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Company valuation reports, peer comparisons, results notes, industry reports and macro views, built from company filings and official data and independently reviewed before publishing. Company reports show their full model as view-only sheets. Facts and estimates, not investment advice.
6 articles.
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Company · DSE:TRUSTBANK · Banks · Analysis · 31 Oct 2026
Trust Bank: net interest income fell to 0.9% of earning assets in 2025 and to BDT 317m in H1 2026, while treasury income and a BDT 27.5bn special-mention book grew
Trust Bank's reported classified-loan ratio fell from 6.36% to 4.39% in 2025, but the bank wrote off BDT 10.9bn, special-mention loans rose from BDT 7.2bn to BDT 27.5bn, and the auditor says a significant proportion of classified borrowers were reported as unclassified after special rescheduling. Interest paid took 89% of interest income in 2025 and 98% in H1 2026; government securities and their income now carry the bank. Consolidated CRAR is 12.76% against 12.5% required.
Company · DSE:EBL · Banks · Initiation · 31 Oct 2026
Eastern Bank: fair value range BDT 20–40; the Tk2,000 crore rule stops cash dividends while paid-up capital is Tk1,644 crore
Fair value range BDT 20–40 (base 29); the price of 23.7 sits in the lower half. Its investment income now exceeds net interest income (gross loan interest is still larger); funding cost, asset quality and a dividend year without cash decide value.
Fair value ৳20–40 · price ৳23.70 (2026-10-29)
Company · DSE:PUBALIBANK · Banks · Initiation · 31 Oct 2026
Pubali Bank: fair value range BDT 17–39; bonds earned about BDT 12.3bn net of funding in FY2025 against 32bn from lending
Fair value range BDT 17–39 (base 30); the price of 42.9 is above the range. Deposits grew 21% in nine months and went into government bonds; yields on those bonds, rescheduled loans and the Tk2,000 crore cash-dividend rule decide value.
Fair value ৳17–39 · price ৳42.90 (2026-10-29)
Company · DSE:PRIMEBANK · Banks · Initiation · 31 Oct 2026
Prime Bank: bonds earn 34% of gross income and falling yields set value; fair value BDT 7–39
Fair value BDT 7–39 (base 25) against a price of 29.4. Bond yields decide which end; a new rule bars cash dividends until paid-up capital reaches Tk2,000 crore.
Fair value ৳7–39 · price ৳29.40 (2026-10-29)
Company · DSE:MERCANBANK · Banks · Analysis · 29 Oct 2026
Mercantile Bank: classified loans at 15.19%, a Tk2,139 crore provision shortfall carried under Bangladesh Bank forbearance, and net interest income near zero
Mercantile Bank, a private commercial bank listed since 2003, kept growing deposits through 2024-2025, but its classified-loan ratio jumped from 6.08% to 17.25% in 2024 and its spread business has almost disappeared. Profit now comes from government securities, and the 2025 accounts leave out Tk2,139.31 crore of required provisions with BB's permission. This note sets out the filings.
Company · DSE:MIDLANDBNK · Banks · Analysis · 29 Oct 2026
Midland Bank: a 3.1% NPL bank whose interest margin has turned negative, now earning its living from treasury bills, and 66% short of the Tk2,000 crore paid-up line
Deposits grew 2.5 times in eight years and the classified-loan ratio stayed near 3%, but interest paid exceeded interest income in 2025, government-securities income was 104% of operating income, and paid-up capital of Tk679 crore bars cash dividends from FY2026 under Bangladesh Bank's new rule.