Dutch-Bangla Bank PLC has decided to purchase land to support the operation and future expansion of its DEPZ Data Center project, according to the Dhaka Stock Exchange (DSE).
The bank’s board approved the decision at its 311th meeting held on August 25. Under the decision, the bank will purchase 16.60 decimals of land in Baipayil Mouza under Savar police station in Dhaka.
The land has been valued at Tk 3.486 crore, excluding government registration fees and other related expenses.
The bank said the acquisition is aimed at ensuring the smooth operation of its ongoing DEPZ Data Center project and facilitating its future expansion.
The purchase will, however, require approval from Bangladesh Bank.
Dutch-Bangla Bank was listed on the stock market in 2001. Its paid-up capital stands at Tk 1,015.04 crore, while general investors hold 16.44 percent of its shares.
The bank’s share price closed at Tk 45.60 on Wednesday, August 26.
