Dutch-Bangla Bank to buy a Tk 1,016 crore building for HQ

Dutch-Bangla Bank, a listed lender in the country, has decided to buy a building for its head office in Dhaka's Motijheel at a cost of Tk 1,016 crore.

The bank's board made the decision in a meeting held on August 26, according to a disclosure on the website of the Dhaka Stock Exchange (DSE) today.

The bank has decided to purchase a 21.5-storied commercial building at 47 Motijheel commercial area, with a total space of around 207,340 square feet.

Of that, 176,300 square feet is floor space and 31,040 square feet is basement.

The bank will execute the plan after obtaining the necessary approval from Bangladesh Bank.

However, stocks of Dutch-Bangla Bank dropped 1 percent to Tk 41.50 from the previous day at the DSE today.

The bank's reserve and surplus stand at around Tk 4,200 crore, and its paid-up capital is Tk 966 crore, according to DSE data.