It is a broadly described annual report of AB Bank Limited in the year of 2016. In 2016, AB Bank contributed Taka 428 Crore into the national exchequer in the form of the VAT, Income Tax, and Excise Duty. At the end of 2016, Bank’s total capital reached BDT 3,064.04 Crore as against BDT 2,833.28 Crore on 31st December 2015. Total Assets of the Bank increased to Tk. 31,484 Crore from Tk. 28,501 Crore registering an increase of 10.47%. This year, the profit after Tax reached Tk. 130 Crore. The equity of the Bank also reflected a growth of 1.4%. Earnings per share stood at Tk. 1.94 in 2016 compared to Tk. 1.89 last year. The share market value of AB stood at Tk. 1,503 Crore whereas the book value of the Shareholders Equity stood at Tk. 2,311 Crore, resulting in a negative Market Value of Tk. 809 Crore as on 31st December 2016.
The Board of Directors of the Bank has recommended a Stock Dividend @12.5% for the year ended 31st December 2016. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.
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