UCB holds 42nd AGM and announces strategic growth plans
United Commercial Bank PLC (UCB), one of Bangladesh's leading financial institutions, successfully held its 42nd Annual General Meeting (AGM) on July 31, 2025, at the Kurmitola Golf Club in Dhaka.
The meeting was attended by a strong presence of shareholders and was presided over by Mr. Sharif Zahir, Chairman of UCB's Board of Directors. Other key figures present included Md. Shazzad Hossoin, Vice Chairman and Independent Director; Md. Tanvir Khan, Director and Executive Committee Chairman; Obaidur Rahman FCA, Independent Director and Audit Committee Chairman; Md. Yusuf Ali, Independent Director and Risk Management Committee Chairman; and Mohammad Mamdudur Rashid, Managing Director & CEO.
This AGM was pivotal, being the first under the supervision of the Bangladesh Bank, and marked the start of UCB's renewed focus on transformation and long-term growth.
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Key Decisions and Developments:
- Shareholders approved a decision to double UCB's authorized capital from BDT 25,00 crore to BDT 50,00 crore.
- Shareholders also authorized the issuance of rights shares to increase paid-up capital and new shares for strategic investors, thereby strengthening UCB's financial foundation and supporting its growth strategy.
- The Board was authorized to explore strategic partnerships and engage with international institutional investors in banking, digital banking, and development financial institutions, ensuring compliance with necessary regulations and approvals.
- Over the past six months, UCB achieved BDT 7,783 crore in net deposits and opened more than 300,000 new accounts, highlighting robust performance and effective leadership.
After the meeting, Faruq Ahmad, Chief Financial Officer of UCB, formally concluded the AGM and expressed heartfelt gratitude to shareholders, regulators, and all stakeholders for their active participation and continued support.
This meeting reaffirmed UCB's strategic direction, commitment to growth, shareholder value, and a stronger market presence.
