Pubali Bank director to gift Tk42cr shares to son
Monir Uddin Ahmed, a shareholder-director of Pubali Bank, has announced plans to gift 1.46 crore shares of the bank to his son Kabir Ahmed.
The transfer will be executed off-market within 30 working days from 21 April, suggests the declaration made through the DSE on Wednesday (21 May).
Based on the bank's closing share price of Tk28.50 on the announcement day, the gift is valued at approximately Tk42 crore.
Keep updated, follow The Business Standard's Google news channel
According to Pubali Bank's latest shareholding report, Monir Uddin currently holds 3.77 crore or 3.27% of the bank's shares. After the transfer, his stake will be reduced to around 2%.
Earlier, on 29 April, the bank declared a 12.50% cash and a 12.50% stock dividend for the 2024 financial year. The annual general meeting to approve the dividend is scheduled for 18 June, with the record date set for 22 May.
Pubali Bank posted a consolidated net profit of Tk780 crore for 2024 – its highest ever – representing a 12% increase from the previous year.
In the first quarter of this year, the bank's consolidated net profit was reported at Tk185 crore, which was 4% higher from the previous year during the same period.
At the end of March 2025, its total disbursed loans and advances was Tk64,038 crore, and the total deposits Tk76,942 crore.
Its total classified loans stood at Tk2,600 crore, representing 4% of its total disbursed loans—5% lower than the previous year as of March-end.
On 5 May, Pubali Bank announced its plan to issue a Tk1,500 crore subordinated bond to bolster its capital base, as part of efforts to meet Basel III regulatory requirements.
