City Bank approves a 12.5 pc cash and 12.5pc stock dividend at its 42nd AGM

The 42nd Annual General Meeting (AGM) of City Bank was held on June 29, 2025, on a virtual platform. 

Aziz Al Kaiser, the bank’s Chairman, presided over the meeting, according to a media release. 

Vice Chairman Hossain Khaled, Directors Rubel Aziz, Savera H. Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Syeda Shaireen Aziz, Rebecca Brosnan, Independent Director Matiul Islam Nowshad, MD & CEO Mashrur Arefin, Company Secretary Md. Kafi Khan, along with a large number of shareholders and senior officials of the bank, attended the meeting.

In his welcome speech, Aziz Al Kaiser mentioned that the bank’s profit after tax, on a consolidated basis, reached a record high of Tk. 1,014 crore in 2024, marking a 58.9% growth over the 2023 PAT of Tk. 638 crore. He highlighted the bank’s CASA mix in its deposits, which has risen from 42% about four years ago to 45% in December 2024. He also said, “City Bank has once again demonstrated resilience and agility in a challenging economic environment. I extend my sincere thanks to all our Shareholders, Customers, Regulators, and Employees for their unwavering support.”

The shareholders at the AGM made various observations and suggestions regarding the performance of the bank.

Managing Director & CEO Mashrur Arefin addressed all questions from the shareholders concerning the bank’s current and future prospects.

He said, “In 2024, we focused on sustainable and inclusive growth. We launched several Digital-First initiatives, diversified our Retail and SME portfolio, and maintained strong asset quality. We are entering 2025 with a clear roadmap for expansion, innovation, and deeper customer engagement.”

Following the Board of Directors’ recommendation, a 12.5% cash and 12.5% stock dividend were declared, which received approval from the shareholders.