39th AGM of City Bank held virtually

The 39th Annual General Meeting (AGM) of City Bank was held virtually on Sunday.

During the meeting, the bank approved 12.50% stock and 12.50% cash dividend as recommended by its Board of Directors, reads a press release.

City Bank Chairman Aziz Al Kaiser presided over the AGM where audited financial statements of the bank for the year that ended on 31 December 2021 were placed.

In his welcome speech, Chairman Aziz Al Kaiser shared the bank's strategy as manifested in the several transformation initiatives of the year 2021. This strategy is built on the pillars of financial inclusion and digital innovation. 

He informed that the Profit After Tax of the bank in 2021 increased by taka 73 crores or 18.2% from 2021 and stood at taka 474 crores. As a result, return on equity increased to 15.8% in 2021 from 14.8% in 2020.

At the meeting, the bank's shareholders made various observations and suggestions on the performance of the Bank for the year 2021.

Vice-Chairman Hossain Khaled; Directors: Tabassum Kaiser, Savera H Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Syeda Shaireen Aziz, Rebecca Brosnan, Independent Director Dr Salim Mahmud, MD & CEO Mashrur Arefin, Additional MD & CFO Md Mahbubur Rahman and a large number of shareholders and the Bank's senior officials also attended the meeting.

Managing Director & CEO Mashrur Arefin talked in his speech about the growth trajectory of the bank, its core strategies and the need for higher capital adequacy to support that growth.

The shareholders also asked various questions regarding the Bank's progress and performance, and these questions were answered in detail by the Chairman and MD & CEO.