Exim Bank of Bangladesh PLC reported a staggering loss of Tk 566 crore in the July-September quarter as declining deposits and retained earnings dragged down its earnings.

According to a statement on the Dhaka Stock Exchange website, the bank’s consolidated loss per share reached Tk 3.91, a sharp decline from the Tk 0.37 earnings per share posted in the same period last year.

This poor performance led to a strong reaction in the markets; Exim Bank shares fell 9.64 percent to Tk 7.5 as of 12:06 pm on the DSE floor.

The bank attributed the earnings decline to an increase in investment provisions.

Cash flow challenges have further compounded Exim Bank’s challenges, with net operating cash flow per share (NOCFPS) for January-September 2024 recorded at negative Tk 16.62 crore.

The decrease in NOCFPS was primarily due to increased investments from customers and a decrease in deposits.

In addition, the bank’s net asset value per share weakened due to the impact of decreased retained earnings compared to the previous period.

Exim Bank was founded in 1999 and transitioned to Sharia-based banking in 2004, positioning itself as a key player in corporate, small and micro industries, and agricultural finance.