The service tenure of Tarique Afzal, incumbent president and managing director of AB Bank limited, has been extended by five years.
He took over as the President and Managing Director of AB Bank on July 7, 2019 and his reappointment will be effective from July 8, 2022 after the end of his current service tenure, said a press release.
During his tenure, AB bank has consistently increased its revenue, which has enabled the bank to double its operating profit in 2021, it said.
Read: Police arrest AB Bank DMD in fraud case
The bank's non-performing loans have been reduced and the quantity of assets has been enhanced through litigation against defaulters and taking appropriate action. It is mentioned that the ratio of income to expenditure of the bank has been reduced from 65 percent to 48 percent.
Afzal started his banking career in London, United Kingdom in the late 1970's and later worked for TD Bank (Canada), ANZ Grind ledge, Standard Chartered Bank Bangladesh. He also held senior positions at Bank Al-Falah and BRAC Bank.
Tarique Afzal holds an MBA in Finance and Marketing. He has also received two Certification Awards. He is the author of the book "Emergence of New Era" on SME and Women Entrepreneurship.
Read ACC files case against 17 people including 16 AB bank officials