Briefing 2024-09-11

Diagnosis of Global Islami Bank: Signs condoned as it raises public money

Global Islami Bank (GIB) showed a remarkable 28 per cent year-on-year surge in profit in 2021, the year before its listing, while its cash flow was negative. Negative cash flow from operations was almost double the profit earned that year. Then the year after the listing, the lender's income plunged 27 per cent despite the addition of Tk 4.25 billion raised through the second largest IPO in the banking sector. Page 9

Rana sets sights on India Test series

Having made an instant impact with his brilliant performance in the historic 2-0 triumph over Pakistan, Bangladesh’s rising speedster Nahid Rana has now set his eyes on the upcoming away Test series against India. Page 17