Mutual Trust Bank (MTB) has announced its plan to acquire 15 floors of a newly constructed 21-storey commercial building in Gulshan-1 to establish its corporate head office.

The bank's board approved the purchase at a meeting on February 2, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

Shares of the bank closed 1.60 percent higher at Tk 12.7 on the DSE yesterday.

The floors, spanning from the ground to the 14th, will be bought for Tk 450 crore, excluding VAT and registration costs. The acquisition is subject to regulatory approval.

The private bank posted Tk 90.11 crore in profits for the July-September period of 2024, registering a 9 percent increase in earnings year on year.

With the earnings in the July-September period, MTB's total profit rose 7 percent year on year to Tk 203.74 crore in the three quarters since January 2024.

MTB said its Earnings Per Share (EPS) increased to Tk 2.07 in January-September 2024 from Tk 1.94 in the same period the previous year.

The bank also reported an increase in EPS to Tk 0.96 in the July-September 2024 period, up from Tk 0.93 a year ago.

The private bank said its cash flow soared during the period.

MTB's net operating cash flow per share doubled to Tk 44.27 in the nine months to the end of September 2024, compared to Tk 22.42 for January-September 2023.