City Bank will invest in digital bank

The board of directors of City Bank Limited of the listed bank sector has decided to invest in setting up a digital bank.

This information is known from DSE sources.

It is known that the organization will invest in digital bank if the financial sector regulator Bangladesh Bank gives permission. A consortium consisting of some commercial banks and a telecom company is going to be formed for the purpose of establishing a digital bank. When a proposal was sent to City Bank to join the consortium, the board of directors of the bank approved it.

City Bank Limited will contribute 11.12 percent of the paid up capital of the proposed digital bank. The amount of investment of the bank will be Tk 27 crore 78 lakh.

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