Following the Board of Directors’ recommendation, City Bank on Sunday declared 12.50 percent cash and 12.50 percent stock dividends for its shareholders for the year 2021.
The approval came at the 39th Annual General Meeting (AGM) of City Bank, held through a virtual platform.
Aziz Al Kaiser, Chairman of the Bank, presided over the meeting, said a press release.
In his welcome speech, Kaiser mentioned the bank’s strategy, as manifested in the several transformation initiatives of the year 2021.
He informed that, Profit After Tax of the bank in 2021 increased by Tk 73 crore or 18.2 percent from 2021 and stood at Tk 474 crore. As a result, return on equity increased to 15.8 percent in 2021 from 14.8 percent in 2020. The Audited Financial Statements for the Bank for the year ended December 31, 2021 were placed before the AGM and a number of shareholders discussed the performance of the Bank. The shareholders made various observations and suggestions on performance of the Bank for the year 2021.
Managing Director & CEO, Mashrur Arefin talked in his speech about the growth trajectory of the bank, its core strategies and its need for higher capital adequacy to support of that growth.
The shareholders also asked various questions regarding the bank’s progress and performance, and these questions were answered in detail by the chairman and MD & CEO.
Vice Chairman Hossain Khaled; Directors: Tabassum Kaiser, Savera H. Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Syeda Shaireen Aziz, Rebecca Brosnan, Independent Director Dr Salim Mahmud, MD & CEO Mashrur Arefin, Additional MD & CFO Md Mahbubur Rahman and large number of shareholders and the bank’s senior officials also attended the meeting on virtual platform.
