Dhaka, Bangladesh (BBN)-United Commercial Bank Limited (UCB) of Bangladesh has decided to form a subsidiary company of UCB aiming to provide Mobile Financial Services (MFS), said an office disclosure on Monday.
The bank has decided to form the subsidiary company in completion of all regulatory formalities.
Initial paid-up capital of this subsidiary company will be BDT 50 million wherein UCB will hold 51 per cent of shares, said the disclosure.
The company was listed on the Dhaka Stock Exchange (DSE) in September 1986.
The company belongs to the category of ‘A’.
Of the total shares, 42.02 per cent held by sponsor/directors, 0.81 per cent held by government, 19.38 percent institutional investors while 37.79 per cent held by public, according to DSE website information.
The company’s paid-up capital is BDT 10,039.3 million and authorised capital is BDT 15,000 million while the total number of securities is 1,003,933,957.