News Briefs(3-5-2018)

FE Team | Published: May 02, 2018 23:00:29

City Bank reduces NAV
The board of directors of The City Bank Limited has approved changing its accounting policy for fixed assets from Revaluation Model to Cost Model with effect from January 01, 2017. As a result, based on January 01, 2017, the Net Assets Value of the bank will be reduced by Tk. 466,88,58,423.00 i.e. Tk. 5.33 per share.
Janata Ins defers adopting accounts
The board of directors of Janata Insurance Company in its meeting on April 29 could not adopt the audited financial statements for the year ended on December 31, 2017. The relevant item of agenda regarding considering/adopting the financial statements was deferred and was emphasised on examining the statements again carefully by the board.
First Finance defers dividend declaration
The board of directors of First Finance Limited has approved the audited financial statements for the year ended on December 31, 2017. However, since holding of the 24th AGM and the issue of dividend for the year 2016 are still under jurisdiction of the High Court, the date, venue and time of 25th AGM along with any declaration of dividend for the year 2017 will be announced after obtaining permission from the HC. The company has reported EPS of Tk (2.62), NAV per share of Tk 10.88 and NOCFPS of Tk 2.60 for the year ended on December 31, 2017 as against Tk 0.43, Tk 13.50 and Tk (8.80) respectively for the same period of the previous year.
Delta Life postpones board meet
Due to unavoidable circumstances, the board meeting of the Delta Life Insurance Company, which was scheduled for April 30 to consider, among others, audited financial statements of the company for the year ended on December 31, 2017 has been postponed. The new schedule of the board meeting will be notified later.
— DSE/ CSE online