Dhaka June 11 2022 :
To continue providing sustainable financing to local corporates and better returns on customers’ insurance policies, MetLife Bangladesh has further diversified its investment portfolio through its subscription of BDT 116 Crore in the Zero-Coupon Bond issued by Delta Brac Housing Finance Corporation Ltd. (DBH).
MetLife is the largest institutional investor of this bond. UCB Investment Limited, which is 100% owned Subsidiary of United Commercial Bank, is the lead arranger of this bond issuance.
The recent subscription complements MetLife’s strong investment portfolio in the country which also includes over BDT 13,000 Crore investment in Bangladesh Government Bonds, and BDT 210 Crore subscription in Bangladesh’s first private sector guaranteed bond.
A signing ceremony was held recently with presence by Ala Uddin, Deputy Managing Director & 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.
Through this bond issuance, DBH has completed raising BDT 300 crore in face value to meet ongoing financing requirements for extending housing financing to more people of Bangladesh.
Commenting on the bond subscription, 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’s Managing Director and CEO, Nasimul Baten.
“The team UCBIL always endeavor 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’s 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 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.
For more information, visit Met Life
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