directors' report - Dutch-Bangla Bank Limited

Sustainable dividend policy to ensure growth and
maximize share value
DBBL's dividend policy is designed in a way to ensure
sustainable growth of the Bank with strong capital
adequacy ratio which must maximize value for
shareholders. DBBL paid 33.33% stock dividend in 2009.
Election of the Directors
In terms of Article 113 of the Articles of Association of the
Company, at every Ordinary General Meeting, one-third
of the Directors for the time being or if their number is
not three or multiple of three, then the number nearest to
one-third shall retire from the office. Accordingly, as per
Article 114, Dr. Irshad Kamal Khan, Independent Director,
Dr. Syed Fakhrul Ameen & Mr. Chowdhury M. Ashraf
Hossain, Directors from the Depositors will retire by
rotation and they are eligible for re-election. Therefore,
they offered themselves for re-election.
In terms of Article 108 of the Articles of Association, Mrs.
Frey-Tang Yuen Mei, Barbara (nominated by M/s. Ecotrim
Hong Kong Limited) was appointed by the Board since
last Annual General Meeting held on March 25, 2010. Mrs.
Frey-Tang Yuen Mei, Barbara appointed since last Annual
General Meeting will retire from the office of the director
in this Annual General Meeting and she is eligible for reelection.
Accordingly, she offered herself for re-election.
Meetings of the Directors
Eight (08) Meetings of the Board of Directors and fifty
one (51) meetings of the Executive Committee of the
Board were held during the year under review. The Audit
Committee of the Board also held eight (08) meetings
during the year under review.
Appointment of Auditors
Our existing Auditors M/s. A. Qasem & Co., Chartered
Accountants (A Cooperating firm of
PricewaterhouseCoopers) has completed audit of 2010 as
first year of their audit and as per Bangladesh Bank's
BRPD Circular Letter No.12 dated July 11, 2001, they are
eligible for re- appointment. Accordingly, they have
expressed their willingness to continue as auditors for the
year 2011. The auditors will be appointed and their
remuneration will be fixed for the year 2011 by the
honorable shareholders in this Annual General Meeting.
Gratitude
The members of the Board of Directors of DBBL would
like to express their gratitude to all shareholders, valued
clients, patrons, all employees and well-wishers for their
continued support and cooperation, without which the
Bank would not be able to achieve its present amazing
position. We are also indebted to the Government of
Bangladesh, Bangladesh Bank, Securities and Exchange
Commission, Office of the Registrar of Joint Stock
Companies and Firms, the Stock Exchanges for their
continued support and co-operation.
We look forward for your continuous support and best
wishes for meeting the challenges that await us in days to
come.
With best regards
On behalf of the Board of Directors
Zahid Hossain Khan
Chairman