Staff Correspondent:

Janata Bank PLC plunged into massive losses in 2024 as its net interest income dropped significantly.

The state-run bank posted a loss of Tk 3,066 crore in 2024, marking a sharp reversal from a profit of Tk 62 crore of the previous year.

Its loss per share stood at Tk 132.51, compared to earnings per share of Tk 2.68 in 2023, according to the state-run lender’s financial statements.

The bank’s net interest loss amounted to Tk 3,042 crore last year, a steep fall from a net interest income of Tk 282.32 crore in 2023.

Its net operating cash flow per share also dropped significantly, reaching negative Tk 102.87, down from a negative Tk 31.21 in the same period a year ago.

In light of the financial performance, the bank’s board has declared no dividend for the year.

Founded in 1972, Janata Bank was corporatised as Janata Bank PLC on November 15, 2007.

It is the second largest commercial bank in the country by deposits and assets, according to its website.