AB Bank

Last updated

AB Bank PLC.
Native name
এবি ব্যাংক
FormerlyArab Bangladesh Bank Limited
Type Public Limited Company
DSE:  ABBANK
Industry Banking
FoundedApril 12, 1982;41 years ago (1982-04-12) in Dhaka, Bangladesh
HeadquartersThe Skymark, 18 Gulshan Avenue, Gulshan 1,
Dhaka 1212
,
Bangladesh
Number of locations
104
Area served
 Bangladesh, Mumbai, India
Key people
  • Barrister Khairul Alam Choudhury (Chairman)
  • Tarique Afzal (President & Managing Director)
ProductsConsumer Banking
Corporate Banking
Retail Banking
SME Banking
Islamic Banking
Credit Cards
ServicesLocal & Foreign Cashless Transactions, Debit & Credit Cards, Retail Banking, Loan & Deposits
Number of employees
2,300+
Subsidiaries Local

AB Securities Limited, AB Investment Limited, Cashlink Bangladesh Limited

Contents

Foreign

AB International Finance Limited
Website abbl.com

AB Bank PLC. (formerly Arab Bangladesh Bank) is a leading [1] public limited bank in Bangladesh. AB Bank Limited was incorporated on 31st December 1981 and its the first commercial private bank in Bangladesh. [2]

History

AB Bank was established on 31 December 1981. [3] [4] This was the first joint venture private bank in Bangladesh. On 14 November 2007 Bangladesh bank approved the name change to AB Bank from Arab Bangladesh Bank. [5]

AB Bank Limited able to show a substantial improvement during the calendar year 2019 because of the efforts of its board of directors and management and placed in the "B" category on the stock market upgraded from "Z" category. [6]

AB Bank in National News

The board of directors of AB Bank Ltd has decided to issue a subordinated bond worth Tk500 crore, with the objective of bolstering its Tier-2 capital, according to company disclosure. [7]

Bangladesh Bank governor Fazle Kabir handed an appreciation letter to AB Bank president and managing director Tarique Afzal for exceeding the disbursement target of working capital in agriculture sector refinance scheme of Taka 5,000 crore under the government’s special stimulus package during the breakout of Novel Coronavirus. [8]

AB Bank received appreciation letter from Bangladesh Bank as they have successfully disbursed 100 percent farm loans during the coronavirus pandemic. [9]

AB Bank President and Managing Director Tarique Afzal received the Award for being one of the highest taxpayers in banking sector for 2021-22 fiscal year at the Large Taxpayers Unit. [10]

AB Bank and the central committee of Bangabandhu Shishu kishor Mela at Tungipara, Gopalganj celebrated Prime Minister Sheikh Hasina's 76th Birth Anniversary. [11]

Tarique Afzal, president and managing director of AB Bank received "2022 US Dollar Clearing Quality Recognition Award" certificate and crest from JP Morgan Bank. [12]

AB Bank Limited disbursed loans to small entrepreneurs at initiative under Skills for Employment Investment Program (SEIP). [13]

AB Bank has won awards in three categories at Mastercard Excellence Awards 2022 in Dhaka recently. The categories are MasterCard Business Growth, Credit Card Business (Domestic) and MasterCard Credit Card Business (International). [14]

AB Bank Limited inaugurated a Rupatoli sub-branch, in Barishal. [15]

AB Bank arranged a daylong workshop on "The responsibilities of SME entrepreneurs and the role of Banks to develop SME business" in Jashore. [16]

AB Bank arranged a daylong workshop on "The responsibilities of SME entrepreneurs and the role of Banks to develop SME business" at Chattogram. [17]

AB Bank Limited held the 753rd meeting of its Board of Directors in Chattogram. Chairman of the bank Khairul Alam Choudhury presided over the meeting. All the Directors along with President & Managing Director and members of Senior Management Team of the bank attended the meeting. [18]

Related Research Articles

<span class="mw-page-title-main">Karnaphuli</span> River in India and Bangladesh

The Karnaphuli, or Khawthlangtuipui, is the largest and most important river in Chattogram and the Chattogram Hill Tracts. It is a 667-metre (2,188 ft) wide river in the south-eastern part of Bangladesh. Originating from the Saithah village of Mamit district in Mizoram, India, it flows 270 kilometres (170 mi) southwest through Chattogram Hill Tracts and Chattogram into the Bay of Bengal. Before the Padma, it was the fastest flowing river in Bangladesh. It is said to "represent the drainage system of the whole south-western part of Mizoram." Principal tributaries include the Kawrpui River or Thega River, Tuichawng River and Phairuang River. A large hydroelectric power plant was built on the Karnaphuli in the Kaptai region in the 1960s. The mouth of the river hosts the Port of Chattogram, the largest and busiest seaport of Bangladesh.

