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The Board of Directors of NRB Commercial (NRBC) Bank Limited has recommended an 11 per cent cash dividend for the shareholders for the year 2023, subject to the approval of the 11th Annual General Meeting of the Bank.
The decision was adopted in the 183rd meeting of the Board of Directors, which took place through a hybrid system (online and offline) on Tuesday, presided over by its Chairman S M Parvez Tamal, said a press release.
The bank’s Vice Chairman Rafikul Islam Mia Arzoo, Directors Mohammed Adnan Imam, AKM Mostafizur Rahman, Mohammed Oliur Rahman, A M Saidur Rahman, Loquit Ullah, Mohammed Nazim, and Independent Directors Air Chief Marshal Abu Esrar (Retd), Dr Raad Mozib Lalon, Managing Director & CEO Golam Awlia, DMD Rabiul Islam, Kabir Ahmed, DMD & CFO Harunur Rashid, and Company Secretary Mohammad Ahsan Habib attended the meeting.
The board also decided to hold the 11th Annual General Meeting of the Bank on June 13, 2024, on Thursday.
The record date for the entitlement of dividends has been fixed for May 21, 2024, Tuesday.
The meeting approved audited financial statements for the year ended on December 31, 2023.
According to the balance sheet, the earnings per share (EPS) and net asset value (NAV) of NRBC Bank increased in December 2023 compared to the period of the previous year. The consolidated EPS for January–December stands at Tk 2.40, which was Tk 2.33. At the mentioned period of time, the solo EPS increased to Tk 2.23 from Tk 2.10.
At the end of the last year, the consolidated size of the bank's balance sheet stood at Tk 27043.38 million, which was Tk 25062.00 million in the last year. The consolidated NAV at the end of December 2023 is Tk 14566.79 million, which was Tk 13270.28 million. Solo NAV is Tk 14180.44 million, which was Tk 12935.32 million.
On the other hand, the consolidated net asset value (NAV) per share on December 31, 2023, stands at Tk 17.58, whereas it was Tk 16.01 in December last year. The solo NAV per share is Tk 17.11, which was Tk 15.61 in December.
It was informed during the board meeting that the bank expanded its network and banking services last year. Emphasis was given on the disbursement of loans and advances in Islamic banking and microcredit, besides conventional banking. The total loans disbursed as of December 31, 2023, were Tk 14508.66 million, which was Tk 13617.41 million at the same time last year. The bank’s net profit stood at Tk 1846.03 million at the end of December 2023.