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16 September, 2020 07:24:53 PM

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Southeast Bank holds 25th AGM, declares 10pc dividend

Staff Reporter, Dhaka
Southeast Bank holds 25th AGM, declares 10pc dividend
Alamgir Kabir, chairman of Southeast Bank Limited, presides over the 25th annual general meeting of the bank virtually on Wednesday. Photo: Courtesy

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

The meeting approved 7.5 per cent cash dividend and 2.5 per cent stock dividend to the shareholders and the audited financial statements of the bank for the year 2019, the bank said in a press statement.

Alamgir Kabir, chairman of the bank, presided over the meeting.

According to the statement, the bank earned an operating profit of Tk 8,982.98 million in 2019 (consolidated). Its total deposits amounted to Tk 329,250.27 million and total assets reached Tk 422,312.71million as on December 31, 2019.

 Earning Per Share (EPS) was Tk 2.16 (consolidated), net asset value per share was Tk 26.29(consolidated) and net operating cash flow per share was Tk11.68(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 Tk 36,093.33 million as on December 31 2019.

The bank’s cost to income ratio stood at 37.58 per cent and per employee profit was Tk 0.87 million and per branch profit was Tk 18.58 million in 2019.

Alamgir Kabir highly appreciated the shareholders for their continuous co-operation and active support for sustainable growth of the bank. He assured them of implementing gradually the valuable suggestions put forward by them in the virtual meeting to accelerate the operational performance of the bank including its brand image.

Bank’s Vice-Chairperson Duluma Ahmed, Directors-- MA Kashem, Azim Uddin Ahmed, Jusna Ara Kashem, Rehana Rahman, Akikur Rahman and Independent Directors- Syed Sajedul Karim, Quazi Mesbahuddin Ahmed, Mohammad Delwar Husain, Managing Director M Kamal Hossain and bank’s advisor Mr Zakir Ahmed Khan participated in the meeting virtually. Bank’s sponsors and a large number of shareholders also took part in the meeting.

HM

 

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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