Shimanto Bank targets stock market listing by 2028
Shimanto Bank PLC plans to launch an initial public offering (IPO) by 2028 after evaluating its overall financial position, the bank’s chairman has said.
According to a press release, the bank held its 10th Annual General Meeting (AGM) on Wednesday at Shahid Captain Ashraf Hall at the Border Guard Bangladesh (BGB) headquarters in Peelkhana, Dhaka, where it made the announcement.
The meeting was presided over by BGB Director General and Shimanto Bank Chairman Maj Gen Mohammad Ashrafuzzaman Siddiqui, OSP, BSP, SUP, BGBM, ndc, psc, MPhil.
At the AGM, shareholders approved the directors’ report and auditor’s report, elected directors, and appointed an auditor.
In his welcome address, Mohammad Ashrafuzzaman Siddiqui highlighted the bank’s financial performance and the initiatives undertaken for the welfare of BGB members.
He said operating profit rose 6.08pc in 2025, while total assets grew 25.70pc to Tk4,149.91 crore.
Loans and investments increased by 23.37pc and 41.08pc, respectively, while deposits rose by 29.21pc to Tk3,276.12 crore.
The bank maintained a capital adequacy ratio of 25.07pc, against the regulatory minimum of 12.5pc.
The chairman also briefed shareholders on plans to introduce an Islamic banking window and agent-banking services.
He said Shimanto Bank would move towards an IPO by 2028 after assessing its overall financial position.
Shimanto Bank Managing Director and CEO Md Nurul Azim said paid-up capital had increased to Tk525 crore from Tk400 crore in 2016.
He assured shareholders that the bank remained committed to achieving its goals and objectives through the strategic direction of the Board of Directors and the expertise of its management team.
Md Nurul Azim thanked the Board of Directors, shareholders, customers, BGB, and regulatory authorities, including Bangladesh Bank, for their confidence and support.
Shareholders, directors, senior officials of BGB and Shimanto Bank, and other stakeholders attended the AGM.
Shimanto Bank Company Secretary Hossain Suman, FCS, moderated the meeting.
