The Investment Corporation of Bangladesh (ICB) had a Tk2,455.94 crore shortfall in provisions against its securities investments and Tk127.75 crore in unpaid taxes, value-added tax and excise duties, according to its audited financial statements for FY26.
The corporation’s joint auditors flagged both issues in an Emphasis of Matters paragraph, warning that delayed deposits of deducted government dues could expose ICB to penalties and other financial consequences.
The provision shortfall represented 16.64 per cent of ICB’s securities investments as of 30 June 2026. The corporation attributed the gap to unfavourable market conditions and said a market recovery could help eliminate it.
The Bangladesh Securities and Exchange Commission has extended the deadline for maintaining provisions against unrealised losses until 31 December 2026.
ICB’s outstanding deducted taxes, value-added tax and excise duties stood at Tk144.71 crore at the end of FY26, up around 197 per cent from Tk48.65 crore a year earlier.
The increase was mainly due to the renewal of deposits from state-owned commercial banks and accumulated unpaid interest from previous years, ICB said. Deposits from the banks had been irregular since FY2021-22 because of liquidity constraints.
ICB paid Tk99.65 crore during FY26 and a further Tk16.96 crore between July and 27 October, bringing the outstanding amount to Tk127.75 crore.
Persistent liquidity constraints had prevented the corporation from clearing the dues in full, it said, adding that the remaining amount was being deposited into the government treasury in phases.
The auditors cautioned that failure to deposit deducted amounts within the statutory timeframe could result in penalties and other financial consequences.
The financial statements were jointly audited by Sabuj Hossain Chowdhury FCA of MMSC, formerly Mahamud Sabuj & Co, and Uzzal Deb Nath FCA of Basu Banerjee Nath & Co.
