Dutch-Bangla Bank PLC holds 28th AGM

ZOOMBANGLA DESK : The 28th Annual General Meeting (AGM) of Dutch-Bangla Bank PLC was held on Sunday through virtual platform.

Ms. Sadia Rayen Ahmed, Chairman of Board of Directors of the Bank, presided over the AGM.

The Chairman welcomed honorable Shareholders in the AGM.

A large number of Shareholders virtually participated in the AGM of the Bank. In the 28th AGM of the Bank, Shareholders approved 35% Dividend (i.e 17.5% cash dividend and 17.5% Stock Dividend per share) for the year 2023.

The Audited Financial Statements of the Bank for the year ended December 31, 2023 were placed before the AGM. The shareholders approved the Financial Statements for the year 2023 and made various observations & suggestions on performance of the Bank.

Total assets of the Bank as of 31 December, 2023 stood at Taka 593,883.1 million compared to Taka 555,473.6 million of 2022 registering growth by Taka 38,409.5 million or 6.9%. Loans and Advances of the Bank stood at Taka 412,073.0 million at the end of 2023 with a growth of 13.2% over Taka 364,000.8 million at the end of 2022.

The deposits grew by Taka 34,458.8 million in 2023 from Taka 438,131.3 million to Taka 472,590.1 million showing a growth of 7.9%.

In 2023, profit before tax of the Bank stood at Taka 11,450.1 million compared to Taka 8,866.6 million in 2022. Profit after tax stood at Taka 8,017.4 million compared to Taka 5,661.7 million in 2022.

During the year under review, earnings per share, attributable to shareholders, was Taka 10.72 compared to Taka 7.57 (restated) during the previous year. Capital to Risk-weighted Asset(s) Ratio (CRAR) under Basel III stood at 16.16% at the end of 2023 against the Bangladesh Bank’s minimum requirement of 12.50%.

The meeting approved the re-appointment of Mr. Abedur Rashi-d Khan as Director of the Bank.

The meeting also re-appointed A. Qasem & Co., Chartered Accountants as the external auditor of the Bank and Hoda Vasi Chowdhury & Co., Chartered Accountants as Corporate Governance Compliance Auditor of the Bank for the year 2024.

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