Four banks to raise Tk 2,100cr

Four private banks yesterday got the approval to raise Tk 2,100 crore by issuing subordinated bonds in a bid to strengthen their capital base. Islami Bank will raise the highest Tk 700 crore, followed by Social Islami (Tk 500 crore), Dutch-Bangla (Tk 500 crore) and ONE (Tk 400 crore). The tenure of these bonds is seven years.