DSE

Bangladesh Finance Limited, a concern of Anwar Group, reported a loss of Tk780 crore in 2024 — the highest in its history — primarily due to high provision requirements against mounting classified loans.

Due to the staggering losses, the board of the non-bank financial institution (NBFI) recommended withholding dividend payments to shareholders for the fiscal year during its Thursday meeting, according to company sources.

The company has not yet published its full financial results for the previous year. To approve the financial statements and dividend declaration, the NBFI will hold its annual general meeting (AGM) on 29 May, with a record date of 8 May set to determine shareholders eligible for voting rights.

According to its price-sensitive disclosure, Bangladesh Finance reported a consolidated net loss of Tk780 crore for the fiscal year — a staggering 643% increase year-on-year. The company’s loss per share ballooned to Tk41.61 in 2024 from just Tk5.60 in the previous year.

In its official statement, the company announced that the board has recommended against dividend distribution for the fiscal year, citing the net loss after tax and resulting negative equity position on a consolidated basis.

The record loss was primarily attributed to substantial provisions made against non-performing loans, leases, and advances, in compliance with Bangladesh Bank’s regulatory requirements. 

Furthermore, additional provisions were allocated to cover negative equity positions in margin loans, equity investments, and private placements, demonstrating the company’s commitment to prudent risk management practices.

While these necessary provisioning measures have impacted short-term profitability, they were implemented to strengthen the company’s financial position and ensure long-term sustainability. 

The board has consequently prioritised capital preservation and balance sheet resilience over immediate dividend payouts, while maintaining focus on recovery efforts and the creation of enduring shareholder value, the statement emphasised.

Meanwhile, the company reported a negative consolidated net asset value per share of Tk30.05, primarily driven by accumulated retained losses that eroded its asset base and resulted in significant net liabilities.

Additionally, Bangladesh Finance faced operational liquidity challenges, with net operating cash flow per share standing at negative Tk0.61 for the period.

Its share closed at Tk10 on Thursday at the Dhaka bourse. In the last nine days, its share price dropped around 24%.

Industry overview

According to Bangladesh Bank data, loan growth across most banks and non-bank financial institutions (NBFIs) remained subdued, with NBFI loan growth registering a modest 3.14% year-on-year. This sluggish expansion is largely attributed to the slowdown in private sector credit, which declined to 7.24% in December 2024, amid elevated interest rates and persistent inflationary pressures.

Customer confidence has also been dampened by sectoral disruptions and mismanagement, resulting in weak deposit growth among NBFIs — up only 1.12% from 2023.

Meanwhile, the classified loan ratio for both banks and NBFIs rose sharply, reflecting broader macroeconomic stress and institutional inefficiencies. As of September 2024, total classified loans in the NBFI sector climbed to Tk26,200 crore, accounting for 35.52% of total outstanding loans — up from 31.55% a year earlier.

The weighted average interest rate (WAIR) on NBFI loans rose to 12.55% in September 2024, compared to 10.37% in December 2023. Similarly, the WAIR on deposits increased to 10.57% in December 2024 from 8.53% a year earlier, resulting in a wider interest rate spread than in recent years, according to the central bank.

IDLC Finance PLC has reported a standout financial performance for 2024, closing the year with a standalone net profit after tax of Tk 167.3 crore—up 53% from the previous year. On a consolidated basis, net profit stood at Tk 200.3 crore, reflecting a 32% year-on-year increase.

Earnings per share rose to Tk 4.82, compared to Tk 3.64 in 2023. Customer deposits grew to Tk 8,391 crore, while the company maintained a healthy loan portfolio of Tk 11,397 crore.

IDLC’s Return on Equity (ROE) climbed to 10.33%, and Return on Assets (ROA) improved to 1.35%, signalling efficient use of both capital and assets. The Non-Performing Loan (NPL) ratio dropped to 4.45%, significantly lower than the industry average, supported by a provision coverage ratio of 106.11%.

The group’s subsidiaries—IDLC Securities Limited, IDLC Investments Limited, and IDLC Asset Management Limited—also sustained their momentum, contributing to the overall robust financial results.

