LankaBangla Finance posted an impressive 2900 per cent increase in its second-quarter (Q2) earnings for April-June 2021, compared to the same period last year, thanks to a bullish capital market and relaxed provisioning norms.
In a filing with the Dhaka Stock Exchange (DSE) on Thursday, the company said its consolidated earnings per share (EPS) rose to Tk 0.30 for April-June 2021, up from Tk 0.01 in the corresponding period.
The non-bank financial institution's consolidated EPS for six months until June 30, 2021, also surged to Tk 0.71 as against Tk 0.14 for the same period of the previous year.
The consolidated net operating cash flow per share (NOCFPS) was Tk 2.45 for January-June 2021 as against Tk 1.92 for January-June 2020.
The consolidated net asset value (NAV) per share was Tk 18.24 as on June 30, 2021 and Tk 18.73 as on June 30, 2020. EPS and NOCFPS of Q2 2020 have been restated.
The company informed that utilising bullish capital market, consolidated investment income increased by Tk 293.81 million when provision charge for diminution in value of investments reduced by Tk 356.05 million in year-to-date (YTD) June 2021.
With the increase of volume of transactions in the capital market, respective brokerage income increased by Tk 460.68 million in YTD June 2021, said the company.
Income from Central Depository Bangladesh, advertisement, fee income from credit cards contributed to the growth of other operational income by Tk 174.54 million in YTD June 2021, compared to YTD June 2020, it added.
However, each share of the company, listed on the DSE in 2006, closed at Tk 39.10 on Thursday, remaining unchanged over the previous day.
Its shares traded between Tk 16.20 and Tk 48.30 in the last one year.
LankaBangla Finance disbursed 12 per cent cash dividend for the year ended on December 31, 2020. In 2019, it provided 7.0 per cent cash and 5.0 per cent stock dividend.
The company's paid-up capital is Tk 5.38 billion and authorised capital is Tk 10 billion, while the total number of securities is 538.83 million.
The sponsor-directors own 33.56 per cent stake in the company, while institutional investors own 18.79 per cent, foreign investors 0.80 per cent and the general public 46.85 per cent as on July 31, 2021, the DSE data showed.
Meanwhile, Rupali Bank, a listed financial institution, has posted nearly 67 per cent increase in its earnings per share (EPS) in the second quarter that ended June 2021 as against the same quarter last year.
The state-run bank's consolidated EPS stood at Tk 0.25 for April-June 2021, up from Tk 0.15 for April-June 2020, the bank said in a filing with the DSE on Thursday.
The bank's consolidated EPS for six months until June 30, 2021 also rose to Tk 0.43 for January-June 2021 as against Tk 0.37 for January-June 2020.
The consolidated NOCFPS was Tk 13.01 for January-June 2021 as against Tk 74.54 for January-June 2020.
As of June 30, 2021, the bank's net asset value (NAV) per share stood at Tk 46.49 against Tk 44.10 as on December 31, 2020.
Each share of the bank, listed on the DSE in 1986, closed at 33.90 on Thursday, losing 2.02 per cent despite EPS rise news.
The government owns 90.19 per cent stake in the bank, while institutional investors own 4.81 per cent and the general public 5.0 per cent as on July 31, 2021, the DSE data shows.
