Trade in NB Bank shares picks up after a protracted dry spell

Nepal Bangladesh Bank shares have been trading for up to Rs 400 per share, with around 1 lakh units being traded every day. While until a few weeks ago, the price of the shares remained below Rs 290, at its peak, an NB Bank share traded at a price as high as Rs 3,400.

The recent surge in the NB Bank’s share price has been attributed to the acquiring of 51 percent stake in the bank by Bangladesh-based IFIC Bank and the appointment of Mohammad Lusfar Rehman as the chairman NB Bank’s board.

While NB Bank earned a net profit of Rs 59.7 crore in the FY 2069/70, its EPS stood at 9.40 and NPA declined to 3.14%. A comparison of its balance sheet would put the bank on par with Bank of Kathmandu, NIC Asia and Global IME.

All signs indicate that the transaction in NB Bank shares is likely to grow further in the coming days.
-sharesansar