The company’s 351st Board Meeting, held at its corporate head office in Gulshan, approved the financial statements for 2024 and proposed a 20% dividend—15% in cash and 5% in stock—to enhance capital strength.

The Board credited the strong results to strategic focus, sound governance, and long-term vision amid a challenging economic environment. Looking ahead, IDLC reaffirmed its commitment to building a sustainable, inclusive, and future-ready financial institution.

https://www-tbsnews-net.cdn.ampproject.org/c/s/www.tbsnews.net/economy/corporates/idlc-reports-53-profit-growth-2024-declares-20-dividend-1118806?amp

IDLC

২০২৪ সমাপ্ত অর্থবছরে আইপিডিসি ফাইন্যান্স পিএলসি অভিনব আর্থিক সাফল্য অর্জন করেছে। প্রতিষ্ঠানটি বছরে ১,৭৬৫ মিলিয়ন টাকা পরিচালন মুনাফা অর্জন করেছে, যা বিগত বছরের তুলনায় ৩৫.৮% প্রবৃদ্ধিকে নির্দেশ করে।

২০২৪ সালের শেষে আইপিডিসির মোট সম্পদ পোর্টফোলিও দাঁড়ায় ৭৯ হাজার ৪৮ মিলিয়ন টাকায়, যা বিগত বছরের তুলনায় ৫.৩% বেশি। সরকারি সিকিউরিটিজ ও অন্যান্য আর্থিক উপকরণ নিয়ে গঠিত বিনিয়োগ পোর্টফোলিওতে একই সময়ে উল্লেখযোগ্য ১১০.৫% প্রবৃদ্ধি লক্ষ্য করা গেছে। এর ফলে বিনিয়োগ আয় ৪৫২ মিলিয়ন টাকা বৃদ্ধি পেয়েছে, যা ১৯৪.৬% প্রবৃদ্ধির প্রতিফলন।

ঋণ পোর্টফোলিওতে সামান্য মন্দা দেখা গেলেও, ২০২৪ সালে আইপিডিসির মোট সুদ আয় ৮ হাজার ৮১১ মিলিয়ন টাকায় পৌঁছায়, যা পূর্ববর্তী বছরের তুলনায় ১৮.৫% বেশি। এই বৃদ্ধির প্রধান প্রভাবক ছিল উচ্চতর সুদের হার। তবে, আমানত হিসাবের উর্ধ্বমুখী ব্যয়, বাংলাদেশ ব্যাংক কর্তৃক নীতি সুদের হার বৃদ্ধি এবং দেশের আর্থিক খাতে সার্বিক তারল্য পরিস্থিতির নাজুক অবস্থার দরুন সুদ খরচ ২৮.১% হারে বেড়েছে।

এসব প্রতিকূলতার মাঝেও, ২০২৪ সালে মোট পরিচালন আয় ১১.৭% বৃদ্ধি পেয়ে ৩,২৪২ মিলিয়ন টাকায় পৌঁছায়, যার মূল চালিকাশক্তি ছিল বিনিয়োগ আয়। ফলস্বরূপ, নিট মুনাফা দাঁড়িয়েছে ৩৬৩ মিলিয়ন টাকা, যা বিগত বছরের তুলনায় ৫.৯% বেশি।

চলমান সামষ্টিক অর্থনৈতিক পরিস্থিতি বিবেচনায় নিয়ে আইপিডিসি কর্পোরেট ঋণে রক্ষণশীলতা অবলম্বন করেছে এবং ছোট পরিসরের এসএমই অর্থায়ন, ভোক্তা ঋণ ও ঝুঁকিমুক্ত সরকারি সিকিউরিটিজে বিনিয়োগে জোর দিয়েছে। এই কৌশলগত পদক্ষেপের ফলে, ২০২৩ সালের ১,৬১২ মিলিয়ন টাকা থেকে ২০২৪ সালের শেষে সরকারি সিকিউরিটিজে বিনিয়োগ বেড়ে দাঁড়িয়েছে ৫,২০৬ মিলিয়ন টাকা।

