NRBC Bank approves 11% cash dividend

NRBC Bank approved an 11 percent cash dividend for the year 2023 at its 11th annual general meeting (AGM) yesterday.

According to the financial report, the bank's assets increased by 9 percent to Tk 17,567 crore by the end of December 2023 compared to the Tk 16,115 crore at the end of the prior year, according to a press release.

In the same period, the bank's loan portfolio grew by 7 percent to Tk 14,509 crore from 13,617 crore.

Earnings per share stood at Tk 2.23, with Tk 356 crore in operating profit. Net profit amounted to Tk 185 crore.

SM Parvez Tamal, chairman of the bank, expressed gratitude to all stakeholders who participated in the AGM and noted that NRBC Bank was working towards fostering entrepreneurship, particularly focusing on women, youth, and marginalised communities.

Md Rabiul Islam, managing director (current charge), mentioned that NRBC Bank outperformed contemporary banks in all economic indicators, emphasising rural economic development as the bank's primary goal.

Rafikul Islam Mia Arzoo, vice-chairman, also attended the AGM alongside Mohammed Adnan Imam, AM Saidur Rahman, Mohammed Oliur Rahman, Abu Bakr Choudhury, Loquit Ullah, Mohammed Nazim and AKM Mostafizur Rahman, directors.

Abu Esrar, Khan Mohammad Abdul Mannan and Raad Mazib Lalon, independent directors, Harunur Rashid, deputy managing director and chief financial officer, and Ahsan Habib, company secretary, were also present.