NCC Bank to expand Shariah-compliant footprint with 20 new branches
The bank stated that the conversion process will be carried out in strict accordance with the “Guidelines for Conversion of a Conventional Bank to an Islamic Bank” and other relevant regulatory frameworks issued by the central bank.
NCC Bank is set to scale up its Shariah-compliant operations after receiving in-principle approval from Bangladesh Bank to convert 20 of its conventional branches into full-fledged Islamic banking units.
According to a price-sensitive disclosure filed with the Dhaka Stock Exchange today (19 August), the central bank communicated its approval through a letter dated 17 August 2026.
The bank stated that the conversion process will be carried out in strict accordance with the "Guidelines for Conversion of a Conventional Bank to an Islamic Bank" and other relevant regulatory frameworks issued by the central bank.
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Currently, NCC Bank operates a very limited Islamic banking network, with only four dedicated branches in Dhaka, Chattogram, Feni, and Thakurgaon. The addition of 20 more branches represents a fivefold expansion of its dedicated Shariah-based service points, reflecting the growing demand for Islamic financial products in the country.
Despite the news of a strategic expansion, the bank's shares saw a marginal correction on the premier bourse. NCC Bank's share price edged down by 0.65% to settle at Tk15.20 today.
Meanwhile, the lender reported a consolidated earnings per share of Tk2.08 in the first half of 2026, marking a 12% growth from Tk1.86 in the corresponding period of 2025.
The bank attributed the rise in profitability primarily to an increase in investment income and the recovery of provisions previously kept against shares.
At the end of June 2026, the bank's consolidated Net Asset Value per share stood at Tk26.39, up from Tk26.15 in December 2025.
However, the bank's cash flow position witnessed a decline. The consolidated net operating cash flow per share dropped to Tk6.68 for the first six months of 2026, compared to Tk10.96 in the previous year.
The bank explained that the decline in cash flow was due to a surge in the purchase of government securities for trading, higher loan disbursements, and advance payments for office rents during the reporting period.
