Pubali Bank raises Tk 500cr thru fifth subordinated bond

Pubali Bank PLC has raised Tk 500 crore through its fifth subordinated bond with the assistance of UCB Investment Limited, a concern of United Commercial Bank PLC.

UCB Investment Limited, one of the leading investment banks in Bangladesh, acted as the arranger of the bond.

According to a press release, this marks the fourth milestone transaction between UCB Investment and Pubali Bank PLC.

The bank organised a programme at its head office in Dhaka to mark the closing ceremony of the transaction.

The proceeds from the bond issuance will strengthen Pubali Bank’s Tier-II capital base, enabling the bank to expand its lending capacity, serve a wider customer base and contribute to the country’s overall economic development.

Mohammad Ali, managing director and chief executive officer of Pubali Bank PLC, and Tanzim Alamgir, founding managing director and chief executive officer of UCB Investment Limited, along with other senior officials from both organisations, were present at the programme.