The board of directors of Social Islami Bank Ltd (SIBL) has decided to raise Tk 5.0 billion through issuance of Mudaraba Perpetual Bonds, said an official disclosure on Sunday.
The bank will issue the bond for raising fund as additional Tier-1 (AT -1) capital to support the bank’s Basel III compliance in line with Bangladesh Bank Guidelines on Risk Bases Capital Adequacy dated December 2014, said the disclosure.
The issuing of bonds is subject to the approval from concerned authorities — Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC) and complying with regulatory requirements, the disclosure added.
Each share of the bank, which was listed on the Dhaka Stock Exchange (DSE) in 2000, closed at Tk 13.70 on Thursday last.
The bank’s share traded between Tk 12.10 and Tk 19.70 in the last one year.
The consolidated earnings per share (EPS) stood at Tk 0.35 for July-September 2019 as against Tk 0.40 for July-September 2018.
In first nine months, the consolidated EPS was Tk. 0.74 for January-September 2019 as against Tk. 0.78 for January-September 2018.
The consolidated NOCFPS was Tk. 16.28 for January-September 2019 as against negative Tk. 5.11 for January-September 2018.
The consolidated NAV per share was Tk. 18.41 as on September 30, 2019 and Tk. 16.66 as on September 30, 2018.
The bank disbursed 10 per cent stock dividend for the year ended on December 31, 2018.
SIBL’s paid-up capital is Tk 8.93 billion and authorised capital is Tk 10 billion, while the number of securities is 893.34 million.
The sponsor-directors own 30.04 per cent stake in the bank, while institutional investors own 49.15 per cent, foreign 1.33 per cent, and the general public 19.48 per cent as on November 30, 2019.