Mutual Trust Bank to issue subordinated bond

Dhaka, Bangladesh (BBN)-Mutual Trust Bank Limited has planned to issue subordinated bond worth of BDT 3.0 billion.
The bond will be issued as tier-II capital of the bank, said a web post on the Dhaka Stock Exchange (DSE) on Wednesday.
Issuance of the bond is subject to the approval of regulatory authorities and general meeting of the valued shareholders of the bank, the post added.
“The company has informed that the board of directors of the company has decided to issue subordinated bond of BDT 3.0 billion as tier II capital of the bank subject to approval of regulatory authorities and general meeting of the valued shareholders,” it added.
The bank listed on the premier bourse in 2003.
The banking sector company is belonging to ‘A’ category on the DSE.
Of the total share, 47.9 percent held by sponsor or directors, 22.47 percent held by institutions and 29.63 percent share held by public, according to DSE website.
BBN/BB/SS-28Jan15-4:10pm (BST)

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