Dr. Arif Dowla, Chairman of Mutual Trust Bank, is seen at an AGM at Bashundhara R/A in the city Monday.

Mutual Trust Bank Limited (MTB) approved 10 percent stock dividend for its shareholders for the year ended on December, 2012.

The approval was given at the 14th annual general meeting (AGM) of the bank held at Bashundhara R/A in the city Monday, said a press release.

Dr. Arif Dowla, Chairman of MTB, presided over the meeting.

Syed Manzur Elahi, Founding Chairman, Rashed A Chowdhury, Vice Chairman, MA Rouf JP, Md Abdul Malek, Md Wakiluddin, Anjan Chowdhury and QAFM Serajul Islam, Directors, Anis A Khan,

Managing Director and CEO, Quamrul Islam Chowdhury, Deputy Managing Director and Company Secretary and a large number of shareholders of the bank attended the meeting.

In 2012, MTB earned net profit after tax amounting to Tk 327.86 million and the value of assets was Tk 78,806.55 million.

The bank reported earnings per share (EPS) of Tk 1.29. The balance-sheet footing of the bank increased by 22 percent in 2012 compared to the previous year.

The bank’s deposits have marked a growth by 27.3 percent in the year, while loans and advances moved higher by 20.2 percent.

The Capital Adequacy Ratio (CAR) maintained a 10.70 percent rise in the year compared to the required rate of 10 percent.

In his speech, Arif Dowla thanked the shareholders, customers, patrons, well-wishers, regulators, directors and staff for their support extended over the past year, one of the most tumultuous years in the banking sector.

A number of shareholders spoke at the meeting lauding the performance of the bank.

They also raised various queries which were later addressed by the Managing Director and CEO of the bank.
MTB expanded its branch network to 86 and MTB Securities Ltd branch network to 18.