BRAC Bank Limited approved 25 percent stock dividend for its shareholders the year 2017.
The approval came at the 19th annual general meeting (AGM) of the bank held at BRAC-CDM at Savar on Thursday.Prior to the AGM on the day, the 10th Extra-ordinary General Meeting (EGM) of the bank was also held at the same venue.
The shareholders, at the EGM, approved enhancement of the authorised share capital of the company to Tk 20,000 million from Tk 12,000 million.
Chaired by Sir Fazle Hasan Abed, Chairman of BRAC Bank Limited, the meeting was attended, among others, by Directors Shib Narayan Kairy, Kazi Mahmood Sattar, Kaiser Kabir, and Asif Saleh, Managing Director and CEO Selim RF Hussain and Company Secretary Rais Uddin Ahmad.
The Chairman of the bank informed the shareholders at the AGM that the bank earned Tk 9,422 million operating profit on a consolidated basis in 2017 which was Tk 8,611 million in 2016 registering a growth of 9 percent.
The bank recorded Tk 5,498 million as the consolidated profit-after-tax during the year 2017 which was Tk 4,076 million in 2016 marking a growth of 35 percent.
Chairman of the bank welcomed the shareholders, customers, stakeholders and management for their continuous support to the company.