AB Bank

AB Bank (formerly Arab Bangladesh Bank) is a leading[1] private sector bank in Bangladesh

AB Bank Limited
TypePublic Limited Company
DSE: ABBANK
IndustryBanking
FoundedApril 2, 1982 (1982-04-02) in Dhaka, Bangladesh
Headquarters
Dhaka
,
Bangladesh
Number of locations
104
Key people
Muhammad A. (Rumee) Ali (Chairman)
ProductsConsumer Banking
Corporate Banking
Websiteabbl.com

History

AB Bank was established on 31 December 1981.[2] This was the first joint venture private bank in Bangladesh. On 14 November 2007 Bangladesh bank approved the name change to AB Bank from Arab Bangladesh Bank.[3] A former deputy managing director was charged with embezzling 3.25 billion taka from the bank.[4][5]

In February 2008, AB Bank was fined 100 million taka for violating securities law with excessive marginal loans. The majority of these loans from the merchant banking wing of AB Bank went to bank employees and their relatives.[6]

In 2014 AB bank completed its acquisition of Cashlink Bangladesh Limited.[7] A former vice president and his wife were sentenced to prison terms for embezzlement from the bank in 2016.[8]

See also

AB Bank Branch Routing Number

References
  1. "Bangladeshi officials, executives choose to learn Chinese to get ahead". Xinhua News Agency.
  2. "Background of AB Bank Limited". AB Bank Limited. Retrieved 8 September 2016.
  3. "Arab Bangladesh Bank Limited". Banglapedia. Retrieved 8 September 2016.
  4. "Ex-AB Bank DGM held for amassing Tk 325cr". The Daily Star. 17 July 2016. Retrieved 8 September 2016.
  5. "BB general manager arrested". The Daily Star. 17 July 2016. Retrieved 8 September 2016.
  6. here, For Full Story please click (18 February 2008). "Tk 10cr fine slapped on AB Bank". The Daily Star. Retrieved 30 April 2021.
  7. "AB Bank completes Cashlink acquisition". The Daily Star. 18 October 2014. Retrieved 8 September 2016.
  8. "Ex-AB Bank official, wife get life term imprisonment". Dhaka Tribune. Archived from the original on 18 September 2016. Retrieved 8 September 2016.

External links

AB Bank Branch Routing Number Full List

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