Three former directors have rejoined the board of Southeast Bank after being removed in 2022. The reappointment occurred following a government change, and they participated in the bank’s 29th Annual General Meeting (AGM) on Wednesday, where the current chairman and two other directors resigned. Allegations of irregularities have surrounded the bank’s leadership, including claims of improper lending practices. The bank’s board has undergone changes, with one of the reinstated directors also becoming the chair of the North South University trustee board after previously being removed in August 2022. Following their reappointment to the Southeast Bank board, one director has assumed the position of executive committee chair. The AGM, chaired by the outgoing chairman, approved a 10% dividend for shareholders, which includes 6% cash and 4% bonus shares. Additionally, the names of the directors have been removed from the bank’s website, with plans to update it once committee formations are finalized. Despite attempts to contact the bank’s managing director for comments, there has been no response.
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