ICB Islami Bank skips dividend as loss soars to Tk54cr in 2023
ICB Islami Bank Ltd, a listed bank on the stock market, posted losses to the tune of Tk54.64 crore in 2023, more than double the loss of Tk25 crore recorded in 2022.
Owing to the incurred losses, the bank did not recommend any dividends to its shareholders for the year ended on 31 December 2023.
According to a disclosure published on the stock exchange websites on Sunday, the company's loss per share stood at Tk0.85 for 2023, which was Tk0.38 in 2022.
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Its net asset value per share stood negative at Tk19.36, and the net operating cash flow per share stood positive at Tk0.82.
The annual general meeting of the bank will be held on 11 July through the hybrid system at TCB Auditorium, and 9 May has been fixed as the record date.
The bank got listed on the Dhaka Stock Exchange in 1990. Its shares are trading under the Z category as it failed to pay dividends for years.
Its paid-up capital is Tk664.70 crore. Out of its total shares, sponsor-directors held 52.76%, the government 0.17%, institutional investors 21.64% and the general shareholders 25.43%.
Its shares closed at Tk4.
