Announcement • Jul 28
First Security Islami Bank PLC to Report Q2, 2026 Results on Jul 30, 2025 First Security Islami Bank PLC announced that they will report Q2, 2026 results on Jul 30, 2025 Announcement • Jun 03
First Security Islami Bank PLC Recommends No Dividend for the Year Ended December 31, 2024 The Board of Directors of First Security Islami Bank PLC has recommended no dividend for the year ended December 31, 2024. Date of AGM: September 15, 2025. Announcement • Jun 02
First Security Islami Bank PLC, Annual General Meeting, Sep 15, 2025 First Security Islami Bank PLC, Annual General Meeting, Sep 15, 2025, at 10:00 Central Asia Standard Time. Announcement • Apr 23
First Security Islami Bank PLC to Report Q1, 2025 Results on Apr 30, 2025 First Security Islami Bank PLC announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Nov 05
Third quarter 2024 earnings released: ৳0.26 loss per share (vs ৳0.31 profit in 3Q 2023) Third quarter 2024 results: ৳0.26 loss per share (down from ৳0.31 profit in 3Q 2023). Revenue: ৳2.28b (down 32% from 3Q 2023). Net loss: ৳313.9m (down 184% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Oct 29
First Security Islami Bank PLC to Report Q3, 2024 Results on Oct 31, 2024 First Security Islami Bank PLC announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ৳8.40, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 6x in the Banks industry in Bangladesh. Total loss to shareholders of 5.3% over the past three years. New Risk • Sep 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Bangladeshi stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (৳8.46b market cap, or US$70.8m). Announcement • Sep 03
First Security Islami Bank PLC Announces Appointment of Chairman and Independent Directors First Security Islami Bank PLC has informed that Bangladesh Bank has appointed Chairman and Independent Directors of First Security Islami Bank PLC. as under with effect from September 1, 2024: Mr. Mohammad Abdul Mannan, Chairman & Independent Director; Mr. Md. Azizur Rahman, Independent Director; Mr. Md. Abdul Quddus, Independent Director; Mr. Md. Saiful Alam, PhD, FCMA, Independent Director and Mr. Md. Ragib Ahsan, FCA, Independent Director. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: ৳0.46 (vs ৳0.68 in 2Q 2023) Second quarter 2024 results: EPS: ৳0.46 (down from ৳0.68 in 2Q 2023). Revenue: ৳3.63b (down 2.8% from 2Q 2023). Net income: ৳529.3m (down 35% from 2Q 2023). Profit margin: 15% (down from 22% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jul 25
First Security Islami Bank PLC to Report Q2, 2024 Results on Jul 31, 2024 First Security Islami Bank PLC announced that they will report Q2, 2024 results on Jul 31, 2024 Upcoming Dividend • May 20
Upcoming dividend of ৳0.50 per share Eligible shareholders must have bought the stock before 27 May 2024. Payment date: 24 July 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 6.8%. Within top quartile of Bangladeshi dividend payers (4.3%). Higher than average of industry peers (5.3%). Buy Or Sell Opportunity • May 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to ৳7.40. The fair value is estimated to be ৳9.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 5.2%. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: ৳0.32 (vs ৳0.33 in 1Q 2023) First quarter 2024 results: EPS: ৳0.32 (down from ৳0.33 in 1Q 2023). Revenue: ৳3.89b (up 38% from 1Q 2023). Net income: ৳366.6m (down 4.0% from 1Q 2023). Profit margin: 9.4% (down from 14% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 01
First Security Islami Bank PLC Recommends Cash Dividend for the Year Ended December 31, 2023 First Security Islami Bank PLC announced the board of directors has recommended 5% cash dividend for the year ended December 31, 2023. Date of AGM is June 24, 2024. Announcement • Apr 24
First Security Islami Bank PLC to Report Q1, 2024 Results on Apr 29, 2024 First Security Islami Bank PLC announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ৳9.20, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 7x in the Banks industry in Bangladesh. Total returns to shareholders of 34% over the past three years. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: ৳0.33 (vs ৳0.35 in 3Q 2022) Third quarter 2023 results: EPS: ৳0.33 (down from ৳0.35 in 3Q 2022). Revenue: ৳3.38b (up 6.3% from 3Q 2022). Net income: ৳374.3m (down 6.7% from 3Q 2022). Profit margin: 11% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Announcement • Oct 17
First Security Islami Bank PLC to Report Q3, 2023 Results on Oct 19, 2023 First Security Islami Bank PLC announced that they will report Q3, 2023 results on Oct 19, 2023 Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: ৳0.78 (vs ৳0.31 in 2Q 2022) Second quarter 2023 results: EPS: ৳0.78 (up from ৳0.31 in 2Q 2022). Revenue: ৳3.73b (up 27% from 2Q 2022). Net income: ৳819.4m (up 131% from 2Q 2022). Profit margin: 22% (up from 12% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 10% per year. Announcement • Jul 25
