Three sick NBFIs incur losses again
Three poorly performing non-bank financial institutions (NBFIs) — Fareast Finance, First Finance, and Bangladesh Industrial Finance — have published their most recent financial statements, all of which show losses.
Fareast Finance and First Finance have posted quarterly financials for the April to June quarter of 2023, while Bangladesh Industrial Finance posted its annual performance for 2021.
Fareast Finance
In this April-June, the company's loss per share stood at Tk1.56, which was Tk5 in the same period previous year.
According to its half-yearly financials, the NBFI's loss per share was Tk2.13 in the first six months of 2023, which was Tk6.83 a year ago. At the end of thai June, the company's net asset value per share stood at a negative Tk40.63.
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In 2022, the company's loss per share was Tk14.06. It did not declare any dividend for that year. Its shares are stuck at the floor price of Tk5.9 each at the Dhaka Stock Exchange (DSE).
First Finance
The company's quarterly loss at the end of June 2023 stood at Tk0.70 per share, which was Tk2.10 last year.
In the first half of 2023, its per share loss stood at Tk2.61, which was Tk4.12 a year ago, and net asset value per share was negative Tk31.45 at the end of this June.
Last year, its loss per share was Tk14.52, and it did not declare any dividend for 2022. Its shares are also stuck at the floor price of Tk5.5 each at the DSE.
Bangladesh Industrial Finance
At the end of 2021, the company's loss per share stood at Tk9.78, which was Tk8.10 in 2020. The NBFI did not declare any dividend for 2021. Shares are stuck at the floor price of Tk9.50 at the DSE.
