Eastern Bank to issue Tk 800 crore bond

Eastern Bank PLC (EBL) is set to issue a Tk 800 crore bond to strengthen its capital.

The unsecured, non-convertible, fully redeemable, floating rate bond will have a tenure of seven years, according to a disclosure posted by the bank on the Dhaka Stock Exchange (DSE) website.

On May 12, the bank's board in a meeting approved the bond, which is subject to approval from the relevant regulatory authorities.

In a separate disclosure, the private commercial bank reported a profit of Tk 181.92 crore in the first quarter of 2025, whereas the profit figure stood at Tk 659.9 crore for the whole 2024.

The bank's consolidated earnings per share rose 6 percent year-on-year to Tk 1.14 for the January-March quarter.

The consolidated net operating cash flow per share surged to Tk 12.18 for January-March 2025, from Tk 2.14 (restated) in the corresponding period a year ago.

As of March 31, 2025, sponsor-directors held 30.67 percent of the company's shares, institutional investors 44.46 percent, foreign investors 0.48 percent, and general public 24.39 percent, DSE data showed.