Shahjalal Bank to buy Tk 118.91m ICB Islamic Bank shares
FE Report | Thursday, 12 June 2008
Shahjalal Islami Bank Limited will acquire a total of 1,18,916 shares worth Tk 118.91 million (face value Tk 1000) of ICB Islamic Bank (formerly Oriental Bank Ltd).
According to a price sensitive information posted on the Dhaka Stock Exchange (DSE) website on Wednesday, the Shahjalal Bank will acquire the shares against a partial payment of deposit liability as per 'The Oriental Bank Ltd (Reconstruction) Scheme 2007' formulated by Bangladesh Bank.
The trading of ICB Islamic Bank will resume on the stock exchanges once the share allotment of the reconstituted bank completes.
Shahjalal Bank has already completed seven years of service with a special focus on small and medium enterprises (SMEs) and development of rural economy.
"We will open minimum 20 SME booths in near future in compliance with a recent central bank directive and this will contribute to a large extent to create new employment opportunities," a bank source said.
The Bank which began commercial operation on May 10,2001 maintained and achieved strong position in all key areas covering capital adequacy, assets quality, sound management, good earnings and strong liquidity in the year ended December 31, 2007.
As on May 31,2008, the total deposit of the bank stood at Tk 27,622 million, investment Tk 25,515 million, import Tk 17,569 million, export Tk 10,054 million and remittance Tk 450 million.
The paid up capital of the bank stood at Tk 2.24 billion against the authorised capital of Tk 4.0 billion.
The bank will open five more branches within September of the year. The new branches will be opened in Jessore, Syedpur, Keranigonj (Dhaka) and Kakrail and Bhatara (Baridhara) in Dhaka city.
At present there are 26 branches of the bank in Dhaka, Chittagong, Khulna and Sylhet.
According to a price sensitive information posted on the Dhaka Stock Exchange (DSE) website on Wednesday, the Shahjalal Bank will acquire the shares against a partial payment of deposit liability as per 'The Oriental Bank Ltd (Reconstruction) Scheme 2007' formulated by Bangladesh Bank.
The trading of ICB Islamic Bank will resume on the stock exchanges once the share allotment of the reconstituted bank completes.
Shahjalal Bank has already completed seven years of service with a special focus on small and medium enterprises (SMEs) and development of rural economy.
"We will open minimum 20 SME booths in near future in compliance with a recent central bank directive and this will contribute to a large extent to create new employment opportunities," a bank source said.
The Bank which began commercial operation on May 10,2001 maintained and achieved strong position in all key areas covering capital adequacy, assets quality, sound management, good earnings and strong liquidity in the year ended December 31, 2007.
As on May 31,2008, the total deposit of the bank stood at Tk 27,622 million, investment Tk 25,515 million, import Tk 17,569 million, export Tk 10,054 million and remittance Tk 450 million.
The paid up capital of the bank stood at Tk 2.24 billion against the authorised capital of Tk 4.0 billion.
The bank will open five more branches within September of the year. The new branches will be opened in Jessore, Syedpur, Keranigonj (Dhaka) and Kakrail and Bhatara (Baridhara) in Dhaka city.
At present there are 26 branches of the bank in Dhaka, Chittagong, Khulna and Sylhet.