AB Bank (formerly Arab Bangladesh Bank) is a leading private sector bank in Bangladesh. Bangladesh to its very first private sector bank; AB Bank Limited was incorporated on 31st December 1981. Arab Bangladesh Bank as formerly known started its effective operation on 12th April 1982 with the mission to be the best performing bank in the country.
With an ambition to secure its place as the leading service provider, creating lasting value for its clientele, shareholder, and employees and particularly for the community it operates in, AB has formulated a golden heritage and an envious legacy that may not be imitated by many. Achieving plenty of milestones and incorporating numerous changes over the last 40 years, AB has always been authentic to its desire of being the technology-driven innovative bank of Bangladesh. To excel in this new era of technological triumph, AB has successfully introduced internet banking, SMS banking, cutting-edge ICT, state-of-art network solutions, 24/7 ATM service, and many other e-products.
AB has extensively widened its services over the last three decades both at home and abroad. The bank opened its very first branch at Karwan Bazar on 12th April 1982 and now has a successful footprint of 105 branches including one overseas branch in Mumbai, India, and 270 plus ATMs spread across the country. it has associated 5 subsidiary companies including one Off-shore Banking Unit and Custodial services with its core banking activities. The Bank opened its Representative Office in Yangon, Myanmar for extending its foreign operations.
History of AB Bank
AB-Bank was established on 31 December 1981. This was the first joint venture private bank in Bangladesh. On 14 November 2007 Bangladesh bank approved the name change to AB-Bank from Arab Bangladesh Bank. A former deputy managing director was charged with embezzling 3.25 billion takas from the bank.
In February 2008, AB-Bank was fined 100 million takas for violating securities law with excessive marginal loans. The majority of these loans from the merchant banking wing of AB-Bank went to bank employees and their relatives.
In 2014 AB-bank completed its acquisition of Cashlink Bangladesh Limited. A former vice president and his wife were sentenced to prison terms for embezzlement from the bank in 2016.