Prime Finance struggles to pay outstanding dues
78% of Prime Finance’s loans are classified, while its cumulative loss stands at Tk351 crore.
Non-bank financial institution (NBFI) Prime Finance & Investment Ltd, struggling with high non-performing loans, accumulated losses and an inability to repay depositors, has sought a waiver of a Tk14.045 million fine imposed by the Dhaka Stock Exchange (DSE).
According to Bangladesh Bank data, 78% of Prime Finance's loans are classified, while its cumulative loss stands at Tk351 crore. The central bank has identified the company as among the NBFIs deemed unviable, based on indicators including depositor repayment failures, high non-performing loans, and capital shortfalls.
In an application to the Bangladesh Securities and Exchange Commission (BSEC) chairman, Prime Finance said the DSE imposed the fine on 18 June for failing to submit its audited annual financial statements for 2022, its first three quarterly statements of 2023 and audited annual financial statements for 2023 within the stipulated deadlines.
The company attributed the delays to Bangladesh Bank's Financial Institutions Inspection Department (FICL) inspection and reporting process, saying they were not intentional.
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Prime Finance said it could not finalise its 2022 financial statements without the FICL inspection report. Although Bangladesh Bank completed the inspection for the year ended 31 December 2022, it provided the company with the "quick summary" only on 24 March 2024.
As a result, Prime Finance could not finalise its 2022 accounts or hold its annual general meeting (AGM) in 2023. It later obtained High Court permission under Sections 80 and 81 of the Companies Act, 1994, and held the 2022 AGM on 27 May 2025 before submitting the financial statements to the BSEC, DSE and Chittagong Stock Exchange (CSE).
A similar delay affected its 2023 accounts. Bangladesh Bank provided the FICL inspection "quick summary" for the year ended 31 December 2023 on 6 August 2025, according to Prime Finance. The company said it therefore could not finalise its 2023 accounts or hold the AGM within 2024.
The delays also affected subsequent reporting, with the company saying its annual and quarterly financial statements for 2024 and 2025 could not be submitted within the prescribed deadlines.
Weak financial position
Prime Finance's financial weakness is also reflected in its stock market performance, with its shares currently traded in the DSE's Z category.
The company has not declared a dividend since FY2019 and reported a Tk151 crore loss in FY2023. Its loss per share stood at Tk2.85 for January-September 2024, while its net asset value per share was negative Tk0.39, according to the latest available information. Its shares closed at Tk2.90 in the latest DSE session.
As of August 2026, sponsors and directors held 59.14% of Prime Finance's shares, institutional investors 4.85% and foreign investors 0.01%, while general investors held the remaining 36%.
Meanwhile, Bangladesh Bank data show that 20 troubled NBFIs had total loans of Tk25,808 crore, of which Tk21,462 crore, or 83.16%, were classified. Their total deposits from individual customers stood at around Tk4,971 crore.
Prime Finance has urged the BSEC to consider the interests of ordinary shareholders and depositors, as well as the public interest, and direct the DSE to waive the fine.
The company maintained that the reporting delays resulted from Bangladesh Bank's inspection and reporting process rather than any intentional failure to comply.
