AB Bank approved 12.50%Stock Dividend

The 35th Annual General Meeting of AB Bank was held on Thursday, December 21, 2017 at Le MéridienDhaka. Shareholders of the Bank approved 12.50% Stock Dividend for the year ended 2016. AGM also adopted Directors’ Report,Audited Financial Statements and appointed Mr. Moshtaque Ahmed Chowdhury, Mr. Shajir Ahmed and Mrs. Shireen Scheik Main uddin as Directors. Shareholders also appointed M/s. S.F. Ahmed & Co.,Chartered Accountants, as Statutory Auditor of the Bank for the year 2017.

An Extraordinary General Meeting (EGM) of the Bank was also held on the same day at 10.20 am at the same venue where shareholders approved to readjust proposed Rights Issue of the Bank from 5:4R to 3:2R after giving effect of Stock Dividend 2016 at a price of Tk. 10 each subject to approval of the concerned Regulatory Authorities.

AB Bank Limited completed its 35th year of successful operation on April 12, 2017. Net Asset Value (NAV) stood at Tk. 2,311 crore in 2016. Total Asset of the Bank stood at Tk. 31,484 crore reflecting a growth of 10% over last year.

The AGM was presided over by Mr. Salim Ahmed, Vice Chairman of the Board of Directors. Other Directors and the President & Managing Director Mr. Moshiur Rahman Chowdhury were also present. A good number of shareholders, patrons and well-wishers attended the Annual General Meeting and participated in its deliberation.