Shimanto Bank plans IPO by 2028

Shimanto Bank PLC plans to go for an initial public offering (IPO) by 2028, subject to an evaluation of the bank’s overall financial situation.

Maj Gen Mohammad Ashrafuzzaman Siddiqui, director general of Border Guard Bangladesh and chairman of the bank, said this at the bank’s 10th annual general meeting (AGM), held recently at the BGB headquarters in Peelkhana, Dhaka.

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In his welcome speech, Ashrafuzzaman highlighted some of the actions taken and progress made by Shimanto Bank PLC on decisions aimed at the welfare of members of Border Guard Bangladesh.

The bank’s operating profit increased by 6.08 percent in 2025, while its assets increased to Tk 4,149.91 crore, registering growth of 25.70 percent. Loans and investments increased by 23.37 percent and 41.08 percent, respectively, he said while presiding over the meeting, according to a press release.

Deposits stood at Tk 3,276.12 crore, representing growth of 29.21 percent over the same period. The bank’s capital adequacy ratio stood at 25.07 percent, against the regulatory minimum requirement of 12.5 percent. He informed the shareholders about initiatives to introduce an “Islamic Banking Window” and “Agent Banking”.

Md Nurul Azim, managing director and CEO of the bank, said its paid-up capital had increased to Tk 525 crore from Tk 400 crore in 2016.

He assured the shareholders that the bank would remain committed to achieving its goals. Hossain Suman, company secretary of the bank, moderated the AGM.

The shareholders approved the directors’ report, auditor’s report and other major issues placed before the meeting.