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National Bank disclosed a loss of Tk 7.63 billion for the April -June quarter this year,
4.65-time greater compared to the loss incurred in the same period last year.
The financial result is not surprising given the hefty amount of non-performing loans - more than 40 per cent - the lender has.
The lender's net interest income is negative. It has been paying more in interest than what it earns.
Moreover, due to its cash crunch, National Bank has also failed to increase earnings from investments in government securities and shares. Because of its poor performance, income from other sources has also been shrinking.
On the other hand, provision requirements shot up amid rising NPLs.
In the six months through June, the bank's loss per share jumped to Tk 3.06 from a loss of Tk 1.99 for the same period a year earlier.
Its liability has already crossed the value of assets so NAV turned negative.
Meanwhile, the bank's stock slumped by 2.63 per cent to Tk 3.70 per share on Wednesday on the Dhaka Stock Exchange (DSE).
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