UK-based co agrees to buy Oriental Bank
Friday, 9 November 2007
FE Report
Executive Director (Financial) Jacob Matthews and Executive Coordinator Alexane Ghestern of East Invest Private Equity Ltd, a UK-based equity company, visited Bangladesh recently. Both of them have agreed to buy the Oriental Bank Ltd as part of their investment of US$1.0 billion in the field of banking, financial institution, insurance, power plant, real estate, textile and transportation in Bangladesh, said a press release.
During their visit, they assessed the assets and liabilities of the Oriental Bank with the help of a local expert team organised by MMK Roni, director (South Asia Operation), and M Muinul Islam, deputy director (Bangladesh Operation) of East Invest Private Equity Ltd.
Prior to leaving Bangladesh, they said :"The conclusion of our visit to Bangladesh was very positive in the way that we wish now more than ever enhancing the image of the Oriental Bank by bringing a new banking scheme, new solutions with a unique panel of products in which the clients will benefit, even giving access to those who in the past were neglected.''
Executive Director (Financial) Jacob Matthews and Executive Coordinator Alexane Ghestern of East Invest Private Equity Ltd, a UK-based equity company, visited Bangladesh recently. Both of them have agreed to buy the Oriental Bank Ltd as part of their investment of US$1.0 billion in the field of banking, financial institution, insurance, power plant, real estate, textile and transportation in Bangladesh, said a press release.
During their visit, they assessed the assets and liabilities of the Oriental Bank with the help of a local expert team organised by MMK Roni, director (South Asia Operation), and M Muinul Islam, deputy director (Bangladesh Operation) of East Invest Private Equity Ltd.
Prior to leaving Bangladesh, they said :"The conclusion of our visit to Bangladesh was very positive in the way that we wish now more than ever enhancing the image of the Oriental Bank by bringing a new banking scheme, new solutions with a unique panel of products in which the clients will benefit, even giving access to those who in the past were neglected.''