The recent subscription complements MetLife’s strong investment portfolio in the country which also includes over Tk 130 billion (13,000 crore) investment in Bangladesh government bonds, and Tk 2.10 billion (210 crore) subscription in Bangladesh’s first private sector guaranteed bond.
A signing ceremony was held recently. Ala Uddin, deputy managing director and chief financial officer of MetLife Bangladesh, Nasimul Baten, managing director and CEO of DBH, Tanzim Alamgir, managing director and chief executive officer of UCB Investment Ltd, and other senior officials wree present at the event.
Through this bond issuance, DBH has completed raising Tk 3 billion (300 crore) in face value to meet ongoing financing requirements for extending housing financing to more people of Bangladesh.
MetLife Bangladesh’s CEO Ala Ahmad said, “MetLife believes in the outstanding potential of Bangladesh and its people. Through our long-term, sustainable investments in the country we are enabling local corporates to thrive and, at the same time, utilizing our international standard portfolio management expertise to meet our promises to our customers.”
“DBH is rapidly facilitating housing financing in Bangladesh in the most prudent manner, and we are glad to see the confidence of investors like MetLife to invest a significant amount in our company.”, said DBH managing director and CEO Nasimul Baten.
“The team UCBIL always endeavour to bring innovative instruments to make our capital market more vibrant. We thank MetLife and DBH for trusting on us and come forward to make a successful transaction,” said UCBIL managing director and CEO, Tanzim Alamgir.
DBH is the largest Housing Finance Institution in the private sector of the country. After commencing operation in 1996 the company has registered commendable growth in creating home ownership in Dhaka and other major cities of the country. Among all Banks and Financial Institutions of Bangladesh only DBH has been rated the highest 'AAA' credit rating for 16th consecutive year.
MetLife is the leading life insurance company in Bangladesh. With its presence in the country since 1952, MetLife has been providing world class financial protection solutions to over 1 million (10 lakh) customers and contributing to the development of financial sector thorough investments and global best practices in insurance solutions, talent development and risk management.