NRBC Bank holds 10th AGM

The 10th Annual General Meeting (AGM) of NRBC Bank was held on Monday (19 June), chaired by SM Parvez Tamal, chairman of the bank, through virtual platform, with the participation of all directors, sponsors and shareholders, reads a press release.

Vice-Chairman Rafiqul Islam Mia Arzoo, Directors Mohammed Adnan Imam, AM Saidur Rahman, Mohammed Oliur Rahman, Loquit Ullah, Mohammed Nazim, AKM Mostafizur Rahman; Independent Directors Chief Air Marshal (Retd) Abu Esrar, Dr Khan Mohammad Abdul Mannan, Raad Mozib Lalon; MD and CEO Golam Awlia, DMD & CFO Harunur Rashid and Company Secretary Mohammad Ahsan Habib were also present virtually in the meeting.

In this AGM, the shareholders approved 12% of total dividend in which 7.50% is in cash for the year 2022. The meeting also approved the audited financial report of the previous year, the director's report, the election of new directors, and changing of the bank's name to 'NRBC Bank PLC'.

According to the financial report, the bank's assets have increased by 29% to Tk16,115 crore by the end of December 2022, compared to the previous year's Tk12,462 crore.

The loan portfolio has grown by 30%, reaching Tk13,617 crore from Tk10,489 crore. The bank's operating profit at the end of the year was Tk403 crore, and the net profit was Tk173 crore. Earnings per share have increased to Tk2.19. Additionally, the bank facilitated imports worth Tk3,602 crore, exports worth Tk3,373 crore, and remittances of Tk1,333 crore in the last year, adds the release.

Expressing gratitude to all the directors, shareholders, customers, and investors who participated in the AGM, Chairman SM Parvez Tamal stated that NRBC Bank is working for the socio-economic development of rural people.

"The bank's initiatives, such as microfinance programme has been highly acclaimed. So far, approximately 60,000 individuals have received loans on easy terms. Moreover, the bank has arranged loan facilities for young entrepreneurs under easy conditions. Over the past decade, NRBC bank has made significant contributions as a stakeholder in the country's socio-economic development. The bank has always stood by the people and has been recognised as a humane bank," he added.

Managing Director Golam Awlia mentioned that NRBC Bank has been operating with good governance, accountability, and cleanliness while working for the well-being of the people. The bank is not only investing in major industries but also supporting various small-scale ventures. He added that the bank's microcredit programme contributes to the development of the rural economy. Furthermore, through the Department of Youth Development, NRBC Bank provides loans to trained youths.