City Bank approves 12% dividends

City Bank's profit after tax has increased to Tk 450 crore in 2022 compared to the pre-Covid figure of Tk 250 crore in 2019.

It was revealed at the bank's 40th annual general meeting, which was virtually held yesterday, said a press release.

The shareholders approved 10 per cent cash and 2 per cent stock dividends for the year that ended on December 31, 2022.

Aziz Al Kaiser, chairman of the bank, presided over the meeting.

"During global crises such as the Covid-19 pandemic and the present war in Europe, City Bank formulated a prudent plan that resulted in a 23.6 per cent growth in loans in 2022 which is in line with the strategic objective of having a steadier and more vigilant risk-return structure," City Bank Chairman said in his welcome speech.

Hossain Khaled, vice-chairman, Tabassum Kaiser, Savera H Mahmood, Hossain Mehmood, Rajibul Huq Chowdhury, Syeda Shaireen Aziz, Rebecca Brosnan, directors, and Mashrur Arefin, managing director and CEO, also joined the meeting.