LankaBangla Finance to sell out its properties
The properties are to be sold at prevailing market price
LankaBangla Finance PLC, a non-bank financial institution (NBFI), is set to sell all of its properties — two plots and an under-construction multi-storeyed building in the Tejgaon Industrial Area.
In a stock exchange filing on Monday, the NBFI announced that the properties will be sold at the prevailing market price, with the sale being subject to the approval by the regulatory authorities.
The under-construction building, owned by the company, has 11 floors plus the ground floor and four basements, the disclosure reads.
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No official of the NBFI could be reached over phone for a comment regarding the property sell-out.
In the first half of 2023, the company's consolidated net operating income was Tk81.84 crore, a slight increase from Tk80.31 crore in the same period of 2022.
Its consolidated after-tax net profit fell by 43% year-on-year to Tk17.93 crore in the January to June period this year. Its half-yearly earnings per share stood at Tk0.32 in 2023.
LankaBangla Finance blamed reduction of interest income due to the regulator's imposition of rate cap, decrease in commission, exchange and brokerage income, and increase in provision for the decline in profit.
Last year, it paid a 10% cash dividend to the shareholders.
