Shimanto Bank holds 8th AGM, approves stock dividend

Shimanto Bank PLC has approved stock dividend for the shareholders at its 8th annual general meeting (AGM) held at Shahid Captain Ashraf Hall at Peelkhana in Dhaka.

Director General of Border Guard Bangladesh and Chairman of the bank Maj Gen Mohammad Ashrafuzzaman Siddiqui presided over the meeting held on Tuesday.

The director’s report and auditor’s report were also approved at the meeting, says a media release.

Directors were elected and an auditor was appointed in the meeting. Shareholders approved the proposal for the appointment of veteran banker Ahmed Kamal Khan Chowdhury as an independent director.

“Shimanto Bank started its journey with the purpose of delivering banking services to the masses across the country. We are advancing towards achieving this goal,” Mr Siddiqui said in his speech.  

He said, “Customer satisfaction is our highest priority by ensuring service quality and excellence. We’re advancing very carefully by justifying the quality of loans and investments to ensure growth. Progress of bank’s overall financial indicators is being achieved.”

Corporate governance is established. It’s being reflected in the assessments of regulators including Bangladesh Bank.

The chairman expressed a plan regarding the floating of shares for the public through an IPO for investment in the bank soon.

Rafiqul Islam, managing director & CEO of the bank said, “We’ve already increased our Paid Up Capital from Tk 4.0 billion to Tk 5.0 billion.”

“In future, our service network and service scope both will be expanded. Emphasis will be given for spreading branches and sub-branches countrywide. More initiatives will be taken to increase the assets of the bank by taking calculated moderate risks. Hope that we can reach our goals through coordinated efforts of the Bank's Board and Management,” he said.

Shareholders, directors, senior officials of BGB, and senior officials and other stakeholders of the bank were present at the AGM.

Hossain Suman FCS, company secretary of the bank, moderated the meeting.