NN Online:
City Bank approved a 25 persent dividend—comprising 12.5 persent in cash and 12.5 persent in stock—at its 42nd Annual General Meeting (AGM), held virtually on June 29. The meeting was chaired by Aziz Al Kaiser, with the participation of Vice Chairman Hossain Khaled, Board Directors, Independent Director Matiul Islam Nowshad, MD & CEO Mashrur Arefin, Company Secretary Md. Kafi Khan, and a large number of shareholders and senior officials.
In his address, Chairman Aziz Al Kaiser announced that the bank recorded a consolidated profit after tax (PAT) of Tk. 1,014 crore in 2024—an impressive 58.9 persent growth from Tk. 638 crore in 2023. He also noted a steady rise in the bank’s current and savings account (CASA) deposit mix, which increased to 45 persent by December 2024. “City Bank has consistently demonstrated resilience and adaptability amid economic challenges,” he said, thanking stakeholders for their continued support.
Shareholders actively participated in the meeting, offering insights and recommendations on the bank’s operations. Responding to queries, MD & CEO Mashrur Arefin highlighted the bank’s achievements in 2024, including digital-first initiatives, expansion in retail and SME segments, and strong asset quality. “We are stepping into 2025 with a focused strategy for innovation, sustainable growth, and deeper customer engagement,” he stated.
The meeting concluded with the shareholders unanimously approving the Board’s recommended 25 persent dividend, reflecting the bank’s strong financial performance and commitment to delivering value to its investors.
