The City Bank鈥檚 board of directors has approved the issuance of a subordinated debt bond worth Tk 800 crore to meet capital requirements under the Basel-III framework to support the bank鈥檚 continuous business growth.
The decision was disclosed in the news section of the Dhaka Stock Exchange website on Monday.
The bond will help strengthen the bank鈥檚 capital base and support its continuous business growth.
As per the disclosure, the bond issuance is subject to approvals from the Bangladesh Securities and Exchange Commission, Bangladesh Bank and other relevant regulatory authorities.
The specific terms and conditions of the bond, including interest rates and repayment schedules, will be determined following regulatory clearance.
The Bangladesh Bank is enforcing Basel-III regulations in the country鈥檚 banking sector to ensure that banks maintain sufficient capital to avoid financial risks.