আইপিডিসি বছরজুড়ে ঝুঁকি ব্যবস্থাপনায় সতর্ক থেকেছে এবং দেশের সামগ্রিক অর্থনৈতিক চ্যালেঞ্জ থাকা সত্ত্বেও খেলাপি ঋণের হার ৫.৮৩%–এর মধ্যে ধরে রাখতে সক্ষম হয়েছে। প্রতিষ্ঠানটি ক্ষয়িষ্ণু সম্পদের বিপরীতে পর্যাপ্ত প্রভিশন নিশ্চিত করেছে, যার ফলে ২০২৪ সালের শেষে মোট প্রভিশন দাঁড়ায় ৩,৫৭১ মিলিয়ন টাকা—১৮.৪% প্রবৃদ্ধিসহ।

সম্পদের দক্ষ ব্যবহার, প্রয়োজনীয় পদে নির্বাচিত নিয়োগ এবং আধুনিক কার্যপ্রক্রিয়ার মাধ্যমে পরিচালন খরচ ১২৪ মিলিয়ন টাকা বা ৭.৮% হ্রাস করা সম্ভব হয়েছে, যা দলগত স্থিতিশীলতা বজায় রেখেই অর্জিত হয়েছে।

২০২৪ সালের শেষে গ্রাহক আমানতের পরিমাণ দাঁড়িয়েছে ৫১ হাজার ৭৬১ মিলিয়ন টাকা, যা খাতভিত্তিক কিছু দুর্বল ব্যবস্থাপনার কারণে আস্থা সংকট সত্ত্বেও ২.১% প্রবৃদ্ধিকে নির্দেশ করে। বর্তমানে আইপিডিসি এনবিএফআইদের মধ্যে মোট আমানতের ১১%–এরও বেশি বাজার হিস্যা ধরে রেখেছে, যা প্রতিষ্ঠানটির দৃঢ় অবস্থানকে প্রতিফলিত করে।

আইপিডিসি ফাইন্যান্সের ৩৫.৮ শতাংশ প্রবৃদ্ধি অর্জন

IPDC

The managing director of Beacon Pharmaceuticals has been identified as a manipulator of the stock of Khan Brothers PP Woven Bag Industries in 2023 and accordingly penalized for the misconduct.

He, however, acted in collaboration with his kith and kin and his company officials. Now, all of them are facing an aggregate penalty of Tk 8.7 million.

The individuals and companies that will have to pay the fines are Mohammad Ebadul Karim, managing director of Beacon Pharmaceuticals; Risana Karim, Ulfat Karim, Beacon Medicare, Beacon Medicare Employees CPF, Beacon Developments, Md Sohel Alam, Mijanur Rahman, Md Azad Hossain Patwary, Md Nasir Hossain and Md Akter Hossain.

The securities regulator asked them to deposit the money within 30 working days from March 19 and warned of further actions for non-compliance.

The Bangladesh Securities and Exchange Commission (BSEC) also fined four individuals and 21 companies Tk 17.8 million in total for artificially inflating the stock price of Alltex Industries in 2022.

The fines were imposed following hearings held on the basis of investigation reports submitted by the Dhaka Stock Exchange (DSE). The BSEC announced the penalties on its website on Wednesday.

According to the probe findings, the manipulators had engaged in coordinated transactions within their networks, creating a false impression that the stocks were in high demand even in the bearish market.

The inquiry team randomly examined documents collected from different TREC [Trading Rights Entitlement Certificates] holders of clients who had transacted shares of Khan Brothers and Alltex Industries.

The manipulators artificially drove up the stock prices through multiple brokerage firms and several beneficiary owner’s (BO) accounts.

What happened to Khan Brothers?

The DSE inquiry team looked into Khan Brothers’ price movement between March 5, 2023 and July 13, 2023 on the prime bourse. It learnt that the stock jumped 196 per cent or Tk 19.40 each share to Tk 29.30 per share during the time.

The stock of Khan Brothers closed at Tk 133.2 per share on Wednesday on the Dhaka bourse despite the company’s poor business performance, which indicates that the stock is still subject to artificial rallies. The company made losses of Tk 48 million in the four years to FY23. It then reported a profit of Tk 0.86 million for FY24 and paid only 1 per cent cash dividend for the year.

