NRBC Bank Approved 12.50 percent dividend

Sunbd Desk || Published: 2021-06-26 11:56:14 || Updated: 2021-06-26 11:56:14

The 8th Annual General Meeting (AGM) of NRB Commercial Bank (NRBC) has been held. At the meeting, the shareholders approved 12.50 percent dividend for 2020. Of this, cash dividend is 7.5 percent and stock dividend is 5 percent.

The meeting was held on Saturday (June 26) on an online platform to avoid health risks due to coronavirus infection. At the AGM, all agendas, including last year’s balance sheet, re-election of four directors, were approved by a vote of investors.

The annual general meeting, chaired by the bank’s chairman SM Parvez Tamal, was attended by top officials including all directors, entrepreneurs, shareholders and the bank’s managing director Golam Aulia. Shakib Al Hasan, the world’s number one all-rounder, the brightest star of Bangladesh cricket, took part in the general shareholders.

The meeting was informed that progress has been made in NRBC Bank financial indicators amid coronavirus infection. Bank deposits increased by 25 percent from Tk 7,185 crore to Tk 9,017 crore in December 2020. Loans increased by 20.67 percent. Last year, the last loan amount stood at Tk 7,483 crore; Last year it was 6 thousand 201 crore. Net profit has increased from Tk 114 crore to Tk 134 crore. Earnings per share stood at Tk 2.31.

The bank’s default rate is only 2.93 percent. The bank has shown financial strength by saving 12.52 percent of its capital. It was informed in the discussion at the AGM that the government should be a partner in all activities starting from revenue collection. NRBC Bank is lending people’s money to the people in an easy process. Microcredit schemes have been introduced for this purpose.

Under this scheme in partnership banking, loans will be given to 1 lakh marginalized people in the next one year. By investing the money in this loan, they can become self-reliant by arranging their own work. In addition to banking activities, NRBC Bank has earned the title of Humanitarian Bank by standing by the people affected by corona and distributing medicines to prevent the spread of corona, PPE, masks, hand sanitizers, hand gloves, cash distribution among the needy.

Sunbd/NJ

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