Mercantile Bank Limited declared 23 percent stock dividend for its shareholders for the year 2011.The approval was given at the Annual General Meeting (AGM) of the Bank in the city on Wednesday.

Abdul Jalil, MP, Chairman of the Bank presided over, said a press release.

The shareholders approved the company’s profit and loss account and balance sheet.

In the year 2011, the Bank earned operating profit of Tk 3.5017 billion. Banks deposit and loans and advances were Tk 102.26 billion and Tk 80 billion respectively.

Import and export of the Bank activities was Tk. 35.0087 billion and Tk. 81.3118 billion. Foreign inward remittance was Tk 7.15 billion and provision for taxes was Tk 1.25 billion.

Abdul Jalil in his speech mentioned that the success of the Bank in the year 2011 is the result of co-operation and support of its shareholders clients, central Bank and other regulatory bodies and thanked the board of directors and the management for theirs co-operation to achieve the success.

Among others, Morshed Alam, Vice Chairman, Mohd. Selim- Vice Chairman, MS Ahsan, Chairman Executive Committee, Al-Haj Akram Hussain (Humayun), Chairman Audit Committee, Directors Md. Anwarul Haque, Dr. Toufique Rahman Chowdhury, Engr. Mohd. Monsuruzzaman, Bilkis Begum, Md. Tabibul Huq, ASM Feroz Alam, M Amanullah, AKM Shaheed Reza, Md. Nasiruddin Choudhury, Md. Shahabuddin Alam, SM Abdul Mannan, MP, Al-Haj Mosharref Hossain, MA Khan Belal, Dr. Matiur Rahman, MP, sponsors Al-Haj Md. Abdul Hannan and SM Shafiqul Islam (Mamun), Bank’s Managing Director and CEO AKM Shahidul Haque, Deputy Managing Directors Md. Abdul Jalil Chowdhury, Monindra Kumar Nath, MA Yousuf Khan, Md. Quamrul Islam Chowdhury and Choudhury Moshtaq Ahmed and senior executive of the Bank were also present on the occasion.

A large number of share holders attended the Annual General Meeting.

The Daily Sun/Bangladesh/ 29th March 2012