Dhaka, Friday

19 July 2024

Business Insider Bangladesh

RAKUB disburses Tk 1,954cr farm loans in north-west region

BI Desk || BusinessInsider

Published: 14:34, 7 January 2023  
RAKUB disburses Tk 1,954cr farm loans in north-west region

Photo: Collected

Rajshahi Krishi Unnayan Bank (RAKUB) disbursed agricultural loans of Tk 1,954.17 crore for increasing crop production and boosting the rural economy during the first six months of the 2022-23 fiscal year.

The loans were disbursed through 383 branches of the bank in the country's 16 north-western districts under Rajshahi and Rangpur divisions.

BSS Adds: Apart from this, the specialized commercial bank also recovered loans of Taka 1,991.88 crore including classified loans of Taka 208.53 crore. It has collected deposits of Taka 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, said Md Zahidul Haque, Managing Director of RAKUB.

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 3000 crore, he 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 benefits of both the bank and clients, he said.

"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 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," said Haque, adding, "Credit is being extended to the sector on a priority basis."

He 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.

Haque also said they have attained operational profit worth Taka 44.8 crore in the last 2021-2022 financial year overcoming the loss of Taka 3.10 crore incurred in the previous 2020-2021 fiscal year.

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

They attained the profit as a result of 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.

He added that loans worth Taka 3,183 crore, including classified loans of Taka 3,290 crore were disbursed against the target of 3,000 crore in the 2021-22 fiscal.

They have also mobilized deposits of Taka 6,757 crore. "We have been able to reduce the number of loss-incurring branches to 87 from 151 in the last fiscal", he added, while talking to BSS on Thursday.

On March 23 last, RAKUB entered into the era of mobile App and internet banking aimed at bringing dynamism into its banking services.

With this breakthrough, clients of the bank are being benefited in many ways, including banking transactions anytime and from anywhere, bill payment of utility services and opening of new bank accounts from home.