SBAC Bank MD resigns

Habibur Rahman, managing director and CEO of South Bangla Agriculture and Commerce (SBAC) Bank, has resigned from his post citing personal reasons.

A senior official of the fourth-generation bank confirmed the matter to The Daily Star seeking anonymity.

Rahman submitted the resignation letter to the chairman of the bank through Company Secretary Md Mokaddess Ali on September 7.

Rahman joined the bank as the MD and CEO in December last year for a three-year term.

Rahman could not be reached for comments despite repeated attempts.

"I am yet to get the resignation letter from him (Rahman)," SBAC Bank Chairman Abu Zafar Mohammod Shofiuddin told The Daily Star.

Last week, Padma Bank Managing Director Tarek Reaz Khan resigned from his post citing personal reasons.

Currently, SBAC Bank, which started its journey in April 2013, has 88 branches, 25 sub-branches and 62 ATM booths. 

As of March this year, the bank's outstanding loans totalled Tk 7,860 crore, while non-performing loans stood at Tk 396 crore.