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The board of directors of Jamuna Bank Ltd has decided to purchase land from China Bangla Agro Feeds worth more than Tk 1.37 billion excluding the cost of registration and other related expenses.
The land measuring area is more or less 110 katha situated at Khilkhet in Dhaka, said the company in a regulatory filing on Thursday.
The purchase of the land is subject to obtaining necessary approval from regulatory bodies – such as Bangladesh Bank and Bangladesh Securities and Exchange commission, according to the filing.
Jamuna Bank was listed in the stock market in 2006.
Its stock price has been languishing at the floor price of Tk 21.30 since September 13 last year.
The bank’s nine months’ consolidated EPS stood at Tk 4.06 for January-September 2022 as against Tk 3.87 for January-September 2021.
In 2021, the bank disbursed 17.50 per cent cash dividend.
The private commercial bank is also in the process of setting up an exchange house in Spain for transferring remittances to Bangladesh through the banking channel.
To establish the exchange house, the private sector lender has already obtained approval from the Bangladesh Bank and the respective regulators of Spain.