First Security Islami Bank PLC (FSIBL) suffered a loss in the third quarter (July-September) of this year, as its investment income fell and cost of deposits increased.
FSIBL reported a loss of Tk 31.31 crore in the July-September quarter during this financial year, reflecting a sharp reversal from Tk 38.41 crore profit posted in the same period last year.
Its losses per share was Tk 0.26 in the July-September quarter of this year compared to earnings of Tk 0.31 during the same period a year ago, according to the FSIBL's latest unaudited financial statements.
The Shariah-based bank, which saw board restructuring by the central bank in September, said its net profit declined 63 percent year on year to Tk 58.91 crore in the January-September period of the current year from Tk 159.67 crore the previous year.
Majority owned by much-talked about S Alam Group, a beneficiary of the recently ousted Awami League government, FSIBL attributed the downturn in profit to a Tk 135.35 crore drop in net investment income, citing factors such as increased profit rates on deposits.
