Shahjalal Islami Bank reported a significant drop in profit in 2024 due to higher provisions against classified investments and other exposures.

The bank posted a profit of Tk 169.17 crore, a 52 percent year-on-year decline.

Its consolidated earnings per share (EPS) fell to Tk 1.52 in 2024 from Tk 3.22 the year prior, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

"EPS substantially decreased mainly due to the increase in provision for classified investments, provision for off-balance sheet items, and provision for diminution in value of investments in shares," the bank said.

The bank's consolidated net operating cash flow per share (NOCFPS) also declined to Tk 8.03 in 2024 from Tk 10.09 the previous year.

The NOCFPS dropped mainly due to higher investments in customers and increased placements with other banks and financial institutions during the year, the bank said in the disclosure.

The board of Shahjalal Islami Bank recommended a 10 percent cash dividend for the year ended December 31, 2024.

In the first quarter of 2025, the bank reported consolidated EPS of Tk 1.04, slightly down from Tk 1.09 in the same period of 2024.

However, NOCFPS rose to Tk 4.36 from Tk 1.43.

The improvement was attributed to increased investment income, a lower rise in customer investments, and reduced placements with other banks.

As of March 31, 2025, sponsor-directors held 45.30 percent of shares, institutions 18.67 percent, foreign investors 0.05 percent, and the public 35.98 percent.