Bangladesh's best investment bank 2023: UCB Investment
With one transaction in June 2022, UCB Investment (UCBIL) demonstrated to global investors why it has become an indispensable driver of Bangladesh’s economic development.
A fully owned subsidiary of United Commercial Bank, UCB is one of Bangladesh’s top commercial banking players, having launched in October 2020 as a full-fledged merchant operation. It quickly targeted mandates to accelerate Bangladesh’s diversification into tech-related sectors.
The Fair Electronics Limited preference share that UCBIL helped arrange in June 2022 was emblematic of this effort. The Tk2 billion ($18.6 million) issue of non-convertible, cumulative and redeemable preference shares aimed to increase the market share of one of the top manufacturers for Samsung Electronics in Bangladesh.
Reducing the nation’s reliance on garments and lower-wage manufacturing in general is a government priority. Leading transactions such as the Fair Electronics issuance fits with UCBIL’s aim, as CEO Tanzim Alamgir puts it, of “developing the overall financial structure of the economy through providing top-class, innovative and customized investment solutions for our clients.”
That means guiding finance projects that “build a lasting socio-economic value for the country” and ensure “sustainable growth by driving operational excellence.”