.
The NBFI started its business in 1998 and got listed on the capital market in 2009. National Housing is currently operating with nine branches covering Dhaka, Chattogram, Bogura, Rangpur, Gazipur, Feni and Rajshahi districts.
Currently, its paid-up capital is Tk117 crore, while its market cap stands at Tk285 crore.
Out of its total shares, sponsors and directors hold 50.57% of shares, while the government has 9.34% of shares, institutional investors hold 11.25% of shares and the rest 28.84% is held by the general shareholders.
