The Financial Express
Swasti Lankabangla Swasti Lankabangla

NCC Bank's EPS jumps 110pc in Q1

| Updated: May 26, 2020 16:08:19

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National Credit and Commerce Bank's consolidated earnings per share jumped 110 per cent year-on-year in the first quarter (Q1) for January-March, 2020 despite ongoing Covid-19 pandemic.

The board of directors of the bank in a meeting held through digital platform recently approved the un-audited first quarter financial statements and disclosed the information.

As per the disclosure, the bank's consolidated earnings per share (EPS) stood at Tk 0.84 for January-March 2020 which was Tk 0.40 for the same quarter of the previous year.

The consolidated net asset value (NAV) per share of the bank was Tk 21.90 for January-March, 2020 which was Tk 19.61 in the same quarter last year.

The consolidated net operating cash flow per share (NOCFPS) was Tk 3.59 for January-March 2020 which was Tk 0.55 in negative for January-March 2019.

The bank's EPS on solo basis stood at Tk 0.85 for January-March 2020 which was Tk 0.40 for January-March 2019.

Each share of the bank, which was listed on the Dhaka Stock Exchange in 2000, closed at Tk 12 on March 25, the last trading session before the government holidays started.

In the last one year, its share traded between Tk 11 and Tk 16.30 each.

Recently, the board of directors of the bank has recommended 17 per cent cash dividend for the year ended on December 31, 2019.

However, the bank will not be able to disburse dividend until September 30 this year as the central bank recently instructed banks not to give any cash dividend to both sponsors and investors until September 30.

The central bank instructed the banks to boost their capacity to absorb the strain on their capital base from the ongoing economic fallout due to Covid-19 pandemic.

The NCC Bank disbursed 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2018.

The bank's paid-up capital is Tk 9.27 billion and authorised capital is Tk 20 billion, while the total number of securities is 927.37 million.

The sponsor-directors own 36.74 per cent stake in the bank, while the institutional investors own 18.88 per cent, foreign investors 1.11 per cent and the general public 43.27 per cent as on February 29, 2019, the DSE data shows.


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