MTB to buy Gulshan land for Tk 300cr to build HQ

Mutual Trust Bank (MTB) PLC has decided to buy one bigha of land in Dhaka's upscale Gulshan area at Tk 300 crore for the construction of its corporate head office.

The plan to buy the land on Gulshan Avenue was approved by the board of the private bank on Wednesday, according to a disclosure by MTB on the Dhaka Stock Exchange (DSE) news board yesterday.

The price of the property excludes value-added tax and registration-related costs

The price of the property excludes value-added tax and registration-related costs, and is subject to the approval of the regulatory authorities, the bank said.

MTB said its board also approved the cancellation of the earlier approval for purchasing 15 floors of a newly constructed 21-storied commercial building.

Earlier in February this year, MTB announced a plan to acquire the floors for the same purpose, which would cost Tk 450 crore for the bank.

 MTB's profit remained unchanged at Tk 203 crore in the January-September period of 2025.

 Shares of the bank closed at Tk 12.20 yesterday, up 0.83 percent from the previous day.