AB Bank yesterday approved 10 percent cash and 15 percent stock dividend for its shareholders for the year 2010.

The approval was given at the 29th Annual General Meeting (AGM) at Bangabandhu International Conference Centre. M Wahidul Haque, chairman of the bank, presided over the AGM, said a press release.

The AGM also approved the annual report and the audited accounts of the bank for the year 2010 showing a consolidated PAT of Tk 3.99 billion.

The bank's net profit in 2010 grew by 17 percent over the last year. Net Asset Value (NAV) stood at Tk 14.15 billion in 2010 which is 38 percent higher than 2009. Earning Per Share (EPS) of the company was Tk 124.47, 40 percent more than last year.

Deposit of the bank rose by Tk 11.70 billion, and the diversified loan portfolio grew by Tk 24.67 billion. Foreign business transactions by the bank totaled to Tk 132.44 billion in 2010, marking a growth of 37 percent.

News: Daily Sun/ Bangladesh/ July-13-2011