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Business Insider Bangladesh

RAKUB earns near Tk 23cr operational profit in 6 months

BI Report || BusinessInsider

Published: 12:44, 14 January 2023  
RAKUB earns near Tk 23cr operational profit in 6 months

Photo: Collected

Rajshahi Krishi Unnayan Bank (RAKUB) has earned operational profit worth Tk 22.95 crore during the first six months of the current 2022-2023 financial year up by Tk 19.31 crore in corresponding period of the previous 2021-2022 fiscal year.

The bank attained the operational profit of Tk 3.64 crore during the first six months of the previous financial year.

BSS Adds: Md Zahidul Haque, Managing Director of RAKUB, told BSS that they have also 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.

Their bank has also dropped its net loss of Tk 211.79 crore from Tk 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.

Meanwhile, the bank disbursed agricultural loans of around Tk 1,954.17 crore aimed at increasing crop production and boosting 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 specialized 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 3000 crore, said Managing Director Zahidul Haque.

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.

"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.