AB Bank approves 12.5% Stock Dividend

AB Bank Limited approved 12.5% Stock Dividend for its shareholders at the 33rd Annual General Meeting (AGM) of the Bank held on May 17, 2015 (Sunday) at the Bashundhara Convention Centre-2, Dhaka. The AGM approved the Annual Report and the Audited Financial Statements of the Bank for the year ended 2014.

Earlier an Extra-Ordinary General Meeting (EGM) of the Bank was held on the same day at 9.00 am at the same venue. A Special Resolution was approved in the EGM for issuance of ‘AB Bank Subordinated Bond-II’ of BDT 400.00 crore for raising Tier-II Capital subject to approval of the concerned Regulatory Authorities.

AB Bank Limited completed its 33rd year of successful banking on April 12, 2015. Net Asset Value (NAV) stood at Tk.1,876 crore in 2014 which is 8% higher than 2013. Total Asset of the Bank stood at Tk.25,681 crore at the end of 2014 reflecting a growth of 22% over last year.

The 33rd AGM was presided over by the Chairman of the Bank, Mr. M. Wahidul Haque. Other Directors and the President & Managing Director Mr. Shamim A. Chaudhury were also present. A good number of shareholders, patrons and well-wishers attended the Annual General Meeting.