The 47th Annual General Meeting (AGM) of the Investment Corporation of Bangladesh (ICB) was held on 23 December through virtual platform. The meeting was presided over by Prof. Dr. Suborna Barua, Chairman of the Board of Directors of ICB. Md. Abul Hossain, Managing Director and other Directors of the Board of ICB attended the meeting. A significant number of shareholders were virtually connected to the meeting.
In the meeting, the Shareholders were informed about the various aspects of the Annual Report and Audited Accounts of ICB for the FY 2022-2023. They expressed their satisfaction with the performance of ICB and its pivotal role during the critical period of the capital market.
In the FY 2022-2023, ICB earned solo and consolidated (with subsidiaries) net profit of Tk.43.52 crore and Tk.77.58 crore respectively. In the meeting, the shareholders approved the annual accounts and the dividend of 2.5%cashand2.5% stock, as declared by the Board of Directors of ICB for the FY 2022-2023,which was5% cash and 5% stock in the FY 2021-2022.
During the period under review, ICB made an aggregated investment of Tk. 1614.01 crore in the capital market and recovered an amount of Tk. 1,177.53crore as dividend, margin loans, project loans and other loans/advances. The total transaction of ICB and its subsidiary companies in both the bourses was Tk.18,095.15 crore which is 44.87% less than that of Tk. 32,825.51crore in the previous year.
The shareholders appreciated the effort ICB is constantly undertaking to boost the confidence of the investors during this critical moment of the capital market. They further appealed to continue the ceaseless effort of the employees of ICB and its subsidiaries to the achievement of its mandated goals and proposed valuable suggestions to strengthen the role and position of ICB in the Capital market.
The Chairman of the Board of Directors and the Managing Director of ICB acknowledged with gratitude the cooperation and support received from the valued shareholders, Ministry of Finance, Bangladesh Bank, Bangladesh Securities and Exchange Commission, Stock Exchanges, Central Depository Bangladesh Limited and other stakeholders.
