NRBC Bank recommends 15% cash dividend for shareholders
The bank’s profit increased 64% year-on-year
The Board of Directors of NRB Commercial (NRBC) Bank Limited has recommended 15% dividend with 7.50 % cash dividend and 7.50% stock dividend for the shareholders for the year 2021 subject to approval of the 9th Annual General Meeting of the Bank.
The decision was adopted in the 138th meeting of the Board of Directors which has taken place virtually on Thursday (13 April) with its Chairman SM Parvez Tamal in the chair, said a press release.
NRBCBank's Vice Chairman Rafikul Islam Mia Arzoo, Directors Mohammed Adnan Imam, Mohammed Oliur Rahman, Abu Bakr Chowdhury, Loquit Ullah, AKM Mostafizur Rahman, Alternative director Dr Kutub Uddin and Independents Directors Air Chief Marshal Abu Esrar (Retd), Dr Khan Mohammad Abdul Mannan and Raad Mozib Lalon, Phd, Managing Director and CEO Golam Awlia, AMD Kazi Md. Talha, DMD and CFO Harunur Rashid and Company Secretary Md. Reaz Uddin Asif attended the meeting.
The Board also decided to hold 9th Annual General Meeting of the Bank on online platform on 02 June of this year. The record date for entitlement of dividend has been fixed on 11 May 2022. The meeting adopted annual audited financial statements for the ended on 31 December 2021.
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According to the Balance sheet, The Earnings per Share (EPS) and Net Asset Value (NAV) of NRBC Bank has increased on December, 2021 compared to period of previous year. The consolidated EPS of January- December stands at Tk3.07 which was Tk1.87. At the mentioned period of time the solo EPS has increased to Tk 2.83 from Tk1.82.The growth of EPS in last 1 year is 64%.
At the end of the current year the consolidated size of the balance sheet of the bank stands at 15 thousand 444 crore which was 11 thousand 664 crore taka in the last year. The consolidated NAV at the end of December, 2021 is 1 thousand 198 crore 97 lacs 39 thousand 507 taka which was 983 crore 50 lacs 67 thousand 172 taka. Solo NAV is 1 thousand 180 crore 86 lacs 23 thousand 163 taka which was 979 crore 75 lacs 43 thousand 710 taka.
On the other hand, the consolidated Net Asset value (NAV) per share at December 2021 stands at Tk16.25 whereas it was Tk13.33 in the last December last year. The solo NAV per share is Tk16.01 which was Tk13.28 in last December.
It was informed through the board meeting that ,the bank has gone for expansion of network and banking services during corona pandemic. Emphasis was given on disbursement of loans and advances in Islamic banking and microcredit beside the conventional banking. As a result, the total loan disbursement has increased 40.17%, the press release added.
The total loans disbursed at December 2021 is Tk10 thousand 490 crore which was Tk7 thousand 483 crore at the same time of last year.
Besides, the deposit collection has increased 27% and present deposit of the bank stands at 12 thousand 82 crore . The bank's net profit stood Tk306 crore at the end of December 2021, during the same period in 2020, its net profit was Tk208 crore.
