UCBL, IIDFCL sign Tk 3l0m loan deal
Friday, 28 September 2007
FE Report
United Commercial Bank Limited (UCBL), and Industrial and Infrastructure Development Finance Company Limited (IIDFCL) signed an agreement at the UCBL Boardroom in the city recently.
UCBL Managing Director Hamidul Huq and IIDFCL Managing Director Mahmood Malik signed the agreement on behalf of their respective financial institutions.
UCBL deputy managing directors Niaz Habib and AKM Kamal Uddin, and senior executives and officials of both institutions were present during the signing ceremony.
Under the agreement, the IIDFCL will receive Tk 200 million (20 crore) as term loan, Tk 100 million as letters of credit (LC) facility and Tk 10 million as guarantee facility for lease financing in different sectors for accelerating industrial growth and development.
The credit will be utilised in the fields of leasing of plant and machineries, transport, professional equipments, etc.
Speaking on the occasion Huq highlighting the policy of the bank assured that as a leading private sector bank in the country, UCBL will continue to expand its investment portfolio to cater to the need of the entrepreneurs in various sectors for contributing in socio-economic growth and development.
Malik in his speech assured that the funds in the related fields would be utilised for strengthening the private sector growth.
United Commercial Bank Limited (UCBL), and Industrial and Infrastructure Development Finance Company Limited (IIDFCL) signed an agreement at the UCBL Boardroom in the city recently.
UCBL Managing Director Hamidul Huq and IIDFCL Managing Director Mahmood Malik signed the agreement on behalf of their respective financial institutions.
UCBL deputy managing directors Niaz Habib and AKM Kamal Uddin, and senior executives and officials of both institutions were present during the signing ceremony.
Under the agreement, the IIDFCL will receive Tk 200 million (20 crore) as term loan, Tk 100 million as letters of credit (LC) facility and Tk 10 million as guarantee facility for lease financing in different sectors for accelerating industrial growth and development.
The credit will be utilised in the fields of leasing of plant and machineries, transport, professional equipments, etc.
Speaking on the occasion Huq highlighting the policy of the bank assured that as a leading private sector bank in the country, UCBL will continue to expand its investment portfolio to cater to the need of the entrepreneurs in various sectors for contributing in socio-economic growth and development.
Malik in his speech assured that the funds in the related fields would be utilised for strengthening the private sector growth.