Rupali Bank AGM approves dividend
Friday, 20 May 2011
FE Report
The state owned Rupali Bank Limited has planned to open 108 new branches by this year with modern banking facilities to expedite banking business and better services to the customers. The Rupali Bank management disclosed this at the 25th annual general meeting (AGM) of the bank held at the Institution of Engineers in the city Thursday. "We have planned to increase our branches to 600 by this year from existing 492 and we hope 700 branches will be opened by next three years with modern banking facilities and better services to the customers," said chairman of the Board of Directors Dr. Ahmed Al-Kabir. "We want to lead the state-owned commercial banks to the topmost position in respect of delivery of technological and modern facilities," Mr. Kabir vowed. "We have also finalised a time-befitting human resources policy-2011 and already recruited 1,099 new officers under this plan to recast the manpower structure as well as branches," the chairman said. "To introduce modern banking system, we have plans to install ATM booths in 55 corporate branches within 2011 and to complete On-line banking operation in all branches within 2013," the Chairman added. Mr Kabir also informed that Rupali Bank will increase the number of Bank's own exchange houses in different countries including Middle East, set up Bank's booth at the international airports in Dhaka, Chittagong and Sylhet in order to offer facilities to the immigrants as well as buy and sell foreign currencies. Meanwhile, shareholders of Rupali Bank approved 10 per cent stock dividend for the year that ended December 31, 2010 as recommended by the board of directors. After 22 years, the state-owned Rupali Bank Limited, saw profit and gave 10 per cent stock dividend for its shareholders for the first time. "The Rupali Bank earned net profit after tax (audited) of Tk 600 million in 2010 after 22 years due to prudent guidance of the present board of directors," the Chairman added. He said in 2010, as many as 22 branches were in the red, however, he hoped that after 2011 there will be no losing branches.
The state owned Rupali Bank Limited has planned to open 108 new branches by this year with modern banking facilities to expedite banking business and better services to the customers. The Rupali Bank management disclosed this at the 25th annual general meeting (AGM) of the bank held at the Institution of Engineers in the city Thursday. "We have planned to increase our branches to 600 by this year from existing 492 and we hope 700 branches will be opened by next three years with modern banking facilities and better services to the customers," said chairman of the Board of Directors Dr. Ahmed Al-Kabir. "We want to lead the state-owned commercial banks to the topmost position in respect of delivery of technological and modern facilities," Mr. Kabir vowed. "We have also finalised a time-befitting human resources policy-2011 and already recruited 1,099 new officers under this plan to recast the manpower structure as well as branches," the chairman said. "To introduce modern banking system, we have plans to install ATM booths in 55 corporate branches within 2011 and to complete On-line banking operation in all branches within 2013," the Chairman added. Mr Kabir also informed that Rupali Bank will increase the number of Bank's own exchange houses in different countries including Middle East, set up Bank's booth at the international airports in Dhaka, Chittagong and Sylhet in order to offer facilities to the immigrants as well as buy and sell foreign currencies. Meanwhile, shareholders of Rupali Bank approved 10 per cent stock dividend for the year that ended December 31, 2010 as recommended by the board of directors. After 22 years, the state-owned Rupali Bank Limited, saw profit and gave 10 per cent stock dividend for its shareholders for the first time. "The Rupali Bank earned net profit after tax (audited) of Tk 600 million in 2010 after 22 years due to prudent guidance of the present board of directors," the Chairman added. He said in 2010, as many as 22 branches were in the red, however, he hoped that after 2011 there will be no losing branches.