Top officials of the participating banks and financial institutions seen at the deal signing ceremony in the city recently. City Bank has recently entered into agreements with few banks and financial institutions for issuing Coupon-Bearing Subordinated Bond worth Tk 3.0 billion.
IDLC Finance Limited arranged the issue, said a statement.
The issue will enhance Tier II capital of City Bank following 'Guideline of Risk Based Capital Adequacy' of Bangladesh Bank and therefore ultimately increase issuer's Capital Adequacy Ratio (CAR).
Mercantile Bank, BRAC Bank, Meghna Bank, IDLC Finance, NRB Bank, NRB Commercial Bank, Pubali Bank, SABINCO, Dhaka Bank and United Leasing Company are the subscribers of the bond.
Faruk M Ahmed, acting managing director of City Bank, Selim RF Hussain, CEO & managing director of IDLC Finance and senior executives of subscriber banks and financial institutions signed the agreements on behalf of their respective organisations.
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