Dhaka, Bangladesh (BBN) – Islami Bank Bangladesh Limited (IBBL) dominated the week’s turnover and gainer charts of the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
According to the statistics available with the DSE, about 61.13 million shares of Islami Bank were traded, generating a turnover of BDT 2.76 billion during the week.
It was 3.20 percent of the week’s total turnover value.
The daily average turnover for the bank was BDT 552 million last week.
The bank’s share price closed at BDT 47.80 on Thursday, the last trading session of the week, soaring nearly 30 percent over the previous week.
It was also the week’s highest gainer.
After massive reshuffle in the bank’s top positions early in this month, the bank’s share price continued to rise.
Between January 5 and January 26, the bank’s share price jumped nearly 60 percent or BDT 17.80 each.
Changes have been made to the posts of the bank’s chairman, managing director, heads of various committees and chief of the Islami Bank Foundation in line with a decision at the bank’s board meeting on January 5.
Officials said some companies bought the bulk of the local shares in the Islami Bank over the last one and a half years, leading to the latest reshuffle at its top level.
Islami Bank is a joint venture public limited company engaged in commercial banking business based on Islamic Shari’ah with 63.09 per cent foreign shareholding having largest branch network among the private sector banks in Bangladesh, according to the bank’s website.
The bank’s third quarter (Q3) consolidated earnings per share (EPS) stood at BDT 0.46 for the July-September period of 2016 as against BDT 0.33 for the same period a year ago.
Islami Bank, which was listed on the Dhaka bourse in 1985, disbursed 20 per cent cash dividend for the year ended on December 31, 2015.
The bank’s paid-up capital is BDT 16.10 billion and authorised capital is BDT 20 billion, while the total number of securities is 160.99 million.
The total market capitalisation stood at BDT 75.51 billion as on Thursday.
The sponsor-directors own 71.69 per cent stake in Islami Bank, while institutional investors own 5.04 per cent, foreign investors 6.38 per cent and the general public 16.89 per cent as on December 29, 2016, the DSE data shows.
Islami Bank was, closely followed by Beximco with about 73.72 million shares of BDT 2.63 billion changing hands, Baraka Power BDT 2.17 billion, LankaBangla Finance BDT 2.04 billion, City Bank BDT 1.73 billion, IFAD Autos BDT 1.52 billion and Saif Powertec BDT 1.48 billion.
National Bank was also included in the top ten turnover chart with 92.25 million shares worth BDT 1.42 billion changing hands, followed by Summit Power BDT 1.42 billion and Lafarge Surma Cement BDT 1.29 billion.
BBN/SK/AD