Pubali Bank PLC’s board has approved the acquisition of an under-construction 26-storey building in Dhaka’s Tejgaon area for establishing its corporate head office at a cost of Tk800 crore.
The bank disclosed the decision through the stock exchanges on Thursday, saying the board approved the purchase of a 95.10 decimal, or 57.64 katha, land parcel along with the under-construction building named Swiss Tower at 208 Bir Uttam Mir Shawkat Sarak (Tejgaon Link Road), Dhaka.
The property includes three basement floors and the total acquisition cost includes income taxes but excludes value-added tax (VAT), according to the disclosure.
The transaction remains subject to approval from Bangladesh Bank and other relevant regulatory authorities.
Pubali Bank said the property will be used to establish its corporate head office, allowing the lender to consolidate its central operations at a dedicated facility in one of Dhaka’s key commercial corridors.
The move comes as banks in Bangladesh have increasingly invested in their own office infrastructure to support expanding operations and strengthen institutional presence.
Investors reacted cautiously to the announcement, with Pubali Bank shares declining on Thursday.
The bank’s shares, with a face value of Tk10 each, closed 2.11 per cent lower at Tk37.30 on the Dhaka Stock Exchange.
