Premier Bank sponsor Nurul Amin to consolidate 2% stake via family gifts
At present, Amin owns 85.79 lakh shares in the bank.
Premier Bank PLC sponsor shareholder Nurul Amin has announced plans to consolidate his shareholdings to meet the regulatory requirement for joining the bank's board of directors.
According to a disclosure filed with the Dhaka Stock Exchange today (23 May), Amin will receive 1.62 crore shares as gifts from family members to comply with a directive issued by the Bangladesh Securities and Exchange Commission.
The regulator requires any individual seeking to serve as a director of a listed company to personally hold at least a 2% stake in the company.
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At present, Amin owns 85.79 lakh shares in the bank. Upon completion of the transfers, his holdings will increase to 2.47 crore shares, enabling him to meet the required threshold.
Under the arrangement, Amin will receive 1.5 crore shares from his spouse Ferdous Amin and another 12 lakh shares from his son Adib Amin, both of whom are registered general shareholders of the bank.
The transfers, to be executed outside the trading system as gifts, are scheduled to be completed within 30 working days from 19 May 2026.
Following the disclosure, investor interest in the bank saw a modest rise, with Premier Bank's share price gaining 2.56% to close at Tk4.00 on the DSE today.
Despite the market reaction, the bank remains under considerable financial and regulatory stress. In 2025, Premier Bank posted a net loss of Tk993 crore, largely due to a provision shortfall amounting to Tk6,089 crore.
The bank also failed to declare dividends for two consecutive years, resulting in its downgrade to the "Z" or junk category on the stock exchanges for the first time in its history.
The financial pressure continued into 2026, with the bank reporting a consolidated net loss of Tk107 crore for the January-March quarter.
Earlier in August 2025, Bangladesh Bank dissolved the bank's board, citing serious lapses in corporate governance, weak loan discipline, and overall mismanagement.
The bank is currently being run by a reconstituted six-member board.
Arifur Rahman, founding vice-chairman and entrepreneur shareholder, was elected chairman representing the sponsors, while the remaining five positions are occupied by independent directors appointed by the central bank, including former banking officials and academic and professional experts.
