NRBC Bank shareholders approve 12.5% dividend

The shareholders of NRBC Bank Limited have approved a 12.5% dividend for 2020 at the 8th Annual General Meeting (AGM) held on Saturday. 

Of the figures, 5% for stock and 7.5% for cash dividend were approved at the meeting presided over by SM Parvez Tamal, chairman of the Board of Directors, reads a press release.

Apart from that, adoption and approval of last year's Financial Statements, retirement and reelection of 4 directors and other agendas were also approved in the AGM by the votes of the shareholders. 

NRBC Bank experienced tremendous growth in all financial parameters in 2020 amid Corona Virus pandemic situation. Bank's deposit increased by 25% from Tk7,185 crore to Tk9,017 crore in December 2020. Loans increased by 20.67%. 

At the end of last year, the amount of debt stood at  Tk7,483 crore; last year it was 6,201 crore. Net profit has increased from Tk114 crore to Tk134 crore. Earnings per share stood at Tk2.31. 

The bank's NPL rate is only 2.93%. The bank has shown financial strength by saving 12.52% of its capital adequacy Ratio (CAR). 

The meeting conducted by Company Secretary Md Mozammel Hossain was attended by all directors, sponsors, a large number of shareholders, managing director & CEO Golam Awlia  and external auditor of the bank. 

Chairman S M Parvez Tamal presented the Annual Report 2020 of the bank and Directors Report before the shareholders. 

Shakib Al Hasan, number one all-rounder of the world, also attended the meeting as a distinguished shareholder of this bank.