Tarique Afzal has resigned as managing director of AB Bank, citing health reasons, according to AB Bank officials.
They said that he resigned while he was on leave and staying abroad.
Syed Mizanur Rahman, an additional managing director of the bank, has been given current responsibility of the MD position.
Afzal joined AB Bank as a deputy managing director in 2018 and was promoted to MD in July 2019.
His resignation has come at a time when the bank is grappling with serious financial challenges, including allegations of corruption and mismanagement by senior officials and unethical advantages taken by sponsor-directors.
The bank鈥檚 non-performing loans surged to Tk聽10,115 crore, accounting for 31 per cent of
its total loan disbursements of Tk 32,625 crore, in September 2024 compared with those of Tk聽5,940 crore in September 2023.
Afzal鈥檚 tenure also saw his political involvement as a member of the Awami League鈥檚 international subcommittee.
Following the government鈥檚 change in August, he left for Canada on a 15-day leave in the past month.
He was due to return on Sunday, but instead submitted his resignation via email, the officials said.
The ongoing financial troubles have severely impacted AB Bank鈥檚 ability to pay interest to depositors, further exacerbating the crisis, the officials said.
