UCB approves 2024 financials, allocates entire profit to NPL provisions
United Commercial Bank PLC (UCB) has convened its 513th Board Meeting.
During the meeting, the Board approved the audited financial statements for the year ending 2024 as well as the unaudited results for the first quarter of 2025.
In a strategic move reflecting its commitment to transparency and financial resilience, the Board resolved not to declare any dividends for 2024. Instead, the bank will allocate its entire operating profits to provisions for non-performing loans (NPLs). This decision underscores UCB's long-term focus on balance sheet integrity, regulatory alignment, and sustainable value creation.
Keep updated, follow The Business Standard's Google news channel
With continued deposit growth and rising market confidence, the Board also approved a rights share issuance aimed at strengthening the bank's capital base. This move is intended to support future asset growth and facilitate the replacement of legacy NPLs with high-quality, performing loans, further reinforcing UCB's position in the banking sector.
While acknowledging that the path to full recovery will take time, the Board reiterated its commitment to a disciplined and transparent transformation roadmap. With strong leadership alignment and a unified vision, UCB is positioning itself to emerge as one of the most resilient and trusted financial institutions in Bangladesh.
