Dhaka, Bangladesh (BBN) - State-owned Rupali Bank Limited is going to start merchant banking through establishing a subsidiary company -- Rupali Investment Limited – soon, officials said on Tuesday.
“We’ve received an approval letter from the Securities and Exchange Commission (SEC) in this connection,” a senior official of the Rupali Bank told BBN in Dhaka.
He also said the subsidiary company will launch with BDT 1.0 billion paid up capital along with BDT 5.0 billion as authorized capital initially. “Both the paid up capital and authorized capital will be increased by turns,” he added.
BBN/SSR/AD-09Aug11-4:44 pm (BST)
