POST TIME: 13 August, 2020 08:24:21 PM
City Bank holds 37th AGM in digital platform
Staff Reporter, Dhaka

City Bank holds 37th AGM in digital platform

The 37th annual general meeting (AGM) of City Bank was held on Thursday through virtual platform. 

Aziz Al Kaiser, chairman of the bank, presided over the meeting, according to a press statement. 

The audited financial statements of the bank for the year ended December 31, 2019 were placed before the AGM and a number of Shareholders discussed the performance of the bank. 

Following the board of directors’ recommendation, 15 per cent cash dividend has been declared. It was approved by the shareholders.
Total assets of the bank as of December 31, 2019 stood at Tk 35,468.90 crore compared to Tk 32,478.03 crore of 2018, registering a growth by Tk 2,990.87 crore or 9.21 per cent. 

Loans and advances of the bank stood at Tk 24,694.37 crore at the end of 2019, a growth of 6.72 per cent over Tk 23,139.15 crore at the end of 2018. 

The deposits grew by Tk 4,153.35 crore in 2019 from Tk 20,517.02 crore to Tk 24,670.37 crore showing a growth of 20.24 per cent in 2019. Profit after tax (PAT) stood at Tk 247.16 crore compared to Tk 201.79 crore in 2018. During the year under review, earnings per share, attributable to shareholders, was Tk 2.43 compared to Tk 1.99 during the previous year.

Mashrur Arefin, managing director and CEO of the bank, stated in his speech about the wholesome approach of City Bank to serve the lives and financial purposes of people from all the sectors and spheres of societies. He appraised the diversity it brought to the bank’s functionality in total, the statement said.

Vice Chairman Hossain Khaled, Directors-- Tabassum Kaiser, Savera H Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Rafiqul Islam Khan, Syeda Shaireen Aziz, Savera H Mahmood, Independent Directors -- Farooq Sobhan, Selim Additional Managing Director Sheikh

Mohammad Maroof and large number of shareholders and the bank’s senior officials also attended the meeting on virtual platform.