NRBC Bank sponsor to sell another 30 lakh shares
Previously, the sponsor sold another 60 lakh shares
Syed Munsif Ali, a sponsor of NRBC Bank, has once again announced his intention to sell another 30 lakh shares from his holdings of 83.54 lakh shares in the bank.
In a disclosure by the bank today (21 September) on the stock exchanges, the shares to be sold through the public market on the Dhaka Stock Exchange (DSE) within the next 30 working days at the prevailing market price.
Shares of NRBC Bank closed at Tk6.5 each yesterday, a 1.52% down from the previous trading session.
Keep updated, follow The Business Standard's Google news channel
Previously, Munsif Ali, sold another 60 lakh shares within 28 August to 15 September.
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.
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 downward trend in profitability persisted into 2025, with consolidated net profit plunging 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.
