22nd ANNUAL GENERAL MEETING (AGM)
22nd Annual General Meeting (AGM)
In the 22nd Annual General Meeting (AGM) the shareholders have approved 5% stock dividend for the year 2014, which held on 16.04.2015 on Thursday at Trust Milonayaton, Dhaka Cantonment, Dhaka.
During the year 2014, FFL's portfolio has been increased remarkably. In the year 2014, the company financed in the corporate and semi corporate bodies and also given special emphasis on the SME sectors, women entrepreneurs, housing. Individual & Institutional Term Deposit has been increased from Tk. 3,643.45 million to Tk. 5,403.05 million, resulting, a significant growth in the Term Deposit Receipts collection during the year 2014. Bank Borrowing as on December 31, 2014 stood at Tk. 2,062.54 million as against Tk. 1,526.51 million as on December 31, 2013 showing a Increase of Tk. 536.03 million over the figure at the end of the preceding year. This was due to higher interest rate borrowings are adjusted by lower interest rate borrowings and our investment which was met mainly through core deposit (deposit from public) which feels confident and comfortable in extending fund to the company because of higher sustainability. There has also occurred a decrease of liability under the head of Advance Lease Rentals from Tk. 67.59 million to Tk. 56.89 million as on December 31, 2014.
The Company has already established a "Central Data Base System" in the Head Office for the safety and security of its data. This is done through required number of server and backup server in a separate room of head office with 24 hours continuous power backup system and Air conditioned environment.
Mr. A.Q.M. Faruk Ahmed Chowdhury, Chairman, First Finance Limited presided over the Annual General Meeting. Other Members of the Board along with high officials were also present in the 22nd Annual General Meeting. A significant number of the shareholders of the company were also present in the meeting. They have shared their view, experience and opinion in the 22nd AGM and which is fruitful for the company in the near future.