Dhaka, Bangladesh (BBN)- The National Credit and Commerce (NCC) Bank Limited approved 30 percent stock dividend for the year 2008.
The bank also decided to raise its authorized capital to BDT 5.0 billion from BDT 2.50 billion, subject to Bangladesh Bank permission.
The approval came at the bank’s 24th annual general meeting (AGM) and extra-ordinary general meeting (EGM) held at Bangladesh-China Friendship Conference Centre in Dhaka on Tuesday.
NCC Bank Chairman Tofazzal Hossain presided over the meetings. Vice Chairman ASM Mainuddin Monem, directors, sponsors, a large number of shareholders and Managing Director Mohammed Nurul Amin attended the meetings.
The chairman said the year 2008 was another milestone of success for NCC bank. Deposits, advances, profits, foreign exchange business, recovery of bad loans and advances and other activities recorded significant improvement during the year.
He informed the AGM that NCC Bank earned BDT 2.36 billion operating profit during the year 2008 despite hard competition in the banking sector.
BBN/SS/SI/AD-13May09-1:52 am (BST)