Eastern Bank approves 55 percent stock dividend

Dhaka, Bangladesh (BBN)- The 19th Annual General Meeting (AGM) of Eastern Bank Ltd (EBL) was held at the Bangabandhu International Conference Centre (BICC) in Dhaka on Wednesday.

Mohd. Noor Ali, Chairman, Board of Directors of the EBL presented the Directors’ Report and Financial Statements for the year 2010 before the Shareholders and later replied to the Shareholders’ queries.

For the year ended 31st December 2010, the Shareholders unanimously approved Stock Dividend (Bonus Share) at the rate of 55 per cent on the Shares held by each Shareholder as on the ‘Record Date,’ i.e.. March 1, 2011.

Amid intense competition among the existing Banks, EBL continued to maintain its growth both in terms of business volume and profitability. The year 2010 saw an impressive growth in Operating Profit by about 47.94 percent and total assets of the company stood at BDT 82.05 billion at the end of 2010 which is 17.43 percent higher than the previous year.

BBN/SSR/AD-31Mar11-1:35 am (BST)

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