AB Bank Limited holds 41st Annual General Meeting

41st Annual General Meeting (AGM) of AB Bank Limited was held on July 08, 2023 through Digital Platform. The Chairman of the Board Barrister Khairul Alam Choudhury, presided over the meeting. The Board of Directors, President & Managing Director of the Bank Mr. Tarique Afzal and a good number of Shareholders participated in the meeting.

In the backdrop of local and global economic perspective, the President & Managing Director of the Bank presented the performance of the Bank in 2022. He also assured the shareholders about the continuous development of the Bank’s financials. The Chairman of the Board of Directors in his speech emphasized on sound corporate governance, especially to be vigilant in respect of money laundering and non-performing loans in view of recent amendment of banking laws. The Chairman also expressed the commitment of the Bank to adhere to undertakings given to Bangladesh Bank, BSEC, Shareholders and depositors for growth of the Bank. Referring the Bank Company Act 1991 (amendment up to 2023), he also clarified Bank’s position against the willful defaulters.

Mr. Feroz Ahmed was re-elected as Director in the AGM. The shareholders also approved the appointment of Mr. Md. Eskandar Miah as Independent Director of the Bank. Besides, the meeting adopted Director’s Report and the Audited Financial Statements-2022. The shareholders appointed M.M Rahman & Co., Chartered Accountants, as Statutory Auditor and S. F. Ahmed & Co., Chartered Accountants, as Corporate Governance Compliance Auditor of the Bank for the year 2023. The Meeting also approved 2% Stock Dividend for the year ended 2022.

In the end of 2022, Operating Profit of the Bank stood at BDT 548 crore, Profit after Tax stood at BDT 68 crore, Earnings per Share (EPS) was BDT 0.79 and Net Asset Value per Share (NAVPS) was BDT 28.37.

It is notable that this year the Bank completed 41st year of successful journey. On this auspicious occasion, the Bank expressed its deep gratitude to the Shareholders, Customers, Regulators and all the Well-wishers.