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The Financial Express

Islami Bank’s net profit down 13pc in 2019

The board recommends 10pc cash dividend


FE Online Report | Published: June 28, 2020 10:46:48 | Updated: June 29, 2020 10:36:02


Islami Bank’s net profit down 13pc in 2019

Islami Bank Bangladesh’s net profit after tax fell 13.14 per cent year-on-on-year for the year ended on December 31, 2019

The board of directors of the bank in a meeting held on Saturday through digital platform approved, among others, the audited financial statements for the year ended on December, 31, 2019 and recommended a dividend.

The board of directors has recommended a 10 per cent cash dividend for the year ended on December 31, 2019.

The bank’s consolidated net profit after tax stood at Tk 5,480.64 million for the year ended on December 31, 2019, which was Tk 6,310.30 million in the same period of the previous year, according to an official disclosure on Sunday.

The bank’s consolidated earnings per share (EPS) stood at Tk 3.40 for the year ended on December 31, 2019, as against Tk 3.92 for the year ended on December 31, 2018.

The consolidated net asset value (NAV) per share was Tk 36.88 for the year ended on December 31, 2019, which was Tk 34.45 in the previous year.

The consolidated net operating cash flow per share was Tk 29.06 for the year ended on December 31, 2019, as against negative Tk 2.95 for the year ended on December 31, 2018.

Each share of the company, which was listed on the Dhaka Stock Exchange in 1985, closed at Tk 16.70 on Thursday last.

Its shares traded between Tk 15.30 and 24.90 in the last one year.

The bank also disbursed 10 per cent cash dividend in 2018.

The company’s paid-up capital is Tk 16.10 billion and authorised capital is Tk 40 billion, while the total number of securities is 1.60 billion.

The sponsor-directors own 48.93 per cent stake in the bank, while the institutional investors own 12.19 per cent, foreign investors 23.54 per cent and the general public 15.34 per cent as on February 29, 2020, the DSE data showed.

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