City Bank completes subscription of subordinated bond

FE Team | Published: June 06, 2022 00:16:57

City Bank recently successfully completed the subscription of the bank's 4th Subordinated Bond worth BDT 7.00 billion, where City Bank Capital Resources Ltd and IDLC Investments Ltd were the lead arranger and trustee of the issue respectively.
The issue has enhanced Tier-II capital of City Bank following "Guideline of Risk Based Capital Adequacy" of Bangladesh Bank. Therefore, it ultimately increased issuer's Capital to Risk-weighted Asset Ratio (CRAR).
Agrani Bank Ltd, Janata Bank Ltd, Sonali Bank Ltd, Mercantile Bank Ltd, National Life Insurance Company Ltd and Shimanto Bank Ltd are the subscribers of the bond.