Mercantile Bank recently announced a 10 percent cash dividend for the year that ended on December 31, 2023.

The announcement came at the bank's 25th annual general meeting (AGM), which was held virtually, the bank said in a press release.

Morshed Alam, chairman of the bank, presided over the meeting.

In his speech, Alam stated that Mercantile Bank succeeded in 2023 by cooperation with and support of shareholders and clients as well as the Bangladesh Bank and other regulatory bodies.

He thanked the board of directors and the management for their collective effort towards the bank's achievement.

"Mercantile Bank PLC will be able to face the challenges of the 21st century by developing the quality of its services and human resources, implementing the use of the latest technology, and managing risks," he added.

The bank reported consolidated earnings per share of Tk 1.86, net asset value per share of Tk 23.91 and net operating cash flow of Tk 4.80 for 2023.

Md Quamrul Islam Chowdhury, managing director of the bank, presented plans for 2024 at the meeting.

ASM Feroz Alam, vice-chairman of the bank, Md Anwarul Haq, vice-chairman and chairman of the risk management committee, Akram Hossain (Humayun), chairman of the executive committee, M Amanullah, chairman of the Mercantile Exchange House (UK), Md Rezaul Kabir, chairman of the audit committee, MA Khan Belal, chairman of Mercantile Bank Securities, Md Shahidul Ahsan, sponsor shareholder, and Md Abdul Hannan, Mosharref Hossain, Mohammad Abdul Awal, directors, attended the event.

Among others, Mati Ul Hasan, additional managing director and chief risk officer, Tapash Chandra Paul, chief financial officer, Abu Asghar G Haruni, company secretary, Md Zakir Hossain, Adil Raihan, Shamim Ahmed, Md Mahmood Alam Chowdhury and Ashim Kumar Saha, deputy managing directors, and Shah Md Sohel Khurshid and Mohammad Iqbal Rezwan, senior executive vice-presidents, also joined the meeting.