South Bengal Agricultural And Commercial Bank Public Limited (SBACBPLC) Is A Private Commercial Bank Headquartered In Dhaka, Bangladesh. It Was Incorporated In 2013 Under The Companies Act 1994 As A Banking Company And Is Regulated Under The Banking Companies Act 1991. The Bank Has 88 Branches And 25 Sub-branches Across The Country.
SBAC Has A 19-member Board Of Directors Chaired By Mr. Abu Zafar Mohammod Shofiuddin. Engineer Md. Moklesur Rahman Serves As Vice Chairperson Of The Board. Habibur Rahaman Has Been Serving As Managing Director And Chief Executive Officer (Acting) Of The Bank. The Bank Is Listed On The Dhaka Stock Exchange And The Chittagong Stock Exchange. The Bank Is Facing Enquiries For Multiple Irregular Loans In 2021.
History
South Bengal Agricultural And Commercial Bank Limited Was Established On April 28, 2013 Under The 4th Generation Private Banking License Of Bangladesh Bank. It Was Founded By SM Amjad Hossain, Owner Of Lockpur Fisheries. [8] Abdul Mannan Chowdhury And Qazi Abdul Majid Are The Other Major Shareholders Of The Bank. Md Rafiqul Islam Joined South Bengal Agricultural And Commercial Bank Limited As CEO And Managing Director.
In September 2017, Md Golam Faruque Was Appointed CEO And Managing Director Of South Bengal Agricultural And Commercial Bank Limited.
In 2018, It Became One Of Six Banks That Can Pay Titas Gas Bills.
SM Amzad Hossain Was Re-elected Chairperson Of South Bengal Agricultural And Commercial Bank Limited In February 2019.
Tariqul Islam Chowdhury Resigned As Managing Director Of The Bank In April And Was Replaced By Mosleh Uddin Ahmed. In May, The Bank Was Listed On The Dhaka Stock Exchange. On September 27, 2021, Abdul Kadir Mlla Of Thermax Group Was Elected As Chairperson Of South Bengal Agricultural And Commercial Bank Limited. This Follows The Resignation Of SM Amzad Hossain, Chairperson Of Lockpur Group And Founding Chairperson Of The Bank Since 2013, And The Freezing Of His Accounts. The National Tax Commission Is Investigating Tax Evasion By Khulna Printing & Packaging Limited, A Subsidiary Of Lockpur Group. The Bangladesh Financial Intelligence Service Has Requested The Freezing Of Bank Account Info Of SM Amzad Hossain And His Family. He Arranged The 400 Million Taka Loan, In Violation Of Banking Norms. South Bengal Agricultural And Commercial Bank Limited Has Suspended Deputy General Managers Md Kamal Uddin And Shafiuddin Ahmed, As Well As Nine Other Officials Of The Bank, At The Direction Of The Bangladesh Bank, Which Found Them To Be Involved In Irregular Loans. The Anti-Corruption Commission Indicted SM Amzad Hossain And Six Others For Misappropriating South Bengal Agricultural And Commercial Bank Limited's 200 Million Taka. Hussain Fled The Country After An Investigation Into Him Began, And The Case Was Subsequently Filed. Bangladesh Islamic Bank Limited Has Called For An Auction Of Hussain's Assets. Tahmina Afroz, Wife Of Anwar Hossain Khan, Sold Her Shares In The Bank At The Dhaka Stock Exchange. Two Shareholders, Who Are Directors Of Ratanpur Steel Re-Rolling Mills Limited, Also Sold Their Shares In The Bank.
In August 2022, The Bangladesh Financial Intelligence Service Requested Bank Account Info Of Abdul Kadir Molla, Chairperson Of South Bengal Agricultural And Commercial Bank Limited, On The Grounds That He Was Accused Of Obtaining Loans In Violation Of Banking Laws. South Bengal Agricultural And Commercial Bank Limited Celebrated The 76th Birthday Of Prime Minister Sheikh Hasina. In November, The Bank Donated Blankets To The Relief Fund Of Prime Minister Sheikh Hasina.
As Of June 2022, The Bank's Statutory Capital Is 10 Billion Bangladeshi Taka, While Its Paid-in Capital Is 8.16 Billion Bangladeshi Taka. Mr. Abu Zafar Mohammod Shofiuddin Was Elected Chairperson Of South Bengal Agricultural And Commercial Bank Limited In August 2023.
The Bank Donated 10 Million Bangladeshi Taka To Prime Minister Sheikh Hasina's Ashrayan Project 2
