The 19th Annual General Meeting of the People's Leasing and Financial Services Limited was held on Thursday June 25, 2015 at 11.00 AM at " RAOWA CONVENTION HELMET, Hall # 01, 1st Floor, VIP Road, Mohakhali, Dhaka - 1206". Capt. M. Moazzam Hossain, Chairman of the Company preside over the meeting. The directors and a large number of shareholders both sponsors and Public Shareholders attended the meeting.
The Chairman welcomed the distinguished shareholders to the 19th Annual General Meeting and placed before them the Annual Report-2014 which includes Director's Report, Auditor's Report and Audited Financial statements for the year ended December 31, 2014. The Chairman informed the shareholders that despite the slowdown in investment, rising inflation in the economy, stagnation in the Capital market, tight money market, political agitations, the company has achieved a profit of BDT 197.70 million in 2014. Operating income was BDT 2419.07 million which showed 27.28% growth from previous year. The Chairman highlighted that the company has shifted policy decision to mop up private deposits instead of being dependent on overnight borrowing deposits and term borrowings from Commercial Banks and Financial institutions. The company also took actions to increase investments and reduce impaired assets.
Considering overall performance, current financial strength of the company and to meet the expectation of the shareholders the Board of Directors has recommended 10% Stock Dividend for the year 2014 and placed the agenda before the shareholders and the same was passed by voice voting.
The Chairman assured the shareholders that the Board of Directors shall continue to work relentlessly to produce a better picture in Balance sheet for the year - 2015.
Finally, the Chairman thanked the Shareholders, Clients, Bankers, Regulatory bodies, the Press & electronic media, Law enforcing agencies, the management of RAOWA CONVENTION HALL for their kind support. He also thanked the Managing Director and the members of the Staff for their dedication, loyalty and untiring efforts to keep the flag of PLFS high.