24th Annual General Meeting (AGM)
The 24th Annual General Meeting (AGM) of Dutch-Bangla Bank Limited was held on July 08, 2020 at 11:00 a.m. through virtual platform under the Chairmanship of Mr. Sayem Ahmed, Chairman, the Board of Directors of the Bank. The Chairman welcomed the honorable Shareholders in the AGM.
Despite of Covid-19, a large number of Shareholders virtually participated in the AGM of the Bank. In the 24th AGM of the Bank, Shareholders approved 25% Dividend (i.e. 15% cash dividend and 10% Stock Dividend per share) for the year 2019.
The Audited Financial Statements for the Bank for the year ended December 31, 2019 were placed before the AGM and a number of Shareholders discussed the performance of the Bank. The shareholders made various observations and suggestions on performance of the Bank for the year 2019.
Total assets of the Bank as of 31 December, 2019 stood at Taka 390,362.0 million compared to Taka 346,468.8 million of 2018 registering a growth by Taka 43,893.3 million or 12.7%. Loans and Advances of the Bank stood at Taka 256,239.7 million at the end of 2019, a growth of 10.7% over Taka 231,553.9 million at the end of 2018. The deposits grew by Taka 39,691.5 million in 2019 from Taka 262,467.7 million to Taka 302,159.2 million showing a growth of 15.1%.
In 2019, profit before tax of the Bank stood at Taka 7,436.3 million compared to Taka 6,763.6 million in 2018. Profit after tax stood at Taka 4,341.4 million compared to Taka 4,201.4 million in 2018. During the year under review, earnings per share, attributable to shareholders, was Taka 8.7 compared to Taka 8.4 during the previous year. Capital to Risk-weighted Asset(s) Ratio (CRAR) under Basel III stood at 15.5% at the end of 2019 against the Bangladesh Bank minimum requirement of 12.50%.
The meeting approved the re-appointment of Mr. Sayem Ahmed, Mr. Abedur Rashid Khan and Ms. Tang Yuen Ha Ada as Directors of the Bank and also approved the appointments of Mr. Ekramul Haq, FCA and Mr. Mohammed Salim, FCMA, CPFA as Independent Directors of the Bank.
The meeting also unanimously re-appointed M/s. Hoda Vasi Chowdhury & Co., Chartered Accountants as the external auditor of the Bank and M/s. A. Qasem & Co. as Corporate Governance Compliance Auditor of the Bank for the year 2020.