Dutch-Bangla Bank holds 20th AGM (Annual General Meeting)

The 20th Annual General Meeting (AGM) of Dutch-Bangla Bank Limited was held on March 30, 2016 at Pan Pacific Sonargaon Hotel, Dhaka under the Chairmanship of Mr. Sayem Ahmed, Chairman, the Board of Directors of the Bank. The honorable Chairman welcomed the honorable Shareholders’ present in the AGM.

The Bank declared Cash Dividend @ 40% (i.e. Taka 4 per share of Taka 10 each). A huge number of Shareholders attended the AGM of the Bank.

Among others, honorable Directors of the Board including Mr. Abedur Rashid Khan (Chairman, Executive Committee of the Board of Directors), Mr. Md. Fakhrul Islam, Mr. Md. Nazim Uddin Bhuiyan, FCMA (Chairman, Audit Committee of the Board of Directors), Mr. Mohd. Khorshed Alam, the Managing Director of the Bank Mr. K. S. Tabrez and Company Secretary Mr. Md. Monirul Alam, FCS attended the meeting. Mr. M. Sahabuddin Ahmed, Founder of Dutch-Bangla Bank & Chairman of Dutch-Bangla Bank Foundation was also present in the AGM.

The Audited Financial Statements of the Bank for the year ended December 31, 2015 were placed before the AGM and a number of Shareholders discussed the performance of the Bank. The honorable members expressed their satisfaction with the progress of the Bank during the year 2015.

Total assets of the Bank as at 31 December 2015 stood at Taka 244,057.6 million compared to Taka 215,993.5 million of 2014 registering a growth by Taka 28,064.1 million or 13.0%. Loans and advances of the Bank stood at Taka 152,270.0 million at the end of 2015, a growth of 22.4% over Taka 124,423.0 million at the end of 2014. The deposits grew by Taka 20,002.7 million in 2015 from Taka 166,762.3 million to Taka 186,765.0 million showing a growth of 12.0%.

In 2015, profit before tax increased by 38.7% and stood at Taka 6,267.3 million compared to Taka 4,518.8 million in 2014. Profit after tax increased by 36.9% and stood at Taka 3,020.3 million compared to Taka 2,206.6 million in 2014. During the year under review, earnings per share attributable to shareholders amounted to Taka 15.10 compared to Taka 11.0 during the previous year. Capital to Risk-weighted Asset Ratio (CRAR) under Basel III stood at 13.7% against the Bangladesh Bank minimum requirement of 10.0%.

The meeting unanimously appointed M/s. A. Qasem & Co. as the external auditor of the Bank for the year 2016.