Rupali Bank's profit jumps 29% in Jan-Mar
During the first quarter of 2024, its earnings per share was Tk0.49, which was Tk0.38 at the same time a year ago.
State owned Rupali Bank's net profit jumped by 29% in the January-March of this year compared to the previous year, according to the bank's financial statement disclosed today (1 June).
During the first quarter of 2024, its earnings per share was Tk0.49, which was Tk0.38 at the same time a year ago.
At the end of March, its net asset value per share stood at Tk36.07.
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On Thursday, Rupali Bank shares closed 1.20% higher at Tk25.20 on the Dhaka Stock Exchange (DSE).
Earlier, in May, Rupali Bank was downgraded to the Z category in Dhaka bourse, as it failed to declare any dividends for two consecutive years.
The DSE downgraded the bank from its existing B category in line with the directive of the Bangladesh Securities and Exchange Commission issued on 15 February.
The bank decided not to pay any dividend to its shareholders for 2022 and 2023.
However, according to its financials, its consolidated earnings per share increased to Tk1.35 at the end of 31 December 2023, which was Tk0.61 in 2022.
In March, Rupali Bank received approval from the finance ministry to issue ordinary shares, against the share money deposits of Tk700 crore.
As per finance ministry officials, the issuance of ordinary shares priced at Tk15 each, comprising a Tk5 premium and Tk10 face value, has been approved.
The shares issuance is subject to approval of the Bangladesh Securities and Exchange Commission.
