‘Pubali Bank an example of good governance’

Pubali Bank is a good example of practising corporate governance and the banks facing various problems can take lesson from this bank, said the bank’s outgoing Managing Director and CEO Safiul Alam khan Chowdhury.

Chowdhury started his career in the bank as probationary senior officer in 1983 and his tenure ended on Monday.

“I served at Pubali Bank for 39 years continuously and during my entire banking career the board of directors never forced the management team to do any work,” the veteran banker said to the Business Post in an interview.

Chowdhury completed his graduation and post-graduation from the Dhaka University and later served both at head office and branch offices of Pubali Bank in different capacities using his expertise for achieving the mission and vision of the bank.

While talking with the Business Post, he said that the current volatility in the foreign exchange market is the biggest challenge now and negative current account balance is another concern for the country.

Chowdhury said Pubali Bank, the largest private sector bank in Bangladesh, is relentlessly exerting its efforts to accommodate digital transformation in line with global changes, and the 4th Industrial Revolution.

Mentioning about the reputation of the bank, he said that one after another financial scams have hit the banking sector, but Pubali Bank is still free from any such malpractice.

Clients feel safe depositing their hard-earned money to the bank because of the bank’s trustworthy image in the sector, he added.

Pubali Bank has a strong capital base and a well-diversified line of business and deposit products with a very strong culture of regulatory compliance and risk management, said the outgoing MD.

Pubali Bank initially emerged in the banking sector in the then East Pakistan as Eastern Mercantile Bank Limited.

After independence of Bangladesh, in 1972, the bank was nationalised as per the government policy and renamed as Pubali Bank. Subsequently, due to changed circumstances, the bank privatised again in 1983 and renamed as Pubali Bank Limited.