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Dear Stakeholders,
Assalamu Alaikum Wa Rahmatullahi Wa Barakatuhu,
This is indeed a special year for us as DMCB crosses the 50-years landmark. We have come a long way and indeed have a longer road ahead. Our vision of a poverty-free Bangladesh remains the same. This occasion reminds me of a statement by the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman. In a speech at Suhrawardy Udyan on March 26, 1985, he said, “But one thing I want to say is that the new system will involve multi-faceted co-operatives in the villages.” Over the last 50 years, we have been striving to follow the path guided by our exemplary leader opening branches to help the rural people of Bangladesh. We now have 101 branches outside the Dhaka Division, aiming to meet the needs of people who lack access to finances and striving to improve their livelihoods.

With gratitude to Almighty Allah, The Dhaka Mercantile Co-operative Bank Limited (DMCB) achieved success in FY 2022-23, showcasing strong growth aligned with Bangladesh’s economic progress under Honorable Prime Minister Sheikh Hasina’s leadership.

Despite global challenges, Bangladesh’s economy remained resilient, achieving a 6.03% real GDP growth in FY’23. This growth reflects the country’s enduring economic strength.

While the economy faces inflation and exchange rate pressures due to ongoing geopolitical events, DMCB navigated uncertainties, demonstrating robust operational performance, disciplined cost management, and revenue growth. Our net profit surged by 55% to BDT 336.80 million, and the investment portfolio expanded by over 25% despite setbacks like the Bangabazar fire and Sylhet flood.

Our focus on investment in micro, small, and medium enterprises (MSMEs) continued, with MSME investments rising by 33% to BDT 29.68 billion, fostering economic development and inclusion. DMCB broadened its retail investment and consumer financing efforts, launching schemes for agriculture, education, homes, and women entrepreneurs, expanding banking access.

In FY’23, DMCB opened new branches and aims for more growth with four branches planned for FY’24, serving a growing member base through 147 branches nationwide.

Balancing investment and deposits, our deposit investment ratio rose to 96.10%. Our aggregate deposits grew over 15% to BDT 39.06 billion.

Since its establishment, DMCB has consistently prioritized social welfare over mere profit maximization. As the leading co-operative bank in the country, we allocate a substantial portion of our annual profits to conduct Corporate Social Responsibility (CSR) activities spanning various domains such as education, healthcare, sports and human resource development, among others.

All our future plans are crafted to unlock opportunities for our stakeholders, shareholders, and members. I hold a strong belief that DMCB will continue to reach new heights and sustain its growth trajectory.

I extend my sincere gratitude to all our esteemed members who have steadfastly placed their trust in DMCB throughout the years. I also wish to seize this opportunity to commend my colleagues for their unwavering commitment and tireless efforts. Moreover, I am profoundly appreciative of the guidance and strategic insights offered by our experienced and judicious Board of Directors and Advisors

I want to emphasize our steadfast commitment to implementing our business strategy, ensuring sustainable earnings growth, all in alignment with our noble vision of contributing to the construction of a poverty-free society.

In conclusion, I humbly submit to the magnificence of Almighty Allah, beseeching His mercy to steer us towards the exceptional and enduring success of DMCB in the days ahead

Thank you,
Shamsun Nahar Zafar
Managing Director