History
South Bangla Agriculture and Commerce Bank Limited started on 28 April 2013 obtaining license from Bangladesh Bank as a fourth generation private bank.[7][8] It was founded by SM Amjad Hossain owner of Lockpur Fisheries.[8] Abdul Mannan Chowdhury and Qazi Abdul Majid were the other major shareholders of the bank.[9] Md Rafiqul Islam joined as the CEO and managing director of South Bangla Agriculture and Commerce Bank Limited.[10]
In September 2017, Md Golam Faruque was appointed CEO and managing director of South Bangla Agriculture and Commerce Bank Limited.[11]
In 2018, it became one of six banks where Titas Gas bills could be paid.[12]
SM Amzad Hossain was reelected chairman of South Bangla Agriculture and Commerce Bank Limited in February 2019.[13]
Tariqul Islam Chowdhury resigned in April as the managing director of the bank and was replaced by Mosleh Uddin Ahmed.[14][15] In May, the bank listed on the Dhaka Stock Exchange.[16] On 27 September 2021, Abdul Kadir Molla, Thermax Group, was elected chairman of South Bangla Agriculture and Commerce Bank Limited.[17] It followed the resignation of SM Amzad Hossain, chairman of Lockpur Group and the founding chairman of the bank since 2013, and whose accounts were frozen.[18][19] The National Board of Revenue was investigating tax evasion by Khulna Printing & Packaging Limited, a subsidiary of Lockpur Group.[18] The Bangladesh Financial Intelligence Unit asked for the bank account information on SM Amzad Hossain and his family members to be frozen.
In August 2022, the Bangladesh Financial Intelligence Unit asked for the bank account information on Abdul Kadir Molla, chairman of South Bangla Agriculture and Commerce Bank Limited, over allegations that he had taken loans violation banking laws.[28] The South Bangla Agriculture and Commerce Bank Limited celebrated the 76th birthday of Prime Minister Sheikh Hasina.[29] In November, the bank donated blankets to the relief fund of Prime Minister Sheikh Hasina.[30]
The bank has authorized capital of BDT 10 billion, while its paid-up capital is BDT 8.16 billion up to June 2022.[1] Mr. Abu Zafar Mohammod Shofiuddin was elected chairman of South Bangla Agriculture and Commerce Bank Limited in August 2023.
The Bank donated 10 million BDT to Ashrayan Project–2 of Prime Minister Sheikh Hasina.[31]
