AB Bank approves 30pc dividend
Friday, 7 September 2007
Arab Bangladesh Bank (AB) approved a 30 per cent dividend for its shareholders at its 25th annual general meeting (AGM) held in the city recently, said a press release.
The bank is celebrating its silver jubilee this year with a marked overall growth.
The bank registered a net profit of Tk. 532.10 million (53.21 crore) in 2006. An all-round growth had also been the hallmark of the year 2006. Overall operating revenue grew by 68 per cent during the same period.
Total capital fund was recorded at Tk. 2.66 billion (266.41 crore), registering an increase of 54 per cent over the preceding year. On the deposit front, the growth was progressively healthy with 54 per cent increase over the privious year.
The performance of the bank in international trade had been noteworthy in 2006. The total volume of import business was Tk. 42.86 billion (4,286.02 crore) and export business registered a growth of nearly 42 per cent while remittance business reached $199 million, a 3.1 per cent growth over 2005.
As part of the silver jubilee celebration it was announced at the AGM that this premier banking organisation of the country would assume a new name, AB Bank Limited, instead of the present Arab Bangladesh Bank Limited and a fresh logo would be unveiled shortly.
The directors of the bank, and the President and Managing Director, Kaiser A Chowdhury, a good number of shareholders, patrons, clients as well as well-wishers were also present at the meeting.
The bank is celebrating its silver jubilee this year with a marked overall growth.
The bank registered a net profit of Tk. 532.10 million (53.21 crore) in 2006. An all-round growth had also been the hallmark of the year 2006. Overall operating revenue grew by 68 per cent during the same period.
Total capital fund was recorded at Tk. 2.66 billion (266.41 crore), registering an increase of 54 per cent over the preceding year. On the deposit front, the growth was progressively healthy with 54 per cent increase over the privious year.
The performance of the bank in international trade had been noteworthy in 2006. The total volume of import business was Tk. 42.86 billion (4,286.02 crore) and export business registered a growth of nearly 42 per cent while remittance business reached $199 million, a 3.1 per cent growth over 2005.
As part of the silver jubilee celebration it was announced at the AGM that this premier banking organisation of the country would assume a new name, AB Bank Limited, instead of the present Arab Bangladesh Bank Limited and a fresh logo would be unveiled shortly.
The directors of the bank, and the President and Managing Director, Kaiser A Chowdhury, a good number of shareholders, patrons, clients as well as well-wishers were also present at the meeting.