Agrani Bank's total assets rise to Tk. 1.28 trillion

In 2024, Agrani Bank's total assets rose to Tk.1.28 trillion ( 1,28,106 crore) from Tk. 1.23 trillion (1,23,096 crore) in 2023, reflecting a 4.07% growth. Interest-earning assets increased by 3.22% to Tk. 830 billion (83,066 crore). The bank's total investment stood at Tk. 277.6 billion (27,760 crore), with Tk. 215.99 billion (21,599 crore) in government securities. This marks a 9.10% increase over 2023.

The figures were disclosed in the Agrani Bank PLC.’s 18th Annual General Meeting (AGM) held on 31 July at the bank's Head Office, says a press release.

The meeting was presided over by the Chairman of the Board of Directors, Syed Abu Naser Bukhtear Ahmed. The return on investment improved to 8.71% from 7.90% the previous year. Loans and advances grew by 4.41%, reaching Tk. 790 billion (79,037 crore). Deposits stood at Tk. 992.32 billion (99,232 crore), up Tk. 3.23 billion (323 crore) from the previous year, with 54% being low or no-interest deposits.

The Advance-deposit (AD) ratio was 79.65%. The bank posted an operating profit of Tk. 15.11 billion (1,511 crore) in 2024. Its net interest spread stood at 5.38%, and operational costs remained within the limits agreed upon with Bangladesh Bank. Provisioning reached Tk. 90.83 billion (9,083 crore), up 30% from the previous year.

Once again, Agrani Bank ranked first among state-owned banks in inward foreign remittance collection. In 2024, the bank facilitated Tk. 210.33 billion ( 21,033 crore) in remittances, a 76.24% increase from 2023. For this achievement, it received the "Remittance Award 2024" from the Ministry of Expatriates' Welfare and Overseas Employment. The bank also played a major role in trade finance. Import transactions totaled Tk. 50,588 crore, reflecting a 21.18% growth over 2023. On the other hand, Export transactions reached Tk. 14,114 crore. Classified loans stood at Tk. 32,002 crore in 2024. The bank made significant strides in loan recovery, retrieving Tk. 1,726 crore, including Tk. 441 crore in cash.

Nazma Mobarek, Secretary of the Financial Institutions Division under the Ministry of Finance, attended the event as Chief Guest and Government Representative.

Board Directors Dr. Md. Fazlul Hoque, Kabirul Ezdani Khan, Mohammad Sultan Mahmud, Muzaffar Ahmed, Md. Sayed Kutub, and Md. Rizwanul Huda were also present. Managing Director and CEO Md. Anwarul Islam, Bangladesh Bank observer Md. Amzad Hossain Khan, Deputy Managing Directors, General Managers, and representatives from the audit firm also joined the meeting.The audited financial statements for the year 2024 were unanimously approved during the session.

In her remarks, Nazma Mobarek discussed the bank's business targets and expressed her optimism that Agrani Bank would demonstrate even stronger performance in all financial indicators and continue to lead as a top state-owned commercial bank.

Chairman Syed Abu Naser Bukhtear Ahmed reviewed the 2024 financials and expressed satisfaction with the bank's achievements across all key business metrics.

Managing Director and CEO Md. Anwarul Islam presented an overview of the bank's performance in areas such as loan recovery, deposits, lending, operating profit, import-export activities, remittance inflow, and service expansion.