Rubel Aziz, a director of City Bank, on Tuesday, expressed his intention to sell 34 lakh shares from his holdings in the bank at the current market price, reports The Business Standard.

According to a disclosure on the Dhaka Stock Exchange (DSE) website, he wants to sell the shares in the public market of the DSE by 31 October. After the sale, his total stake in the bank will reduce to 2.02%. Rubel currently owns over 3.08 crore shares of the bank.

However, City Bank's shares closed at Tk22 on Tuesday, a 2.22% drop from the previous session.

Rubel Aziz, the managing director of Partex Group, served as the bank's chairman from December 2011 to October 2016. He is currently chairman of the board's executive committee of the bank.

Meanwhile, City Bank's consolidated net profit for the first half of 2024 increased by 5% to Tk250 crore compared to the same period last year.

According to the price-sensitive information of the private sector lender, its consolidated earnings per share (EPS) for the January-June period was Tk1.85, up from Tk1.76 a year ago.

As of 30 June, the bank's consolidated net asset value per share stood at Tk28.12, and the consolidated net operating cash flow per share was Tk2.88.

In the April-June quarter, its consolidated net profit was Tk157 crore, marking a 6% growth from the same period the previous year.

During this quarter, the consolidated EPS was Tk1.17, up from Tk1.10 a year ago.

The bank has declared a 15% cash dividend and a 10% stock dividend for the financial year ending 31 December 2023.

Last year, its net profit was Tk638 crore, a 33% increase from the previous year.

Source: Bangladesh Pratidin (Translated)

BDST: 1545 HRS, OCT 15, 2024