Stocks
Rupali Bank’s Authorized Capital Set to Surge by Tk 1800cr
Rupali Bank PLC has obtained approval to increase its approved capital to 1800 crore taka or triple its previous amount. This information was revealed by a source to Dhaka Stock Exchange on Sunday (March 24). According to the source, the bank has received approval from the Ministry of Finance to enhance its approved capital through the issuance of ordinary shares, raising it from 1800 crore taka to 2500 crore taka. The approval was granted by the Ministry of Finance on Thursday (March 20).
Rupali Bank PLC has achieved record-breaking financial performance in 2023 through the enhancement of service quality, efficient recovery of delinquent loans, and distribution of loans with diversity. The bank has set new records in all economic indicators, including profits. It has attained unprecedented success in areas such as the recovery of delinquent loans, expansion of deposits, loan distribution, opening of new accounts, reduction of local branch costs, and automated operations.
Among the 35 listed banks in the stock market in the first nine months of last year, Rupali Bank PLC has experienced the highest cash flow or Effective Net Operating Cash Flow (NOCFPS). The cash flow of this state-owned bank, along with 22 other banks, has increased from January to September.
Among the banks, Rupali Bank PLC has experienced the highest increase in cash flow per share at the end of the financial year. The company’s cash flow per share stood at Tk 116.54 for the three quarters or nine months (January-September ’23), compared to losses of Tk 69.58 during the same period last year. This signifies an increase of Tk 186.12 per share. In 2022, the bank’s operational profit was Tk 106 crore, whereas at the end of 2023, the operational profit of the bank has exceeded Tk 700 crore. Rupali Bank PLC, the only bank listed on the stock exchange under state ownership, has seen a more than 7-fold increase in operational profit by the end of the year.
One of the listed companies, Summit Alliance Port Limited discloses its financial reports for the third quarter, (January – March 24).
The company’s earnings per share (EPS) was Tk 0.48 paisa in Q3 of the current financial year (January – March 24). EPS was Tk 0.23 paisa during the same period last year. NAV per share was Tk. 33.29 as on March 31, 2024.
One of the Listed companies, Trust Bank Company Limited has recommended 12% Cash Dividend % 8% Stock Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported Consolidated EPS of Tk. 4.97 for the year ended December 31, 2023. Consolidated NAV per share of Tk. 27.24 paisa.
The Annual General Meeting (AGM) of the company will be held on July 16, through the digital platform. The record date for this has been fixed at May 29.
Q1 Financials: The company’s earnings per share Consolidated EPS was Tk. 0.38 for January – March 2024 as against Consolidated EPS of Tk 0.29 for January – March 2023. As of March 31, 2024, net asset value (NAVPS) was Tk 27.43 paisa.
One of the listed companies, Anlima Yarn Dyeing Limited discloses its financial reports for the third quarter, (January – March 24).
The company’s earnings per share (EPS) was loss Tk 0.67 paisa in Q3 of the current financial year (January – March 24). EPS was Tk 0.12 paisa during the same period last year. NAV per share was Tk. 9.70 as on March 31, 2024.
