The 27th (Virtual) annual general meeting of Southeast Bank Limited was held on August 11 virtually by using a digital platform.
Alamgir Kabir, FCA, chairman of the bank, presided over the meeting, reads a press release.
Bank’s Vice-Chairperson Duluma Ahmed, Directors- Jusna Ara Kashem, Md Akikur Rahman, M Maniruz Zaman Khan (nominee of Bay Leasing and Investment Limited), Md Rafiqul Islam (nominee of Asia Insurance Limited), Anjuman Ara Shahid (nominee of Single Click IT Solution (Pvt.) Limited), Independent Directors- Syed Sajedul Karim and Mohammad Delwar Husain took part in the meeting virtually via link.
The Managing Director M Kamal Hossain and the Company Secretary AKM Nazmul Haider also participated in the meeting.
The bank’s sponsors and a large number of shareholders took part in the meeting through the digital platform.
M Kamal Hossain, managing director of the bank in his welcome address highlighted the bank’s operational performance in 2021 and outlined the future plans and strategies to further augment the operational efficiency and asset quality of the bank.
The AGM witnessed a lively discussion on the bank’s operational performance. The bank earned an operating profit of Tk8,671.12 million in 2021 (consolidated).
As of December 31, 2021 bank’s total deposits amounted to Tk376,70.077 crore and its total assets reached Tk495,84.196 crore, Earning Per Share (EPS) was Tk1.50 (consolidated), net asset value per share was Tk25.22 (consolidated) and net operating cash flow per share was Tk17.89 (consolidated).
The price-earning ratio of the bank was 10.75 times in 2021.
The capital and reserves of the bank soared to a record high of Tk4132.707 crore as of December 31 2021. Southeast Bank Limited is considered one of the most efficient banks in the industry in terms of cost efficiency.
Its cost-to-income ratio stood at 40.90%. Bank’s per employee profit was Tk590000 and per branch, profit was Tk1.27 crore in 2021.
In the 27th (Virtual) Annual General Meeting, the shareholders by their unanimous votes approved an 8% Cash Dividend and 4% Stock Dividend and the audited financial statements of the Bank for the year 2021.
Alamgir Kabir, FCA, chairman of the bank, highly appreciated the shareholders for their continued cooperation and active support for the sustainable growth of the bank.
He assured them of implementing gradually the valuable suggestions put forward by them in the virtual meeting to accelerate the operational performance of the bank including its brand image.
The shareholders forwarded their comments/queries online during the meeting where they appreciated the board and the management of the bank for excellent performance, declaration of stable dividend to the shareholders and bringing out a most informative, comprehensive and impressive annual report-2021 of the bank, with adequate disclosures for stakeholders.
