8th Annual General Meeting (AGM) of NRBC Bank Limited held Through Digital Platform
The 8th Annual General Meeting (AGM) of NRBC Bank Limited was held on Saturday, the 26th June 2021 at 12:00 pm through digital platform `Zoom’. The AGM was conducted through virtual medium as per the directive of the regulatory body BSEC due to the on-going nationwide Corona virus pandemic. Mr.S. M. Parvez Tamal, the Honorable Chairman of the Board of Directors presided over the meeting. All Directors, Sponsors, a large number of Shareholders, Managing Director & CEO Golam Awlia and External Auditor of the Bank attended the meeting on virtual platform. Company Secretary Md. Mozammel Hossain conducted the meeting. Chairman S M Parvez Tamal presented the Annual Report 2020 of the Bank and Directors Report before the Honorable Shareholders. Shakib Al Hasan, number one all-rounder of the world also attended the meeting as a distinguished share holder of this bank.
The Shareholders present in the AGM approved 12.5% consisting of 5% stock and 7.5% cash dividend for the year ended 2020. Apart from that, adoption and approval of last year’s Financial Statements, retirement and reelection of 04 Directors and other agenda were also approved in the AGM by the votes of the shareholders. NRBC Bank experienced tremendous growth in all financial parameters in 2020 amid Corona Virus pandemic situation. Bank's deposit increased by 25 per cent from Tk 7,185 crore to Tk 9,017 crore in December 2020. Loans increased by 20.67 percent. At the end of last year, the amount of debt stood at Tk.7,483 crore; last year it was 6,201 crore. Net profit has increased from Tk 114 crore to Tk. 134 crore. Earnings per share stood at Tk 2.31. The bank's NPL rate is only 2.93 percent. The bank has shown financial strength by saving 12.52 percent of its capital adequacy Ratio (CAR) . It was informed in the discussion of the AGM that NRBC Bank is a strong partner of the government for revenue collection. NRBC Bank is lending money to the people in an easy process. Microcredit schemes have been introduced for this purpose. Under this scheme in partnership banking, loans will be given to 1 lakh marginalized people in the next one year by they will be able to become self-reliant by arranging their own work. In addition to the banking activities, the bank has stood beside Corona affected people. NRBC Bank has been termed as `Humanitarian Bank’ for its various activities including distribution of medicines, PPE, masks, hand sanitizers, hand gloves and distribution of cash among the destitute people.
Chairman of the Bank S.M. Parvez Tamal said NRBC Bank is not only a profitable business organization but also a service provider institute. The bank is working to change the destiny of the general people. The bank has recently launched a microfinance scheme aimed at creating self-reliance through employment of at least 1 lakh marginalized people. Bangabandhu Sheikh Mujibur Rahman's dream was to build Sonar Bangla through economic liberation. NRBC Bank is working in harmony with the vision of the present government for the implementation of Sonar Bangla.The bank's services are reaching the doorsteps of the people during the coronavirus crisis. For this, branches, sub-branches, booths and other service centers are being established all over the country. The bank is receiving treasury invoices to be partners in the government's revenue collection.
Shakib Al Hasan said, as a general investor we are benefited from investing in NRBC Bank, as the company is formed and run by effective guidelines and directives of its prudent Board Members who are all successful NRBs. Bank’s non-performing loans (NPL) is very negligible which is a result of its due diligence in every sphere of its banking activities. We believe the stakeholders and customers will be even more benefited in future. NRBC Bank continues its customer oriented services that help generating more employment all over the country.
As of June this year, the bank has 83 branches and 450 sub-branches; These include BRTA collection booths, rural electricity bill collection booths, booths at the land registration office and bill collection booths at DPDC and DESCO. Besides, the bank has 596 agent points across the country. NRBC Bank is moving ahead in remote areas of the country with all its activities to serve the people.