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RAKUB attains Tk22.95cr operational profit in six months

BSS . Rajshahi
14 Jan 2023 12:57:16 | Update: 14 Jan 2023 22:00:31
RAKUB attains Tk22.95cr operational profit in six months

Rajshahi Krishi Unnayan Bank (RAKUB) has attained operational profit worth Tk 22.95 crore during the first six months of the current FY23, up by Tk 19.31 crore in the corresponding period of the previous fiscal year.

The bank attained operational profit of Tk 3.64 crore during the first six months of FY22.

RAKUB Managing Director Md Zahidul Haque told BSS that they also attained operational profit worth Tk 44.8 crore in the 2021-2022 fiscal year overcoming the loss of Tk 3.10 crore incurred in the 2020-2021 fiscal year.

The bank has also dropped its net loss of Tk 211.79 crore from Tk 272.64 crore in the last fiscal year.

They attained profit as a result of the painstaking efforts of all officers and employees under a strong monitoring cell.

"We have arranged open loan disbursement programmes, loan fair, loan recovery grand camp and deposit collection fair in all 383 branches," he said.

Meanwhile, the bank disbursed agricultural loans of around Tk 1,954.17 crore aimed at increasing crop production and boosting the rural economy during the first six months of the current fiscal year.

The loans were disbursed through 383 branches in the country's northwest region consisting of 16 districts under Rajshahi and Rangpur divisions.

Apart from this, the specialised commercial bank also recovered loans of Tk 1,991.88 crore including classified loans of Tk 208.53 crore. It has collected deposits of Tk 657.94 crore during the same period.

Headquartered in Rajshahi, the bank has set a target of disbursing loans of Tk 3,250 crore during the current fiscal year.

Target has also been set to recover loans of Tk 3,526 crore, including classified loans with Tk 500 crore, and raise deposit collection to Tk 3,000 crore, Zahidul said.

All the zonal and branch managers were asked to infuse more dynamism into its all business activities including loan disbursement, recovery especially the classified loan and deposit collection for the benefit of both the bank and clients.

"We are very much hopeful about attaining the cherished targets of disbursing loans in all the scheduled sectors within the stipulated time," he added.

As the largest development partner in agriculture as well as the agro-based industry sector of northwest Bangladesh, currently, the bank has adopted the effective work plan which is being implemented at the grassroots level to make the credit programs easier.

"We have adopted special credit programmes for encouraging the people for setting up solar power, biogas and waste management plants for generating eco-friendly and alternative power to face the power supply deficit," he said.

"Credit is being extended to the sector on a priority basis."

Zahidul said the bank enhanced its lending activities in multipurpose potential fields for boosting agricultural production, intensifying food security and flourishing poultry and dairy sectors.

Small and marginal women entrepreneurs and others who were not capable of paying collateral are being given priority in terms of disbursing loans.