NCC Bank declares 13% cash dividend

National Credit and Commerce Bank PLC (NCC Bank) has declared a 13 percent cash dividend for the financial year that ended on December 31, 2024.

The announcement was made during the bank's 40th annual general meeting (AGM), which was held virtually on Wednesday, according to a press release.

Md Nurun Newaz, chairman of the bank, presided over the meeting as the chief guest.

In his address, Newaz highlighted NCC Bank's consistent business progress, noting that both shareholders' equity and total assets continue to grow steadily—reflected positively in the bank's credit ratings and CAMELS rating.

He emphasised that instead of pursuing aggressive expansion, the bank is focusing on maintaining asset quality, increasing low-and no-cost deposits, reducing the cost of funds, and boosting income from commission-based services.

He added that the bank's sustained positive performance is underpinned by its commitment to transparency and accountability, adoption of advanced technologies, and focus on delivering exceptional customer service, a strategy that will remain central to the bank's future direction.

Abdus Salam, vice-chairman; Amjadul Ferdous Chowdhury, Syed Asif Nizamuddin, Khairul Alam Chaklader, Md Moinuddin and Mohammed Sazzad Un Newaz, directors; Meer Sajed-Ul-Basher, independent director and chairman of the audit committee; and Md Amirul Islam, independent director; joined the meeting.

A large number of shareholders from across the country also participated in the AGM virtually.

The audited financial statements, together with the auditors' report and the directors' report, were approved by the shareholders.

M Shamsul Arefin, managing director, remarked that the bank has earned recognition as a sound and trustworthy financial institution, valued by both stakeholders and clients for its strong financial performance.

He also underscored the importance of digital microfinance as a means to reach marginalised communities, thereby promoting financial inclusion and ensuring that no one is left behind.

Among others, M Khurshed Alam, additional managing director; Md Mahbub Alam, Md Zakir Anam and Mohammed Mizanur Rahman, deputy managing directors; and Md Monirul Alam, company secretary; were also present.