Dear Viewers,

    I take great pleasure to welcome you all to the 28th Annual General Meeting of the shareholders of National Bank Limited, our beloved organization of choice which we belong to and boast of. We have gathered here in such a situation when inflationary pressure, volatile price situation of commodities in the globe, competitive credit growth which were supposed to affect adversely the operations of our Bank, but we could come out with enviable success bearing excellent operating results yielding higher profitability. This was possible due to our managing of operations conducted skillfully and grasping the opportunities prevailing in the country's trade, economy and commerce. Efficient risk management also contributed to our all round developement.

We focused on all key areas covering capital adequacy, maintaining good asset quality, sound management,

satisfactory earning and liquidity. As a consequence, it was possible for your Bank to post a record growth of 175.51 percent with Tk. 8,809.40 million pre tax profit in the year under review over the preceding year. The net profit after tax and provision stood at Tk. 6,860.34 million which was Tk. 2,070.47 million in the previous year registering a 231.34 percent rise. The total deposits increased to Tk. 102,471.83 million being 33.37 percent increase over the preceding year. Loans and advances stood at Tk.92,003.56 million in the year under report which was Tk. 65,129.289 million representing 41.26 percent rise over the preceding year. Foreign trade stood at Tk. 144,255.00 million in 2010 compared to Tk. 115,939.00 million, increased by 24.42 percent compared to that of the previous year. During 2010, the bank handled inward remittance of Tk.49,145.30 million, 10.73 percent higher than that of the previous year. Return on Equity (ROE) registered a 77.84 percent rise over the preceding year.

The Bank maintained capital adequacy ratio of 12.29% which was well above the statutory requirement. The earning per share (EPS) for the year 2010 was Tk. 15.55 compared to Tk. 4.69 in the previous year. The Bank contributed Tk. 1,375.04 million to the Government Exchequer in 2010 as a regular tax payer representing an increase of 0.66 percent over 2009.The ratio of non performing loan (NPL) to total advance stood at 3.96 percent which appears to be satisfactory in the country's present context. The Bank made adequate provision for classified assets with a view to reflecting a transparent and resilient state of affairs of the Bank.

We take pride to inform you that your bank was awarded "Certificate of Merit" for published Annual Accounts and Reports of the Bank for 2009 by ICAB in recognition to adequate disclosure of information and confirmation to international accounting standard.

The continuing success in the past, sustained through 2010, overcoming recessionary state and business adversity, was possible due to absolute confidence and trust on us by the depositors, borrowers, customers and other stakeholders. Your continued support made us courageous to undertake new ventures and challenges to move faster with our growing business and operations that contributed to remarkable result. As a continuing measures for new initiatives, product development and diversification, we also played a focused role in agriculture, SME and capital market that contributed to visible overall performance.

During the period of 28 years of operation your bank always put emphasis on customer care and made relentless efforts to ensure best possible services at reasonable cost. In order to meet the customers demands, we always attempt to develop and design suitable products and services. We do believe in the philosophy of "understanding customers and satisfying their needs better than the competitors" so as to have a better competitive edge. For facilitating transactions to provide services at the door steps of customers we have been focusing on strength of delivery channels or branch network through out the country. At present we have 145 branches under our branch network. In addition, our effective and diversified approach tc seize the market opportunities is going on as continuous process to accommodate new customers by developing and expanding rural, SME financing and offshore banking facilities. We have opened 10 branches and 5 SME/Agri branches during 2010.

Since inception NBL has always been playing a pivotal role i¬pioneering new ventures like Credit Card, RMG financing business, rural credit, foreign remittance through our overseas operations and Western Union Money Transfer etc. You would fee proud that your Bank started financing agri credit in Rajshahi to the marginal farmers in 1994 in collaboration with Barind Multi Purpose Development Authority which signify our Bank Management's farsightedness. We have already expanded our activities in this area significantly over time and covered vast areas of Rajshahi, Naogaon, Chapai Nawabgonj and Thakurgaon and thus we have contributed significantly to the socio-economic development of the rural Bangladesh.

The Bank also took a pilot project in 2007 in Sirajgonj for rehabilitating marginal farmers and weavers affected by devastating flood. I on behalf of the Board of Directors, feel prow to report that at the time of visiting Sirajgonj and Jamalpur, the honorable Governor of Bangladesh Bank highly applauded our efforts for rural and SME financing. He observed with appreciation that our approach would remain as a role model to be followed by other. And it has now become true.

Not only that we have concentrated our activities on business growth but also we have kept ourselves involed in activities related to corporate social responsibility. In line with that we formed NBL Foundation in 1989. In the same year, National Bank Public School and College came into being as a consequence of our endeavor to impart education. We are proud to remain associated with the development of education, healthcare sports, culture and always extend our hands to serve humanity during any natural calamity and disaster.

Dear Shareholders,

As we are committed to the continuing growth of our organization, we also wanted to share our financial success with you in a manner that we feel proud in steering our organization together. Keeping this in view, the Board of Directors proposed 95% stock dividend to the shareholders to be approved by you in this Annual General Meeting.

I once again thank our respected shareholders, customers, patrons and well wishers without whose supports and confidence we could hardly attain our mission.

I also take this opportunity to express my thanks to my colleagues in the Board. Their prudent policy suggestions and farsighted decisions made the Management optimistic and proactive to move forward with utmost confidence facing all challenges. Thanks to our management, committed work force and field level operators for their relentless efforts towards the success.

I express thanks and gratitudes to all regulatory bodies specially Ministry of Finance, Bangladesh Bank, Securities & Exchange Commission, Dhaka Stock Exchange & Chittagong Stock Exchange, for their continuous support, guidance and co¬operation.