City Bank PLC, listed on the Dhaka Stock Exchange (DSE), has decided to increase its authorized capital by Tk 1,000 crore to reach Tk 3,000 crore. Additionally, the lender’s board of directors has approved a proposal to expand the maximum number of directors on its board from 8 to 10.
The bank disclosed the decisions through the DSE on Sunday (August 16), following approval at a board of directors meeting held on August 13.
Under the proposal, City Bank’s authorized capital will rise from Tk 2,000 crore to Tk 3,000 crore, divided into 300 crore ordinary shares with a face value of Tk 10 each. The bank also proposed corresponding amendments to relevant provisions of its Memorandum of Association and Articles of Association.
EGM and Regulatory Approvals
To seek shareholder approval for these strategic moves, City Bank will host an Extraordinary General Meeting (EGM) on October 4, 2026, via a digital platform at 3:00 PM. The record date for determining eligible shareholders to participate in the EGM has been set for September 6, 2026.
The implementation of these decisions remains subject to necessary approvals and no-objection certificates (NOC) from regulatory authorities, including Bangladesh Bank.
Strong H1 2026 Financial Results
The decisions come alongside a robust financial performance by the bank in the first half of 2026 (January–June):
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Half-Yearly Earnings: Consolidated Earnings Per Share (EPS) surged by 75% to Tk 3.01 for H1 2026, up from Tk 1.72 in the corresponding period of the previous year.
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Net Profit Growth: Consolidated net profit after tax rose by Tk 227 crore (or 75%) to reach Tk 527 crore during the six-month period, compared to Tk 301 crore in the same period last year.
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Q2 Performance: For the second quarter (April–June) of 2026, consolidated EPS stood at Tk 1.63, reflecting a 37% growth (up 44 poisha) from Tk 1.19 recorded in Q2 of the previous year.
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Net Asset Value: As of June 30, 2026, City Bank’s consolidated Net Asset Value Per Share (NAVPS) reached Tk 37.60.
