Stocks
Bank Asia to Issue Tk800cr Bond
Bank Asia PLC, a leading private sector bank, has announced plans to issue a Tk800 crore bond to strengthen its capital base through private placement. This floating rate non-convertible subordinated bond, intended to raise regulatory capital (Tier-2), aims to help the bank meet its Basel-III requirements.
The decision was approved by the board of directors during a meeting on June 4, as disclosed in stock exchanges on Wednesday, June 5. The seven-year term bonds are subject to approval from the Bangladesh Securities and Exchange Commission (BSEC) and the Bangladesh Bank.
Subordinated bonds, primarily issued by banks, dominate the local bond market, aiding lenders in building their mandatory tier-2 capital base within a specific tenure. The Bangladesh Bank’s implementation of Basel-III ensures that banks maintain sufficient capital to avert systemic risk.
Basel-III is an international regulatory accord introducing reforms to mitigate risk within the global banking sector by requiring banks to maintain proper leverage ratios and reserve capital levels.
For the first quarter of 2024, Bank Asia PLC reported a profit of Tk77.88 crore, a 41% decrease compared to the same period the previous year. Despite a 33.63% increase in operating income to Tk634.77 crore, the earnings per share (EPS) dropped to Tk0.67 from Tk1.14 in the first quarter of 2023.
The company attributed the decline in EPS to higher provisions, which rose to Tk192 crore from Tk45 crore in the same quarter of the previous year.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
