Eight banks defer scheduled board meetings

Eight publicly listed banks have rescheduled their upcoming board meetings — mandated for announcing the annual financials and dividends for 2024, as well as publishing the first-quarter financials for 2025 — leaving investors in the dark.

The banks have published separate disclosures on the Dhaka Stock Exchange (DSE) on Thursday (22 May). The rescheduling has primarily occurred to obtain central bank approval for declaring dividends for 2024, according to sources within the banks.

The banks are – AB Bank, First Security Islami Bank, Social Islami Bank, NRB Bank, NRBC Bank, United Commercial Bank, South Bangla Agricultural Bank, and Southeast Bank.

Several officials of these banks said the deadlines for announcing 2024 dividends and financials (ending 31 December) and first-quarter results (ending this March) have already passed.

The government extended the deadline for announcing dividends and publishing financials to 31 May, but banks are still awaiting final approval from the central bank. Expecting it next week, they have rescheduled board meetings, officials said.

AB Bank has rescheduled its board meeting — originally set for 30 April — to 31 May.

An official of the bank said, "We rescheduled the meeting as we have yet to receive the central bank's approval letter."

First Security Islami Bank rescheduled its board meeting on 29 May, which was scheduled on 30 April.

Social Islami Bank rescheduled its board meeting – initially set for 30 April – on 29 May, subject to consent from the Bangladesh Bank.

NRB Bank rescheduled its annual board meeting on 29 May, which was scheduled on 30 April.

United Commercial Bank rescheduled its first quarter board meeting on 29 May, which was scheduled on 29 April. The bank also rescheduled its annual board meeting to 29 May.

Meanwhile, South Bangla Agricultural Bank, Southeast Bank and NRBC Bank have also rescheduled their annual board meeting on 28 May, 28 May and 29 May, respectively.