The 14th annual general meeting of shareholders of Askari Commercial Bank Limited was held on March 30 in Rawalpindi. The shareholders approved the audited accounts for the year ended December 31, 2005 and payout comprising of cash dividend @ Rs1.50 per share and bonus shares @ 33 percent.
The shareholders appreciated the performance of the bank during 2005 on producing after-tax profit of Rs 2 billion and EPS of Rs13.42 per share. Total assets of the bank grew by 35 percent to Rs 145 billion while deposits grew by 43 percent to Rs 119 billion at end 2005.
The meeting was chaired by Lieutenant General Zarrar Azim (Retd), managing-director, Army Welfare Trust - sponsors of Askari Bank. Also present on the occasion was Shaharyar Ahmad, president (designate) Askari Bank, directors and key officials.-PR