Social Islami Bank profit inches up, cash flow declines
The bank blames higher cash outflow through more lending and less deposit collection for the negative cash flow
Social Islami Bank and its subsidiary companies together have posted Tk0.34 in earnings per share (EPS) for the April-June period, up from Tk0.33 for the same period last year, the bank disclosed after its board meeting on Sunday.
Over the first half of 2023, the consolidated EPS stood at Tk0.47, which was Tk0.43 in the same period of 2022.
At the end of June, consolidated net asset value per share stood at Tk20.68.
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Consolidated figures include that of subsidiary companies.
However, net operating cash flow of the Shariah-based lender declined for the first six months of the year to a negative Tk2.28, from a positive Tk3.75 a year ago.
In its price sensitive information disclosure, the bank blamed higher cash outflow through more lending and less deposit collection, compared to the same period last year.
Social Islami Bank, listed in 2000, has grown its paid-up capital to over Tk1,085 crore and its shareholders have been getting 5% cash and 5% stock dividends every year since 2019.
The bank's shares, having a face value of Tk10 each, closed at the floor price of Tk11.7 at the Dhaka Stock Exchange on Sunday.
32% of the company stocks are owned by its sponsor-directors, institutional investors hold 48.41%, foreign investors 1.18% and the general public hold the remaining 18.35% shares of the bank.
