|Message from Managing Director & CEO|
|Dear Respected Share Holders,|
It is indeed my great pleasure to welcome you all to the 36th Annual General Meeting of Pubali Bank Limited.
I take this opportunity to express my sincere thanks and gratitude to our valued customers,
partners and well-wishers for your continuous trust, support and co-operation with the Bank over the
years. I am pleased to report another outstanding year of success for Pubali Bank Limited amidst the
multi-faceted competitive milieu of banking sector of Bangladesh. I feel proud to present before you the
Annual Report of the Bank for the year 2018 along with the Audited Financial Statements for your review,
comments and approval.
Despite various challenges in the sector, our bank was well ahead in the rough competition securing the
third position in terms of profit earning due to our prudent business strategy and plan. During the year
2018, the bank generated a consolidated operating profit of BDT 927.34 crore approx. which was BDT
864.02 crore approx. in 2017 that means the bank registered an upward growth in profit of 7.33% while
profit after tax reached to BDT 362.70 crore which was BDT 5.71 crore in 2017. Its deposit reached to BDT
30,800.34 crore which is 13.86% higher than that of previous year. As a result, Return on Asset (RoA) and
Return on Equity (RoE) increased to 0.92% and 13.66% respectively. Our efficiency in cost management had
also been reflected in the reduction of cost to income ratio to 47.66% from around 48.18%. Through our
strict evaluation and careful monitoring of lending portfolio we managed to reduce the number of NPL from
8.68% to 5.46%. Our bank plays a vital role in the country's export and import business. Last year we handled
import and export business respectively worth BDT 15,571.37 crore and BDT 10,486.16 crore. Total assets
increased by 11.42% to BDT 41,022.57 crore and loans and advances increased to BDT 27,149.46 crore from
BDT 24,014.86 crore in the year 2018 with a positive growth of 13.05%.
Our bank practices corporate governance very strongly as we consider corporate governance as the corner
stone of our business. We solely rely on corporate governance that includes the processes, practices and
policies for transparency in any financial institutions to take formal decisions and to manage the bank with
utmost sincerity and honesty. As a strong advocate of sustainable growth, we ensure regular meeting of
Board of Directors, function of Board's sub-committees, fair financial reporting and a risk management
system as well as other pivotal principals of good governance.
Our Bank is of the view that the concept of corporate social responsibility upholds and looks after the
interests of both businesses and societies. There is no doubt that when CSR policy is integrated in any
financial institution's business model it draws positive publicity, wins the trust and loyalty of the consumers,
builds a long-term relationship with the customers and communities, and therefore, boosts the financial
success. As a part of our responsible business, Pubali Bank Limited gets involved in community-based CSR
initiatives to make a positive impact on the environment and stakeholders including consumers, employees,
investors, communities and others. Out of our responsibility toward the society we operate in, we give
financial help to various educational institutions including some prominent public universities of the country
to facilitate teaching and learning.
The business strategies and plans of a financial institution are materialized through its human resources. A
human resource of high quality is very important to achieve the desired outcome of any institution. Pubali
Bank Limited always pays high attention to making its human resources an asset for the Bank by providing
them with a solid foundation through various trainings, workshops and thus making them capable of facing
any challenges. The quality of the employees of Pubali Bank Limited is already recognized by the market. In
order to improve skill and knowledge of our officers and to keep them updated with the latest development
in the international and domestic banking and financial sector, we arrange trainings and workshops at
Financial inclusion or inclusive financing indicates making financial services accessible at affordable costs to
people from all walks of life. It aims to address the constraints that exclude people from participating in
financial activities. Generally impoverished and low income populace from the periphery of society remains
out of banking services due to unawareness and poverty. Our Bank, besides rendering usual banking
services, gives services to eye impaired people, garments workers, streets children, school goers and low
income people. Moreover, our branches are scattered mostly over the urban areas of the country.
We are confident that our strong financial position, our resources, diversified shareholders base and our
collective efforts and insight will help us to accomplish our Bank's Vision and Mission. I hope and believe that
the year 2019 will be a more vibrant and triumphant year for Pubali Bank Limited.
with warm regards
|MD. Abdul Halim Chowdhury
Managing Director & CEO
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