First Security Islami Bank (FSIBL) has reported a massive Tk3,750 crore loss in the January September period of 2025, marking one of the biggest financial collapses in the country’s banking sector. The bank lost Tk2,060 crore in the July September quarter alone, reversing from a profit of Tk31 crore a year earlier.
The bank’s net asset value per share has plunged to negative Tk14.65, wiping out all shareholder equity. Its total NAV now stands at negative Tk1,770 crore, indicating deep insolvency as liabilities exceed assets.
FSIBL’s liquidity crisis has worsened, with net operating cash flow falling to negative Tk2,880 crore. Earlier, its 2024 audit had shown NPLs of Tk55,920 crore 92% of its loan portfolio and a provision shortfall of Tk47,862 crore.
Bangladesh Bank has dissolved FSIBL’s board, appointed an administrator, and initiated a merger of five troubled Islamic banks. Share trading of FSIBL remains suspended, with shareholders set to receive no compensation.
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