Mutual Trust Bank (MTB) has decided to purchase 15 floors of a 21-story commercial building in Gulshan to establish its new headquarters. The bank’s board of directors approved the purchase, with an estimated cost of Tk 450 crore for the 15 floors, excluding registration fees and VAT.
MTB, a publicly listed company, disclosed this significant decision on Monday through the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), in compliance with market regulations.
The bank confirmed that, in its board meeting held on February 2, it was decided that it would acquire the 15 floors of the building located at 138, Gulshan-1, on a commercial street in Dhaka. According to the bank’s statement, the estimated cost for acquiring the 15 floors, from the ground floor to the 14th, is approximately Tk 450 crore. The cost per floor is set at around Tk 30 crore.
However, the finalization of this purchase is contingent upon the approval of Bangladesh Bank and other relevant regulatory bodies.
In the meantime, MTB’s shares saw a slight increase in value on the Dhaka Stock Exchange, rising by 20 paisa to reach Tk 12.70 during the first two hours of trading on Monday.
This announcement comes shortly after MTB marked its 25th anniversary, and in conjunction with the occasion, the bank unveiled a new logo on February 1. Following the logo change, the bank has now opted to purchase its own floors for its headquarters, reinforcing its commitment to long-term growth and stability.
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