Azam J Chowdhury to increase stake in Prime Bank

Azam J Chowdhury, director of Prime Bank, wants to buy 7.50 lakh shares of the bank through the block market at the Dhaka Stock Exchange (DSE) within the next 30 days.

He intends to buy the shares at the prevailing market price. Azam is the former chairman of the bank, and his son Tanjil Chowdhury now serves as the bank's chairman. East Coast Shipping Lines Ltd is a corporate sponsor of the bank and holds a two percent share in it.

Azam J Chowdhury is on the board of Prime Bank as a director, nominated by the East Coast Shipping. The bank paid 13.5 percent cash dividend to its shareholders for the 2019 financial year.

Meanwhile, in the first half of this year, the bank posted a consolidated EPS of Tk0.48, which was 47 percent lower compared to the same period of the previous year.

The closing price of the bank's shares was Tk17.10 per share on Wednesday at the DSE; while the shares hit their highest, Tk19.90 each, within a year.

Abdus Salam, one of the sponsor directors of the NCC Bank has announced it will buy 7.5 lakh shares through the public market at the DSE within the next 30 days. He intends to buy the shares at the prevailing market price.

The NCC Bank recommended 15 percent cash and two percent stock dividends to its shareholders for the 2019 financial year.

In the first half of this year, the bank posted a consolidated EPS of Tk1.19, which was five percent lower compared to the same period of the previous year. 

The closing price of the bank's shares was Tk13.4 per share on Wednesday at the DSE, while the shares hit their highest, Tk15 each, within a year.