Agrani Bank’s net profit jumps 197pc

FE Team | Published: May 26, 2018 21:52:00

Agrani Bank Ltd achieved a net profit of Tk 6.76 billion (676 crore) in 2017 with a growth rate of 197 per cent.
At the end of 2017, Return on Equity (ROE) stood at 17 per cent from a negative ROE of 19 per cent of the previous year. ROE increased by 35.65 per cent in 2017.
This was disclosed in the 11th annual general meeting (AGM) of Agrani Bank Limited (AGL) held in the Board Room of the bank in the city on Saturday with its chairman Dr Zaid Bakht in the chair, said a statement.
Total assets of the Bank as on December 2017 stood at Tk 673.92 billion (67392 core) compared to Tk 623.58 billion (62,358 crore) of 2016 registering a growth by Tk 5,035 or 8.07 per cent.
Loans and advances of the bank stood at Tk 319.12 billion (31,912 crore) at the end of 2017, a growth of 20.03 per cent over Tk 265.87 billion (26,587 crore) of 2016.
Arijit Chowdhury, additional secretary, Financial Institution Division of the Ministry of Finance was present as the representative of the government. Managing Director and CEO of the bank and directors were also present.
The audited financial statements of the bank for the year ended on December 31, 2017 and appointment of ACNABIN and MABS & J Partners, chartered accountants' firms as auditors of the bank for 2018 were approved in the meeting.
Managing Directors and CEO Mohammad Shams-Ul Islam dwelt on the performance of 2017 of the bank.
The AGM was also informed that the deposits grew upto Tk 530.35 billion (53,035 crore) in 2017 from Tk 494.05 billion (49,405 crore) of 2016 showing a progress of Tk 363 billion (3,630 crore) or 7.35 per cent rise.