(NBB Promoter Share) IFIC Bank Emptying All Holding of Nepal Bangladesh Bank

(NBB Promoter Share) IFIC Bank Emptying All Holding of Nepal Bangladesh Bank

IFIC Bank Emptying All Holding Share of Nepal Bangladesh Bank

The 37 First meeting of the board of directors of Nepal Bangladesh Bank held on Ashar 28 has approved the application of IFIC Bank Limited to sell all 36,827,426 shares of Nepal Bangladesh Bank under its ownership. With this decision, IFIC bank can also sell all bonus shares received for the fiscal year 2077/78.

Useful Links:

• Click Here To View TMS Broker List in Nepal
• List of Upcoming IPO Share in Nepal
• How to Renew Your Meroshare & DEMAT Account
• Check Union Life Insurance IPO Result

Existing promoters can bid for the shares within 35 days from the first unveiling of the notice. The promoters should specify the quantity and the rate at which they want to buy the promoter shares. The seller IFIC Bank is free to pick the buyers, irrespective of the buyer's bid rate or quantity.

This holding makes up over 40.89% of Nepal Bangladesh Bank. The promoter : public shareholding ratio of NBB is 51.65: 48.35. The ordinary shares of NBB closed at Rs. 415 yesterday. Nepal Bangladesh Bank has published its third-quarter report for the FY 2077/78 with an outstanding rise in net profit by 63.02%.

The bank’s profit has increased from Rs 1 Arba in the third quarter of the fiscal year 2076/77 to Rs 1.63 Arba in the third quarter of the fiscal year 2077/78. In the same quarter, the bank has Rs 98.32 crore as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposit from customers increased by 10.32% (compared to the immediate previous year ending) to Rs 73.29 Arba and loans and advances to customers increased by 12.12% (compared to the immediate previous year ending) to Rs 66.27 Arba in the third quarter. The net interest income of the bank has decreased by 7.35% to Rs 1.98 Arba from Rs 2.14 Arba of the corresponding quarter.

The bank’s paid-up capital stands at Rs 9 Arba with Rs 5.89 Arba as its reserve and surplus.The Non-Performing Loan (NPL) has decreased to 1.91% from 2.76%. In the third quarter, the annualized EPS of the bank stands at Rs 24.26. The net worth per share stands at Rs 165.46 and the qtr end PE ratio stands at 16.16 times.