Economic Reporter :
The Extraordinary General Meeting (EGM) of City Bank was held on Sunday at Bhawal Resort, Gazipur.
Directors Deen Mohammad, Rajibul Huq Chowdhury, Hossain Mehmood, Managing Director & CEO Sohail R. K. Hussain and other senior executives of the bank attended the meeting among others.
Rubel Aziz, Chairman of the bank presided over the meeting.
In his welcome speech Rubel Aziz said that the proposed equity relationship with IFC will enable City Bank to strengthen the risk management and capacity building of the bank.
“This partnership will further reinforce the investors’ and market’s confidence in City Bank which will generate significant returns for all stakeholders,” he added.
The shareholders unanimously approved to issue 5% of fresh equity shares to IFC and to take USD 20 M convertible loan from IFC as per terms and conditions set out in the Shareholders’ and Subscription agreement.
The Extraordinary General Meeting (EGM) of City Bank was held on Sunday at Bhawal Resort, Gazipur.
Directors Deen Mohammad, Rajibul Huq Chowdhury, Hossain Mehmood, Managing Director & CEO Sohail R. K. Hussain and other senior executives of the bank attended the meeting among others.
Rubel Aziz, Chairman of the bank presided over the meeting.
In his welcome speech Rubel Aziz said that the proposed equity relationship with IFC will enable City Bank to strengthen the risk management and capacity building of the bank.
“This partnership will further reinforce the investors’ and market’s confidence in City Bank which will generate significant returns for all stakeholders,” he added.
The shareholders unanimously approved to issue 5% of fresh equity shares to IFC and to take USD 20 M convertible loan from IFC as per terms and conditions set out in the Shareholders’ and Subscription agreement.
