Press Release: The 26th (Virtual) Annual General Meeting of Southeast Bank Limited was held on Wednesday, June 30, 2021 at 11.00 a.m. virtually by using digital platform.

Mr. Alamgir Kabir, FCA, Chairman of the Bank, presided over the meeting. Bank’s Directors-Mr. Md. Akikur Rahman, Mr. Raiyan Kabir, Mr. M. Maniruz Zaman Khan (nominated by Bay Leasing & Investment Limited), Independent Directors- Mr. Syed Sajedul Karim, Dr. Quazi Mesbahuddin Ahmed, Mr. Mohammad Delwar Husain, Bank’s Advisor Mr. Zakir Ahmed Khan and Managing Director Mr. M. Kamal Hossain participated in the meeting virtually via link. Bank’s sponsors and a large number of shareholders took part in the meeting through digital platform.

Mr. M. Kamal Hossain, Managing Director of the Bank in his welcome address highlighted the Bank’s operational performance in 2020 and outlined the future plans and strategies to further augment operational efficiency and asset quality of the Bank. He made special remarks about the impact of the sudden outbreak of COVID-19 since the beginning of 2020 and the re-orientation of strategies of the Bank to minimize the loss in line with Government’s policies.

The AGM witnessed a lively discussion on the Bank’s operational performance. The Bank earned an operating profit of BDT 8,264.56 million in 2020 (consolidated). As on 31st December, 2020 Bank’s total deposits amounted to BDT 359,535.94 million and its total assets reached BDT 465,293.41 million, Earning Per Share (EPS) was BDT 1.81 (consolidated), Net Asset Value per share was BDT 24.98 (consolidated) and Net Operating Cash Flow per share was BDT 9.54 (consolidated). The Price Earning Ratio of the Bank was 7.06 times in 2020. The Capital and Reserves of the Bank soared to a record high of BDT 40,372.53 million as on 31st December 2020. Southeast Bank is considered as one of the most efficient Banks in the industry in terms of cost efficiency. Its cost to income ratio stood at 39.98%. Bank’s per employee profit was BDT 0.73 million and per Branch profit was BDT 15.08 million in 2020.

In the 26th (Virtual) Annual General Meeting, the shareholders by their unanimous votes approved 10% Cash Dividend and the audited financial statements of the Bank for the year 2020.

Mr. Alamgir Kabir, FCA, Chairman of the Bank, highly appreciated the shareholders for their continuous co-operation and active support for sustainable growth of the Bank. He assured them of implementing gradually the valuable suggestions put forward by them in the virtual meeting to accelerate the operational performance of the Bank including its brand image.

The shareholders forwarded their comments/queries through online during the meeting where they appreciated the Board and the Management of the Bank for excellent performance, declaration of stable dividend to the shareholders and bringing out a most informative, comprehensive and impressive Annual Report-2020 of the Bank, with adequate disclosures for Stakeholders.