Staff Reporter: The 43rd Annual General Meeting (AGM) of United Commercial Bank PLC (UCB), one of the country’s leading private banks, has been successfully held. The meeting unanimously approved by the shareholders and took an important decision to double the authorized capital of the bank, which is a step to further strengthen the bank’s long-term growth and capital base.
The AGM held at Kurmitola Golf Club in the capital on Thursday (June 11, 2026) was presided over by UCB’s Chairman of the Board of Directors, Sharif Zahir. The meeting was attended by the bank’s Independent Director and Vice-Chairman Md. Sajjad Hossain, Chairman of the Directors and Executive Committee Md. Tanvir Khan, Independent Director and Chairman of the Audit Committee Imam Hassan FCA, Independent Director and Chairman of the Risk Management Committee Md. Yusuf Ali and Managing Director and Chief Executive Officer (CEO) Mohammad Mamdudur Rashid and Deputy Managing Director and CFO Farooq Ahmed, FCA.
The meeting was informed that despite various economic challenges, UCB has achieved significant success in business growth and modernization in 2025. During this period, the bank achieved the highest deposit growth of 23 percent in its history, which is more than double the average growth rate of the country’s banking sector (11 percent). As a result, the bank’s total deposits increased by about Tk 13,000 crore to Tk 68,394 crore and at the same time, about 6 lakh 78 thousand new customer accounts were added.
Through efficient balance sheet management, the bank has significantly strengthened its liquidity position by reducing its loan-deposit ratio from 91.3 percent to 83 percent. Along with a positive growth of 8 percent in the loan and advance sector, about Tk 114 crore was recovered from defaulted or written-off loans, which is almost three times compared to the previous year. Due to the new regulatory policies, the classified loan rate reached 19 percent at one stage, but it has been reduced by about 4 percent to 15.5 percent due to special efforts in risk management and recovery.
Extraordinary growth has also been achieved in Islamic banking activities, where deposits have increased by 163 percent and investments by 145 percent. In the field of inclusive banking, UCB’s agent banking activities have seen profit for the first time and other operating expenses have been reduced by about Tk 970 crore through disciplined cost management. This unprecedented growth has been achieved with only a 3 percent increase in manpower.
In the technology sector, UCB has taken its digital capabilities to unprecedented heights by launching the country’s first microservice-based ‘Open API Banking Platform’ and the UCB One App, as a result of which about 65 percent of the bank’s total transactions are currently being completed digitally.
Shareholders at the meeting expressed satisfaction with UCB’s recent business progress.
At the end of the meeting, Company Secretary Tanvir A Siddiqui thanked FCA shareholders, regulators and all stakeholders for their support and trust. Later, with the approval of the Chairman, he declared the meeting closed.
The Annual General Meeting ended with a commitment to move towards a sustainable and promising future through strengthening good governance, expanding technology-enabled banking and a strong capital structure.
Views: 3
