Southeast Bank held its 632nd board meeting on 29 July 2021 via digital platform. At the meeting, the Board of Directors approved half yearly financial statements (un-audited) of Southeast Bank Limited. Mr. Alamgir Kabir, FCA Chairman, Southeast Bank Limited presided over the Board Meeting.
Vice-Chairperson Duluma Ahmed, Bank’s Directors- M. A. Kashem, Azim Uddin Ahmed, Jusna Ara Kashem, Rehana Rahman, Akikur Rahman, Raiyan Kabir, M. Moniruz Zaman Khan (nominated by Bay Leasing & Investment Limited), Independent Directors- Quazi Mesbahuddin Ahmed & Mohammad Delwar Husain, bank’s advisor Zakir Ahmed Khan, and Managing Director M. Kamal Hossain participated in the meeting virtually.
The bank earned an operating profit of BDT 4,662.9 million in the first half of 2021 which was BDT 3,457.9 million in the previous year of the same period. Profit After Tax is BDT 2,913.5 million which is 55.02% or BDT 1,034.1 million higher than the last year’s Profit After Tax. During the first half of 2021 Bank’s Consolidated Earning Per Share stands at BDT 2.56 which was BDT 1.59 as compared to last year of the same period. Further, the second quarter ( April – June 2021) consolidated EPS stands at BDT 1.34 as compared to BDT 0.63 which is more than two times higher than the same period of the last year.
During the first half of 2021 Banks Net Asset Value (NAV) is BDT 27.97 per share and Operating Cash Flow per share stands at BDT 8.93 per share. At the same time Banks total Loans and Advances reached to BDT 329,810 million and deposit amounted to BDT 368,050 million. During this period Banks retained earning has increased by 222.53% and reached to BDT 3,838.1 million. As a result, the shareholder’s equity increased by BDT 3,426.4 million or about 12% to BDT 33,010 million. Southeast Bank is considered as one of the most efficient Banks in the industry in terms of cost efficiency.
The Board of Directors appreciated the performance of the Bank and thanked to all including the Managing Director of the Bank for satisfactory results in the second quarter of 2021 in spite of the pandemic situation and called upon them to continue this trend of success in the future.