L-R: Md Shahabuddin Alam and Morshed Alam

Md Shahabuddin Alam and Morshed Alam have been elected as chairmen of the executive committee and audit committee respectively of Mercantile Bank Limited, the bank said in a statement yesterday.
The election took place after the re-constitution of the bank's board.
A post-graduate in management, Md Shahabuddin Alam is a sponsor of Mercantile Bank and the managing director of SA Group of Industries.
He is also the vice chairman of Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association.
Morshed Alam is also a sponsor of the bank and the founder chairman of Bengal Group of Industries. A business graduate, he is the chairman of RTV and vice chairman of Desh General Insurance Company Limited.