United Commercial Bank PLC holds 42nd Annual General Meeting

United Commercial Bank PLC (UCB), one of Bangladesh's leading financial institutions, held its 42nd Annual General Meeting (AGM) on July 31, 2025, at Kurmitola Golf Club in Dhaka.

The AGM had a notable turnout of esteemed shareholders. Mr. Sharif Zahir, Chairman of UCB's Board of Directors, presided over the meeting. Other distinguished attendees included the Independent Director and Vice Chairman, Md. Shazzad Hossoin; Director and Executive Committee Chairman, Md Tanvir Khan, Independent Director and Audit Committee Chairman, Obaidur Rahman FCA; Independent Director and Risk Management Committee Chairman; Md Yusuf Ali; and Managing Director and CEO Mohammad Mamdudur Rashid.

This meeting marked a pivotal milestone as the first held under the new board, formed with supervision from the Bangladesh Bank, ushering in a transformative chapter for the bank.

Shareholders decisively approved doubling UCB's authorised capital from BDT 25,00 crore to BDT 50,00 crore. They also endorsed rights shares and new shares for strategic investors—critical actions for future growth and stability.

The Board received a clear mandate to pursue strategic partnerships and additional capital, including talks with leading international institutional investors in digital banking and DFIs. All actions will be strictly by regulations and will obtain the necessary approvals.

Shareholders expressed satisfaction with UCB's achievements. They noted the bank's customer confidence, as evidenced by net deposits of BDT 7,783 crore and the opening of over 300,000 new accounts in six months. This success was attributed to dynamic leadership and the dedication of its employees.

The meeting concluded with the Chairman's consent. UCB's Chief Financial Officer, Faruq Ahmad, FCA, then formally declared the AGM closed. He extended heartfelt thanks to shareholders, regulators, and all stakeholders for their participation and support.