NRBC Bank to make debut on bourse Monday
The bank’s IPO subscription was held between 3 to 9 February
NRB Commercial Bank will make its debut on the country's stock exchanges on 22 March.
On 16 March, the primary shares of the private sector lender were credited to beneficiary owner (BO) accounts.
Earlier on 18 November last year, the Bangladesh Securities and Exchange Commission (BSEC) allowed the private sector lender to raise Tk120 crore from the capital market.
The bank, which was established in 2013, will invest Tk110 crore in government securities and Tk6.05 crore in the secondary market.
On 3 March, the initial public offering (IPO) lottery draw was held virtually to allocate the primary shares to general investors.
The bank's IPO subscription was held between 3 to 9 February.
As of December 2020, the lender's total classified loans stood at Tk140.1 crore, which includes 79% bad loans.
As per the Bangladesh Bank, the ratio of gross nonperforming loans to the total outstanding loans of the banking sector stood at 7.66%.
According to an audited report of the year that ended on 31 December 2019, the bank's net profit was Tk115.36 crore.
In the January-June period of 2020, the financial institution's net profit was Tk36.21 crore and its earnings per share (EPS) stood at Tk0.62.
Its net asset value per share without revaluation was Tk13.86. The bank's five-year weighted average EPS was Tk1.55 till 2019.
In the first half of last year, its net interest income was Tk81.38 crore, investment income Tk95.42 crore and total operating income Tk228.42 crore.
The bank's authorised capital was Tk1,000 crore while its paid-up capital was Tk582.52 crore and post-paid-up capital Tk702.52 crore.
Asian Tiger Capital Partners Investments and AFC Capital are the issue managers of the IPO.
The bank has 75 branches, 42 sub-branches, 23 BRTA collection booths, 13 land registration sub-branches, 229 land registration booths, and 583 agent banking partners across the country.
