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 31.12.2018: 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.