NRB Bank, Protective Islami Life Insurance get waivers for IPO | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
June 14, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, JUNE 14, 2025
NRB Bank, Protective Islami Life Insurance get waivers for IPO

Stocks

TBS Report
19 November, 2023, 10:35 pm
Last modified: 19 November, 2023, 10:38 pm

Related News

  • NRB Bank launches VISA Signature & Corporate Commercial Credit Cards
  • No customer has ever failed to withdraw money from NRB Bank
  • NRB Bank PLC elects new Deputy Managing Director
  • NRB Bank elects Chairman of Risk Management Committee
  • NRB Bank elects new chairman of Audit Committee

NRB Bank, Protective Islami Life Insurance get waivers for IPO

TBS Report
19 November, 2023, 10:35 pm
Last modified: 19 November, 2023, 10:38 pm
NRB Bank, Protective Islami Life Insurance get waivers for IPO

Highlight: 

  • From Tk100cr IPO fund, NRB Bank will invest Tk92cr in govt securities
  • Its consolidated net interest income stood at Tk78.69cr from January to September 2022, up from Tk74.12cr a year ago
  • From Tk15cr IPO fund, Protective Islami Life Insurance will invest Tk13.95cr in the capital market
  • At the end of 2022, its fund rose 76% to Tk11.64cr, from Tk6.61cr in 2021

The Bangladesh Securities and Exchange Commission (BSEC) has granted an exemption to NRB Bank and Protective Islami Life Insurance, allowing them to proceed with their initial public offerings (IPOs).

Notably, both companies had augmented their paid-up capital by issuing shares in the two years leading up to their IPO filings.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

This practice is in apparent contravention of the Public Issue Rules, which stipulate that a company cannot apply for an IPO if it increases its paid-up capital by issuing new shares within two preceding years.

In response to this deviation, the commission has imposed a condition wherein the shares issued within the two-year period before filing the IPO applications will be subject to a lock-in period of three years from the first trading day on stock exchanges.

This regulatory measure aims to balance the need for flexibility in capital expansion with the safeguarding of investor interests.

While the BSEC has already approved NRB Bank's IPO, Protective Islami Life's application is still pending.

NRB Bank raised Tk77.76 crore through the issuance of right shares in June 2021, while Protective Islami Life accumulated Tk4.50 crore in cash in December of the preceding year.

NRB Bank 

NRB Bank, a fourth-generation private sector lender, has received approval from the BSEC to raise Tk100 crore through an IPO. The bank will issue 10 crore ordinary shares through the fixed price method.

Mamoon Mahmood Shah, managing director of NRB Bank, told The Business Standard earlier, "We have obtained permission to raise the fund from the capital market during a challenging economic period in order to meet regulatory requirements. Our accountability will increase after we are listed and become more compliant."

Besides, the bank will be more capable regarding its stability and expected returns, he added.

Protective Islami Life Insurance

Protective Islami Life Insurance applied to raise Tk15 crore through an IPO under the fixed price method.

It will issue 1.5 crore ordinary shares with a face value of Tk10 apiece. The company said in its IPO prospectus that of the Tk15 crore, it will invest Tk13.95 crore in the capital market, including government treasury bonds and fixed deposit receipts.

Also, it will issue 22.5 lakh ordinary shares to its employees, which the BSEC has already approved. These shares will be locked in as per the public issue rules of the commission.

According to the prospectus, at the end of 2022, the life insurance fund of the company rose 76% to Tk11.64 crore, from Tk6.61 crore in 2021.

The total assets of the company grew to Tk37.53 crore from Tk29.53 crore in the previous year, while liabilities have come down 31% to Tk3.39 crore in 2022.

Its net premium has increased to Tk46.71 crore from Tk40.64 crore in the previous year.

At the end of 2022, the company had settled Tk24 crore of claims, up from Tk23.36 crore in 2021.

NRB Bank / Protective Islami Life Insurance Ltd

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Burnt out cars and damaged buildings are all that’s left of this street in Ramat Gan Credit: AP
    Iran threatens to strike US, UK, and French bases if they help defend Israel
  • Logo of the Bangladesh Jamaat-e-Islami. Photo: Collected
    Joint press briefing by Yunus, Tarique a breach of political norms, Jamaat says questioning CA's partiality
  • A crane removes the wreckage of the Air India Boeing 787-8 Dreamliner aircraft, which crashed during take-off from an airport, in Ahmedabad, India June 14, 2025. REUTERS
    India orders inspection of Boeing 787s after Air India crash

MOST VIEWED

  • Energy adviser Fouzul Kabir Khan with other government officials during a visit to Sylhet gas field on 13 June 2025. Photo: TBS
    I would disconnect gas supply to every home in Dhaka if I could: Energy adviser
  • BNP Acting Chairperson Tarique Rahman and Chief Adviser  Muhammad Yunus meet at Dorchester Hotel in London, UK on 13 June 2025. Photo: CA Press Wing
    National polls possible in 2nd week of February, agree Yunus, Tarique in 'historic' London meeting
  • Rescuers work at the scene of a damaged building in the aftermath of Israeli strikes, in Tehran, Iran, June 13, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
    Tehran retaliates with 100 drones after Israel strikes Iran's nuclear facilities, kills military leaders
  • From fact-checker to fact-checked: CA Press Wing’s turn in the hot seat
    From fact-checker to fact-checked: CA Press Wing’s turn in the hot seat
  • UK Prime Minister Keir Starmer, Chief Adviser Muhammad Yunus
    Disclosure of unconfirmed Yunus-Starmer meeting shows ‘diplomatic imprudence’: Analysts
  • Flight AI 379 had landed. File Photo: Hindustan Times
    Day after Ahmedabad crash, Air India flight makes emergency landing in Thailand after bomb threat

Related News

  • NRB Bank launches VISA Signature & Corporate Commercial Credit Cards
  • No customer has ever failed to withdraw money from NRB Bank
  • NRB Bank PLC elects new Deputy Managing Director
  • NRB Bank elects Chairman of Risk Management Committee
  • NRB Bank elects new chairman of Audit Committee

Features

Photos: Collected

Kurtis that make a great office wear

1d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

2d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

3d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

5d | Features

More Videos from TBS

No trade war, this time US-China in mutual agreement

No trade war, this time US-China in mutual agreement

27m | Others
Putin engages in back-to-back calls with Iran and Israel leaders

Putin engages in back-to-back calls with Iran and Israel leaders

1h | TBS World
How mobile wallets are driving the rise of digital nano loans

How mobile wallets are driving the rise of digital nano loans

1h | TBS Insight
Tehran-Tel Aviv devastated by counterattacks

Tehran-Tel Aviv devastated by counterattacks

2h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net