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09 August 2022

Business Insider Bangladesh

SBAC Bank profit rises by Tk 58cr in 2021

BI Report || BusinessInsider

Published: 18:17, 8 January 2022   Update: 18:21, 8 January 2022
SBAC Bank profit rises by Tk 58cr in 2021

Abdul Kadir Molla, chairman of South Bangla Agriculture and Commerce Bank, inaugurated Annual Business Development Conference 2022 as chief guest at Le Meridien Hotel in the city of Dhaka on Saturday. Photo: Courtesy

South Bengal Agriculture and Commerce (SBAC) Bank announced that the bank's profit has increased by Tk 58 crore or 38 percent in 2021.

The announcement came in the annual business development conference of SBAC, which was held on Saturday at La Meridian Hotel in the capital, said a press release.

At the conference, it was informed that the number of deposits of SBAC Bank stood at Tk 7,319 crore at the end of 2021, which was Tk 7,145 crore at the end of the previous year.

And at this time, the amount of debt stood at Tk 6,540 crore, which was Tk 5,740 crore at the end of 2020.

Moreover, at the end of 2021, the operating profit stood at Tk 210 crore, compared to the previous year's profit of Tk 152 crore, the press release added.

Chairman of the bank Abdul Qadir Mollah was present at the programme as chief guest, while vice chairman of the bank Alhaj Mizanur Rahman, Director Mohammad Ayub, Engineer Md Mokhlesur Rahman, Mohammad Nawaz, Md Helaluddin and Anwar Hossain, Prof Md Maqbool Hossain Bhuiyan, chairman of Shariah Supervisory Council Md Abdur Razzak, were present as special guests.

“We have correspondence with 202 banks in the world. Besides, we are receiving the largest amount of remittances from contemporary banks,” said Mosleh Uddin, managing director and chief executive officer of the bank.