LankaBangla to get composite credit from Prime Bank
Tuesday, 12 October 2010
FE Report
Prime Bank Limited has recently sanctioned a composite credit facility of Tk 700 million (70 crore) in favour of LankaBanbla Finance Limited, which includes overdraft facility of Tk 250 million, loan general facility of Tk 400 million along with an L/C facility of Tk 50 million.
In this connection, an agreement on composite credit facility was signed between Prime Bank Limited and LankaBangla Finance Limited.
Prime Bank Managing Director M Ehsanul Haque and Lankabangla Finance Managing Director Mafizuddin Sarker signed the agreement on behalf of their respective organisations at Prime Bank board room in the city recently, according to a press release.
Also present at the signing ceremony were Prime Bank Deputy Managing Director Md Mehmood Husain, Head of Gulshan Branch and Executive Vice President (EVP) Nasim Sekander and Head of Lease Finance Unit and VP Md Abdul Hye, Lanka Bangla Finance SEVP A Malek Shamsher and SVP and CFO Quamrul Islam.
At present, Prime Bank maintains a portfolio of Tk 7.50 billion under lease finance unit, out of which the total finance in favour of NBFIs stands at Tk 2.0 billion (approximately).
LankaBangla managing director expressed his gratitude to Prime Bank for extending the composite credit. He said that the facility would augment their lease financing activity to a greater extent.
Managing Director of Prime Bank expressed hope the relationship between the two organisations would be strengthened in the years to come.
Prime Bank Limited has recently sanctioned a composite credit facility of Tk 700 million (70 crore) in favour of LankaBanbla Finance Limited, which includes overdraft facility of Tk 250 million, loan general facility of Tk 400 million along with an L/C facility of Tk 50 million.
In this connection, an agreement on composite credit facility was signed between Prime Bank Limited and LankaBangla Finance Limited.
Prime Bank Managing Director M Ehsanul Haque and Lankabangla Finance Managing Director Mafizuddin Sarker signed the agreement on behalf of their respective organisations at Prime Bank board room in the city recently, according to a press release.
Also present at the signing ceremony were Prime Bank Deputy Managing Director Md Mehmood Husain, Head of Gulshan Branch and Executive Vice President (EVP) Nasim Sekander and Head of Lease Finance Unit and VP Md Abdul Hye, Lanka Bangla Finance SEVP A Malek Shamsher and SVP and CFO Quamrul Islam.
At present, Prime Bank maintains a portfolio of Tk 7.50 billion under lease finance unit, out of which the total finance in favour of NBFIs stands at Tk 2.0 billion (approximately).
LankaBangla managing director expressed his gratitude to Prime Bank for extending the composite credit. He said that the facility would augment their lease financing activity to a greater extent.
Managing Director of Prime Bank expressed hope the relationship between the two organisations would be strengthened in the years to come.