Premier Bank to raise authorised capital 3 fold
Tuesday, 21 April 2009
The 9th and 10th annual general meetings (AGM) of the Premier Bank Limited were held at the Bangladesh-China Friendship Conference Centre in the city Monday.
Chairman of the bank HBM Iqbal presided over the meeting.
The bank approved 7 per cent and 24 per cent stock dividends for the years 2007 and 2008 respectively as approved by Securites and Exchange Commission (SEC) and Bangladesh Bank.
Prior to holding the AGMs, the 5th extra ordinary general meeting (EGM) of the bank took place at the same venue. The EGM decided to increase the bank's authorised capital from Tk 2.0 billion to Tk 6.0 billion.
The chairman informed the shareholders that the bank earned operating profit of Tk 998.11 million in 2007 compared to 942.07 million in 2006 registering a growth of 5.95 per cent.
During the year 2008, the bank earned operating profit of Tk 1.27294 billion, which showed a growth of 27.54 per cent compared to previous 2007 year.
Total loans and advances stood at Tk 23.63761 billion at the end of 2007 against Tk 20.67768 billion in 2006 and total loans and advances stood at Tk 30.31953 billion at the end of 2008 against Tk 23.63761 billion in 2007 yielding a significant growth of 28.27 per cent.
After detailed review the shareholders approved the Financial Accounts and Directors' Reports.
Premier Bank Managing Director M Shah Alam Sarwar informed the shareholders that the bank has introduced some sophisticated and cell phone oriented products like Premier SMS and Premier CMS, first ever in the country and some liability products like Premier 50+ Account for elderly people and Premier Genius Account for the students.
Audit Committee Chairman Nawrin Iqbal, directors Abdus Salam Murshedy, Nurul Amin, Shafiqur Rahman, Shaila Shelly Khan, Md Lutfur Rahman and Md Masud Zaman, Independent Director Kazi Abdul Mazid, and Company Secretary Syed Ahsan Habib were also present on the occasion.
Chairman of the bank HBM Iqbal presided over the meeting.
The bank approved 7 per cent and 24 per cent stock dividends for the years 2007 and 2008 respectively as approved by Securites and Exchange Commission (SEC) and Bangladesh Bank.
Prior to holding the AGMs, the 5th extra ordinary general meeting (EGM) of the bank took place at the same venue. The EGM decided to increase the bank's authorised capital from Tk 2.0 billion to Tk 6.0 billion.
The chairman informed the shareholders that the bank earned operating profit of Tk 998.11 million in 2007 compared to 942.07 million in 2006 registering a growth of 5.95 per cent.
During the year 2008, the bank earned operating profit of Tk 1.27294 billion, which showed a growth of 27.54 per cent compared to previous 2007 year.
Total loans and advances stood at Tk 23.63761 billion at the end of 2007 against Tk 20.67768 billion in 2006 and total loans and advances stood at Tk 30.31953 billion at the end of 2008 against Tk 23.63761 billion in 2007 yielding a significant growth of 28.27 per cent.
After detailed review the shareholders approved the Financial Accounts and Directors' Reports.
Premier Bank Managing Director M Shah Alam Sarwar informed the shareholders that the bank has introduced some sophisticated and cell phone oriented products like Premier SMS and Premier CMS, first ever in the country and some liability products like Premier 50+ Account for elderly people and Premier Genius Account for the students.
Audit Committee Chairman Nawrin Iqbal, directors Abdus Salam Murshedy, Nurul Amin, Shafiqur Rahman, Shaila Shelly Khan, Md Lutfur Rahman and Md Masud Zaman, Independent Director Kazi Abdul Mazid, and Company Secretary Syed Ahsan Habib were also present on the occasion.