City Bank allots equity shares to IFC
Thursday, 5 October 2017
City Bank Ltd has recently issued 5.0 per cent of its outstanding number of common equity to the International Finance Corporation (IFC) as per approval of relevant regulatory authorities.
This allotment of shares completed in accordance with an agreement signed between City Bank and IFC in February, 2016, according to a statement.
From now on, IFC will have its representative in the bank's Board and it will actively contribute towards the progressive growth of the bank. A programme was arranged on Tuesday to celebrate this milestone. MD & CEO of the Bank Sohail RK Hussain handed over a crest to Regional Industry Head, IFC, Asia Vittorio Di Bello on the occasion.
Other senior officials from both the organisations were also present.