Analyzing the relevant documents, the DSE team concluded that Beacon Group & associates had directly and indirectly influenced the stock’s movement on the bourse in 2023 by creating a demand for the stock.

Beacon Group further violated the securities rules as it held more than 10 percent stake in Khan Brothers during the period without prior declaration.

As per the securities and exchange ordinance 1969, any investor, who wants to hold or acquire more than 10 per cent shares of a listed company, must announce their intention through the stock exchanges before trading in the shares.

However, they did not follow the rule. So, it is deemed that Beacon Group transacted shares “unfairly” to get benefits, according to the BSEC.

The manipulator gained Tk 1.18 million through price manipulation while unrealized gains amounted to Tk 41.1 million.

The BSEC said Beacon Group’s clarification regarding the transactions was not acceptable. So, it imposed a fine of Tk 8.70 million on Beacon Group and its accomplices.

Stock manipulation of Alltex Industries

The DSE inquiry team conducted an investigation into Alltex Industries’ price movement between December 27, 2021 and March 22, 2022.

During the time, the stock soared 88.6 per cent to Tk 28.1 per share.

Investigators revealed that Md Masudur Rahman, Md Sheikh Jashim Uddin and their associates had traded in shares of Alltex Industries to push the price up.

They influenced buy-and-sell activities in the stock using 28 BO accounts opened with multiple brokerage firms.

They collectively bought 5.12 million Alltex shares and sold 7.11 million, accounting for 27.55 per cent of the total trade volume of the stock during the period.

The manipulators realized capital gains of Tk 20.73 million during the time.

They too have to deposit the fines within 30 working days from March 27. Otherwise, further actions will be taken, said the market watchdog.

https://today.thefinancialexpress.com.bd/stock-corporate/beacon-pharma-md-fined-for-inflating-price-of-khan-brothers-1744825273

Kbppwbil

After failing to hold its annual general meeting (AGM) for fiscal year 2023–24, National Tea Company, a listed firm on the stock exchange, has now also failed to publish its financial statements for the last two quarters of the current fiscal year, up to December 2024, keeping investors in the dark.

Both failures — not holding the AGM and not disclosing six months’ financials — constitute non-compliance with stock exchange listing rules.

As a result, the primary regulator of the listed companies, the Dhaka Stock Exchange (DSE), issued a letter in mid-last month to the company, seeking an explanation for these non-compliances, according to sources.

However, the government-owned listed firm has been struggling to operate amid a fund crisis and political unrest, following a regime change in August last year triggered by mass protests.

As a result, its financial losses have continued to mount, with the tea producer incurring heavy losses over the past five fiscal years, according to its financial statements.

When contacted regarding the non-compliance, National Tea’s Company Secretary AK Azad Chowdhury did not respond to multiple phone calls.

Md Shakil Rizvi, a shareholder-director at the company, told The Business Standard that the company failed to submit its half-yearly financials due to a lack of manpower and it has applied to the regulator for a three-month extension to submit the reports.

“However, we have yet to receive a response from the Bangladesh Securities and Exchange Commission (BSEC),” he said.

When asked about the company’s current situation, Rizvi said, “National Tea ran into trouble during the [Covid-19] pandemic, as tea production took a hit. Since then, it has been struggling to stay afloat due to loan burdens. Also, many irregularities occurred in past years.”

He added, “Now, the situation is so dire that the company has even failed to pay its electricity and other utility bills due to a fund crisis.”

Meanwhile, TBS obtained a copy of the company’s reply to the DSE, in which it stated that the non-compliance occurred due to the non-submission of half-yearly financials for the current fiscal year.

3-month time extension sought 

In the letter, National Tea submitted a time extension prayer for three months for submission of un-audited quarterly financial statement for the period ended on 31 December.

“It is to be mentioned here that due to the July-August political matter and its after effect the activities of the company hampered severely. Also due to resignation of six directors in August, the board committees became ineffective. Also after the resignation of a chief financial officer of the company, it became very difficult for the finance and accounts department to prepare financial reports with manpower constraints,” reads the letter.

