Listed City Bank PLC has decided to increase its authorised capital by Tk 1,000 crore, while its board has also approved a proposal to raise the maximum number of directors from eight to 10.

The decisions were taken at a board meeting held on August 13. However, the proposals will require approval from shareholders and the relevant regulatory authorities before implementation.

Under the proposal, the bank’s authorised capital will rise to Tk 3,000 crore from the existing Tk 2,000 crore. The capital will be divided into 300 crore ordinary shares, each with a face value of Tk 10.

The bank also plans to amend relevant provisions of its Memorandum of Association and Articles of Association to accommodate the proposed changes.

City Bank will seek shareholder approval at an Extraordinary General Meeting (EGM) scheduled for October 4 at 3:00pm through a digital platform. The record date for participation in the EGM has been set for September 6, 2026.

The proposals will take effect after obtaining the necessary approvals and no-objection certificates from Bangladesh Bank and other relevant regulatory authorities.