7th AGM of Premier Bank held; 24% Dividend Declared
The 7th Annual General Meeting (AGM) of the Premier Bank Limited was held on August 24, 2006 at its Head Office, Banani, Dhaka. Dr. H.B.M. Iqbal, Chairman of the Board of Directors presided over the meeting. The Bank declared 24% dividend in the form of Bonus Share for the year 2005 as approved by Security Exchange Commission (SEC) & Bangladesh Bank (BB). Dr. H. B. M. Iqbal, the Chairman informed the shareholders that during the year 2005 the Bank earned operating profit of Tk 899.03 million. Deposits grew by 12.69% to Tk 20290.47 million in 2005 compared to Tk 18005.20 million in 2004. Loans & Advances have registered a considerable rise of 17.22% from Tk 15383.93 million in 2004 to Tk 18032.50 million in 2005. During the period under review total assets recorded a growth of 13.32% to Tk. 22767.84 million over the preceding year. After detailed review the shareholders approved the accounts & Director Reports and declared Dividend @ 24% in the form of Bonus Share. The Chairman appreciated the support of the Board Members and the effort made by the Management team to bring about improvement in the operations of the Bank. He also thanked & admired the valued customers of the Bank for their continuous support over the last couple of years. To meet the challenge of globalization he advised the management to prepare a 3 years business plan for the Bank.The Shareholders thanked Dr. H.B.M. Iqbal, the Chairman for his immense contribution to the Bank. B. H. Haroon, Vice Chairman & Chairman of the Board Audit Committee thanked the shareholders & Bank Management for their wholehearted support for the Bank. He put forward Bank’s commitment towards expansion of its operation by setting up a number of new branches across the country. Mr. Haroon asserted that under the dynamic leadership of the Hon’ble Chairman the Bank is heading towards its goal set for the new millennium, the number one berth in the financial sector. Abu Haniff Khan, Managing Director of the Bank took part in the discussion and informed the Shareholders about various steps being taken to improve efficiency and to introduce new products and services. The Bank has already opened up a new horizon in the corporate world with the introduction of some sophisticated & cell phone oriented products like PREMIER SMS & PREMIER CMS, first ever in the country, he pointed out. “It’s not so long before we hit upon another evergreen product to be categorised as Debit Card”, he concluded. Among others Directors & Bank’s Company Secretary Syed Ahsan Habib were also present on the occasion. The year 2005 was a successful year for the Bank in terms of profit & turnover. As a dynamic institution The Premier Bank Limited has always stressed on sustainable growth. During the year 2005 the Bank has given more of consolidation in different segments of business and its relationship with customers which has been crystallized by its universal motto of “Service First”.