Islami Bank Bangladesh and Mutual Trust Bank have decided to issue bonds worth of total Tk 21 billion subject to approval of the regulatory authorities.
Mutual Trust Bank decided to issuance of non-convertible perpetual bond of Tk 4.0 billion and issuance of seven years non-convertible subordinated bond of Tk 5.0 billion. The Mutual Trust Bank, which was listed on the Dhaka Stock Exchange in 2003, disbursed 11 per cent stock dividend for the year ended on December 31, 2018.
The bank’s paid-up capital is 6.69 billion, authorised capital is Tk 10 billion and the total number of securities is 669.92 million.
Sponsor-directors own 41.11 percent stake in the bank while institutional investors own 22.14 percent and the general public 36.75 percent as on August 31, 2019.
On the other hand, Islami Bank decided to issue “IBBL Third Mudaraba Redeemable Non-Convertible Subordinated Bond” of Tk 12 billion under Mudaraba Principle of Islamic Shari’ah on June 19.
The Islami Bank has further informed on Sunday that the board of directors has taken decision to raise the Tier-II capital of the bank under Basel-III through issuance of seven years “IBBL Third Mudaraba Redeemable Non-Convertible Subordinated Bond”.