Agrani Bank PLC holds 18th AGM

Agrani Bank PLC conducted its 18th Annual General Meeting (AGM) on July 31 at the bank's Head Office Board Room. 

The meeting was presided over by the Chairman of the Board of Directors, Syed Abu Naser Bukhtear Ahmed. 

Nazma Mobarek, Secretary of the Financial Institutions Division under the Ministry of Finance, attended the event as chief guest and government representative.

Board Directors Dr. Md. Fazlul Hoque, Kabirul Ezdani Khan, Mohammad Sultan Mahmud, Muzaffar Ahmed, Md. Sayed Kutub, and Md. Rizwanul Huda were also present. Managing Director and CEO Md. Anwarul Islam, Bangladesh Bank observer Md. Amzad Hossain Khan, Deputy Managing Directors, General Managers, and representatives from the audit firm also joined the meeting.The audited financial statements for the year 2024 were unanimously approved during the session.

In her remarks, Nazma Mobarek, discussed the bank's business targets and expressed her optimism that Agrani Bank would demonstrate even stronger performance in all financial indicators and continue to lead as a top state-owned commercial bank. Chairman Syed Abu Naser Bukhtear Ahmed reviewed the 2024 financials and expressed satisfaction with the bank's achievements across all key business metrics. Managing Director and CEO Md. Anwarul Islam presented an overview of the bank's performance in areas such as loan recovery, deposits, lending, operating profit, import-export activities, remittance inflow, and service expansion. He highlighted the bank's growing contribution to both the national economy and social development.

In 2024, Agrani Bank's total assets rose to Tk. 1,28,106 crore from Tk. 1,23,096 crore in 2023, reflecting a 4.07% growth. Interest-earning assets increased by 3.22% to Tk. 83,066 crore. The bank's total investment stood at Tk. 27,760 crore, with Tk. 21,599 crore in government securities. This marks a 9.10% increase over 2023. The return on investment improved to 8.71% from 7.90% the previous year. Loans and advances grew by 4.41%, reaching Tk. 79,037 crore. Deposits stood at Tk. 99,232 crore, up Tk. 323 crore from the previous year, with 54% being low or no-interest deposits. The Advance- deposit (AD)  ratio was 79.65%. The bank posted an operating profit of Tk. 1,511 crore in 2024. Its net interest spread stood at 5.38%, and operational costs remained within the limits agreed upon with Bangladesh Bank. Provisioning reached Tk. 9,083 crore up 30% from the previous year.

Once again, Agrani Bank ranked first among state-owned banks in inward foreign remittance collection. In 2024, the bank facilitated Tk. 21,033 crore in remittances a 76.24% increase from 2023. For this achievement, it received the "Remittance Award 2024" from the Ministry of Expatriates' Welfare and Overseas Employment. The bank also played a major role in trade finance. Import transactions totaled Tk. 50,588 crore, reflecting a 21.18%growth over 2023. On the other hand, Export transactions reached Tk. 14,114 crore. Classified loans stood at Tk. 32,002 crore in 2024. The bank made significant strides in loan recovery, retrieving Tk. 1,726 crore, including Tk. 441 crore in cash.

Agrani Bank PLC. continues to operate with efficient leadership and skilled human resources, contributing actively to national development. In his closing remarks, the Managing Director and CEO reaffirmed the bank's commitment to delivering improved customer service, achieving higher business growth, and strengthening institutional reputation in 2025 and beyond.