City Bank Equity

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The project comprises an investment to take up to a 5% (post money) stake in common shares of The City Bank Ltd (“City Bank” or the “Bank”) through a preferential allotment for a total investment amount up to BDT 1.32 billion (approximately US$17 million equivalent at current exchange rate). In addition to the common shares, the project will also include a 3-year senior loan for an amount of US$20 million, convertible to the Bank’s common share at the expiry at IFC’s option. The financing provided is a fit with the World Bank and IFC’s Financial Institutions Group (“FIG”) strategy to strengthen financial institutions (“FIs”) with equity capital, liquidity support and advisory services.The Bank commenced operations from 27th March 1983 and has total assets of US$2.6 billion as of September 30, 2015.