"Agrani Bank Ltd. has created a comprehensive vision for the development of small and medium industries in last year as the development partner of the government.
The Bank has been able to maintain 10.02 pc as capital against the minimum requirement of 10 pc of total risk weighted assets as per requirement of Basel-III Accord", said speakers at the 13th Annual General Meeting of the bank.
The AGM took place virtually on Thursday.
Speakers also said that although non-performing loan (NPL) was looming large throughout the year in the banking industry we are able to pull down the amount of NPL from BDT 6,993 crore to BDT 6,643 crore NPL stood at 14.26 pc of gross loan which was 17.67 pc in 2018. Classified loan decreased by 5.01 pc in 2019.
The total recovery of classified loan was BDT 2,773 crore including cash recovery of BDT 411 crore and write-off loan recovery BDT 111 crore which was 144% higher than the previous year.
Dr. Zaid Bakht, Chairman of the Board of Directors of the Bank, presided over the meeting.
A B M Ruhul Azad, Additional Secretary, Financial Institution Division of Ministry of Finance was present as the representative of the Government of Bangladesh. Directors of the Bank, Managing Director & CEO of the Bank, Observer of Bangladesh Bank Directors of the board were also present in the meeting.
The total assets of the bank as on 31 December 2019 stood at BDT 85,393 core compared to BDT 78,915 crore in 2018 registering a growth by Tk 6,478 or 8.21 pc. Out of this total asset bank have 62 pc interest earning asset amounting BDT 53,002 core. At the end of 2019 Loans and Advances of the Bank stood at BDT 46,583 crore raising from BDT 39,575 crore of 2018 in which the percentage of performing loan was 86 pc.
The deposits grew up to BDT 69,224 crore in 2019 from Tk 62,193 crore of 2018 showing a progress of Tk 7,031 crore or 11.31% growth. Total shareholders’ equity was Tk 4243 crore with a growth of 2.03 pc. the return on equity (ROE) was 2.53 pc.
The Bank earned a large amount of operating profit BDT 900 crore with a growth of 8.15 pc over the preceding year. In 2019 the net interest income was BDT 634 crore which was highest among the State-owned Commercial Banks (SCBs). Total operating income also rose 3.15 pc to BDT 2,561 crore from the previous year.
ABL has been able to keep the first position unchanged in the in the year 2019 to earn foreign remittance among the State-owned Commercial Banks (SCBs). ABL foreign remittances increased by Tk 2,183 crore or 17.22% which highest among SCBs and the second highest among all banks in Bangladesh.
In 2019 Total import was Tk 38,841 crore which was Tk 15,290 or 64.92% higher than the preceding year. Also export amount stood at Tk 10,873 with 31.31 pc growth rate compare to previous year export BDT 8,280 crore.
Until December 31, 2019 a number of 29,837 loan amounting Tk 5,543 crore was distributed in the SME sector. According to Memorandum of Understanding (MOU) signed with Bangladesh Bank in 2019, all the set targets were achieved successfully along with Adjusted Loan Growth and operating expense limit.
A B M Ruhul Azad, Additional Secretary, conveyed his contentment for such progress in many indicators as a SCB.
He also pointed out some issues that the Bank may address and improve in the line with good governance, transparency, accountability and ethical values.
