It is a broadly described annual report of South Bangla Agriculture and Commerce Bank Limited in the year of 2016. During the calendar year 2016, The Bank contributed Tk. 296.36 million as Tax, Tk. 269.89 million as advance tax & Tk. 97.41 million as VAT and excise duty to the national exchequer. Total assets of the bank stood at Tk. 45,599.98 million in 2016 as against Tk. 36,687.93 million in 2015 registering a growth of 24.29%. The deposits of the Bank stood Tk. 38,337.20 million in 2016 as against Tk. 30,775.38 million in 2015 registering growth of 24.57%. The operating income stood at Tk. 2,962.06 million in 2016 as against Tk. 1,831.40 million in 2015 showing growth of 61.73%. The net profit before tax of SBAC Bank Limited stood at Tk. 1,445.88 million in 2016 as against Tk. 727.33 million in 2015 showing growth of 98.79%. Net profit after tax stood at Tk. 949.45 million in 2016 as against Tk. 358.00 million in 2015 showing growth of 165.21%.
The Board of Directors of the Bank has recommended @15% stock dividend for the year 2016.
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