Mutual Trust Bank (MTB) PLC has decided to purchase one bigha of land in Dhaka’s upscale Gulshan area for Tk 3 billion to construct its new corporate head office, according to a disclosure on the Dhaka Stock Exchange (DSE) news board.

The bank’s board approved the plan on Wednesday, confirming that the land, located on Gulshan Avenue, will be acquired subject to regulatory approval. The stated price excludes value-added tax and registration-related expenses.

The private commercial bank also stated that its board has cancelled an earlier decision to purchase 15 floors of a newly constructed 21-storey commercial building for office use. That plan, announced in February this year, was estimated to cost Tk 4.5 billion.

The decision to purchase land instead of ready office space signals the bank’s shift toward developing a purpose-built headquarters, a move seen by analysts as both a long-term investment and a strategy to enhance brand visibility in Dhaka’s prime business district.

MTB reported an unchanged profit of Tk 2.03 billion for the January–September period of 2025, reflecting a steady financial performance despite the challenging economic environment faced by the banking sector.

Shares of MTB closed at Tk 12.20 on Thursday, up 0.83 percent from the previous day’s trading session, following the announcement.