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City Bank approves 25pc dividend

Published : Monday, 3 June, 2024 at 12:00 AM  Count : 260
Business Desk
City Bank approved 25pc dividend (15pc cash and 10pc stock dividend) for the year ending in December 2023 at its 41st Annual General Meeting (AGM) held thru virtual platform recently, says a press release.  Aziz Al Kaiser, the banks Chairman, presided over the meeting.

Vice Chairman Hossain Khaled, Directors Rubel Aziz, Savera H. Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Syeda Shaireen Aziz, Rebecca Brosnan, Independent Directors Salim Mahmud MP, Matiul Islam Nowshad, MD and CEO Mashrur Arefin, Company Secretary Md. Kafi Khan, along with a large number of shareholders and senior officials of the bank, attended the meeting.

Aziz Al Kaiser on this occasion mentioned that the banks profit after tax, on a consolidated basis, reached a record high of Tk. 638 crore in 2023, marking a 33.5pc growth over the 2022 PAT of Tk. 478 crore.

He highlighted the banks CASA mix in its deposits, which has risen from 36pc about four years ago to 51pc  in December 2023.

He also praised the popularity of the CityTouch digital banking app, which handled a total transaction of over Tk. 60,000 crore last year.

Shareholders at the AGM made various observations and suggestions regarding the performance of the Bank. Managing Director and CEO Mashrur Arefin addressed all questions from the shareholders concerning the banks current and future prospects.



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