Islami Bank Bangladesh Limited, the country’s largest private-sector lender, has postponed its annual general meeting (AGM) for the 2024 financial year, which was scheduled to take place today (19 November).

In a disclosure to the Dhaka Stock Exchange on Wednesday, the bank attributed the postponement to “unavoidable circumstances,” noting that a revised date will be announced later.

Speaking to The Business Standard, Islami Bank’s Company Secretary Habibur Rahman said the AGM had to be delayed because of a pending High Court case concerning a share settlement issue. “We are trying to resolve the case as soon as possible,” he added.

The bank had earlier decided not to declare any dividend for 2024, pending approval at the AGM.

Islami Bank reported a consolidated net profit of Tk108 crore for 2024, an 83% drop from the previous year. The decline was driven by higher deposit costs and increased provisioning requirements for bad investments. Bangladesh Bank also instructed the lender to approve its audited financial statements while maintaining a provision shortfall of Tk69,770 crore against classified investments.

Once regarded as the country’s most profitable bank, Islami Bank showed signs of recovery in the July–September quarter of 2025, posting a consolidated net profit of Tk32.37 crore—a significant turnaround from a loss of Tk89.21 crore in the same period a year earlier. Its consolidated earnings per share rose to Tk0.20, reflecting improved investment income and better provisioning management.

Despite the third-quarter rebound, the bank’s overall nine-month performance in 2025 remains weak. Consolidated net profit fell 62.7% year-on-year to Tk99.77 crore, while standalone profit dropped 67.7% to Tk78.77 crore due to higher operating expenses and slower investment growth in the first half of the year.