UCB Investment Ltd starts its journey
UCB Investment Limited, a subsidiary of United Commercial Bank Limited, has come into being after Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof. Shibli Rubayat Ul Islam inaugurated it in the capital late on Sunday.
Held at Westin Dhaka, a five-star hotel, the inaugural ceremony, besides the chief guest BSEC Chairman, was also addressed UCB Executive Committee Chairman Anisuzzaman Chowdhury Ronny, UCB Managing Director Mohammed Shawkat Jamil, UCB Managing Director Mohammed Shawkat Jamil and UCB Director Prof. Dr. Md. Jonaid Shafiq as special guests.
UCB Investment Limited CEO Tanzim Alamgir, other officials from UCB and various eminent dignitaries were also present on the occasion.
Prof. Shibli Rubayat Ul Islam said: "UCB Investment Limited will play a vital role to assist the professional financial management services in the country. Right now Bangladesh has improved their economic position than other south Asian countries.
"During this pandemic time I would like to remember our father of nation, he has showed us how to have courage against the all odds and holding the right vision.
"Right now our Honorable Prime Minister Sheikh Hasina is the bearer of his vision and she showed how good was our economy during the pandemic.
"I think this is high time to take initiative like UCB Investment Limited. The role of merchant bank in developing our capital market and economic development is huge."
Anisuzzaman Chowdhury Ronny said 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 till now UCB has invested the largest amount of money from that special fund among all private commercial banks.
"We are also optimistic about UCB Investment Limited, a subsidiary of United Commercial Bank Limited," Ronny said.
Moreover, Mohammed Shawkat Jamil said: "United Commercial Bank is working for the development of capital market in Bangladesh. So far, UCB has a total transaction / portfolio of 1100+ crore taka in the capital market.
"UCB Asset Management, the newly formed subsidiary of UCB, has the largest capital base among all the asset management companies in Bangladesh. Although UCB Investments has recently got its merchant banking license, the company has been investing its own funds in the listed equities since 2015."