Founded by a group of renowned entrepreneurs Mutual Trust Bank was incorporated on September 29, 1999 under the Companies Act, 1994 as a Public Company Limited by shares to carry out banking business. Mutual Trust Bank Limited was granted license to operate banking business under the Bank Company Act, 1991, as a private sector bank on October 5, 1999 by Bangladesh Bank. The Bank commenced its banking operation on October 24, 1999.