Rumee A Hossain, Managing Director of Rangs Industries and sponsor-director of Bank Asia, plans to sell 20 lakh shares of Bank Asia on the Dhaka Stock Exchange within the next 30 working days, valued at around Tk3.20 crore at the current price of Tk16 per share. Rumee currently holds 3.98 crore shares. Sponsors and directors own 51.43% of the bank, institutional investors 39.34%, and the public 9.23%. Bank Asia reported a 16% growth in consolidated net profit in 2024 to Tk286.79 crore, with EPS rising to Tk2.14, though classified loans increased 72% to Tk3,347.79 crore. In Q1 2025, net profit jumped 113% to Tk166 crore, with EPS rising to Tk1.42.
According to the disclosure filed with the DSE on 3 July, the shares will be offloaded on the public market within the next 30 working days.
Rumee A Hossain, who serves as Managing Director of Rangs Industries and sponsor-director of Bank Asia, has announced plans to sell 20 lakh shares of Bank Asia at the prevailing market price through the DSE.
According to a disclosure submitted to the Dhaka Stock Exchange (DSE) yesterday (3 July), Rumee A Hossain plans to sell 20 lakh shares of Bank Asia in the public market within the next 30 working days.
Currently, Rumee holds a total of 3.98 crore shares in the bank. Based on the closing price of Tk16 per share on 3 July, the proposed sale is valued at approximately Tk3.20 crore. Notably, on the same day, Bank Asia’s shares gained 1.27%.
As per the latest shareholding report from May, sponsors and directors collectively own 51.43% of Bank Asia’s total shares, while institutional investors hold 39.34%, and the general public controls 9.23%.
Earlier, in April, Bank Asia declared a dividend payout of 10% cash and 10% stock for 2024. This announcement came alongside a reported 16% growth in the bank’s consolidated net profit, which rose to Tk286.79 crore. For comparison, the bank had issued a 15% cash dividend in 2023.
The bank’s consolidated earnings per share (EPS) increased to Tk2.14 in 2024 from Tk1.79 the previous year, highlighting improved profitability. According to the bank’s financial statements, this profit growth was largely driven by higher returns on investments in government securities.
However, the bank also experienced a significant rise in classified loans, which surged by 72% year-on-year to Tk3,347.79 crore in 2024. This amount represents 11.39% of the bank’s total loan disbursement.
Looking ahead, Bank Asia posted an impressive 113% year-on-year increase in consolidated net profit for the first quarter of 2025, reaching Tk166 crore. The EPS for this period climbed sharply to Tk1.42 from Tk0.67 recorded in the same quarter the previous year.
