The newly listed NRB Commercial Bank has decided to issue non-convertible unsecured coupon bearing subordinated bonds worth Tk 5.0 billion as Tier II capital of the bank.
"The decision has been taken unanimously to continue subsequent growth of NRBC Bank and present microcredit program and credit programs all over the country under taken by the bank," said the bank in a filing with the Dhaka Stock Exchange (DSE) on Sunday.
The bond issue is subject to the approval from concerned authorities -Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC)-and complying with all applicable laws and regulations, according to the filing.
The fourth generation bank, which got listed on the stock market on March 22 of this year, raised Tk 1.20 billion through IPO under the fixed price method for buying government securities and enhances the lender's investment in the stock market.
The bank's consolidated earnings per share (EPS) rose more than 57 per cent to Tk 0.44 for January-March, 2021 compared to the same quarter of the previous year.
The bank's consolidated balance stood at more than Tk 162.50 billion as of March 31, 2021 which was Tk 121.60 billion for the same period of the previous year.
The bank's consolidated net asset value (NAV) per share was Tk 15.82 as of March 31, 2021 which was Tk 14 as of December 31, 2020.
The board of directors of the bank has recommended 7.5 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2020. The annual general meeting will be held on June 26.
Each share of the bank closed at Tk 36 on Sunday, remaining unchanged over the previous day. Its share traded between Tk 11 and Tk 40.40 since listing with the stock market on March 22.
The bank's paid-up capital is Tk 7.02 billion, authorised capital is Tk 10 billion and the total number of securities is 702.51 million.
The sponsor-directors own 73.32 per cent stakes in the bank while the institutional investors own 2.94 per cent and the general public 23.74 per cent as of May 31, 2021, the DSE data shows.
The bank began its journey on April 2, 2013, as a scheduled bank. Its total branches stood at 83 and sub-branches 423 as of March 31, 2021.
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