Mutual Trust Bank to buy Tk300cr land in Gulshan for new head office
Earlier in February this year, the board had approved a Tk450 crore investment to purchase those floors, excluding VAT and registration expenses
Mutual Trust Bank PLC (MTB) is set to purchase a one-bigha plot in the capital's Gulshan area at a cost of Tk300 crore to establish its new corporate head office.
In a disclosure today (30 October), the private sector lender said the proposed investment excludes value-added tax and registration costs and remains subject to regulatory approval.
The bank's board approved the new land acquisition plan on Wednesday, replacing its earlier decision to buy 15 floors – from the ground to the 14th – of a 21-storey commercial building named The Cube at Gulshan-1.
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Earlier in February this year, the board had approved a Tk450 crore investment to purchase those floors, excluding VAT and registration expenses.
According to unaudited financial statements, Mutual Trust Bank posted a net profit of Tk203.84 crore in the January-September period of 2025, almost unchanged from Tk203.74 crore a year earlier. Earnings per share (EPS) also remained stable at Tk1.88.
But in the third quarter, during the July to September period,the bank's profit slightly declined to Tk87.73 crore, with an EPS of Tk0.70, compared to Tk90.12 crore in the same quarter last year.
In 2024, the bank reported a profit of Tk316.65 crore and EPS of Tk3.22. It had paid a 10% stock dividend for its shareholders.
Yesterday, the bank's shares rose 0.83% to close at Tk12.20 each on the Dhaka Stock Exchange.
