Dutch-Bangla Bank profits jumps 42%, reaches Tk801cr in 2023
Stocks
The Dutch-Bangla Bank achieved a record profit in 2023, surpassing the Tk800 crore mark for the first time in its history.
According to a statement published on the bank's website, the private sector lender posted a profit of Tk801 crore last year, marking a significant growth of 42% compared to the previous year.
Its earnings per share stood at Tk10.72 in 2023, which was Tk7.57 a year ago.
Moreover, the bank recommended a 17.50% cash dividend and a 17.50% stock dividend to its shareholders for the last year, which will be the highest payout in the last three years.
To approve the dividend and audited financial statement, the bank has scheduled its annual general meeting for 9 June, with the record date set for 9 May.
The bank in the statement said that stock dividend has been declared to increase the paid-up capital and also to comply with the Bangladesh Bank's circular regarding the maximum limit of declaration of dividend is 35% out of which cash dividend is a maximum 17.50%.
The retained amount will be used to strengthen the capital which helps to increase the business capacity of the bank, the statement added.
The bank's shares closed at Tk54.20 each at the Dhaka Stock Exchange on Wednesday.
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