The board of directors of Pubali Bank Ltd has decided to raise Tk 5.0 billion through the issuance of perpetual bonds to strengthen the additional tier-1 capital base.
The bank will issue the bond for raising funds to strengthen the additional Tier-1 (AT-1) capital to support the bank’s Basel-III compliance in line with Bangladesh Bank guidelines on risk-based capital adequacy dated December 2014.
The perpetual bonds issue is subject to approval from concerned authorities – Bangladesh Bank and Bangladesh Securities and Exchange Commission (BSEC) and complying with regulatory requirements, the bank said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.
Each share of the Pubali Bank, which was listed on the Dhaka bourse in 1984, closed at Tk 24.60 on Wednesday.
Its shares traded between Tk 19.10 and Tk 26.80 each in the last year.
The bank’s consolidated earnings per share (EPS) stood at Tk 1.50 for July-September 2020 as against Tk 0.56 for July-September 2019.
In nine months for January-September 2020, the bank’s consolidated EPS was Tk 2.94 as against Tk 2.72 for January-September 2019.
The consolidated net operating cash flow per share (NOCFPS) was Tk 1.64 for January-September 2020 as against Tk 1.99 for January-September 2019.
The consolidated net asset value (NAV) per share was Tk 33.07 as of September 30, 2020, and Tk 28.21 as of September 30, 2019.
The bank disbursed a 10 percent cash dividend for the year ended on December 31, 2019.
The bank’s paid-up capital is Tk 10.28 billion and authorized capital is Tk 20 billion while the total number of securities is 1.02 billion.
The sponsor-directors own a 31.49 percent stake in the bank, while the institutional investors own 26.91 percent, foreign investors 0.44 percent, and the general public 41.16 percent as of January 31, 2021, the DSE data shows.
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