Despite this finance and accounts department worked hard to prepare the financial statements within an extended time, it added.

The letter also states that the board of directors and its committees have been formed and they started activities in full swing. “We are hopeful to clear the backlog of works within the shortest possible time,” reads the letter.

Considering its present situation, the company requested the DSE to exempt the penalty of Tk5,000 per day upon delayed submission of the second quarter financial statement.

According to its disclosures published on the DSE website in January this year, National Tea incurred a loss of Tk107.49 per share, which is higher than Tk96.24 loss for per share. 

In September 2022, the company decided to increase its paid-up capital through private placements among the existing shareholders to raise Tk279 crore to support the business growth (field and factory development), finance the working capital need along with repayment of bank loan.

The company planned to increase its paid-up capital from Tk6.6 crore to Tk30 crore to comply with regulatory requirements.

In October 2024, the BSEC formed a three-member inquiry committee to investigate various issues related to the placement of shares and financial dealings of National Tea.

Also, the commission decided to extend the subscription period for National Tea’s placement shares until 31 March 2025.

The extension depends on the government maintaining at least a 51% share in the company and will only be allowed to utilise the funds if the condition is met, the regulator said.

Although the extended time expired, as per sources, the subscription of placement shares is yet to be completed.

NTC
https://www.tbsnews.net/economy/stocks/steeping-trouble-national-tea-keeps-investors-dark-1118016

The Dhaka Stock Exchange (DSE) has sought an explanation from Beacon Pharmaceuticals regarding why the medicine manufacturer stopped its exports abroad without issuing any disclosure on the website of the premier bourse.

The DSE informed shareholders about seeking clarification from Beacon through a disclosure yesterday.

On March 27, the Dhaka bourse sent the query to Beacon based on a news item published in The Daily Star on the same day.

Today, the drug maker issued a disclosure on the DSE website, stating:

“Beacon Pharmaceuticals PLC has always remained committed to complying with the regulatory requirements of Dhaka Stock Exchange PLC.”

“As a publicly listed company, we consistently publish our Financial Statements and Price Sensitive Information (PSI) on a quarterly basis. In addition, our Annual Report provides a comprehensive overview of the company’s financial performance, strategies, and other relevant disclosures.”

“Regarding the sale of products to Beacon Medicare Limited, we would like to confirm that such transactions are part of our strategic and technical collaborations, and they are carried out in full compliance with the applicable regulations of the Exchange,” the pharma company added.

Today, the stocks of Beacon Pharmaceuticals PLC dropped 1.97 percent to Tk 119.5 on the DSE.

ইউনাইটেড কমার্শিয়াল ব্যাংক (ইউসিবি) ২৯০ কোটি টাকার বকেয়া ঋণ আদায়ের লক্ষ্যে শেয়ারবাজারে তালিকাভুক্ত এসএস স্টিল লিমিটেডের সম্পদ নিলামে তুলেছে।

ব্যাংকের প্রগতি সরণি শাখা কর্তৃক জারি করা একটি নিলাম বিজ্ঞপ্তি শুক্রবার (১২ এপ্রিল) দৈনিক সংবাদপত্রে প্রকাশিত হয়েছে, যেখানে আগ্রহী ক্রেতাদের আগামী ৮ মে এর মধ্যে দরপত্র জমা দেওয়ার আহ্বান জানানো হয়েছে। ।

নিলামের নোটিশ অনুসারে, নারায়ণগঞ্জে ১৩৫.৭৯ শতাংশ জমি-কারখানা ভবন ও যন্ত্রপাতি এবং চট্টগ্রামে ১৯৯.১২ শতাংশ অবকাঠামোগত জমির নিলাম অনুষ্ঠিত হবে। সমস্ত সম্পদ এসএস স্টিলের মালিকানাধীন।

