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The name of state-owned Rupali Bank Limited has been changed to Rupali Bank PLC.
Rupali Bank Limited was approved as Rupali Bank PLC as per BRPD Circular Letter No 77 on Thursday. From now on, the bank will conduct its banking activities as Rupali Bank PLC, according to a press release.
Earlier on February 22, Bangladesh Bank issued a circular to add PLC (Public Limited Company) at the end of bank companies' names.
The circular states, “According to the Bank Companies Act, the Central Bank's no-objection is required for changing the name and memorandum of association of a bank company.”
But no separate application is needed for banking companies to add PLC, it added.
It should be noted that a decision was taken to change the name of the bank from Rupali Bank Limited to Rupali Bank PLC in a virtual special general meeting of the bank on July 26.
The state-owned bank was listed in the capital market in 1986.