Dutch-Bangla Bank PLC is expanding its digital infrastructure by acquiring additional land for its DEPZ Data Center Project in Savar, Dhaka, as the lender prepares to support the growth of its technology operations.
The bank’s board has approved the purchase of 16.60 decimals of land at Baipail in Savar for Tk3.49 crore, excluding government registration fees and related expenses, according to a disclosure posted on the Dhaka Stock Exchange (DSE) on Thursday.
The land will be used to support the smooth operation and future expansion of the DEPZ Data Center Project, subject to approval from Bangladesh Bank.
The property is located in Mouza Baipail under Savar police station and sub-registry office in Dhaka district, the bank said.
In a separate decision, Dutch-Bangla Bank’s board has proposed raising its authorised capital to Tk3,500 crore from Tk1,500 crore, as the lender seeks to increase its capital ceiling.
The proposed increase of Tk2,000 crore represents a 133 per cent rise in authorised capital. The move requires a no-objection certificate from Bangladesh Bank and approval from shareholders.
The proposal will be placed at the bank’s fifth Extra-ordinary General Meeting, scheduled for 15 October at 11:00am through a digital platform.
The record date for participation in the meeting has been set for 20 September.
If approved, the bank will amend relevant clauses and sections of its Memorandum of Association and Articles of Association through a special resolution.
Dutch-Bangla Bank shares, with a face value of Tk10, closed 1.10 per cent higher at Tk46.10 on the Dhaka Stock Exchange on Thursday.
