City Bank okays 15pc div

Staff Correspondent

14 August, 2020 12:00 AM printer

City Bank okays 15pc div

City Bank chairman Aziz Al Kaiser presides over the bank’s 37th annual general meeting through video conference in the capital on Thursday.

City Bank has approved 15 percent cash dividend for its shareholders for the year ended on 31st December, 2019 at the bank’s 37th annual general meeting (AGM) held on Thursday.

Officials placed the audited financial statements of the last calendar year at a virtual meeting.

City Bank chairman Aziz Al Kaiser presided over the meeting.

Aziz Al Kaiser mentioned various challenges prevailing in the banking sector due to Covid-19 pandemic and the consistent attempts to overcome those.

He also outlined how the bank aims to use its strong foundation to invest in achieving sustainable growth in the years ahead.

Total assets of the bank stood at Tk 354.68 bilion by the end of 2019 posting 9.21 percent growth year-on-year compared to Tk 324.78 billion of 2018.

Managing Director Mashrur Arefin stated about the wholesome approach of City Bank to serve the lives and financial purposes of people from all the sectors and spheres of societies.

City Bank has maintained strong growth in major indicators though the bank’s revenue decreased in the first half of the year amid the coronavirus pandemic.

Among others, vice chairman Hossain Khaled, Directors Tabassum Kaiser, Savera H. Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Rafiqul Islam Khan, Syeda Shaireen Aziz, Savera H Mahmood, independent directors Farooq Sobhan, Dr Selim Mahmud, and Additional Managing Director Sheikh Mohammad Maroof also connected to the session of 37th AGM of the bank.