M. Wahidul Haque, Chairman of AB Bank Limited, speaks at the 31st AGM at Bashundhara Convention Centre-2 at Bashundhara, Baridhara in Dhaka on Sunday.

AB Bank Limited approved 12.50 percent stock dividend for its shareholders for the year ended on 2012.

The approval came at the 31st Annual General Meeting (AGM) of the bank at the Bashundhara Convention Centre-2 at Bashundhara, Baridhara in Dhaka on Sunday. 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 2012. AB Bank Limited completes 31st years of successful banking recently.

Net Asset Value (NAV) of the bank stood at Tk.1,622 crore in 2012, which is 8 percent higher than the previous year. Earnings Per Share (EPS) was Tk.3.32 in 2012 which was Tk.3.15 in 2011. Total Asset of the bank stood at Tk.17,552 crore at the end of 2012 reflecting a growth of 14%.

The Credit Rating Agency of Bangladesh Limited (CRAB) awarded the bank an AA3 in the long term and ST-2 rating in the short term, indicating the bank’s strong capacity to meet financial commitments and its commendable position in terms of liquidity and internal fund generation, the AGM was told.