BRAC Bank approves 15pc stock dividend

The shareholders of BRAC Bank Limited approved 15 per cent stock dividend for the year 2018 at the 20th annual general meeting (AGM) of the bank recently, says a statement.

The AGM was held at the BRAC-CDM in Savar with Sir Fazle Hasan Abed, KCMG, Chairman of BRAC Bank, in the chair.

Directors Shib Narayan Kairy, Nihad Kabir, Kaiser Kabir, Fahima Choudhury and Asif Saleh, Managing Director & CEO Selim RF Hussain and Company Secretary Rais Uddin Ahmad attended the meeting.

Sir Fazle Hasan Abed informed the shareholders that the bank earned a net profit after tax of Tk 5,670 million on consolidated basis in 2018, up from Tk 5,498 million in 2017, registering a growth of 3.1 per cent.

The consolidated earnings per share (EPS) of the bank rose to Tk 5.17 in 2018 from Tk 4.86 in 2017. The net asset value (NAV) per share on consolidated basis at the end of December 2018 stood at Tk 32.87, compared to Tk 24.80 at the end of December 2017.

Addressing the AGM, the chairman also expressed his gratitude to the shareholders, customers, stakeholders and management for their continuous support to the company.