Mercantile Bank PLC approved a 10 per cent cash dividend at its 25th Annual General Meeting (AGM) held virtually at its head office in Dhaka on Thursday.
The bank’s balance sheet as of December 31, 2023, has also been approved by its shareholders, according to a press release.
The meeting was presided over by Member of Parliament and Mercantile Bank Limited Board of Directors’ (BoD) Chairman Morshed Alam while the bank’s Managing Director Md Quamrul Islam Chowdhury delivered the welcome speech.
Morshed, in his speech, stated, “Mercantile Bank succeeded in 2023 using the co-operation and with support of its shareholders, clients, Bangladesh Bank and other regulatory bodies.”
He thanked the BoD and the management for their collective efforts towards the bank’s achievements and expressed his firm belief that Mercantile Bank PLC will be able to face the challenges of the 21st century by developing the quality of its services and human resources by implementing the use of the latest technology along with managing risks, adds the release.
Quamrul informed the shareholders about the activities of the bank in the year 2023 and presented the future planning for the year 2024.
The bank has also reported its consolidated earnings per share (EPS) of Tk 1.86, net asset value (NAV) per share of Tk 23.91 and net operating cash flow per share of Tk 4.80 for the year ended on December 31, 2023.
Vice Chairman ASM Feroz Alam; Vice Chairman and Risk Management Committee Chairman Md Anwarul Haq; Executive Committee Chairman Al-Haj Akram Hossain; Mercantile Exchange House (UK) Limited Chairman M Amanullah; Audit Committee Chairman Md Rezaul Kabir; along with other directors, and honourable sponsor shareholders attended the virtual AGM.
Bank’s AMD and CRO Mati Ul Hasan, CFO Tapash Chandra Paul, Company Secretary Abu Asghar G Haruni, sponsors and a significant number of shareholders were also joined the meeting.
Deputy Managing Directors Md Zakir Hossain, Adil Raihan, Shamim Ahmed, Md Mahmood Alam Chowdhury and Ashim Kumar Saha, SEVPs Shah Md Sohel Khurshid and Mohammad Iqbal Rezwan, along with senior executives and officers, were present on the occasion.
