SBAC Bank completes 10 years with steady growth
South Bangla Agriculture and Commerce (SBAC) Bank stands on a strong foundation on its 10th anniversary as all of its financial indicators continue to show positive trends.
In the last one decade, the bank has continued to grow sustainably in the indicators of deposits, loans and advances, import-export trade, remittance flow, capital adequacy, total assets etc., reads a press release.
The profit of the bank is also in line with the economy of the country and the bank's capital adequacy ratio is adequate in consistence with its glorious success.
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SBAC Bank's defaulted loan is also low despite the upward trend in the banking industry. These positive trends emerged in the financial review of the bank on its 10th anniversary.
SBAC Bank started its journey on 3 April, 2013. At the end of 2022, the total assets of the bank stood at Tk10,663 crore, which is 8.61% more than the previous year.
During this time, the total amount of deposits is about Tk9,000 crore and the amount of loans and investments is Tk8,200 crore.
The loan and deposit interest rate gap is also at a desirable level. At the end of 2022, the paid-up capital of the bank stood at Tk816 crores. Capital Adequacy Ratio stands at 14.04% as there is surplus capital in Basel-III requirements. Which proves a strong financial base in SBAC Bank.
