Business Report :
The 41st Annual General Meeting (AGM) of City Bank was held on Thursday on a virtual platform. Aziz Al Kaiser, the bank’s chairman, presided over the meeting.
Vice Chairman Hossain Khaled, Directors Rubel Aziz, Savera H. Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Syeda Shaireen Aziz, Rebecca Brosnan, Independent Directors Salim Mahmud MP, Matiul Islam Nowshad, MD & CEO Mashrur Arefin, Company Secretary Md Kafi Khan, along with a large number of shareholders and senior officials of the bank, attended the meeting.
In his welcome speech, Aziz Al Kaiser mentioned that the bank’s profit after tax, on a consolidated basis, reached a record high of Tk. 638 crore in 2023, marking a 33.5% growth over the 2022 PAT of Tk. 478 crore.
He highlighted the bank’s CASA mix in its deposits, which has risen from 36% about four years ago to 51% in December 2023. He also praised the popularity of the CityTouch digital banking app, which handled a total transaction volume of over Tk. 60,000 crore last year.
The shareholders at the AGM made various observations and suggestions regarding the performance of the Bank. Managing Director & CEO Mashrur Arefin addressed all questions from the shareholders concerning the bank’s current and future prospects.
Following the Board of Directors’ recommendation, a 15% cash and 10% stock dividend were declared, which received approval from the shareholders.