SBAC Bank stands a strong foundation with steady growth

South Bangla Agriculture and Commerce (SBAC) Bank stands on strong foundations as all its financial indicators continue to show positive trends. In the last decade, the bank has continued to grow sustainably in the indicators of deposits, loans and advances, import-export trade, remittance flow, capital adequacy, total assets etc.

The profit of the bank is also in line with the relating economy of the country. The bank's capital adequacy ratio is also adequate in consistence with glorious success.

SBAC Bank’s classified loan also is very poor despite the upward trend in banking industry. This positive treads emerged in the financial review of the bank on its 10th anniversary.

SBAC Bank started its journey on April 3, 2013. At the end of 2022, the total assets of the Bank stood at Tk. 106.63 billion, which is 8.61 per cent more than the previous year.

During this time, the total amount of deposits is about Tk 90 billion and the amount of loans and investments is Tk 82 billion. The loan and deposit interest ration gap is also at a desirable level. At the end of 2022, the paid up capital of the bank stood at Tk 8.16 billion. Capital Adequacy Ratio (CRAR) stands at 14.04 per cent as there is surplus capital in Basel-III requirements. Which proves a strong financial base in SBAC Bank.

In this context, the Managing Director of SBAC Bank, Habibur Rahman, said that we have conducted the banking activities with utmost importance to the customer's needs. As we have a good liquidity position, we have not had to incur any repayments. As a result, sustainable growth has been achieved. Besides, we try our best to stay compliance within the regulatory issues by Bangladesh Bank. For this, we did not have to face any problem including capital or provision shortage. He further said that we have given maximum priority to agriculture, agro-based industries and micro, small and medium enterprises (CSME). Apart from disbursing large industrial and term loans, the bank is also expanding into non-funded commission-based foreign trade. By accepting remittances sent by expatriates and conducting other banking activities with care, the bank is making a special contribution to the prosperous economy of the country.

According to statistics, remittance collection of SBAC Bank increased by 346 per cent last year. During this period, exports increased by 107 per cent and imports increased by 36 per cent. This Bank with more than four lac account holders has 70,000 debit cards and 10,000 credit cards. The bank has 88 branches, 25 sub-branches and 20 agent outlets across the country. Apart from conventional banking, Shariah-based banking is conducted in 10 branches called as SBAC Islamic Banking.