Business Desk :
National Bank Limited (NBL) has decided to raise Tk 500 crore through issuance of subordinated bonds to strengthen its capital base and support business growth.
The board of directors of the bank has decided to issue the bond, for raising funds to meet capital requirements under Basel-III, according to a filing with Dhaka Stock exchange (DSE) on Sunday.
The disclosure added that the issuance of bonds is subject to approval from the concerned authorities – Bangladesh Securities and Exchange Commission (BSEC), Bangladesh Bank (BB) – and complying with other regulatory requirements.
Each share of the bank, which was listed on the Dhaka Stock Exchange in 1984, at Tk 7.30- in the first one hours into the trade on Sunday.
Its shares traded between Tk 7.10 and Tk 9.20 in last one year.
The bank’s earnings decreased 50 per cent in its First quarter (Q1) compared to the same quarter of the previous year.
