Home ›› 17 Mar 2023 ›› Stock
Jamuna Bank Ltd has announced to purchase a piece of 110 katha land from China Bangla Agro Feeds to expand its operations and solidify its position in the market.
The total cost of the land located at Mostul mouza in Khilkhet, as per Dhaka Stock Exchange’s filling on Thursday, to be bought after getting regulatory approval, will be Tk 137.50 crore.
Despite a decrease in earnings, this decision has been taken as part of the bank’s efforts to expand its operations and solidify its position in the market.
In its Q3 financial reports for 2022, the bank reported Tk 1.02 consolidated earnings per share (EPS) for the July-September period in 2022, a decrease from Tk 1.23 in the same period the previous year. Its consolidated EPS for January-September 2022 was Tk 4.06, a slight increase from Tk 3.87 for the same period in 2021.
The bank’s consolidated NOCFPS for January-September, 2022, was reported at Tk 17.56, a significant improvement from Tk 4.89 in the same period of the previous year.
Despite the positive improvements in NOCFPS, consolidated NAV per share decreased from Tk 32.75 on September 30, 2021, to Tk 28.93 on September 30, 2022, due to a reduction in revaluation reserve on government securities.
In addition, the bank has announced to issue a Tk 500 crore bond to strengthen its capital base in July 2022. The non-convertible coupon-bearing subordinated redeemable bond (5th phase) will enable the bank to enhance its financial position and continue quality services to its customers.
Its share price on Thursday stood at Tk 21.30 per share on the prime bourse Dhaka Stock Exchange. Additionally, it recommended a 17.50 per cent cash dividend for FY22. However, the bank has not issued any dividends since 2017.
