RAKUB earns Tk 403m profit

4 July, 2018 12:00 AM printer

RAJSHAHI: Rajshahi Krishi Unnayan Bank (RAKUB) has attained an ever highest profit of Tk 40.38 million (40.38 crore) during the recently concluded 2017-18 financial year, up by Tk 27 crore than that of the previous fiscal.


RAKUB Managing Director Kazi Alamgir said the state-owned specialised bank had made an operating profit of Tk 13.29 crore during the last 2016-17 fiscal, reports BSS.


At the initial stage of the fiscal, 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 1900 crore and recovery Tk 1800 crore through 380 branches.


The bank disbursed Tk 2049 crore loan and recovered Tk 2200 crore including classified loan. Deposit collection stood at Tk 4900 crore 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 in the country’s northwest region targeting its agricultural sector and all its sub-sectors.


RAKUB is going to install ATM booths for the first time in 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,” asserted Alamgir while talking to news agency on Monday.


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.