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Agrani Bank posts FY'16 loss as provisions surge

Bangladesh-based Agrani Bank Ltd. reported a net loss of 6.90 billion taka for the year ended Dec. 31, 2016, amid a jump in provisions.

The bank reported a consolidated net profit of 696.0 million taka in the previous year. On a per-share basis, the bank reported a loss of 33.28 taka, compared to an EPS of 3.36 taka in 2015, according to an April 30 report.

Total provision jumped to 11.74 billion taka from 8.09 billion taka in the year ended Dec. 31, 2015.

The bank's net interest income for the period rose to 988.2 million taka from 856.6 million taka. Total operating income increased to 21.34 billion taka from 20.43 billion taka.

As of April 28, US$1 was equivalent to 83.63 Bangladeshi taka.