EXIM Bank to raise Tk 6.0b through Mudaraba bond
The board of directors of Exim Bank has decided to issue Mudaraba Subordinated Bond (fifth Issue) for Tk 6.0 billion.
The private commercial bank will issue the bond as a process of inclusion in Tier-II capital as “Subordinated debt”, for a period of seven years tenure through private placement.
The bond issue is subject to approval by concerned regulatory authorities – Bangladesh Bank and Bangladesh Securities and Exchange Commission and compliance of all formalities in this respect, according to a disclosure on Thursday.
The bank’s first quarter’s earnings per share dropped 44 per cent year-on-year to Tk 0.14 for January-March 2023 due to increase in provision for investments and other assets.
Listed in 2004, the bank’s stock remained stuck at floor at Tk 10.4 since October last year. Its share tried to break the floor in April this year but failed.