MTB sees profit growth by 21pc
Tuesday, 29 March 2011
FE Report
The 13th Extraordinary General Meeting (EGM) and 12th Annual General Meeting (AGM) of Mutual Trust Bank Limited (MTB) were held Monday at the Bangabandhu International Conference Centre in the city. MTB Chairman Samson H. Chowdhury presided over both the meetings. Vice Chairman Dr. Arif Dowla, Founding Chairman Syed Manzur Elahi, Directors M. A. Rouf, Yasmeen Haque, Md. Abdul Malek, Md. Nasirullah, Md. Wakiluddin and Mahaboob Morshed Hassan were present at the meetings. Managing Director & CEO Anis A. Khan, Deputy Managing Director & Company Secretary Quamrul Islam Chowdhury, Deputy Managing Directors Hashem Chowdhury and Md. Ahsan-uz Zaman, senior MTB officials and a large number of the bank's shareholders attended the meetings. The MTB Chairman thanked the bank's customers, patrons, well-wishers, shareholders, regulators, directors and staff for the impulsive support extended in 2010. This enabled the bank to notch up a record year in its nearly 12 years of existence. A number of shareholders spoke at the meetings and appreciated MTB's performance during the year. The Managing Director & CEO replied to the queries raised by the shareholders. The 12th AGM approved 20% stock dividend for 2010. The year 2010 witnessed a comfortable profit growth by 21%, while profit after tax showed a sustainable 27% growth compared to 2009. The bank's balance-sheet footing increased by over 11%, as at the end of 2010, compared to the previous year. The Capital Adequacy Ratio (CAR) increased to 11.49%, which is substantially higher than the required rate of 9%. Last year, the bank launched a number of products which include MTB Senior, MTB Inspire, Personal loan, Auto Loan, Home Loan and Home Equity Loan; opened 23 bank branches, one booth and eight (8) MTB Securities branches. The stock brokerage function was separated by floating MTB's fully owned company named MTB Securities Ltd. (MTBSL). MTB Corporate head office was shifted to an ecology friendly state-of-the-art building at Gulshan 1 in the city. As a part of corporate social responsibility, the bank sponsored a number of socio-cultural programs to promote education, healthcare and other humanitarian activities.
The 13th Extraordinary General Meeting (EGM) and 12th Annual General Meeting (AGM) of Mutual Trust Bank Limited (MTB) were held Monday at the Bangabandhu International Conference Centre in the city. MTB Chairman Samson H. Chowdhury presided over both the meetings. Vice Chairman Dr. Arif Dowla, Founding Chairman Syed Manzur Elahi, Directors M. A. Rouf, Yasmeen Haque, Md. Abdul Malek, Md. Nasirullah, Md. Wakiluddin and Mahaboob Morshed Hassan were present at the meetings. Managing Director & CEO Anis A. Khan, Deputy Managing Director & Company Secretary Quamrul Islam Chowdhury, Deputy Managing Directors Hashem Chowdhury and Md. Ahsan-uz Zaman, senior MTB officials and a large number of the bank's shareholders attended the meetings. The MTB Chairman thanked the bank's customers, patrons, well-wishers, shareholders, regulators, directors and staff for the impulsive support extended in 2010. This enabled the bank to notch up a record year in its nearly 12 years of existence. A number of shareholders spoke at the meetings and appreciated MTB's performance during the year. The Managing Director & CEO replied to the queries raised by the shareholders. The 12th AGM approved 20% stock dividend for 2010. The year 2010 witnessed a comfortable profit growth by 21%, while profit after tax showed a sustainable 27% growth compared to 2009. The bank's balance-sheet footing increased by over 11%, as at the end of 2010, compared to the previous year. The Capital Adequacy Ratio (CAR) increased to 11.49%, which is substantially higher than the required rate of 9%. Last year, the bank launched a number of products which include MTB Senior, MTB Inspire, Personal loan, Auto Loan, Home Loan and Home Equity Loan; opened 23 bank branches, one booth and eight (8) MTB Securities branches. The stock brokerage function was separated by floating MTB's fully owned company named MTB Securities Ltd. (MTBSL). MTB Corporate head office was shifted to an ecology friendly state-of-the-art building at Gulshan 1 in the city. As a part of corporate social responsibility, the bank sponsored a number of socio-cultural programs to promote education, healthcare and other humanitarian activities.