AB Bank approves 2pc stock dividend

AB Bank PLC approved 2pc stock dividend for the year 2023 at its 42nd Annual General Meeting (AGM) held at Sena Malancha, Dhaka on Wednesday, says a press release. Barrister Khairul Alam Choudhury, Chairman of the Board of Directors of the bank, presided over the meeting. The Board of Directors attended the meeting along with Managing Director Tarique Afzal and a good number of shareholders.
In the AGM, Barrister Khairul Alam Choudhury was re-elected as Director. Md Fazlur Rahman was elected as Director and Ramendra Nath Basak, FCA was elected as Independent Director of the Bank. In addition, Maqsudul Huq Khan resigned from the Board of Directors.
The meeting adopted the Directors Report and the Audited Financial Statements for the year 2023. The shareholders appointed M.M Rahman and Co., Chartered Accountants, as Statutory Auditor and S. F. Ahmed and Co., Charted Accountants, as Corporate Governance Compliance Auditor of the Bank for the year 2024.
During the year 2023, Operating Profit and Profit after Tax of the Bank stood at BDT 501 crore and BDT 72 crore respectively. The Net Asset Value Per Share (NAVPS) stood at BDT 27.87.
The Bank completed its 42nd successful year of journey. On this auspicious occasion, the Bank expressed its deep gratitude to Shareholders, Customers, Regulators, and all the well-wishers.