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UCB to issue Tk 4.0b perpetual bond

FE Online Report | Published: October 16, 2019 11:12:53 | Updated: October 17, 2019 11:37:21


The board of directors of United Commercial Bank Ltd has decided to raise Tk 4.0 billion through issuance of Perpetual Bond.

The bank will issue the bond to support the company Basel III compliance in line with Bangladesh Bank Guidelines on Risk Based Capital Adequacy dated December 2014 and to support the business growth of the bank, subject to approval of all concerned regulatory authorities, according to an official disclosure on Wednesday.

The bank also disclosed its earnings of July-September quarter of 2019.

As per the discloser, its consolidated EPS was Tk 0.72 for July-September 2019 as against Tk 0.66 for July-September 2018.

The consolidated EPS was Tk 1.76 for January-September 2019 as against Tk 1.62 for January-September 2018.

The consolidated NOCFPS was negative Tk 0.56 for January-September 2019 as against negative Tk. 5.49 for January-September 2018.

The consolidated NAV per share was Tk. 26.34 as on September 30, 2019 and Tk. 23.88 as on September 30, 2018.

Each share of the bank, which was listed on the Dhaka bourse in 1986, closed at Tk 14.10 on Tuesday.

The bank disbursed 10 per cent stock dividend for the year ended on December 31, 2018.

The bank’s paid-up capital is Tk 11.59 billion and authorised capital is Tk 15 billion, while the total number of securities is 1.15 billion.

The sponsor-directors own 36.67 per cent stake in the bank, while the government owns 0.81 per cent, institutional investors own 18.63 per cent, foreign investors 1.43 per cent and the general public 42.42 per cent as on September 30, 2019.

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