National Bank incurs loss of Tk766cr in Jan-Mar

Business Report :
National Bank incurred a loss of Tk766 crore during the January-March period of this year, which was 145% higher than the previous year.

The bank said in a statement on the Dhaka bourse, its loss per share stood at Tk2.38 during the first quarter, which was Tk0.97 a year ago.

National Bank said in the statement, during the period, bank could not book interest on loans and advances due to non-recovery from defaulters.

Furthermore, the bank incurred higher interest expenses on deposits and borrowings. Consequently, the period concluded with an operating loss, it added.

It further noted that the new board and the new management are exerting maximum efforts to improve the financial health of the bank by streamlining recovery drives and mobilisation of low cost deposits.

Its share is being traded at Tk6.30 today (16 May) at the Dhaka Stock Exchange.