Shareholders approve 15% dividend at NRBC Bank’s 9th AGM

NRBC Bank Ltd has held its 9th Annual General Meeting (AGM) Thursday (2 June) morning virtually. SM Parvez Tamal, chairman of the Board of Directors presided over the meeting.

All Directors, Sponsors, a large number of shareholders and External Auditor of the bank attended the meeting on virtual platform, reads a press release.

The bank's Vice-Chairman Rafikul Islam Mia Arzoo, Directors Mohammed Adnan Imam, AM Saidur Rahman, Mohammed Oliur Rahman, Abu Bakr Chowdhury, Loquit Ullah, Mohammed Nazim, AKM Mostafizur Rahman; Independent Directors Air Chief Marshal Abu Esrar (Retd), Dr Khan Mohammad Abdul Mannan and Raad Mozib Lalon; Managing Director & CEO Golam Awlia, AMD Kazi Md Talha, DMD & CFO Harunur Rashid and Company Secretary Md Reaz Uddin Asif attended the meeting.

Bank's Chairman Parvez Tamal presented the Annual Report 2021 of the bank and Directors Report before the shareholders.

Addressing the AGM, the bank's chairman expressed his gratitude to the shareholders, customers, stakeholders and management for their continuous support to the company.

"NRBC Bank is working for the people of the rural area. The bank has been disbursing loans without mortgage through branches and sub-branches for the betterment of marginalised people observing all compliances," he said, adding that more than Tk1000 crore of loan among some 26,000 people have been distributed under microcredit.

"Prime Minister Sheikh Hasina is working to implement 'Sonar Bangla' the dream of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. We are connected to the various development works of the government. We hope, NRBC Bank will become a trusted partner of the people. We are working towards that goal through good governance and accountability by using technology," he further stated.

Managing Director of NRBC Golam Awlia said, "NRBC Bank, the dream of expatriate entrepreneurs has now become a bank for rural people. It is a bank of development and government partnership. NRBC Bank is working to create employment and new entrepreneurs through financing." 

The shareholders present in the AGM unanimously approved all agenda including 7.5% stock and 7.5% cash dividend for the year 2021.

According to the Audited Financial statement, NRBC Bank experienced tremendous growth in all financial parameters in 2021 amid coronavirus pandemic situation and others global crises.

The bank has gone for expansion of network and banking services during the pandemic.

Emphasis was given on disbursement of loans and advances in Islamic banking and microcredit beside the conventional banking.

As a result, the total loan disbursement has increased 40.17%.

The total loans disbursed as of December 2021 is Tk10,490 crore which was Tk7,483 crore at the same time of last year.

Besides, the deposit collection has increased 27% and the present deposit of the bank stands at Tk12,082 crore.

NRBC Bank's net profit after tax stood Tk208 crore at the end of December 2021, during the same period in 2020, its net profit was Tk134 crore.

The consolidated Earnings Per Share (EPS) of the bank rose to Tk2.83 in 2021 from Tk2.31 in 2020.