AB Bank holds 40th AGM; approves 2pc cash, 3pc stock dividend

| Updated: July 20, 2022 12:21:35

AB Bank holds 40th AGM; approves 2pc cash, 3pc stock dividend

AB Bank Limited held its 40th Annual General Meeting (AGM) through a virtual platform on Wednesday. 

In the AGM, shareholders approved 2.0 per cent cash dividend and 3.0 per cent stock dividend for the year ended 2021.  

Chairman of the board Muhammad A (Rumee) Ali presided over the meeting, says a media release. 

In 2021, profit after tax of the bank stood at Tk 720 million which is 82 per cent higher than the previous year. 

At the end of 2021, the total assets of the bank stood Tk 413.36 billion where Net Asset Value (NAV) was Tk 25.56 billion. 

Muhammad A (Rumee) Ali and Shajir Ahmed have completed their tenor as directors.

Shajir Ahmed has been re-elected as director as Mr Ali expressed his desire not to seek re-election. 

The AGM also adopted the Directors’ Report and Audited Financial Statements.  

The shareholders also re-appointed ACNABIN, Chartered Accountants, as Statutory Auditor and M/s. S. F. Ahmed & Co., Chartered Accountants, as Corporate Governance Compliance Auditor of the bank for 2022.  

Tarique Afzal, president, and managing director, directors of the board, and a number of shareholders joined the meeting. 

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