NRBC Bank holds 10th AGM virtually

The 10th Annual General Meeting (AGM) of NRBC Bank chaired by Chairman SM Parvez Tamal was held virtually on Monday with the participation of all directors, sponsors and shareholders.

The Vice Chairman Rafiqul Islam Mia Arzoo, Directors Mohammed Adnan Imam, AM Saidur Rahman, Mohammed Oliur Rahman, Loquit Ullah, Mohammed Nazim, AKM Mostafizur Rahman, Independent Directors Chief Air Marshal (Retd.) Abu Esrar, Dr Khan Mohammad Abdul Mannan, Raad Mozib Lalon, MD and CEO Golam Awlia, DMD and CFO Harunur Rashid and Company Secretary Mohammad Ahsan Habib were also present at the meeting.

In the AGM, the shareholders approved 12 per cent of the total dividend of which 7.50 per cent is in cash for the year 2022. The meeting also approved the audited financial report of the previous year, the director’s report, the election of new directors, and changing of the Bank’s name to ‘NRBC Bank PLC’.

According to the financial report, the bank’s assets have increased by 29 per cent to Tk 16,115 crore by the end of December 2022, compared to the previous year’s Tk 12,462 crore. The loan portfolio has grown by 30 per cent, reaching Tk. 13,617 crore from Tk 10,489 crore. The bank’s operating profit at the end of the year was Tk 403 crore, and the net profit was Tk 173 crore. Earnings per share have increased to Tk 2.19. Additionally, the bank facilitated imports worth Tk 3,602 crore, exports worth Tk 3,373 crore, and remittances of Tk 1,333 crore in the last year.

Expressing gratitude to all the directors, shareholders, customers, and investors who participated in the AGM, Chairman SM Parvez Tamal stated that NRBC Bank is working for the socio-economic development of rural people.

“The Bank’s initiatives, such as the microfinance programme have been highly acclaimed. So far, approximately 60,000 individuals have received loans on easy terms. Moreover, the Bank has arranged loan facilities for young entrepreneurs under easy conditions.”, he said.

“Over the past decade, NRBC Bank has made significant contributions as a stakeholder in the country’s socio-economic development. The Bank has always stood by the people and has been recognised as a humane bank.”

Managing Director Golam Awlia mentioned that NRBC Bank has been operating with good governance, accountability, and cleanliness while working for the well-being of the people.

“The Bank is not only investing in major industries but also supporting various small-scale ventures. He added that the Bank’s microcredit program contributes to the development of the rural economy. Furthermore, through the Department of Youth Development, NRBC Bank provides loans to trained youths.”, he stated.

NRBC Bank, the introducer of the sub-branch concept, has a total of 1,616 service centres, including 103 branches. NRBC Bank collects fees for BRTA, land registration, and other govt. services. Through these service centres, NRBC Bank is providing services to people in remote areas using the maximum utilization of IT.

The bank has already received national and international recognition for its innovative services and rapid expansion in the banking sector. The “Most Innovative Mobile Banking App” and the “Fastest Growing Microfinance Bank” awards were conferred upon NRBC Bank by the UK-based magazine “The Global Economics.”

Apart from that the Bank has received South Asian Business Excellence Awards in six categories. For its contribution to agriculture, NRBC Bank has been awarded the RTV Krishi Padak and ATN Bangla-Unnayane Bangladesh Awards.