Rupali Bank to be downgraded to Z category in Dhaka bourse
Rupali Bank has been downgraded to the Z category in Dhaka Stock Exchange with effect from 5 May, as it failed to declare any dividends for two consecutive years.
The Dhaka bourse downgraded the bank from its existing "B" category in line with the directive of the Bangladesh Securities and Exchange Commission (BSEC) issued on 15 February.
The bank decided not to pay any dividend to its shareholders for 2022 and 2023.
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However, according to its financials, its consolidated earnings per share (EPS) increased to Tk1.35 at the end of 31 December 2023, which was Tk0.61 in 2022.
The DSE requested stock brokers and merchant bankers to abstain from providing loan facilities to purchase shares of Rupali Bank PLC.
Meanwhile, today (2 May), Rupali Bank shares fell by 15.06% to Tk23.1 till 10:51am at the DSE as there is no price limit for today owing to the annual corporate declaration.
