The stock dividend was declared at the 10th annual general meeting (AGM) of the bank held in Dhaka Wednesday, says a press release.

In the 2004, the bank made a net profit before tax of Tk114.61 crore, registering a growth of 38.22 percent over the last year, the AGM was told, which was presided by Azam J Chowdhury, chairman of the board of directors of the bank.

The bank's deposit rose to Tk2806.92 crore at the end of the year 2004 as against Tk2048.32 crore in 2003 registering an increase of 37 percent while risk asset portfolio increased to Tk2321.97 crore as on 2004 from Tk1649.22 crore in 2002 registering 41 percent increase, the release said.

The foreign exchange business volume also increased by 34 percent to Tk5624.88 crore as on 2004 from Tk4193.08 crore in the preceding year, the release added.