ONE Bank Gets Green Light for Tk 400 Crore Bond to Strengthen Its Capital
ONE Bank PLC is set to raise Tk 400 crore through a subordinated bond, after getting approval from the Bangladesh Securities and Exchange Commission.
The bond will run for seven years. It is unsecured, non-convertible, fully redeemable and comes with a floating rate. According to a press release, the bank has received all the regulatory approvals it needed for the issuance.
The money raised will go towards strengthening the bank’s capital base. The bank also says it will support its continued business growth and strategic priorities.
Muhit Rahman, managing director of ONE Bank, called it an important milestone. He said, “Strengthening our capital base will enhance our capacity to support our customers, grow our business and respond to emerging opportunities.”
He added that the bank wants to become more customer centric and offer innovative financial solutions that contribute to the growth of Bangladesh’s economy.
The press release also spoke about the bank’s wider direction. ONE Bank says it is working to become more agile, resilient and ready for the future. It plans to put more focus on digital transformation, financial inclusion and responsible banking, while improving how customers access financial services and widening its support for businesses and communities across the country.
The bank described the bond as a key step in its ongoing transformation, and said it reinforces its commitment to sustainable growth and long term value for customers and stakeholders.
For now, the approval clears the way. How the bank uses the fresh capital in the coming years will show how much of this plan turns into action.