নিলাম বিজ্ঞপ্তিতে ব্যাংকটি জানিয়েছে, এসএস স্টিল তার জমি বন্ধক রেখে ঋণ নিয়েছে। চুক্তি অনুসারে, ঋণ আদায়ের জন্য আদালতের অনুমোদন ছাড়াই বন্ধক রাখা জমি বিক্রি করার জন্য ব্যাংক কর্তৃপক্ষকে অনুমতি দেওয়া হয়েছিল। কোম্পানিটি সময়মতো ঋণের কিস্তি পরিশোধ করতে ব্যর্থ হওয়ায় বন্ধকী জমি বকেয়া আদায়ের জন্য নিলামে তোলা হচ্ছে।

এর আগে জানুয়ারির শুরুতে ব্যাংক এশিয়া ১৬৭ কোটি ৫৬ লাখ টাকার বকেয়া ঋণ আদায়ের জন্য এসএস স্টিলের সম্পদ নিলামে তোলার ঘোষণা দিয়েছিল।

নোটিশ অনুসারে, গাজীপুরে ১৪৮.৫ শতাংশ জমি-কারখানা ভবন এবং যন্ত্রপাতি নিলামে তোলা হয়। সমস্ত সম্পদ এসএস স্টিলের মালিকানাধীন।

ব্যাংক সূত্র জানিয়েছে, কোম্পানিটি প্রথমে কার্যকরী মূলধনের জন্য একটি ডিমান্ড লোন নিয়েছিল। তবে একাধিক নোটিশ সত্ত্বেও এসএস স্টিল সময়মতো ঋণ পরিশোধ করতে ব্যর্থ হওয়ায় নিলামের প্রক্রিয়া শুরু করা হয়।

ব্যাংক এশিয়ার সাথে বিরোধ নিয়ে ঢাকা স্টক এক্সচেঞ্জের (ডিএসই) এক প্রশ্নের জবাবে কোম্পানিটি জানিয়েছিল, এসএস স্টিল তার আইন বিভাগের মাধ্যমে ব্যাংক এশিয়া এবং অন্যান্য আর্থিক প্রতিষ্ঠানের নিলাম বিজ্ঞপ্তি মোকাবেলা করবে এবং তার গ্রাহক, শেয়ারহোল্ডার এবং অংশীদারদের প্রতি প্রতিশ্রুতিবদ্ধ থাকবে।

উল্লেখ্য, ২০১৮ সালে এসএস স্টিল তার প্রাথমিক গণপ্রস্তাবের (আইপিও) মাধ্যমে শেয়ারবাজারে ২ কোটি ৫০ লাখ শেয়ার ইস্যু করে ২৫ কোটি টাকা সংগ্রহ করেছে।

২০২০ সালের আগস্টে এসএস স্টিল সালেহ স্টিলে প্রায় ১৬০ কোটি টাকা বিনিয়োগ করে এবং কোম্পানির ৯৯ শতাংশ শেয়ার অধিগ্রহণ করে। সালেহ স্টিল তার ব্র্যান্ড নামে রড এবং কয়েল উৎপাদন ও বিক্রি করে এবং এর বার্ষিক উৎপাদন ক্ষমতা প্রায় ৮৪ হাজার টন।

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Bangladesh Bank has appointed its Executive Director (ED) Mojibur Rahman as the Managing Director of ICB Islami Bank.

The central bank made the decision after dissolving the bank’s board of directors over allegations of corruption and mismanagement, reports UNB.

According to a Bangladesh Bank order, the appointment aims to safeguard the interests of depositors and the bank itself, while ensuring good governance in banking operations.

Mojibur Rahman will exercise the powers and perform the duties of both the Board of Directors and the Managing Director.

The order notes that due to significant weaknesses in the bank’s management and board, ICB Islami Bank has been facing capital and provisioning shortfalls.

It also highlights a large volume of classified investments and accumulated losses, worsened by management instability and a severe liquidity crisis. Besides, the bank’s policymaking failures have severely undermined governance and compromised depositor interests.

As a result, the existing board has been dissolved under the Bank Companies Act in the interest of depositors and public welfare. https://www.tbsnews.net/economy/stocks/crisis-deepens-hami-industries-what-lies-ahead-1113071