Business Desk :
Fareast Finance and Investment Ltd have incurred a staggering cumulative loss of Tk965 crore from 2019 to March 2025, primarily due to widespread irregularities and major loan scams, according to company insiders.
The non-bank financial institution (NBFI) reported losses of Tk71.80 crore in 2019, Tk28.56 crore in 2020, and a sharp jump to Tk419 crore in 2021. Losses continued at Tk230.65 crore in 2022, Tk112.32 crore in 2023, and Tk84.17 crore in 2024. The trend persisted in early 2025, with a loss of Tk18.91 crore in the January-March quarter alone.
Due to persistent losses, the company has not paid any dividend for eight consecutive years, including 2024.
Currently, Fareast Finance shares are trading at Tk4.60, well below their face value of Tk10, resulting in a market capitalisation far below the paid-up capital of Tk164 crore.
The company’s retained earnings have plunged to negative Tk1,046 crore, dragging the net asset value per share to negative Tk51.63, indicating that liabilities now vastly exceed assets, according to a media release.
As of March 2025, the company’s non-performing loans (NPLs) stood at Tk856.44 crore, accounting for 98 per cent of total disbursed loans. Meanwhile, total deposits amounted to Tk448 crore.
Due to persistent financial irregularities and corruption, the Bangladesh Securities and Exchange Commission (BSEC) dissolved the company’s board in 2021 and appointed independent directors to oversee operations.
