UCB hopes to hold pending AGMs by Sept
Naim-Ul-Karim | Wednesday, 9 July 2008
United Commercial Bank Ltd (UCB) will hold its pending annual general meetings (AGMs) by September next subject to the receipt of the High Court order, the bank's newly appointed top official said on Tuesday.
Dhaka Stock Exchange suspended the share trading of the bank on June 15 due to price fluctuation created by the judgment of the Court on June 11 directing the bank to hold the pending AGMs by September this year.
"We will hold AGMs by September next on receipt of a certified copy of the judgment passed by the honourable court," M Shahjahan Bhuiyan, newly appointed managing director of the UCB, told the FE.
A senior official of the UCB, however, said: "Holding of UCB's pending AGMs depends on the verdict of the Appellate Division of the Supreme Court scheduled to be declared on July 16."
Mr. Bhuiyan, who returned to the UCB after around seven years on Monday giving up the job of the Prime Bank Ltd as managing director, said the board of directors of UCB wants to see further development of the bank and serve best quality services to its customers in days to come.
"I am very happy to see a positive attitude from the management and board of directors of the UCB for future development of the bank," he said.
Mr. Bhuiyan, who led the current growth of Prime Bank Ltd, said: "We will try our best to provide best services to the customers and increase the bank's contribution to the economic development of the country."
Answering to a question, he said the country's entire financial system will face an adverse situation unless both the lenders and the borrowers can prudently calculate risk factors in new investment.
"We would require to calculate the risk factors cautiously to avoid any miss-match situations."
Newly appointed UCB managing director said there is a huge potential for further development of the UCBL as it has expansive network through its 84 branches in the country.
Out of the bank's 84 branches, 28 are located in Dhaka, 28 in Chittagong, nine in Rajshahi, seven in Khulna and one in Barisal.
UCB, which has over 2200 manpower, will soon chalk out a road map for expanding the bank's operation by increasing its customer base that would lead to more profitability, Mr. Bhuiyan said.
As per audited accounts on 31.12.07, the Bank has reported a post-tax profit of Tk 815.12 million as against Tk 581.76 million as on 31.12.06.
Mr. Bhuiyan, who started his banking career with the State Bank of Pakistan in 1970, said the UCBL bank will introduce a number of new products.
Key products and services of the bank include Western Union Money Transfer, SMS Banking Service, Online Service, Credit Card, One Stop Service, Deposit schemes, Inward & Outward Remittances, Travelers Cheques, Import and Export Finance, Working Capital Finance, Loan Syndication, Consumer Credit Scheme Locker Service.
In his outstanding banking career, Mr. Bhuiyan visited at least 12 Asian, African and western countries including USA, Canada, UK, Australia, Germany, Italy, China, Malaysia and Kingdom Saudi Arabia for establishing banking relationship with leading financial organisations of those states.
Dhaka Stock Exchange suspended the share trading of the bank on June 15 due to price fluctuation created by the judgment of the Court on June 11 directing the bank to hold the pending AGMs by September this year.
"We will hold AGMs by September next on receipt of a certified copy of the judgment passed by the honourable court," M Shahjahan Bhuiyan, newly appointed managing director of the UCB, told the FE.
A senior official of the UCB, however, said: "Holding of UCB's pending AGMs depends on the verdict of the Appellate Division of the Supreme Court scheduled to be declared on July 16."
Mr. Bhuiyan, who returned to the UCB after around seven years on Monday giving up the job of the Prime Bank Ltd as managing director, said the board of directors of UCB wants to see further development of the bank and serve best quality services to its customers in days to come.
"I am very happy to see a positive attitude from the management and board of directors of the UCB for future development of the bank," he said.
Mr. Bhuiyan, who led the current growth of Prime Bank Ltd, said: "We will try our best to provide best services to the customers and increase the bank's contribution to the economic development of the country."
Answering to a question, he said the country's entire financial system will face an adverse situation unless both the lenders and the borrowers can prudently calculate risk factors in new investment.
"We would require to calculate the risk factors cautiously to avoid any miss-match situations."
Newly appointed UCB managing director said there is a huge potential for further development of the UCBL as it has expansive network through its 84 branches in the country.
Out of the bank's 84 branches, 28 are located in Dhaka, 28 in Chittagong, nine in Rajshahi, seven in Khulna and one in Barisal.
UCB, which has over 2200 manpower, will soon chalk out a road map for expanding the bank's operation by increasing its customer base that would lead to more profitability, Mr. Bhuiyan said.
As per audited accounts on 31.12.07, the Bank has reported a post-tax profit of Tk 815.12 million as against Tk 581.76 million as on 31.12.06.
Mr. Bhuiyan, who started his banking career with the State Bank of Pakistan in 1970, said the UCBL bank will introduce a number of new products.
Key products and services of the bank include Western Union Money Transfer, SMS Banking Service, Online Service, Credit Card, One Stop Service, Deposit schemes, Inward & Outward Remittances, Travelers Cheques, Import and Export Finance, Working Capital Finance, Loan Syndication, Consumer Credit Scheme Locker Service.
In his outstanding banking career, Mr. Bhuiyan visited at least 12 Asian, African and western countries including USA, Canada, UK, Australia, Germany, Italy, China, Malaysia and Kingdom Saudi Arabia for establishing banking relationship with leading financial organisations of those states.