AB Bank moves into Category A

The 38th Annual General Meeting (AGM) of AB Bank Limited was held on Wednesday on a digital platform, says a statement. The meeting unanimously approved 5% Stock Dividend for the year 2019.
The listing category of the Bank has been placed in category "A" with effect from September 02, 2020 as per directives of Bangladesh Securities and Exchange Commission.
AB Bank Limited completed 38th year of successful operation on April 12, 2020. Net Asset Value (NAV) of the Bank stood at Tk 22.84 billion (2,284 crore) and total assets stood at Tk 365.57 billion (36,557 crore) in 2019 which registered 13.33% growth over last year.
The AGM also adopted Directors' Report, Audited Financial Statements and appointed Moshtaque Ahmed Chowdhury and Shajir Ahmed as Directors. Shareholders also appointed ACNABIN, Chartered Accountants, as Statutory Auditor of the Bank for the year 2020.
Chairman of the Board Muhammad A. (Rumee) Ali, presided over the meeting. Tarique Afzal, President & Managing Director, other directors of the board and a good number of shareholders attended the AGM.