Mercantile Bank approves 16% dividends during online AGM

The 21st Annual General Meeting of Mercantile Bank Limited was held virtually today.

The Annual Balance sheet, Profit & Loss account have been published and 11% cash and 5% stock dividends were approved for the year 2019 in that meeting, said a press release.

The meeting was presided over by Morshed Alam MP, chairman of the Board of Directors of Mercantile Bank Limited.

Bank's Managing Director & CEO Md Quamrul Islam Chowdhury delivered his welcome speech at the AGM.

The chairman in his speech mentioned that, the success of the bank in the year 2019 is the result of co-operation and support of its shareholders, clients, Bangladesh Bank and other regulatory bodies and he thanked the Board of Directors and the management for their collective effort towards the achievement of the Bank.

He mentioned that the bank is emphasising on agriculture, women entrepreneurship, SME & retail sectors in the line of the policy of the government and Central Bank to strengthen the economy by achieving sustainable growth of the country.

He expressed his firm belief that Mercantile Bank will be able to continue its progress of success by facing the challenges of 21st century and even also tackling risen situation by the coronavirus pandemic attack by developing the quality and amplitude of its services and human resources, implementing latest technology and ensuring proper risk management.

Al-Haj Akram Hossain (Humayun), Vice Chairman, Md. Anwarul Haque, Chairman, Executive Committee; Dr. Md. Rahmat Ullah, Chairman, Audit Committee; A.K.M. Shaheed Reza, Chairman, Mercantile Bank Foundation; A. S. M. Feroz Alam, Md. Abdul Hannan, M. Amanullah, Al-Haj Mosharref Hossain, M A Khan Belal and Dr. Md. Hamid Ullah Bhuiya, Directors were connected to the Virtual AGM. Abu Asghar G. Haruni, Conpany Secretary, Tapash Chandra Paul, PhD, CFO of the bank and shareholders were also connected through online platform.