UCB HOLDS 501ST BOARD MEETING

United Commercial Bank PLC (UCB) held its 501st Board meeting at its corporate head office recently, with its Chairman Sharif Zahir in the chair. Md Shazzad Hossoin, vice-chairman of UCB; Md Yusuf Ali, chairman of the risk management committee; Obaidur Rahman, chairman of the audit committee; and Mohammad Mamdudur Rashid, managing director and CEO of UCB; were present. In the meeting, the Board approved the financial statements for Q3 of this year. The bank reported a 32 per cent increase in net profit for the first nine months of 2024. Its net profit after tax reached Tk 2.62 billion, up from Tk 1.99 billion in the same period last year, driven by higher interest income, investment gains, and increased commission and fee income.