MTB to raise Tier-1 capital of Tk 346cr

Mutual Trust Bank PLC (MTB) has approved a proposal to raise Tier-I capital amounting to Tk 346 crore to further strengthen the bank’s core capital base.

The decision was taken at the bank’s 330th board of directors meeting recently and represents 32 percent of the bank’s paid-up capital, according to a press release.

Commenting on the decision, Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank PLC, said the move is aimed at further strengthening 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).