SEBL authorised capital to reach Tk 10b, full merchant banking by June
Monday, 27 April 2009
FE Report
Southeast Bank Ltd has decided to raise its authorised capital to Tk 10.00 billion from Tk 3.50 billion and approved 15 per cent cash and 20 per cent stock dividends for the year 2008.
The approvals came at the 4th Extra-Ordinary General Meeting (EGM) and 14th Annual General Meeting (AGM) of the bank respectively held at Bangladesh-China Friendship Conference Centre in the city Sunday.
Southeast Bank Chairman Alamgir Kabir presided over the meetings, says a press release.
Vice Chairman Ragib Ali, directors MA Kashem, Azim Uddin Ahmed, Jusna Ara Kashem, Duluma Ahmed, Syed Shahid Ali, Sirat Monira, Abdul Hye, Dr Zaidi Sattar and AHM Moazzem Hossain, sponsors and a large number of shareholders attended the meetings.
Managing Director (Current Charge) MA Muhith, in his address of welcome, highlighted the bank's operational performance in 2008 and outlined the future plans programmes undertaken by the bank to boost up operational efficiency and profitability of the bank.
The EGM and AGM witnessed a lively discussion on the bank's operational performance. The bank earned operating profit of Tk 3.01 billion in 2008. The bank's total deposit amounted to Tk 68.71 billion, its total asset reached Tk 81.18 billion, earning per share (EPS) was Tk 31.11 and Capital and Reserves of the bank soared to a record high of Tk 7.65 billion at the end of 2008.
The chairman thanked and appreciated the shareholders for their continuous support and cooperation to the growth of the bank.
He mentioned about the bank's future plans that the bank will start full merchant banking operation in May or June 2009, float mutual fund of Tk 1.00 billion, increase non-fund income etc.
The bank maintained a capital adequacy ratio at 11.12 per cent at the end the same year against requirement of 10.00 per cent set by Bangladesh Bank. Credit Rating Information and Services Limited (CRISL) rated the bank A+ (Single A Plus) for the long term and ST-3 for the short term basing on the financial statements of the bank for the year 2008.
Southeast Bank Ltd has decided to raise its authorised capital to Tk 10.00 billion from Tk 3.50 billion and approved 15 per cent cash and 20 per cent stock dividends for the year 2008.
The approvals came at the 4th Extra-Ordinary General Meeting (EGM) and 14th Annual General Meeting (AGM) of the bank respectively held at Bangladesh-China Friendship Conference Centre in the city Sunday.
Southeast Bank Chairman Alamgir Kabir presided over the meetings, says a press release.
Vice Chairman Ragib Ali, directors MA Kashem, Azim Uddin Ahmed, Jusna Ara Kashem, Duluma Ahmed, Syed Shahid Ali, Sirat Monira, Abdul Hye, Dr Zaidi Sattar and AHM Moazzem Hossain, sponsors and a large number of shareholders attended the meetings.
Managing Director (Current Charge) MA Muhith, in his address of welcome, highlighted the bank's operational performance in 2008 and outlined the future plans programmes undertaken by the bank to boost up operational efficiency and profitability of the bank.
The EGM and AGM witnessed a lively discussion on the bank's operational performance. The bank earned operating profit of Tk 3.01 billion in 2008. The bank's total deposit amounted to Tk 68.71 billion, its total asset reached Tk 81.18 billion, earning per share (EPS) was Tk 31.11 and Capital and Reserves of the bank soared to a record high of Tk 7.65 billion at the end of 2008.
The chairman thanked and appreciated the shareholders for their continuous support and cooperation to the growth of the bank.
He mentioned about the bank's future plans that the bank will start full merchant banking operation in May or June 2009, float mutual fund of Tk 1.00 billion, increase non-fund income etc.
The bank maintained a capital adequacy ratio at 11.12 per cent at the end the same year against requirement of 10.00 per cent set by Bangladesh Bank. Credit Rating Information and Services Limited (CRISL) rated the bank A+ (Single A Plus) for the long term and ST-3 for the short term basing on the financial statements of the bank for the year 2008.