United Commercial Bank Limited announced formation of a subsidiary company to provide mobile financial services. The company will hold at least 51% shares of the subsidiary company and rest 49% shares may be offered to national/international reputed MFS/DFS providers as per MFS guidelines of Bangladesh Bank. Initial Authorized and Paid-up Capital of this subsidiary company will be BDT 5,000 million and BDT 500 million respectively which shall be increased from time to time as per investment requirement of the regulatory authority.