AB Bank PLC approved a 2 percent stock dividend for the year 2023 at its 42nd annual general meeting (AGM) at Sena Malancha, Dhaka yesterday.

In 2023, the operating profit and profit after tax of the bank stood at Tk 501 crore and Tk 72 crore respectively. The net asset value per share was Tk 27.87.

Khairul Alam Choudhury, chairman of the board of directors, presided over the meeting. Tarique Afzal, managing director, and other directors and shareholders were also present, according to a press release.

Khairul Alam Choudhury was re-elected as a director and Md Fazlur Rahman and Ramendra Nath Basak were elected as director and independent director, respectively.

Maqsudul Huq Khan resigned from the board.

The AGM approved the directors' report and the audited financial statements for 2023. The shareholders appointed MM Rahman & Co Chartered Accountants as the statutory auditor, and SF Ahmed & Co Chartered Accountants as the corporate governance compliance auditor of the bank for 2024.