Dutch-Bangla Bank holds 18th AGM (Annual General Meeting)

The 18th Annual General Meeting (AGM) of Dutch-Bangla Bank Limited was held on March 30, 2014 at Officers Club, Baily Road, Dhaka under the Chairmanship of Mr. Abedur Rashid Khan, Chairman, the Board of Directors of the Bank. The honorable Chairman welcomed the honorable Members present in the AGM.

The bank declared Cash Dividend @ 40% (i.e. Taka 4 per share of Taka 10 each) for the General Public Shareholders and Foreign Sponsors/ Shareholders for the year 2013. The Local Sponsors of the Bank will not receive any dividend. A good number of members participated in the discussion on the overall performance of the Bank in the AGM.

Among others, honorable Directors of the Board including Mr. Sayem Ahmed (Chairman, Executive Committee of the Board), Mr. Md. Fakhrul Islam, Dr. Irshad Kamal Khan, Mr. Chowdhury M. Ashraf Hossain, Mr. Md. Yeasin Ali, the Managing Director of the Bank Mr. K. S. Tabrez and Company Secretary Mr. Md. Monirul Alam, FCS were present in the AGM. Mr. M. Sahabuddin Ahmed, Founder of Dutch-Bangla Bank & Chairman of Dutch-Bangla Bank Foundation was also present in the meeting.
The Financial Statements of the Bank for the year ended December 31, 2013 were placed before the meeting and the members made a critical review of the performance of the Bank. The honorable members expressed their satisfaction with the activities of the Bank during the year 2013.
The honourable Shareholders also praised the Bank Authority for declaring highest cash dividend of 40% for 2013 within all listed banking companies.

The deposit of the Bank increased by 15.8% from Tk.125,433.1 million in 2012 to Tk.145,230.1 million in 2013, while loans & advances increased by 16.1% from Tk. 91,648.9 million in 2012 to Tk.106,422.8 million in 2013 and foreign-trade business increased by 6.2%.
The Bank earned net profit after tax of Tk.2,000.8 million in 2013 as against Tk.2,314.1 million in 2012. Capital Adequacy Ratio stood at 13.7%, as against 12% in 2012, that was well above 10.0% minimum regulatory requirement as per Basel-II.

The meeting unanimously reappointed M/s. Hoda Vasi Chowdhury & Co. as the auditor of the Bank for the year 2014.