First Security Islami Bank Limited to Report Q2, 2023 Results on Jul 26, 2023 First Security Islami Bank Limited announced that they will report Q2, 2023 results on Jul 26, 2023 Announcement • Jun 05
First Security Islami Bank Limited Appoints Professor Md. Kamal Uddin, Phd as Independent Director First Security Islami Bank Limited informed that Board of Directors has appointed Professor Md. Kamal Uddin, PhD as Independent Director of the company. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: ৳0.37 (vs ৳0.53 in 1Q 2022) First quarter 2023 results: EPS: ৳0.37 (down from ৳0.53 in 1Q 2022). Revenue: ৳2.82b (down 9.0% from 1Q 2022). Net income: ৳381.9m (down 31% from 1Q 2022). Profit margin: 14% (down from 18% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: ৳0.38 (vs ৳0.74 in 3Q 2021) Third quarter 2022 results: EPS: ৳0.38 (down from ৳0.74 in 3Q 2021). Revenue: ৳3.18b (flat on 3Q 2021). Net income: ৳400.9m (down 48% from 3Q 2021). Profit margin: 13% (down from 24% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 04
Second quarter 2022 earnings released: EPS: ৳0.34 (vs ৳0.20 in 2Q 2021) Second quarter 2022 results: EPS: ৳0.34 (up from ৳0.20 in 2Q 2021). Revenue: ৳2.94b (up 30% from 2Q 2021). Net income: ৳354.3m (up 68% from 2Q 2021). Profit margin: 12% (up from 9.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 15
Upcoming dividend of ৳0.50 per share Eligible shareholders must have bought the stock before 22 May 2022. Payment date: 17 July 2022. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 4.3%. Within top quartile of Bangladeshi dividend payers (3.4%). Lower than average of industry peers (5.4%). Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 2 independent directors (10 non-independent directors). Chairman of Shari'ah Council Mohammad Gias Talukder was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 22
First Security Islami Bank Limited Recommends Cash Dividend for the Year Ended December 31, 2021 First Security Islami Bank Limited announced that Board of Directors has recommended 5% cash dividend for the year ended December 31, 2021. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 21% share price gain to ৳14.80, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 8x in the Banks industry in Bangladesh. Total returns to shareholders of 98% over the past three years. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 17% share price gain to ৳12.90, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 8x in the Banks industry in Bangladesh. Total returns to shareholders of 49% over the past three years. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS ৳0.21 (vs ৳0.15 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ৳2.27b (down 13% from 2Q 2020). Net income: ৳210.9m (up 39% from 2Q 2020). Profit margin: 9.3% (up from 5.8% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 31
Upcoming dividend of ৳0.50 per share Eligible shareholders must have bought the stock before 07 June 2021. Payment date: 08 August 2021. Trailing yield: 4.0%. Within top quartile of Bangladeshi dividend payers (3.1%). In line with average of industry peers (4.1%). Valuation Update With 7 Day Price Move • May 30
Investor sentiment improved over the past week After last week's 16% share price gain to ৳12.50, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 8x in the Banks industry in Bangladesh. Total returns to shareholders of 41% over the past three years. Announcement • May 13
First Security Islami Bank Limited Recommends Dividend for the Year Ended on December 31, 2020 The Board of Directors of First Security Islami Bank Limited has recommended 5% cash dividend for the year ended on December 31, 2020. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to ৳10.50, the stock is trading at a trailing P/E ratio of 4.5x, up from the previous P/E ratio of 3.9x. This compares to an average P/E of 7x in the Banks industry in Bangladesh. Total return to shareholders over the past three years is a loss of 6.2%. Is New 90 Day High Low • Jan 04
New 90-day high: ৳9.80 The company is up 11% from its price of ৳8.80 on 06 October 2020. The Bangladeshi market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 3.0% over the same period. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total profits of ৳2.21b, down 2.0% from the prior year. Total revenue was ৳11.4b over the last 12 months, up 14% from the prior year. Announcement • Jul 26
First Security Islami Bank Limited to Report Q2, 2020 Results on Jul 23, 2020 First Security Islami Bank Limited announced that they will report Q2, 2020 results on Jul 23, 2020 Announcement • Jun 21
First Security Islami Bank Limited to Report Fiscal Year 2019 Results on Jun 18, 2020 First Security Islami Bank Limited announced that they will report fiscal year 2019 results on Jun 18, 2020 
