Listed lender Pubali Bank PLC has decided to acquire the under-construction Swiss Tower, owned by Bengal Group, for Tk 8 billion (Tk 800 crore) as part of its plan to relocate its corporate headquarters.

According to information disclosed by the bank on the Dhaka Stock Exchange (DSE) on Thursday, the decision was approved at a board meeting held on Wednesday. The transaction, however, is subject to approval from Bangladesh Bank.

The 27-storey building, which includes three basement levels, is being constructed on nearly 58 kathas of land along the main road at the Gulshan-1 entrance via Tejgaon Link Road, adjacent to Hatirjheel.

Once the acquisition is completed, Pubali Bank will shift its headquarters from its existing premises in Motijheel to the new building.

The tower was originally planned to operate as the international chain hotel Swissôtel. However, Bengal Group has decided to sell the property to ease financial pressure and repay bank loans.

Bengal Group Vice Chairman Md. Jasim Uddin told local media that the company has been facing financial difficulties after three of its factories were destroyed following the recent political transition. He said discussions with Pubali Bank had taken place, although the deal has not yet been finalized.

Officials at Pubali Bank said the bank has long been searching for a larger headquarters, as its current office space of around 55,000 square feet in Motijheel is no longer sufficient to accommodate its growing operations.

Chief Financial Officer Mohammad Liton Mia said the decision to purchase Swiss Tower was made after considering the bank’s long-term operational needs and expressed optimism that the investment would be beneficial in the future.

Pubali Bank is one of Bangladesh’s most profitable private commercial banks. In 2025, its net profit after tax surpassed Tk 10.9 billion (Tk 1,090 crore) for the first time, while its total deposits exceeded Tk 1 trillion (Tk 1 lakh crore) earlier this month.