UCB to issue BDT 3.5 billion subordinated bond

Dhaka, Bangladesh (BBN) – The Extraordinary General Meeting (EGM) of United Commercial Bank Ltd. was held at Chittagong Club Limited in Chittagong on Thursday.

Chairman of the Bank Akhtaruzzaman Chowdhury, MP presided over the meeting. The shareholders present at the meeting approved the proposal for issuing of non-convertible subordinated bond of BDT 3.5 billion.

The Chairman in his speech highlighted that the ‘social contract’ between the corporation and the community is of critical importance for UCB. Besides banking business the Bank has adopted CSR practices in a formal, structured manner in line with their organizational vision to help the disadvantaged population of the country.

Bank’s ongoing and future CSR initiatives focus on Green environment, Less Fuel consumption and energy saving, Extensive literacy programs, Promoting Sports and Culture from grass-root level etc.

BBN/SSR/AD-21Oct11-10:22 am (BST) 

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