The recent image of financial institutions listed on the capital market is awful. Of the 20 companies, from January to June this year, 12 companies have been submerged in loss, which has exceeded Tk 1,000 crore. On the other hand, there are only six profit companies, but their total income did not even reach 20 million houses. The financial statement of the remaining five companies has not yet been published. All in all, the condition of the sector is very critical.
Concerned analysts believe that the main cause of this plight is the lack of long governance and irregular irregularities. The money has been looted in connection with the owners, top executives, influential businessmen and political powerful. Not only did the customer’s money disappear, the companies have also been in the liquidity crisis. As a result, it is difficult to sustain the business.
Analysts concerned say that now it is important to find the actual financial image of each organization through special audits. At the same time, if strict action is taken against those responsible, then confidence in the sector will begin to return.
From January to June this year, the total loss of 12 financial institutions in the loss stood at Tk. Of these, Phoencs Finance and Investments Limited is at the top, which has been damaged at Tk 5 per share per share. Secondly, People’s Leasing and Finance Services lost a total of Tk 8 crore 5 lakh per share. Third place is Fas Finance and Investment, whose loss is Tk 1 crore 5 lakh.
The fourth -ranked International Leasing and Financial Services lost Tk 1 crore 5 lakh, and the premiere leasing and finance, which was fifth, lost Tk.
Apart from this, there are several other companies in the list of losses – Tk 1 crore 5 lakh, Midas Finance 1 crore 5 lakh, first finance 1 crore 20 lakh, bay leasing and investment Tk 12 crore 5 lakh, Bangladesh Industrial Finance Company 1 crore 1 crore 5 crore 5 lakh, union and union. The loss of Tk 1 lakh has been lost. All in all, the number of losses is as high as the loss of the loss.
Asked about this, Professor Al-Amin, a member and analyst of the capital market reform task force, said that financial institutions have given loans to the nominal companies, invested in pre-IPO shares, which did not come to market. Top officials and traders have looted, so the companies are in the face of destruction. Now the horrors are clear as the image is published. Therefore, special audit and institution -based steps of the regulatory body including Bangladesh Bank are essential.
Kanti Kumar Saha, Vice Chairman of the Bangladesh Leasing and Finance Companies Association (BLFCA), said that the crisis would not have been created if appropriate loan risk management, customer selection and defaulted loan policy would not be created. A lot of problems could have been avoided if the central bank instructed.
In the first six months of this year, only 5 financial institutions have been able to make a profit. Their combined profit stands at Tk. Of these, the highest profit of the IDLC Finance, whose income is Tk 1 crore 5 lakh. Second place is DBH Finance PLC, the company has made a profit of Tk. IPDC Finance, which is third, has earned Tk 1 crore 5 lakh per share. Besides, National Housing Finance has made a profit of Tk 1 crore 20 lakh, United Finance PLC Tk 1 crore 5 lakh and Bangladesh Finance PLC Tk 2 crore 20 lakh.
Bangladesh Institute of Bank Management (BIBM) Professor Shah Md. Ahsan Habib said that NBFIs are lending long -term loans on short -term deposits, so the balance and liability balance is being lost. These companies should raise money by issuing bonds for long -term loans.
The financial institutions that have not published the report are GSP Finance Company, Invention Corporation of Bangladesh (ICB), Lanka Bangla Finance, Prime Finance and Investment and Uttara Finance.
