MTB approves 20pc stock dividend for '09
Wednesday, 31 March 2010
FE Report
The 12th extraordinary general meeting (EGM) and the 11th annual general meeting (AGM) of Mutual Trust Bank Ltd (MTB) were held at Bangabandhu Interna-tional Conference Centre in the city Tuesday.
Chairman of the bank Samson H Chowdhury presided over both the meetings, said a press release.
Vice Chairman Dr Arif Dowla, Directors MA Rouf, Rashed Chowdhury, and Yasmeen Haque, alternate directors Khwaja Nargis Hossain and Md Nasirullah were present at the meetings.
Managing Director and CEO Anis A Khan, Deputy Managing Director and Company Secretary Quamrul Islam Chowdhury, senior MTB officials and a large number of shareholders attended the meetings.
The MTB chairman thanked the customers, patrons, well-wishers, shareholders, regulators, directors and staff for their spontaneous support they extended in the previous year as their inspiration enabled the bank to notch up a record year in its nearly 11 years of existence.
A number of shareholders spoke at the meetings and appreciated MTB's performance during the year.
The MD and CEO replied to the queries raised by the shareholders.
The AGM approved a 20 per cent stock dividend for 2009.
The shareholders also approved issuance of bonds to the extent of Tk 2.5 billion and increase of authorised capital from BDT 3.8 billion to Tk 10 billion.
The year of 2009 saw an impressive 36 per cent growth in MTB's operating profit.
During the year, the profit after tax (PAT) stood at Tk 821 million, showing a vigorous growth of 169 per cent over 2008.
Non performing loan (NPL) was 2.81 per cent, which was a great improvement from 4.92 per cent in 2008. Earnings per share (EPS) was Tk 46.46 in 2009, against Tk 17.27 in 2008.
Total assets of the bank were Tk 53 billion at the end of the year, which was 35 per cent higher than that in the previous year.
The bank's consolidated equity grew by a robust 48 per cent over 2008.
Last year, the bank launched a number of products that included MTB Krishi, MTB Green Energy Loan, MTB Revolving Loan, MTB Bhagyaboti, etc.
The bank also created a separate NRB division to focus on serving the emerging needs of the Non Resident Bangladeshis (NRBs).
As part of corporate social responsibility (CSR), the bank sponsored a number of socio-cultural programmes to promote education, healthcare and other humanitarian activities.
The 12th extraordinary general meeting (EGM) and the 11th annual general meeting (AGM) of Mutual Trust Bank Ltd (MTB) were held at Bangabandhu Interna-tional Conference Centre in the city Tuesday.
Chairman of the bank Samson H Chowdhury presided over both the meetings, said a press release.
Vice Chairman Dr Arif Dowla, Directors MA Rouf, Rashed Chowdhury, and Yasmeen Haque, alternate directors Khwaja Nargis Hossain and Md Nasirullah were present at the meetings.
Managing Director and CEO Anis A Khan, Deputy Managing Director and Company Secretary Quamrul Islam Chowdhury, senior MTB officials and a large number of shareholders attended the meetings.
The MTB chairman thanked the customers, patrons, well-wishers, shareholders, regulators, directors and staff for their spontaneous support they extended in the previous year as their inspiration enabled the bank to notch up a record year in its nearly 11 years of existence.
A number of shareholders spoke at the meetings and appreciated MTB's performance during the year.
The MD and CEO replied to the queries raised by the shareholders.
The AGM approved a 20 per cent stock dividend for 2009.
The shareholders also approved issuance of bonds to the extent of Tk 2.5 billion and increase of authorised capital from BDT 3.8 billion to Tk 10 billion.
The year of 2009 saw an impressive 36 per cent growth in MTB's operating profit.
During the year, the profit after tax (PAT) stood at Tk 821 million, showing a vigorous growth of 169 per cent over 2008.
Non performing loan (NPL) was 2.81 per cent, which was a great improvement from 4.92 per cent in 2008. Earnings per share (EPS) was Tk 46.46 in 2009, against Tk 17.27 in 2008.
Total assets of the bank were Tk 53 billion at the end of the year, which was 35 per cent higher than that in the previous year.
The bank's consolidated equity grew by a robust 48 per cent over 2008.
Last year, the bank launched a number of products that included MTB Krishi, MTB Green Energy Loan, MTB Revolving Loan, MTB Bhagyaboti, etc.
The bank also created a separate NRB division to focus on serving the emerging needs of the Non Resident Bangladeshis (NRBs).
As part of corporate social responsibility (CSR), the bank sponsored a number of socio-cultural programmes to promote education, healthcare and other humanitarian activities.