Habibur Rahman, managing director (MD) and CEO of the South Bangla Agriculture and Commerce Bank (SBAC) PLC, has resigned on personal grounds.

Rahman submitted his resignation to the bank's chairman, Md Moklesur Rahman, yesterday.

Two senior officials of the bank confirmed the matter to The Daily Star on condition of anonymity.

They stated that Rahman resigned six months before the end of his term, but his resignation has not yet been accepted.

The Daily Star contacted Chairman Md Moklesur Rahman and Managing Director Habibur Rahman, but both declined to comment on the matter. It has been learned that the bank's former chairman, Abu Zafar Mohammad Shofiuddin, who resigned due to political changes, had a close relationship with Habibur Rahman.

Habibur Rahman joined the bank as MD and CEO in December 2022 for a three-year tenure.