DBBL approves 27.5pc dividend

Shareholders of Dutch-Bangla Bank Ltd (DBBL) have approved a 27.5 per cent dividend for 2021 as it made higher profits.

The dividend comprises a 17.5 per cent cash dividend and a 10 per cent stock dividend, said the private commercial lender in a press release.

The dividend was approved at the 26th annual general meeting of the bank that was held virtually yesterday. DBBL Chairman Sayem Ahmed presided over the meeting.

The audited financial statements of the bank for the year that ended on December 31, 2021 were placed before the AGM.

Total assets of the bank as of December 31 stood at Tk 51,439 crore compared to Tk 47,235 crore in the same period a year ago, an increase of 8.9 per cent.

Loans and advances rose 16.9 per cent to Tk 31,944 crore and deposits grew 10.7 per cent to Tk 40,150 crore.

DBBL's profit after tax went up by 1.3 per cent to Tk 556 crore compared to Tk 549 crore in 2020.  During the year under review, the earnings per share, attributable to shareholders, were Tk 8.79 compared to Tk 8.69 in the previous year, said the bank. 

The capital to risk-weighted assets ratio under Basel III stood at 16.4 per cent at the end of 2021 against the Bangladesh Bank's minimum requirement of 12.5 per cent, said the press release.

The meeting approved the re-appointment of Tang Yuen Ha as the director of the bank.

It appointed A Qasem & Co Chartered Accountants as the external auditor and Hoda Vasi Chowdhury & Co Chartered Accountants as the corporate governance compliance auditor of for 2022.