Shahjalal Islami Bank profit drops 53% in 2024
Despite the profit fall, the bank has recommended a 10% cash dividend for shareholders
Shahjalal Islami Bank has reported a 53% year-on-year decline in consolidated net profit, amounting to Tk169 crore in 2024, according to a price-sensitive statement approved at its board meeting today (30 April).
Despite the profit fall, the bank has recommended a 10% cash dividend for shareholders for the last financial year.
The bank's consolidated earnings per share (EPS) dropped to Tk1.52, down from Tk3.22 in the previous year.
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The Annual General Meeting (AGM) to approve the dividend is scheduled for 25 June, with the record date set for 22 May.
The bank attributed the significant drop in profit to higher provisions for classified investments, off-balance sheet items, and losses from investments in shares.
