SABINCO earns Tk 332.47m profit in 2017

The Saudi-Bangladesh Industrial and Agricultural Investment Company Limited (SABINCO) logged a profit of Tk 332.47 million (Tk 33 crore 24 lakh 70 thousand) in the last year.

The non-banking financial institution (NBFI) of the country disclosed this at its 34th annual general meeting (AGM) in the capital recently.

The meeting, held on June 23, 2018, at SABINCO's headquarters, approved Tk 260 million (Tk 26 crore) as cash dividend for its shareholders for the year that ended on December 31, 2017.

Chairman of the company, Ahmed M. Al-Ghannam, presided over the AGM, according to a statement.

The statement said, the meeting reviewed the operational performance, accounts and investment portfolio of the Dhaka-based joint venture industrial finance and investment company.

Additional Secretary, Financial Institutions Division, the Ministry of Finance of the government of Bangladesh, Salma Nasreen, and Investment Officer, Public Investment Fund of the government of the Kingdom of Saudi Arabia, Saleh A. Al-Sheikh, represented the respective shareholders at the meeting.

Secretary of Finance Division (Deputy Chairman), Mohammad Muslim Chowdhury, Secretary, Economic Relations Division of the Ministry of Finance, Kazi Shofiqul Azam and Secretary, In-charge, Prime Minister's Office, Sajjadul Hassan, represented the Bangladesh government at the meeting.

Saudi Public Investment Fund's Investment Officer Saleh A. Al-Sheikh represented the Saudi government at the meeting.

Besides, Managing Director Quazi Shairul Hassan and other members of the board of SABINCO were also present.