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The board of directors of First Security Islami Bank has decided to issue fully redeemable non-convertible "Mudaraba Subordinated Bond".
The non-convertible subordinated bond will be Tk 7.0 billion and fund will be raised through private placement with seven years' maturity, said an official disclosure on Thursday.
The bank will issue the bond for raising fund to meet capital requirement under Basel III and strengthen its regulatory capital base.
The bond issue is subject to approval of the regulatory authorities like Bangladesh Securities and Exchange Commission (BSEC) and Bangladesh Bank (BB), said the disclosure.
The bank's share price fell 1.96 per cent to close at Tk 10 on Thursday. Its share price traded between Tk 9.80 and Tk 17 in last one year.
As per unaudited financial statements of the bank, consolidated earnings per share (EPS) stood at Tk 0.13 for July-September 2018 as against Tk 0.24 for the same period last year.
In nine months from January to September 2018, consolidated EPS was Tk 0.58 as against Tk 0.97 for the same period in 2017.
The consolidated net operating cash flow per share (NOCFPS) was minus Tk 6.14 for January-September 2018 as against minus Tk 9.47 for January-September 2017.
The consolidated net asset value (NAV) per share was Tk 15.60 as of September 30, 2018 and Tk 14.26 as of September 30, 2017.
First Security Islami Bank, which was listed on the Dhaka bourse in 2008, disbursed 10 per cent stock dividend for the year ended on December 31, 2017.
In 2016, the bank disbursed 5.0 per cent cash and 5.0 per cent stock dividend.
The sponsor-directors hold a 37.22 per cent stake in the bank while institutional investors own 12.98 per cent, foreign investors 4.87 per cent and general people 44.94 per cent as of September 30, 2016.
The company's paid-up capital is Tk 10 billion and authorised capital is Tk 7.84 billion while total number of securities is 784.09 million, according to statistics available from the DSE.
According to a statement, the First Security Islami Bank Limited (FSIBL) has launched its mobile app 'FSIBL Cloud' at the time of the 19th anniversary celebration on Thursday.
Syed Waseque Md. Ali, Managing Director of the bank, inaugurated the mobile app. The bank celebrated its 19th anniversary at a simple ceremony at its head office on Thursday.
Among others, Abdul Aziz, Additional Managing Director, Md. Mustafa Khair, Deputy Managing Director, and Divisional Heads and other high officials were also present on the occasion.