Brac Bank shareholders approve 15% dividend
The shareholders of Brac Bank Limited have approved a 15% dividend – 7.50% in the form of cash and 7.50% in stock – for the financial year 2021.
The approval came at the 23rd Annual General Meeting (AGM) held on virtual platform on 28 April 2022, said a press release.
Brac Bank Chairman Dr Ahsan H Mansur presided over the AGM and Acting Company Secretary M Mahbubur Rahman moderated the meeting.
The AGM was also attended by directors: Asif Saleh, Fahima Choudhury, Farzana Ahmed, Dr Zahid Hussain, Meheriar M Hasan, Shameran Abed, Dr Mustafa K Mujeri, Faruq Mayeenuddin Ahmed, and Salek Ahmed Abul Masrur.
A significant number of shareholders participated in the AGM.
The bank's Managing Director and CEO Selim RF Hussain responded to the shareholders' queries and thanked them for their unwavering trust in the bank.
The shareholders were informed that the bank registered a Net Profit After-Tax (NPAT) of Tk555 crore with a growth of 22% compared to NPAT in 2020 on standalone basis. Consolidated financials reflected an NPAT of Tk465 crore with year-on-year (YoY) growth of 15%.
In his remarks, Dr Ahsan H Mansur highlighted the bank's outstanding financial performance despite the challenges of the prolonged pandemic.
He stated that the bank was on its path to recovery thanks to the employees' hard work and the continuous trust of the valued customers and shareholders, and digital channels to cater to the customers.
The chairman thanked the shareholders, regulators, employees, and stakeholders for their continuous support during an unprecedented crisis.
Dr Ahsan H Mansur expressed his strong optimism that the bank would achieve exponential growth in 2022 and beyond.
