ICB Islamic Bank PLC

ICB Islamic Bank is currently facing a critical existential crisis characterized by severe capital shortfall, massive accumulated losses, and a high volume of classified loans, leading to significant uncertainty regarding its status as a going concern.

ISLAMIC BANKING MAPPING: ICBIBL reports 'investments' not 'loans/advances'. total_loans_bdt = gross total investments as of Dec 31, 2024, sourced from stockanalysis.com (Tk7,416 million). npl_bdt = classified investments: Tk6,720 million derived as 91% of Tk7,416 million (rounded; search result stated 'Tk6.72 billion or 91% of total loans were defaulted' as of end-2024). An earlier figure of Tk6,860 million (87% ratio) was cited for Dec 2023 -- the 91% figure is more recent and internally consistent. total_deposits_bdt = Tk10,884 million per stockanalysis.com FY2024 (note: deposits exceed total assets due to accumulated losses wiping equity negative; this is arithmetically consistent with deeply negative equity). total_assets_bdt = Tk9,243 million per stockanalysis.com FY2024. | FINANCIALS: net_profit_bdt = Tk-945.06 million (FY2024 net loss) per stockanalysis.com income statement, cross-verified with TBS reference to a 'loss of Tk94.50 crore' in 2024 (Tk945 million -- consistent). CAR not found in public summaries; with deeply negative equity and 91% NPL, the bank is almost certainly in severe capital deficit. ROA and ROE not computed as equity is negative. | HISTORY: Founded 1987 as Al-Baraka Bank Bangladesh, Bangladesh's second Islamic bank. Listed on DSE 1990. Renamed The Oriental Bank Limited December 31, 2002. Bangladesh Bank dissolved Oriental Bank board in 2006 and auctioned shares. ICB Financial Group Holdings AG (Switzerland) acquired majority shares February 28, 2008 and renamed bank ICB Islamic Bank. ICB Financial Group later transferred its shares to two local conglomerates (holding 86.34% collectively, violating the Bank Company Act's concentration limits). BB seized those shares. Multiple lawsuits filed; some resolved in BB's favor, others under stay orders. Bank thus excluded from Sammilito merger launched November 2025. | CURRENT STATUS: Board dissolved April 9, 2025. Administrator Mamunur Rahman (BB Executive Director) appointed as administrator April 21, 2025. Three independent directors added May 18, 2026 under administrator's oversight. The bank has 33 branches across 13 districts, 259 employees (RocketReach, consistent with severe downsizing). Shareholder ownership (last available): sponsor-directors 52.76%, institutions 21.65%, general public 25.42%, government 0.17%. | PAID-UP CAPITAL: Tk6,647.02 million (Tk6,647,023,000) per Annual Report 2022; 2023/2024 figure not separately verified but expected to be unchanged (no capital injection occurred). authorized capital not found in public summaries; set to null. | SAMMILITO EXCLUSION: When BB directed the merger of EXIM, First Security Islami, Global Islami, Social Islami, and Union Bank into Sammilito Islami Bank (licensed December 2, 2025), ICB Islamic Bank was explicitly excluded due to unresolved ownership litigation. ICB Islamic Bank remains a separate distressed entity under BB administration. | verification_status=partial: core financials (total assets, deposits, loans, net loss) sourced from stockanalysis.com and cross-verified with press. NPL ratio of 91% corroborated by two separate press sources (TBS, Financial Express) for end-2024. CAR, authorized capital, ATM count, agent banking count not found in public summaries. Administrator identity and governance actions verified from Daily Star, TBS, Today's FE.