<span class="mw-page-title-main">Bangladesh Army</span> Land warfare branch of the Bangladesh Armed Forces

The Bangladesh Army is the land warfare branch and the largest component of the Bangladesh Armed Forces. The primary mission of the Army is to provide necessary forces and capabilities to deliver the Bangladeshi government's security and defence strategies and defending the nation's territorial integrity against external attack. Control of personnel and operations is administered by the Army Headquarters, Dhaka. The Bangladesh Army is also constitutionally obligated to assist the government and its civilian agencies during times of domestic national emergency. This additional role is commonly referred to as "aid to civil administration".

<span class="mw-page-title-main">Sonali Bank</span> State-owned Bangladeshi commercial banking institution

Sonali Bank PLC is the principal state-owned leading public commercial bank in Bangladesh. It is the largest bank in the country. Ziaul Hasan Siddiqui is the chairman of the Bank. Niranjan Chandra Debnath and Sanchia Binte Ali are the deputy managing directors of the bank.

The Higher Secondary Certificate (HSC) or Higher Secondary School Certificate (HSSC) or Higher Secondary Education Certificate (HSE) is a secondary education qualification in Bangladesh, India and Pakistan. It is equivalent to the final year of high school in the United States and GCSE and/or A level in the United Kingdom.

<span class="mw-page-title-main">National Bank Limited</span> Bank in Bangladesh

The National Bank Limited is a private limited bank in Bangladesh. Md Mehmood Husain is the Managing Director and Chief Executive Officer of the bank.

<span class="mw-page-title-main">Eastern Bank PLC. (Bangladesh)</span> Bank in Bangladesh

Eastern Bank PLC. is a private commercial bank headquartered in Dhaka, Bangladesh. It was established on August 8, 1992, as a public limited company with limited liability under the Bank Companies Act of 1991. Its share are listed in the Dhaka Stock Exchange and the Chittagong Stock Exchange. The bank provides products and services in retail banking, corporate finance, asset management, equity brokerage and security. It has 85 branches and 214 ATMs in Bangladesh and employs around 3000 employees.

BRAC Bank PLC is a private commercial bank in Bangladesh, founded in 2001. The bank is a subsidiary of BRAC, a leading development organization in the country. BRAC Bank is known for its focus on small and medium-sized enterprises (SMEs).

Textile schools in Bangladesh offer various academic and professional degrees in textile fields. A number of colleges and technical institutes as well as some universities offer diploma, bachelor's and master's degree from their allocated faculties upon completion of certification courses. Textile courses offered in these schools include spinning, weaving, knitting, dyeing, printing, finishing, apparels merchandising and fashion designing. As of 2019, textile material is the largest export item of Bangladesh. Bangladesh exported $42.35 billion worth of readymade garments in the 2018–2019 fiscal year.

<span class="mw-page-title-main">Districts of Bangladesh</span> Second-level administrative divisions of Bangladesh

The divisions of Bangladesh are divided into 64 districts or zila. The headquarters of a district is called a district seat. The districts are further subdivided into 495 subdistricts or upazilas.

<span class="mw-page-title-main">The City Bank</span> Bank in Bangladesh

The City Bank PLC is a Bangladeshi private commercial bank headquartered in Dhaka. The bank provides products and services in retail banking, corporate finance, SME Banking, women banking, digital banking, asset management, equity brokerage, and security. It has 133 branches. The bank is a licensee to issue Visa and MasterCard Debit and Credit Cards and it is the sole licensee of American Express Cards in Bangladesh.

<span class="mw-page-title-main">United Finance</span> Bangladeshi public financial services company

United Finance started its journey as a non-banking financial institution in 1989. They are affiliated with Duncan Brothers (Bangladesh) Limited, Camellia PLC and Lawrie Group PLC and its associated concerns who have a combined presence of over 150 years in Bangladesh. and changed into United Finance in 2014. It is listed in DSE. It provides financial services, such as investment, lease, loan, term finance, channel financing. The company was founded in 1989 and is headquartered in Dhaka, Bangladesh. United Finance collect around 80 percent of their funds directly from individual depositors.

<span class="mw-page-title-main">United Commercial Bank PLC</span> A private bank of Bangladesh

United Commercial Bank PLC (UCB) is a commercial bank in Bangladesh. It was established in 1983.

<span class="mw-page-title-main">Bank Asia Limited</span> Bangladeshi private bank

Bank Asia Limited is a private sector commercial bank in Bangladesh. Areef Billah Adil Chowdhury is the president and managing director of the bank. Romo Rouf Chowdhury, chairman of Rancon Group, is the chairman of Bank Asia Limited.

