RAKUB makes profit after 10 years of consecutive loss

Rajshahi, July 14, 2015: After overcoming the consecutive loss in long 10 years, Rajshahi Krishi Unnayan Bank (RAKUB) has made operating profit worth Taka 32 crore during the just concluded 2014-15 fiscal, RAKUB sources said.

RAKUB had formulated a work plan early in the previous fiscal and sent its direction to the field level in order to transform the bank into a profit-earning institution along with self-reliant.

Under the work plan, the bank had set the target of disbursing loan worth Taka 1500 crore, recovering outstanding loan of Taka 1800 crore and lowering classified loan below to 25 percent in 2014-15 fiscal.

Against the target, the bank has disbursed loan of Tk 1536 crore, recovered Taka 1,827 crore and reduced the classified loan to 20 percent from 35 percent.

It has also mobilized deposit worth Taka 3626 crore. Headquartered in Rajshahi, the specialized commercial bank disbursed the huge loan through its 377 branches for boosting crop production and rural economy as well as generating employment through enhancing agricultural production in all the 16 districts under Rajshahi and Rangpur divisions.

Monjur Ahmed, Managing Director of RAKUB, here told BSS that the success has been attained through collective efforts of all the officers and staffs.

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

To build a poverty-free Bangladesh, he said the bank had enhanced its lending activities in multipurpose potential fields for boosting agriculture production, intensifying food security and flourishing poultry and dairy sectors to reduce protein deficiency.

He said the bank has been putting in its level best effort to establish a dynamic leadership along with accountability and transparency in all its activities to earn confidence of the clients.

We are giving more emphasis to enhancing credit flow towards exploring the potential sectors of the region,” Ahmed said.

He said the level best effort is on to ensure transparency and accountability in all the banking activities.

More than 200 branches have, so far, been brought under computerisation and all the 376 branches will be brought under the modern system by this yearend through which the bank will be enriched with various updated services like online banking, SMS banking and ATM booths, Monjur Ahmed expected. (Source: BSS)