Pubali Bank holds 7th Extraordinary General Meeting

The seventh Extraordinary General Meeting (EGM) of Pubali Bank PLC, one of the country’s leading private commercial banks, was held virtually on Sunday. 

The meeting was chaired by Monzurur Rahman, chairman of the Board of Directors of Pubali Bank, according to a press release.

Directors Azizur Rahman, Md Abdur Razzak Mondal, Rana Laila Hafiz, Mustafa Ahmed, Arif Ahmed Choudhury, Shahinuzzaman Yaqub, Kabir Ahmed, Sajid Azad and independent director Hasina Sheykh participated in the meeting. 

Chief Financial Officer and General Manager Mohammad Liton Miah and Company Secretary and General Manager Md Anisur Rahman also joined the EGM. Shareholders attended the meeting through the virtual platform.

During the EGM, the shareholders approved the proposal to increase the bank’s authorised capital from Tk2,000 crore, divided into 200 crore ordinary shares of Tk10 each, to Tk4,000 crore, divided into 400 crore ordinary shares of Tk10 each. 

The shareholders also approved the related amendments to Clause V of the Memorandum of Association and Article 4(a)(i) of the Articles of Association. 

However, the increase in authorised capital and the related amendments are subject to approval from the Bangladesh Bank.