Brac Bank, City Bank to increase authorised capital

Brac Bank Ltd and The City Bank Ltd have decided to increase the authorised capital.

The authorised capital is the maximum amount of share capital that a company is allowed to issue to its shareholders as per its constitutional documents.

In a filing on the Dhaka Stock Exchange yesterday, Brac Bank said the authorised capital would be increased from Tk 2,000 crore to Tk 5,000 crore.

In a separate filing, City Bank said its board has decided to increase the authorised capital from Tk 1,500 crore to Tk 2,000 crore.

The authorised capital has been recommended to increase for accommodating additional paid-up capital that may be issued in coming years, it said.