UCB Investment Limited, a sister concern of United Commercial Bank (UCB), began its journey at a hotel in the capital on Sunday.
Prof Shibli Rubayat Ul Islam, chairman of Bangladesh Securities and Exchange Commission (BSEC), inaugurated its operations as chief guest, said a press release.
Anisuzzaman Chowdhury Ronny, chairman of UCB executive committee; Prof Md Jonaid Shafiq, UCB Managing Director Mohammed Shawkat Jamil, and Tanzim Alamgir, CEO, UCB Investment, were also present as special guests.
BSEC Chairman Prof Islam said that it was high time for others to take initiatives like UCB Investment, as the role of merchant bank in developing our capital market and economic development is huge.
Anisuzzaman Chowdhury Ronny, chairman of UCB's executive committee, said that UCB Capital Management, a branch of UCB's stock brokerage, has risen from 63rd position to second position in the last five years.
UCB is one of the pioneers in raising funds for special projects of Bangladesh Bank and until now UCB has invested the largest amount of money from that special fund among all private commercial banks, he added.
UCB MD Mohammed Shawkat Jamil said that the bank was working for the development of capital market in Bangladesh.
So far, UCB has a total transaction / portfolio of more than Tk 1,100 crore in the capital market.
Although UCB Investment recently got its merchant banking license, the company was investing its own funds in the listed equities since 2015, he added.
