NRBC Bank holds 11th AGM

The Annual General Meeting (AGM) of NRBC Bank was held on 13th June, 2024, Thursday, with Chairman S. M. Parvez Tamal presiding over the meeting on a hybrid platform attended by all directors, executives, and shareholders. The Vice Chairman Rafikul Islam Mia Arzoo, Director Mohammed Adnan Imam,FCCA, A. M. Saidur Rahman, Mohammed Oliur Rahman, Abu Bakr Choudhury, Loquit Ullah, Mohammed Nazim, AKM Mostafizur Rahman, Independent Director Air Chief Marshal (Retd.) Abu Esrar, Dr. Khan Mohammad Abdul Mannan, Dr. Raad Mazib Lalon, Managing Director (Current Charge) Md. Rabiul Islam, DMD & CFO Harunur Rashid, and Company Secretary Ahsan Habib were present at the meeting. In the AGM, the shareholders approved 11% cash dividend for the 2023. The meeting also approved the audited financial report of the previous year, the directors report, and reappointment of independent directors. According to the financial report, the Bank’s assets have increased by 9% to Tk.17,567 crore by the end of December 2023, compared to the previous year’s Tk.16,115 crore. The loan portfolio has grown by 7% reaching Tk.14,509 from 13,617 crore. Earnings per share stood at 2.23. The bank's operating profit at the end of the year was TK 356 crore, and the net profit was TK 185 crore. Additionally, the bank facilitated imports worth Tk.3,914 crore, exports worth Tk.3,192 crore, and remittances of Tk.7,327 crore in the last year. Chairman S. M. Parvez Tamal expressed gratitude to all stakeholders who participated in the AGM and noted that NRBC Bank is working towards fostering entrepreneurship, particularly focusing on women, trained youth, and marginalized communities. The bank has launched initiatives to provide loans to trained youth as entrepreneurs without collateral through the Youth Development Department. Furthermore, the bank has introduced microcredit schemes to reduce poverty and liberate individuals from usurious interest rates. Nearly 80,000 SME entrepreneurs have joined NRBC Bank's praised initiative, which aims to extend the bank's technologically rich network to every corner, ensuring easy access to banking services for the general people. Managing Director (Current Charge) Md. Rabiul Islam mentioned that NRBC Bank has outperformed all economic indicators compared to contemporary banks, emphasizing rural economic development as the bank's primary goal. The bank has established numerous branches, sub-branches, and service centers for residents in rural or remote areas, providing services with cleanliness, accountability, and utilizing advanced technology to ensure customer service remains consistent and sustainable in the future. Moreover, NRBC Bank has significantly expanded its service points, with around 106 full-fledged branches and 690 sub-branches. The bank is collecting fees for BRTA registration, land registration fees, and offering technology-based banking services through approximately 600 agent points in remote areas. NRBC Bank is also ensuring that general investors participate in the stock market and is registered in the capital market in 2021.