FAS Finance & Investment Ltd 2022 IR
The report highlights FAS Finance & Investment Limited's performance and challenges for the fiscal year 2022. The company faced a severe financial crisis, with fresh lending halted since mid-2019 due to liquidity issues, resulting in a high non-performing loan (NPL) ratio of 99.51%. Despite these challenges, the company focused on recovery efforts, retrieving BDT 22.46 crore from defaulted accounts, and implemented a new core financial solution, 'FinUltimus,' to improve transparency and compliance. The reconstituted Board of Directors is actively working on a comprehensive revival plan to restore profitability and protect stakeholder interests.
Company: FAS Finance & Investment Ltd
Sector: Finance & insurance
Country: Bangladesh
Year: 2022
Type: IR
Pages: 163
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FAS Finance & Investment Ltd
Annual Report
The report highlights FAS Finance & Investment Limited's performance and challenges for the fiscal year 2022. The company faced a severe financial crisis, with fresh lending halted since mid-2019 due to liquidity issues, resulting in a high non-performing loan (NPL) ratio of 99.51%. Despite these challenges, the company focused on recovery efforts, retrieving BDT 22.46 crore from defaulted accounts, and implemented a new core financial solution, 'FinUltimus,' to improve transparency and compliance. The reconstituted Board of Directors is actively working on a comprehensive revival plan to restore profitability and protect stakeholder interests.
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Document Details
Report Year
2022
Reporting Period
Jan 1, 2022 - Dec 31, 2022
Fiscal Year
2022
Type
Integrated Report
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Employees