MetLife Bangladesh has increased the diversification of its investment portfolio by investing Tk116 crore in Delta Brac Housing Finance Corporation Ltd’s Zero-Coupon Bond (DBH). Through this program, it intends to continue providing long-term finance to local businesses as well as higher returns on consumers’ insurance policies.
According to a press release issued on Saturday, the principal arranger of this bond sale is UCB Investment Limited, which is a wholly-owned subsidiary of United Commercial Bank. MetLife’s significant investment portfolio in Bangladesh comprises around Tk13,000 crore in Bangladesh Government Bonds and Tk210 crore in Bangladesh’s first private sector guaranteed bond.
MetLife Bangladesh Deputy Managing Director and Chief Financial Officer Ala Uddin, DBH Managing Director and Chief Executive Officer Nasimul Baten, UCB Investment Ltd Managing Director and CEO Tanzim Alamgir, and other key officials attended a signing ceremony recently. DBH has raised Tk300 crore in face value through this bond offering to cover ongoing funding requirements for expanding housing financing to more individuals in the country.
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