Depositors withdrew Tk 18000 cr from Islami Bank in a year

Mahfuz Emran: In 2022, depositors have withdrawn Tk 17,783 crore from the private sector Islami Bank Bangladesh Limited. As a result, the deposit amount of the bank has decreased in the last year. The bank disbursed Tk 11,430 crores of loans at the same time despite the decrease in deposits. The bank was in a cash crunch last year as investment or loans increased against a decrease in deposits.
This information came out in the review of the financial report of the bank for the year 2022 published recently.
Islami Bank’s net profit has increased despite the decrease in deposits and increase in loans in the outgoing year. Last year the net profit of the bank was Tk 616.70 crore, which was Tk 480.76 crore in the previous year in 2021. Net profit increased by 28.28 percent in one year.
According to those concerned in the sector, customers started withdrawing their deposits when major irregularities in the disbursement of loans were revealed in the bank last year. The bank faced a liquidity crisis. Bangladesh Bank appoints observers in this situation. It also improves the situation somewhat.
Last year, after the disclosure of information about irregularities in disbursement of loans in Islami Bank, panic spread among the customers of several other banks. At that time, depositors withdrew about one lakh crore rupees from various banks. In this, various banks fall into liquidity crisis. Bangladesh Bank stood by different banks to overcome the crisis.
According to Islami Bank’s financial report, the bank’s cash flow per share decreased in 2022. Cash flow was negative at around Tk 56 per share, compared to surplus liquidity in the previous year. In 2021, the bank’s cash flow per share was over Tk 41. That is, Tk 97 have decreased in the space of one year.
In 2022, the net profit of Islami Bank was Tk 616.70 crore. In 2021, the net profit of this bank was Tk 480.76 crore. According to that, the net profit of the bank increased by Tk 135.94 crores or 28.28 percent in one year.
At the end of 2021, deposits of Islami Bank were Tk 1 lakh 38 thousand 198 crores and loans were Tk 1 lakh 28 thousand 599 crores.