NRBC Bank approves 12.5pc dividend

The 8th Annual General Meeting (AGM) of NRBC Bank Limited was held on Saturday on a digital platform.

S. M. Parvez Tamal, Chairman of the board of directors, presided over the meeting. All directors, sponsors, a large number of shareholders, Managing Director & CEO Golam Awlia and External Auditor of the bank attended the meeting on virtual platform. Company Secretary Md. Mozammel Hossain conducted the meeting.

Chairman S M Parvez Tamal presented the Annual Report 2020 of the bank and directors report before the shareholders. Shakib Al Hasan, number one all-rounder of the world, also attended the meeting as a distinguished shareholder of this bank, said a statement.

The shareholders present in the AGM approved 12.5 per cent consisting of 5 per cent stock and 7.5 per cent cash dividend for the year ended 2020.

Apart from that, adoption and approval of last year's Financial Statements, retirement and reelection of 04 directors and other agenda were also approved in the AGM by the votes of the shareholders.

NRBC Bank experienced tremendous growth in all financial parameters in 2020 amid Corona Virus pandemic situation. Bank's deposit increased by 25 per cent from Tk 71.85 billion to Tk 90.17 billion in December 2020. Loans increased by 20.67 per cent. At the end of last year, the amount of debt stood at Tk 74.83 billion; last year it was 62.01 billion. Net profit has increased from Tk 1.14 billion to Tk. 1.34 billion. Earnings per share stood at Tk 2.31.

The bank's NPL rate is only 2.93 per cent. The bank has shown financial strength by saving 12.52 per cent of its capital adequacy Ratio (CAR) . It was informed in the discussion of the AGM that NRBC Bank is a strong partner of the government for revenue collection. NRBC Bank is lending money to the people in an easy process.

Microcredit schemes have been introduced for this purpose. Under this scheme in partnership banking, loans will be given to 0.1 million marginalized people in the next one year by they will be able to become self-reliant by arranging their own work. In addition to the banking activities, the bank has stood beside Corona affected people.

NRBC Bank has been termed as 'Humanitarian Bank' for its various activities including distribution of medicines, PPE, masks, hand sanitizers, hand gloves and distribution of cash among the destitute people.