Southeast Bank approves 10pc dividend

Southeast Bank Limited held its 28th annual general meeting (AGM) virtually on Wednesday, where the shareholders unanimously approved a 6 per cent cash and 4 per cent stock dividend, said a press release.

The AGM, presided over by Chairman Alamgir Kabir, saw the participation of Vice-Chairperson Duluma Ahmed, directors and independent directors.

Managing Director Nuruddin Md Sadeque Hussain presented the bank's operational performance in 2022 and outlined future plans and strategies to enhance efficiency and asset quality.

The bank achieved an operating profit of Tk 1,042.99 crore in 2022, with total deposits amounting to Tk 37,114.34 crore and total assets reaching Tk 49,309.28 crore as of December 31, 2022. The bank's earnings per share (EPS) stood at Tk 1.42 and net asset value per share was Tk 24.87 in the same period.

Southeast Bank Limited, known for its cost efficiency, maintains a favourable cost-to-income ratio of 40.70 per cent. The bank received a credit rating of AA (Double A) for the long term and ST-2 for the short term from Credit Rating Information and Services Limited (CRISL).