2018-07-03 10:15:32 BdST

RAKUB earns Tk 40380m profit in FY17-18


Rajshahi Krishi Unnayan Bank (RAKUB) has earned Tk 403.80 million profit during the 2017-18 financial year (FY), up by Tk 270 million than the previous fiscal.

The state-owned specialised bank had made an operating profit of Tk 132.90 million in the 2016-17 fiscal year, RAKUB Managing Director Kazi Alamgir said.

Early in the FY17-18, the bank management had formulated a work plan and given direction to the field level workforce for its proper implementation in order to transform the financial institution into a profit- earning and self-reliant one.

Under the work plan, target has been set to disburse loan to the tune of Tk 19.00 billion and recovery Tk 18.00 billion through 380 branches.

The lender disbursed Tk 20.49 billion loan and recovered Tk 22.00 billion including classified loan. Deposit collection stood at Tk 49.00 billion till end of the fiscal.

Various innovative programmes like open agriculture loan disbursement, loan fair, loan recovery grand camp and deposit collection fair helped the bank attaining the success.

“We have been able to reduce the number of loss-incurring branches to 63 at the final stage of the financial year,” Kazi Alamgir said terming it a significant achievement.

As the largest development partner in all 16 northwest districts of Rajshahi and Rangpur divisions, RAKUB has been operating its banking activities targeting agricultural sector and all its sub-sectors.

The bank is going to install ATM booths for the first time in the rural areas aiming to spread modern banking services to the grassroots people.

 “I am very much hopeful about launching the village level booth services within this fiscal year,” Mr Alamgir said.

On successful promotion of the venture, people can avail the scope of drawing money in village atmosphere at any time based on their necessity that will bring a positive change in the rural living and livelihood condition.

He said the bank aims to reach all the modern banking services including online one to the rural people.

More than 300 out of total 380 branches of the bank are located in rural areas. This is an advantage of taking the modern services to the peoples’ doorstep quickly and effectively.

Already, computerisation process has been completed in all the branches and launching of online and SMS banking is now the matter of time.

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