Prime Bank approves 25pc stock dividend
Tuesday, 31 March 2009
FE Report
Prime Bank Limited approved 25 per cent stock dividend (one bonus share for every four ordinary shares) for its shareholders for the year 2008 along with financial statement of the bank for the same period.
The approval came at the 14th annual general meeting (AGM) of the bank at the Bangladesh-China Friendship Conference Centre in the city Monday, said a press release.
Prime Bank Board of Directors Chairman Azam J Chowdhury presided over the meeting.
Also present in the AGM were Prime Bank Vice-Chairperson Shahnaz Quashem, Executive Committee Chairman Md Aminul Haque, Audit Committee Chairman Imam Anwar Hossain, directors Qazi Saleemul Huq, Ferdousi Islam, Nafis Sikder, Shaheda Pervin Trisha, Mohammad Delwar Hossain and Maksudur Rahman Sarkar, Managing Director M Ehsanul Haque, Additional Managing Director Mahbubul Alam, DMDs Md Mehmood Husain, Ahmed Kamal Khan Chowdhury, M Reazul Karim and Isbahul Bar Chowdhury.
Senior Executive Vice-President (SEVP) and Company Secretary of the bank conducted the meeting.
Prime Bank board of directors chairman thanked the shareholders for their continuous support and confidence shown on the bank.
The chairman informed that the bank continued to remain strong in all key areas of capital adequacy, asset quality, earning and liquidity.
He said that the bank made satisfactory progress in all areas of its operations in the last year.
Prime Bank earned net profit after tax (audited) of Tk 1.23 billion (123 crore) in the year.
The bank's deposit rose to Tk 88.02 billion at the end of 2008 as against Tk 70.51 billion in 2007 registering a growth of 25 per cent, while loan portfolio increased to Tk 75.16 billion in the year that ended on December 31, 2008 from Tk 57.68 billion in 2007 registering 30 per cent growth.
The bank's foreign exchange business volume also increased by 33 per cent to reach Tk 182.64 billion as on December 31, 2008 from Tk 137.84 billion in the corresponding year. Capital adequacy ratio of the bank stood at 10.88 per cent against the statutory requirement of 10 per cent at the balance sheet date.
The bank's ratio of non-performing loans to total credit also remained in comfortable position at 1.76 per cent in the year 2008. Its return on asset was 1.30 per cent.
A good number of shareholders took part in the discussion on the financial statement, and they passed all the agenda unanimously.
Prime Bank Limited approved 25 per cent stock dividend (one bonus share for every four ordinary shares) for its shareholders for the year 2008 along with financial statement of the bank for the same period.
The approval came at the 14th annual general meeting (AGM) of the bank at the Bangladesh-China Friendship Conference Centre in the city Monday, said a press release.
Prime Bank Board of Directors Chairman Azam J Chowdhury presided over the meeting.
Also present in the AGM were Prime Bank Vice-Chairperson Shahnaz Quashem, Executive Committee Chairman Md Aminul Haque, Audit Committee Chairman Imam Anwar Hossain, directors Qazi Saleemul Huq, Ferdousi Islam, Nafis Sikder, Shaheda Pervin Trisha, Mohammad Delwar Hossain and Maksudur Rahman Sarkar, Managing Director M Ehsanul Haque, Additional Managing Director Mahbubul Alam, DMDs Md Mehmood Husain, Ahmed Kamal Khan Chowdhury, M Reazul Karim and Isbahul Bar Chowdhury.
Senior Executive Vice-President (SEVP) and Company Secretary of the bank conducted the meeting.
Prime Bank board of directors chairman thanked the shareholders for their continuous support and confidence shown on the bank.
The chairman informed that the bank continued to remain strong in all key areas of capital adequacy, asset quality, earning and liquidity.
He said that the bank made satisfactory progress in all areas of its operations in the last year.
Prime Bank earned net profit after tax (audited) of Tk 1.23 billion (123 crore) in the year.
The bank's deposit rose to Tk 88.02 billion at the end of 2008 as against Tk 70.51 billion in 2007 registering a growth of 25 per cent, while loan portfolio increased to Tk 75.16 billion in the year that ended on December 31, 2008 from Tk 57.68 billion in 2007 registering 30 per cent growth.
The bank's foreign exchange business volume also increased by 33 per cent to reach Tk 182.64 billion as on December 31, 2008 from Tk 137.84 billion in the corresponding year. Capital adequacy ratio of the bank stood at 10.88 per cent against the statutory requirement of 10 per cent at the balance sheet date.
The bank's ratio of non-performing loans to total credit also remained in comfortable position at 1.76 per cent in the year 2008. Its return on asset was 1.30 per cent.
A good number of shareholders took part in the discussion on the financial statement, and they passed all the agenda unanimously.