NRBC Bank sponsor to offload another 30 lakh shares

Syed Munsif Ali, a sponsor of NRBC Bank, has announced his intention to sell 30 lakh shares of the bank on the Dhaka Stock Exchange (DSE) within the next 30 working days at the prevailing market price.

The disclosure comes shortly after Ali, who holds 1.13 crore shares in the company, completed the sale of another 30 lakh shares on 4 September through the DSE.

Munsif Ali, a permanent Canadian resident and an engineer by profession, is engaged in the real estate business as the chairman and CEO of Multiplan Canada Limited and Multiplan Limited in Bangladesh. He was also the founding chairman of Golden Life Insurance Limited.

His continued offloading of stakes in NRBC Bank has drawn attention from market observers, particularly at a time when the bank is grappling with steep financial setbacks.

The bank declared no dividend for 2024, a year in which its consolidated net profit plunged by 98% to just Tk4.47 crore compared to the previous year. 

The trend of declining profitability persisted into 2025, as its consolidated net profit dropped by 89% year-on-year to Tk6.91 crore in the first half. 

Rising non-performing loans have compounded the pressure, with classified loans reaching Tk3,797 crore by June, representing 24% of the bank's total disbursed loans.

NRBC Bank's shares closed at Tk6.40 each on Thursday at the Dhaka bourse, reflecting subdued confidence amid concerns about governance, asset quality, and future earnings. 

Analysts said the sponsor's repeated share sales could further weigh on sentiment, though bargain hunters may see value if the stock stabilises.