RAKUB intensifies agro-based economy in northwest region

Rajshahi Krishi Unnayan Bank (RAKUB) has been contributing a lot towards bolstering the agro-based economy through financial investment in the country’s northwest region.

The specialised state-owned commercial bank has been providing loans to grassroots farmers to supplement the government’s efforts of making the country self-reliant in food production.

The Board of Directors of the bank revealed this while sharing their views in the 553rd board meeting with its Chairman Roisul Alam Mondal in the chair on Thursday.

Through its 383 branches at present, RAKUB has been operating its activities as the largest development partner in all the 16 northwest districts of Rajshahi and Rangpur divisions targeting the agricultural sector and all its sub-sectors.

As the largest development partner in agriculture as well as the agro-based industrial sector of northwest Bangladesh, currently, the bank has adopted an effective work plan which is being implemented at the grassroots level to attain all the targets within the stipulated time.

RAKUB has not only developed the agricultural sector in the country’s northwest region but also played a vital role in its industrialisation.

RAKUB Managing Director Zahidul Haque and Directors GSM Zafarullah, Sabirul Islam, Dr Abdul Hai Sarker, Nazrul Islam, Shah Alam and Abdur Rouf joined the meeting held at the RAKUB headquarters boardroom.

Zahidul Islam told the meeting that their bank has attained operational profit worth Tk 44.8 crore in the last 2021-2022 financial year overcoming the loss of Tk 3.10 crore incurred in the previous 2020-2021 fiscal year.

In addition to dropping neat losses 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.

The bank is bringing all existing agricultural potential sectors and sub-sectors under qualitative and quantitative investments to make the region’s agro-based economy more vibrant.

Zahidul Islam said loans worth Tk 3,183 crore, including classified loans of Tk 3,290 crore were disbursed against the target of 3,000 crore in the last fiscal besides mobilising deposits of Tk 6,757 crore.