AB Bank approves 200 pc stock dividend
Thursday, 17 July 2008
AB Bank Limited approved a 200 per cent stock dividend for its shareholders at the Bank's 26th annual general meeting (AGM) held at Bangladesh-China Friendship Conference Centre Wednesday, said a press release.
AB turned 26 this year with a marked overall growth. The Bank registered an operating profit of Tk 3.3253 billion in 2007 which was more than three and a half times compared to last year, the AGM was told.
An all-round growth was also the hallmark for the year 2007. Operating income in the last year was Tk 4.6566 billion thereby exceeding the previous year's income by Tk 2.0064 billion and in the process recording a growth of 75.71 per cent.
Net interest income also registered an increase of 133.84 per cent over the preceding year. Total assets of the Bank at the end of 2007 stood at Tk 63.5499 billion as against Tk 47.9893 billion in 2006, registering a growth of 32.43 per cent, the AGM was also informed.
The growth of earning per share (EPS) was healthy in 2007. The EPS stands at Tk 256.10 compared to Tk 93.08 of the previous year.
The Bank was awarded a sound credit rating for 2007. The Credit Rating Agency of Bangladesh Limited (CRAB) has assigned A2 rating in the long term and ST-2 in the short term.
Performance of the Bank in the international trade was noteworthy in 2007. Both imports and exports in the year experienced double digit growth keeping pace with the overall business growth.
Imports at the end of the year stood at Tk 48.4414 billion while exports reached Tk 20.6766 billion.
The directors of the Bank and President and Managing Director Kaiser A Chowdhury were also present at the meeting.
AB turned 26 this year with a marked overall growth. The Bank registered an operating profit of Tk 3.3253 billion in 2007 which was more than three and a half times compared to last year, the AGM was told.
An all-round growth was also the hallmark for the year 2007. Operating income in the last year was Tk 4.6566 billion thereby exceeding the previous year's income by Tk 2.0064 billion and in the process recording a growth of 75.71 per cent.
Net interest income also registered an increase of 133.84 per cent over the preceding year. Total assets of the Bank at the end of 2007 stood at Tk 63.5499 billion as against Tk 47.9893 billion in 2006, registering a growth of 32.43 per cent, the AGM was also informed.
The growth of earning per share (EPS) was healthy in 2007. The EPS stands at Tk 256.10 compared to Tk 93.08 of the previous year.
The Bank was awarded a sound credit rating for 2007. The Credit Rating Agency of Bangladesh Limited (CRAB) has assigned A2 rating in the long term and ST-2 in the short term.
Performance of the Bank in the international trade was noteworthy in 2007. Both imports and exports in the year experienced double digit growth keeping pace with the overall business growth.
Imports at the end of the year stood at Tk 48.4414 billion while exports reached Tk 20.6766 billion.
The directors of the Bank and President and Managing Director Kaiser A Chowdhury were also present at the meeting.