SABINCO earns pre-tax profit of Tk 630.88 million

SABINCO at its 30th Annual General Meeting (AGM) held recently declared Taka 280 million as cash dividend. SABINCO is a joint venture financial institution equally owned by the Governments of Bangladesh and the Kingdom of Saudi Arabia. Chairman of the Company Mr. Ahmed M. Al-Ghannam presided over the AGM. The AGM was informed that the Company had earned a pre-tax profit of Tk.630.88 million in the year 2013.

Mr. Saleh Abdulaziz Alsheikh, Financial Analyst (PIF), Ministry of Finance, Kingdom of Saudi Arabia and Mr. Amalendu Mukhergee, Additional Secretary, Bank and Financial Institutions Division, Ministry of Finance, Government of Bangladesh represented the respective shareholders at the meeting.

Other members of the Board of SABINCO are, Mr. Fazle Kabir, Secretary, Finance Division (Deputy Chairman), Mr. Mohammad Mejbahuddin, Secretary, Economic Relations Division, Ministry of Finance and Mr. Abdul Malek, Additional Secretary and Private Secretary-1 to the Prime Minister representing the Government of Bangladesh, & Mr. Talib A. Al-Ghanmi, Assistant Deputy Minister for Revenue Affairs and Mr. Suliman M. Al-Mugairin, Financial Analyst representing the Saudi Government. Mr. Quazi Shairul Hassan, Managing Director and other senior members of the management were also present at the meeting.

The meeting reviewed the operational performance, accounts and investment portfolio of the Company for the year that ended on December 31, 2013. During this period the Company made fresh commitment of Taka 1640 million in 9 (nine) new projects in various sectors, said a statement.