City Bank approves 25% dividend

City Bank today approved a 25 percent dividend, including 15 percent cash dividend, for the year that ended on December 31, 2023.

The approval came at the bank's 41st annual general meeting (AGM), which was held virtually, the bank said in a press release.

Aziz Al Kaiser, chairman of the bank, presided over the meeting.

In his welcome speech, Kaiser mentioned that the bank's profit after tax, on a consolidated basis, reached a record high of Tk 638 crore in 2023, marking a 33.5 percent rise compared to Tk 478 crore in 2022.

He highlighted the bank's CASA mix in its deposits, which has risen to 51 percent in December 2023 from 36 percent about four years ago.

He also praised the popularity of the CityTouch digital banking app, which handled a total transaction volume of over Tk 60,000 crore last year.

Hossain Khaled, vice-chairman of the bank, and Rubel Aziz, Savera H Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Syeda Shaireen Aziz, and Rebecca Brosnan, directors, joined the meeting.

Salim Mahmud and Matiul Islam Nowshad, independent directors of the bank, Mashrur Arefin, managing director and CEO, and Md Kafi Khan, company secretary, along with a large number of shareholders and senior officials of the bank, were also present.