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Southeast Bank approves 7.5pc cash, 2.5pc stock dividend

September 17, 2020 00:00:00

Alamgir Kabir, FCA, Chairman, Southeast Bank Limited, conducting the 25th Annual General Meeting of the bank by using a digital platform on Wednesday where M. Kamal Hossain, Managing Director of the bank, was present.

The 25th annual general meeting (AGM) of Southeast Bank Limited was held on Wednesday virtually by using a digital platform.

In the AGM, the shareholders approved 7.5 per cent cash dividend and 2.5 per cent stock dividend and the audited financial statements of the bank for the year 2019, said a statement.

Alamgir Kabir, FCA, Chairman of the bank, presided over the meeting. The bank's Vice-Chairperson Duluma Ahmed, directors M. A. Kashem, Azim Uddin Ahmed, Jusna Ara Kashem, Rehana Rahman, Md. Akikur Rahman and Independent Directors Syed Sajedul Karim, Dr. Quazi Mesbahuddin Ahmed, Mohammad Delwar Husain, Managing Director M. Kamal Hossain and bank's Advisor Zakir Ahmed Khan participated in the meeting virtually via link. Bank's sponsors and a large number of shareholders took part in the meeting through digital platform.

The AGM witnessed a lively discussion on the bank's operational performance. The bank earned an operating profit of BDT 8,982.98 million in 2019 (consolidated). As on 31st December, 2019 Bank's total deposits amounted to BDT329,250.27 million and its total assets reached BDT422,312.71million, Earning Per Share (EPS) was BDT2.16(consolidated),Net Asset Value per share was BDT26.29(consolidated) and Net Operating Cash Flow per share was BDT11.68(consolidated). The Price Earnings Ratio of the Bank was 6.16 times in 2019. The Capital and Reserves of the Bank soared to a record high of BDT36,093.33 million as on 31st December 2019. Southeast Bank is considered as one of the most efficient Banks in the industry in terms of cost efficiency. Its cost to income ratio stood at 37.58%. Bank's per employee profit was BDT 0.87 million and per Branch profit was BDT 18.58 million in 2019.

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