Chairman of Southeast Bank Limited Alamgir Kabir presiding over the 27th annual general meeting of the bank held virtually on Thursday. Managing Director M Kamal Hossain and other directors were also present. The 27th annual general meeting (AGM) of Southeast Bank Limited was held virtually on Thursday, with its Chairman Alamgir Kabir in the chair, says a statement.
The bank's Vice-Chairperson Duluma Ahmed, Directors Jusna Ara Kashem, Md Akikur Rahman, M Maniruz Zaman Khan (nominee of Bay Leasing & Investment Limited), Md Rafiqul Islam (nominee of Asia Insurance Limited), Anjuman Ara Shahid (nominee of Single Click IT Solution (Pvt.) Limited, Independent Directors Syed Sajedul Karim and Mohammad Delwar Husain joined the meeting.
Managing Director M Kamal Hossain and Company Secretary AKM Nazmul Haider also participated in the meeting.
The bank's sponsors and a large number of shareholders took part in the meeting.
At the beginning of the meeting, all the participants observed a one-minute silence to pay homage to Father of the Nation Bangabandhu Sheikh Mujibur Rahman, marking the 'National Mourning Day 2022'.
In his welcome address, Managing Director M Kamal Hossain highlighted the bank's operational performance in 2021 and outlined the future plans and strategies to further augment operational efficiency and asset quality of the bank.
The AGM witnessed a lively discussion on the bank's operational performance. The bank earned an operating profit of Tk 8,671.12 million in 2021 (consolidated).
As on December 31, 2021, the bank's total deposits amounted to Tk 376,700.77 million and its total assets reached Tk 495,841.96 million, earnings per share (EPS) was Tk 1.50 (consolidated), net asset value per share was Tk 25.22 (consolidated) and net operating cash flow per share was Tk 17.89 (consolidated).
The price earnings ratio of the bank was 10.75 times in 2021. The capital and reserves of the bank soared to a record high of Tk 41,327.07 million as on December 31, 2021.
Southeast Bank Limited is considered one of the most efficient banks in the industry in terms of cost efficiency. Its cost to income ratio stood at 40.90 per cent. The bank's per employee profit was Tk 0.59 million and per branch profit was Tk 12.70 million in 2021.
In the AGM, the shareholders unanimously approved 8 per cent cash dividend and 4 per cent stock dividend and the audited financial statements of the bank for the year 2021.
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