Prices of eight banks dip below face value level

FE Report | Published: April 27, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Market prices of some eight listed banks dipped below their face value of Tk 10 each amid continuous declining trend witnessed by the capital markets.
Market insiders said the banks, which were considered as blue chips before stock market debacle, are failing to attract investors despite recommending better dividends compared to the dividends of previous two years.
On Sunday, among 307 traded issues, only 28 advanced, 255 declined and 24 remained unchanged.
On the day, among 30 listed banks, the market prices of 23 declined. Of the 23 banks, the prices of eight banks have already gone down below face value.
The broad index of the premier bourse DSEX declined 645 points since March 1 this year. On Sunday the broad index also shed 2.33 per cent or 97.72 points to close at 4094.47 points.
The banks whose shares' price are below face value are: Exim Bank, First Security Islami Bank, ICB Islamic Bank, National Bank Limited (NBL), National Credit and Commerce (NCC) Bank, Premier Bank, Shahjalal Islami Bank and Standard Bank.
Each share of Exim Bank was traded at Tk 9.20, whereas each share of First Security Islami Bank was traded at Tk 8.30, the shares of ICB Islamic Bank at Tk 4.0, the shares of NBL at Tk 9.40, the shares of NCC Bank at Tk 9.20, the shares of Premier Bank at Tk 7.80, the shares of Shahjalal Islami Bank at Tk 9.20 and the shares of Standard Bank at Tk 9.20 on Sunday.
The market prices of some other listed banks are also about to touch the face value.
On Sunday, the shares of Al-Arafa Islami Bank were traded at Tk 11, the shares of Bank Asia at Tk 13.70, the shares of Jamuna Bank at Tk 10.30, the shares of Mercantile Bank at Tk 10.40, the shares of One Bank at Tk 11.0 and the shares of Trust Bank at Tk 12.20.
The banks which declared comparatively higher dividends for 2014 are: United Commercial Bank, ONE Bank, Dhaka Bank, Mutual Trust Bank, Jamuna Bank, Social Islami Bank, Prime Bank, Standard Bank, Al-Arafah Islami Bank, Bank Asia, Trust Bank and AB Bank. Some of such banks recommended dividends up to 40 per cent.
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