Mutual Trust Bank (MTB) approves 20% stock dividend

Mutual Trust Bank
The 15th Extra Ordinary General Meeting (EGM) and 16th Annual General Meeting (AGM) of Mutual Trust Bank Limited (MTB) were held on March 30, 2015 at the International Convention City, Bashundhara, in the capital. MTB Chairman Rashed A Chowdhury, presided over both the meetings. MTB Vice Chairman MA Rouf, JP, Directors Dr. Arif Dowla, Md. Abdul Malek, Md. Wakiluddin, Khwaja Nargis Hossain,Q. A. F. M. Serajul Islam, Independent Directors, Anwarul Amin, Sultan Hafeez Rahman, Managing Director,& CEO Anis A Khan, Additional Managing Director, Md. Hashem Chowdhury and a large number of shareholders also attended the meetings. 
In the EGM, a special resolution was adopted on issuance of BDT 3,000 million coupon bearing non-convertible redeemable Subordinated Bond eligible as Bank’s Tier II capital. The shareholders attending the MTB AGM, approved 20% stock dividend for 2014. At the beginning, the MTB Chairman welcomed all the shareholders who attend the two meetings. In his address, he expressed his gratitude to the valued shareholders for keeping their faith on the board of directors and management, and requested for continued support and encouragement so that the bank can perform better in the future. A number of shareholders spoke at the meeting on the banks performance and raised various queries which were later on responded to by the Managing Director & CEO.

In 2014, MTB earned net profit after tax amounting to BDT962 million which was 67.74% higher than 2013 and the value of earning assets was BDT98,025.82 million. Earnings per share (EPS) grew to BDT3.12 from BDT 1.86. The bank's balance-sheet footing increased by14.95%, as at the end of 2014, compared to the previous year. Deposits grew by 15.09%, Loans and Advances rose by 29.54%. The Capital Adequacy Ratio (CAR) was maintained at 10.77%, compared to the required rate of 10%. MTB has expanded its network to 103 branches, 181 ATMs, 8 Kiosks, 1,900 Point of Sale (POS) devices including SMS and Internet banking and 24/7 Contact Centre till date. (source: press release)