Company · DSE:JAMUNABANK · Banks · Initiation · 31 Oct 2026
Jamuna Bank: fair value range BDT 9–29; 2025's doubled profit leaned on a 19.6% tax rate and bond gains, and Tk939 crore of paid-up capital bars cash dividends
Fair value range BDT 9–29 (base 17); the price of 23.5 sits in the upper half. Jamuna now holds more government securities than loans and earns its profit on the gap between a 6–7% deposit cost and 9–10% bond yields, with equity of 6% of assets. Our sustainable ROE after the perpetual-bond coupon, 11.7%, is close to its FY2022–25 median on the same basis (10.6%) and well below a 16% cost of equity.
Fair value ৳9–29 · price ৳23.50 (2026-10-29)