MTB board approves plan to raise Tk 3.46 billion in Tier-I Capita

Business Desk :

The Board of Directors of Mutual Trust Bank PLC (MTB) has approved a proposal to raise Tier-I Capital amounting to Tk 3.46 billoin (BDT 3,460 million) to further strengthen the bank’s core capital base.

The decision was taken at the 330th meeting of the board, held on Wednesday and represents 32 per cent of the bank’s paid up capital, subject to approval from the relevant regulatory authorities.

Commenting on the decision, Syed Mahbubur Rahman, Managing Director and CEO of Mutual Trust Bank PLC, said the move was driven by the need to further strengthen the Bank’s risk based capital position amid a changing economic and regulatory environment.

He added that the capital may be raised through a rights issue, Repeat Public Offering (RPO), Strategic Investment, or any other suitable instrument, in line with the regulations of the Bangladesh Securities and Exchange Commission (BSEC).l