DBBL recommends 40pc cash dividend

Dutch-Bangla Bank Limited (DBBL) has declared 40 per cent cash dividend (i.e. Taka 4 per share of Taka 10 each) for the General Public Shareholders and Foreign Sponsors/ Shareholders for the year 2013. This was disclosed at the 18th Annual General Meeting (AGM) of the bank held on Sunday (March 30, 2014) at Officers Club, Baily Road, in the capital under the Chairmanship of Abedur Rashid Khan, Chairman, the Board of Directors of the Bank.

PictureThe Chairman welcomed the honorable Members present in the AGM. A good number of members participated in the discussion on the overall performance of the Bank in the AGM.

Among others, Directors of the Board including Sayem Ahmed (Chairman, Executive Committee of the Board), Md. Fakhrul Islam, Dr. Irshad Kamal Khan, Chowdhury M. Ashraf Hossain, Md. Yeasin Ali, the Managing Director of the Bank K. S. Tabrez and Company Secretary Md. Monirul Alam, FCS were present in the AGM. 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 shareholders also praised the Bank Authority for declaring highest cash dividend of 40 per cent for 2013 within all listed banking companies.  The Local Sponsors of the Bank will not receive any dividend.

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 per cent from Tk. 91,648.9 million in 2012 to Tk.106,422.8 million in 2013 and foreign-trade business increased by 6.2 per cent.

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 per cent, as against 12per cent in 2012, that was well above 10.0 per cent 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.