Mutual Trust Bank Limited

  • Active: Active
  • Region: Asia & Pacific
  • Country: Bangladesh
  • Sector: Banking
  • Year: 2018
  • Domicile: Bangladesh
  • Instrument: Equity and loan
  • Commitment (MNOK) as of 30.06.2019: 351.6
  • Original Commitment (MNOK): 344.7

MTB was founded in 1999 as a “third generation” private commercial bank in Bangladesh. It is listed on the Dhaka Stock Exchange (USD 185 million market capitalization).

MTB is a robustly growing Private Commercial Bank. It has a large network of 120 branches in Bangladesh and over 2000 staff. The board has a strong representation with a 35% stake.

The sponsors are from diversified business groups with exposure to trading, manufacturing and services covering various sectors in Bangladesh. 

In May 2018, Norfund provided a first loan facility in the amount of USD 20 million for MTB.

Upon receiving consent from the regulatory authorities, Mutual Trust Bank has decided it will sell a 10 percent stake for about Tk 1.73 billion to Norfund. This will be Norfund's first equity investment in a bank in Bangladesh. 

After completion of the sale, Norfund will nominate one member to the board of directors of MTB.

Norfund's investment will promote access to long-term loans for small and medium sized companies, Green Projects (including renewable energy) and export-oriented industries. It will furthermore support MTB's asporation for international best practise with regard to corporate governance. 

 

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo

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