By Mark DeWeaver. So far this has been a bad year for shareholders of Dar Es Salaam Bank (BDSI). Adjusting for July’s 23.2% rights and 18.5% bonus issues, the shares are down 36% year-to-date (as of September 10). This compares to a ytd return of -5% for the ISX index and +6% for Rabee Securities […]
2011 was a good year for HSBC’s 70%-owned subsidiary Dar Es Salam Bank (BDSI). Full-year operating and pre-tax profit rose 921% and 877%, respectively, with almost all of this gain occurring in the second half. Year-end deposits and lending were up 70% and 81% over December, 2010. Operating profit came in at IQD 9.4 bn, […]
On June 7, HSBC announced that it would be subscribing in full to Dar Es Salam Bank’s (BDSI) 46.9% rights issue. The “world’s local bank” will be buying 23.7 bn new BDSI shares at IQD 1 each for the equivalent of about US$ 20.3 mn. (See this link for the announcement .) The HSBC subscription […]
