BSEC

AB Bank, ONE Bank to increase paid-up capital of subsidiaries

Last updated: May 30, 2016

Dhaka, Bangladesh (BBN)-The board of directors of AB bank and ONE bank have decided to increase the paid-up capital of subsidiaries, said both banks official disclosure on Monday.
AB Bank: AB Bank has informed that the board of directors of the bank has decided, in accordance with Bangladesh Bank approval, to increase the paid-up capital of AB Investment Limited (ABIL), a 99.99 per cent owned subsidiary company of AB Bank, from BDT 298,85,68,250 to BDT 600,00,00,000.
The bank will increase the paid-up capital of AB Investment by injecting additional paid-up capital of BDT 301,14,31,750 (by conversion of share money deposit to paid-up capital is BDT 219,99,99,000 and conversion of loan to paid-up capital is BDT 81,14,32,750 subject to the approval of Bangladesh Securities and Exchange Commission (BSEC), said the disclosure.
ONE Bank: The bank has informed that the board of directors of the has approved to increase the paid-up capital from BDT 2.0 billion to BDT 2.50 billion of ONE Securities Limited, a 99 per cent owned subsidiary company of ONE Bank, to facilitate business expansion of ONE Securities subject to the approval of the concerned regulatory bodies.
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