Dutch-Bangla Bank holds its 25th AGM

ZOOMBANGLA DESK: Annual General Meeting (AGM) of Dutch-Bangla Bank Limited was held on April 26, 2021 at 10:00 a.m. through virtual platform under the Chairmanship of Sayem Ahmed, Chairman, the Board of Directors of the Bank. The Chairman welcomed the honorable Shareholders in the AGM.

A large number of Shareholders virtually participated in the AGM of the Bank. In the 25th AGM of the Bank, Shareholders approved 30% Dividend (i.e. 15% cash dividend and 15% Stock Dividend per share) for the year 2020.

The Audited Financial Statements of the Bank for the year ended December 31, 2020 were placed before the AGM. The shareholders made various observations and suggestions on performance of the Bank for the year 2020.

Total assets of the Bank as of 31 December, 2020 stood at Taka 472,355.4 million compared to Taka 390,362.0 million of 2019 registering a growth by Taka 82.0 million or 21.0%. Loans and Advances of the Bank stood at Taka 273,382.9 million at the end of 2020 a growth of 6.7% over Taka 256,239.7 million at the end of 2019. The deposits grew by Taka 60,451.8 million in 2020 from Taka 302,159.2 million to Taka 362,611.0 million showing a growth of 20.0%.

In 2020, profit before tax of the Bank stood at Taka 9,660.8 million compared to Taka 7,436.3 million in 2019. Profit after tax stood at Taka 5,498.7 million compared to Taka 4,341.4 million in 2019. During the year under review, earnings per share, attributable to shareholders, was Taka 10.00 compared to Taka 7.89 during the previous year. Capital to Risk-weighted Asset(s) Ratio (CRAR) under Basel III stood at 17.2% at the end of 2020 against the Bangladesh Bank’s minimum requirement of 12.50%.

The meeting approved the re-appointment of Abedur Rashid Khan as Director 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 2021.