Agrani Bank Limited retained its first position in earning foreign remittance among the state-owned commercial banks and the second-highest among all banks in Bangladesh in 2020.
In 2020, the bank earned foreign remittances worth Tk21,014 crore, up by Tk6,151 crore or 41% compared to the previous year, said Agrani Bank Managing Director and CEO Mohammad Shams-Ul Islam at the 14th Annual General Meeting (AGM) on Thursday, reads a press release.
The CEO added that the total asset of the bank till 31 December 2020 stood at Tk109,310 crore, registering a growth by Tk23,916 crore or 28% compared to 2019. Besides, the bank had 55% interest-earning assets amounting to Tk59,691 crore.
The bank's loans and advances grew by 12% to stand at Tk51,944 in 2020, compared to the previous year. It has also earned Tk21,014 crore in foreign remittances, progress by 41% from last year.
Compared to the previous year, the deposits of the bank grew up by 33% to Tk92,199 crore in 2020. The total import amount was Tk24,874 crore and the export amount stood at Tk10,637crore that year.
Total shareholders' equity was Tk4207 crore in 2020 while the return on equity was 1.49%.
The bank's classified loan was 12.46% which was 14.26% in the preceding year. The total recovery of classified loans was Tk945 crore, including cash recovery of Tk218 crore in 2020.
Presided over by the chairman of the bank Zaid Bakht, the 14th AGM also approved the audited financial statement of the bank for the year ended 31 December 2020 and appointment A Qasem & Co and Masih Muhith Haque & Co Chartered Accountants firms as auditors of the bank for 2021.
Moreover, CEO Shams-Ul discussed the bank's performance in 2020 as well as its future work plan.
Members of the board of directors Mafiz Uddin Ahmed, Kashem Humayun, Faraz Ali, AKM Manzurul Haque Lablu, Khandaker Fazle Rashid, Tanzina Ismail and Md Shahadat Hossain also took part in the meeting virtually.
Bangladesh Bank Executive Director AKM Fazlur Rahman joined the meeting virtually as an observer while additional secretary of the Financial Institutions Division Abdullah Harun Pasha was present as a representative of the government.