The board of directors of Exim Bank Ltd has decided to issue mudaraba subordinated bond (4th Issue) of Tk 5.0 billion, said an official disclosure on Monday.
The bank will issue the bond as a process of inclusion in Tier-II capital as “Subordinated debt”, for a period of 7 years tenure through private placement.
The bond issue is subject to approval by concerned regulatory authorities – Bangladesh Bank and Bangladesh Securities and Exchange Commission and compliance of all formalities in this respect, said the disclosure.
Each share of the bank, which was listed on the Dhaka Stock Exchange (CSE) in 2004, closed at Tk 11.70 on Sunday.
Its shares traded between Tk 7.70 and Tk 12.50 each in the last year.
The bank’s consolidated earnings per share (EPS) stood at Tk 0.43 for July-September 2020 as against minus Tk 0.12 for July-September, 2019.
In nine months for January-September, 2020, its consolidated EPS was Tk 1.43 as against Tk 0.44 for January-September 2019.
The consolidated net operating cash flow per share (NOCFPS) was negative Tk 9.84 for January-September 2020 as against Tk 11.13 for January-September 2019.
The consolidated net asset value (NAV) per share was Tk 21.10 as of September 30, 2020, and Tk 19.42 as on September 30, 2019.
The bank also informed that the EPS increased mainly due to decrease in investment provision and provision for diminution in value of shares and NOCFPS decreased mainly due to decrease in cash flows from operating assets and liabilities compared to the previous period.
The bank disbursed 10 per cent cash dividend for the year ended on December 31, 2019.
The bank’s paid-up capital is Tk 14.12 billion and authorised capital is Tk 20 billion while the total number of securities is 1.41 billion.
The sponsor-directors own 37.95 per cent stake in the bank, while the institutional investors own 24.43 per cent, foreign investors 1.88 per cent and the general public 35.74 per cent as on November 30, 2020, the DSE data show.
