Bangladesh Finance posts lower profit in 2022

Bangladesh Finance Limited registered an 8 per cent year-on-year decline in profit to Tk 23.52 crore last year, owing to the suspension of additional interest and provisions against stressed loans.

The profit stood at Tk 25.6 crore in 2021, according to a disclosure on the Dhaka Stock Exchange.

Thus, the non-bank financial institution reported consolidated earnings per share of Tk 1.25 for the year that ended on December 31, which was Tk 1.36 in 2021.

The financial performance declined for providing additional interest suspension and provisions against stressed loans and the decrease in income from investment in securities, Bangladesh Finance said.

The consolidated net asset value per share surged to Tk 17.41 in 2022 from Tk 6.21 in 2021 whereas the consolidated net operating cash flow per share (NOCFPS) plummeted to Tk 0.66 from Tk 6.21.

The consolidated NOCFPS decreased due to a fall in interest income, income from investment in securities and an increase in borrowing, the filing said. 

The board of directors of Bangladesh Finance recommended a 10 per cent cash dividend for 2022.

Shares of Bangladesh Finance were unchanged at Tk 44.10 on the DSE today.