Prime Bank Vice Chairman Nafis Sikder To Buy 18.85 Lakh Shares Worth Tk 5.35 Crore: MJL Bangladesh Also Buys

Dhaka, September 25, 2026 — Nafis Sikder, vice chairman of Prime Bank, said he would buy 18.85 lakh shares of the bank at the prevailing market price through the block market of Dhaka Stock Exchange (DSE) within the next month. Prime Bank shares traded at Tk 28.40 today, putting the market value of the shares at Tk 5.35 crore.

💰 In a parallel move, MJL Bangladesh PLC, a corporate director of Prime Bank, also decided to buy 30.14 lakh shares of the lender at the prevailing market price through the DSE's block market within the next month. The shares have a market value of Tk 8.56 crore.

📊 Transaction Details

Nafis Sikder (Vice Chairman)

• 💰 Shares to buy: 18.85 lakh (1,885,000 shares)
• 💰 Share price: Tk 28.40 per share
• 💰 Total transaction value: Tk 5.35 crore
• 💰 Transaction method: DSE block market
• 💰 Timeline: Within the next month

MJL Bangladesh PLC (Corporate Director)

• 💰 Shares to buy: 30.14 lakh (3,014,000 shares)
• 💰 Share price: Tk 28.40 per share
• 💰 Total transaction value: Tk 8.56 crore
• 💰 Transaction method: DSE block market
• 💰 Timeline: Within the next month

Combined Transaction

• 💰 Total shares to be purchased: 48.99 lakh (4,899,000 shares)
• 💰 Total transaction value: Tk 13.91 crore

💼 Why Insider Buying Matters

Insider buying — the purchase of shares by company directors, officers, or major shareholders — is typically interpreted as a positive signal by the market. When insiders buy shares, it suggests:

• ✅ Confidence in the company's future — insiders believe the share price will rise.
• ✅ Belief that shares are undervalued — at current market prices.
• ✅ Alignment of interests — with shareholders.
• ✅ Financial strength — insiders have the resources to invest.

The fact that both the vice chairman and a corporate director are buying shares simultaneously reinforces this positive signal.

🏦 Prime Bank: Company Profile

Prime Bank is one of Bangladesh's leading private commercial banks. Key facts:

• 🏦 Listed on: Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
• 🏦 Current share price: Tk 28.40 per share.
• 🏦 Bank type: Private commercial bank.
• 🏦 Services: Retail banking, corporate banking, SME banking, Islamic banking, and digital banking.
• 🏦 Branch network: nationwide presence across Bangladesh.

🏢 MJL Bangladesh PLC: The Corporate Director

MJL Bangladesh PLC (formerly Mobil Jamuna Lubricants) is a publicly listed company that is a corporate director of Prime Bank. MJL is a joint venture between Jamuna Oil Company (a state-owned enterprise) and EC Securities Limited (a local conglomerate). MJL's decision to increase its Prime Bank shareholding:

• 💼 Strengthens the corporate director's position in Prime Bank's governance.
• 💼 Signals confidence in the bank's strategic direction.
• 💼 Aligns with MJL's investment strategy — of holding strategic stakes in financial sector entities.

📋 Bangladesh's Block Market: How It Works

The transactions will be executed through the DSE's block market — a separate trading platform designed for large-volume transactions. Key features:

• 📋 Minimum transaction size: typically Tk 1 crore or a specified number of shares.
• 📋 Price negotiation: buyers and sellers negotiate prices outside the regular order book.
• 📋 Reduced market impact: large transactions don't disrupt regular trading.
• 📋 Transparency: block market transactions are reported to the exchange and made public.
• 📋 Regulatory oversight: BSEC monitors block transactions for insider trading and market manipulation.

📈 Implications For Prime Bank's Share Price

The insider buying announcements could have several effects on Prime Bank's share price:

• 📈 Short-term price support — the announcement itself may attract retail investor interest.
• 📈 Increased trading volume — as the market digests the insider buying signal.
• 📈 Improved market sentiment — towards Prime Bank specifically and the banking sector more broadly.
• 📈 Reduced share price volatility — as insider buying provides a price floor.

🏛 Bangladesh's Banking Sector Context

Prime Bank's insider buying comes against the backdrop of a challenging period for Bangladesh's banking sector:

• 🏦 Elevated non-performing loans (NPLs) — across the sector.
• 🏦 Banking sector reform pressure — from the IMF programme.
• 🏦 Islami Bank governance crisis — with one-member board and MD vacuum.
• 🏦 BB tightening of nominee director rules — improving governance.
• 🏦 DSE brokerage scam compensation — for 17,332 affected investors.

Against this backdrop, the insider buying at Prime Bank signals that at least some banks are positioned to weather the sector's challenges — with insiders willing to commit additional capital.

💼 Wider Capital Market Implications

The Prime Bank insider buying also has implications for Bangladesh's broader capital market:

• 💰 Investor confidence — insider buying is a positive signal for market sentiment.
• 💰 Banking sector valuation — the Tk 28.40 share price may be seen as undervalued.
• 💰 Block market activity — the transaction demonstrates the block market's role in facilitating large share purchases.
• 💰 Corporate governance signal — insiders aligning their interests with shareholders.

📜 Looking Ahead

For Prime Bank, the insider buying is expected to:

• 📝 Strengthen the bank's capital position — through additional share purchases.
• 📝 Improve market perception — of the bank's financial health.
• 📝 Support share price stability — during a period of broader sector volatility.
• 📝 Reinforce governance — with directors demonstrating financial commitment.

The transactions are expected to be completed within the next month — with the actual execution timing dependent on market conditions and block market availability. For investors, the insider buying at Prime Bank provides a data point for assessing the bank's prospects — and the broader banking sector's trajectory in the coming months.