<span class="mw-page-title-main">Standard Bank Limited</span>

Standard Bank Limited is a private commercial bank in Bangladesh. founder by Kazi Akram Uddin Ahmed chairman of the bank and Kamal Mostafa Chowdhury is the founder vice-chairman and director of the bank. It stands among the least proficient banks in its performance.

<span class="mw-page-title-main">Bangladesh Tea Board</span>

The Bangladesh Tea Board or BTB, an autonomous body responsible for creating laws regarding tea production, controlling and encouraging the production of tea and is located in Nasirabad, Chittagong, Bangladesh. It is under the Ministry of Commerce.

<span class="mw-page-title-main">Chaldal.com</span> Bangladeshi grocery & food website

Chaldal.com, founded in 2013, is a grocery e-commerce platform in Bangladesh. The company offers its services via a website and mobile apps for Android and iOS. “Chaldal” is a Bengali word colloquially used to refer to "groceries". Chaldal started as an online grocery service provider and has since gone on to redefine supply chains, ease commodity trade, support refugee camps, and reduce food wastage by building technology into the supply chain, all the way back to the farms.

<span class="mw-page-title-main">2021–22 Bangladesh Premier League</span> Cricket Tournament

The Bangladesh Premier League 2022, also known as BPL Season 8 or Bangabandhu BPL 2022 presented by BBS Cables and powered by Walton, was the eighth season of the Bangladesh Premier League (BPL), the top-level professional Twenty20 cricket league in Bangladesh, organized by the Bangladesh Cricket Board (BCB). The season was scheduled to start from March 2021. However, the tournament was postponed and rescheduled to be held from 21 January to 18 February 2022.

MIDAS Financing Limited is a major non-bank financial institution in Bangladesh.

Md. Afzal Karim is a Bangladeshi banker and managing director of Sonali Bank Limited. Sonali Bank is the largest state owned bank in Bangladesh. He is the former managing director of Bangladesh House Building Finance Corporation. He is the chairperson of the executive committee of Bangladesh Foreign Exchange Dealers' Association. He is a director of Central Depository Bangladesh Limited.

Dandy Dyeing Limited is a dyeing company owned by the family of former Prime Minister of Bangladesh Khaleda Zia. The company and former Prime Minister Khaleda Zia, her sons, Tarique Rahman, and Arafat Rahman, were sued by Sonali Bank on charges of defaulting on a loan. According to Prime Minister Sheikh Hasina the company owed 400 million BDT to state-owned Sonali Bank.

References

  1. ↑ "Bangladeshi officials, executives choose to learn Chinese to get ahead". Xinhua News Agency. Archived from the original on 31 August 2016.
  2. ↑ "Arab Bangladesh Bank Limited - Banglapedia". en.banglapedia.org. Retrieved 13 October 2022.
  3. ↑ "Background of AB Bank Limited". AB Bank Limited. Retrieved 8 September 2016.
  4. ↑ "AB Bank aims to expand services to every corner of Bangladesh". The Business Standard. 12 April 2022. Retrieved 13 October 2022.
  5. ↑ "Arab Bangladesh Bank Limited". Banglapedia. Retrieved 8 September 2016.
  6. ↑ "AB Bank moves to 'B' category at bourses". The Business Standard. Retrieved 5 September 2020.
  7. ↑ "AB Bank to issue Tk500cr subordinated bond". The Business Standard. Retrieved 21 September 2023.
  8. ↑ "AB Bank gets Bangladesh Bank's recognition". New Age Limited. Retrieved 22 May 2022.
  9. ↑ "17 banks get appreciation letter from BB". Daily Sun. Retrieved 24 May 2022.
  10. ↑ "AB Bank receives award from Large Taxpayers Unit". The Business Standard. Retrieved 3 August 2022.
  11. ↑ "AB Bank, Bangabandhu Shishu kishor Mela celebrates PM Sheikh Hasina's 76th Birthday". The Daily Observer. Retrieved 30 September 2022.
  12. ↑ "AB Bank gets JP Morgan award". The Business Standard. Retrieved 16 October 2022.
  13. ↑ "AB Bank disbursed loans to small entrepreneurs". The Financial Express. Retrieved 3 November 2022.
  14. ↑ "AB Bank wins three at Mastercard Excellence Awards 2022". The Daily Star. Retrieved 28 November 2022.
  15. ↑ "AB Bank opened Rupatoli sub-branch at Barishal". The Financial Express. Retrieved 7 December 2022.
  16. ↑ "AB Bank organises training workshop for SME entrepreneurs in Jashore". The Business Standard. Retrieved 30 December 2022.
  17. ↑ "AB Bank organises training workshop for SME entrepreneurs in Chattogram". The Business Standard. Retrieved 5 January 2023.
  18. ↑ "AB Bank Limited held the 753rd meeting of its Board of Directors in Chattogram". The Financial Express. Retrieved 5 January 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.