NRBC Bank approves 15% dividend

NRBC Bank Limited has recommended a 7.5 percent stock and 7.5 percent cash dividend for the year 2021.

The dividend payout was recommended unanimously at the 9th Annual General Meeting of the bank was held on Thursday.

SM Parvez Tamal, chairman of the Board of Directors presided over the meeting, said a press release.

All directors, sponsors, a large number of shareholders and external auditor of the bank attended the meeting virtually.

Before deciding on the dividend, the bank’s chairman presented the Annual Report 2021 of the bank and the directors’ report before the shareholders.

According to the Audited Financial statement, the bank’s total loan disbursement increased 40.17 percent. The total loans disbursed in December 2021 is Tk 10,490 crore which was Tk 7,483 crore in the same period last year.

Besides, the deposit collection has increased 27 percent and present deposit of the bank stands at Tk 12,082 crore. The bank’s net profit after tax stood Tk 208 crore at the end of December 2021. During the same period in 2020, its net profit was Tk 134 crore.

consolidated Earnings Per Share of the bank rose to Tk 2.83 in 2021 from Tk 2.31 in 2020. The net asset value (NAV) per share on a consolidated basis at the end of December 2021 stood at Tk 16.25, compared to Tk 16.96 at the end of December 2020.

Expressing his gratitude to the shareholders, the bank's chairman addressing the AGM said that more than Tk 1,000 crore of loans among 26,000 people have been distributed under microcredit.

Managing Director Golam Awlia said the bank is dedicated to the development of the country with government partnership and it is now working to create employment and new entrepreneurs through financing.

NRBC Bank was established in 2013 and was listed on the Dhaka Stock Exchange in 2021.

Bank’s Vice Chairman Rafikul Islam Mia Arzoo, Directors Mohammed Adnan Imam, A M Saidur Rahman, Mohammed Oliur Rahman, Abu Bakr Chowdhury, Loquit Ullah, Mohammed Nazim, AKM Mostafizur Rahman, Independent Directors Air Chief Marshal Abu Esrar (Retd), Dr. Khan Mohammad Abdul Mannan and Raad Mozib Lalon, Phd, Managing Director & CEO Golam Awlia, AMD Kazi Md. Talha, DMD & CFO Harunur Rashid and Company Secretary Md. Reaz Uddin Asif attended the AGM.