AB Bank declares 5% stock dividend for 2019
Published : Tuesday, 30 June, 2020 at 11:53 PM Count : 210
AB Bank Limited- the first private sector commercial bank in Bangladesh has made remarkable progress in 2019. It was a very challenging year for the bank as it started with huge classified loan of 33.07% which came down to 18.28% by the prudent steps from the management of the Bank.
In 2019, operating profit of the bank stood Tk 645 crore which registered 110% growth than the previous year 2018 (Tk 308 crore), according to a press release.
Despite having difficulties in bank’s business, depositors did not lose their trust in AB. In 2019, total deposit of the Bank was Tk 27,946 crore while it was Tk 23,544 crore in in 2018.
AB was able to maintain Loan Deposit (LD) ratio within prescribed limit of Bangladesh Bank guidelines (below 85%). Other liquidity parameters like Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) of the Bank were well ahead of regulatory requirements.
Based on the financials of 2019, the Board of Directors of the Bank,declared 5% stock dividend for 2019 which place the Bank at an acceptable category.
The bank has a proven track record to stand beside underprivileged people through its CSR activities. AB is continuously accelerating its contribution towards economic and social development of the country in line with government fiscal policy.In this changed scenario of COVID-19, Bank is continuously providing its services to the customers.