Janata Bank: Celebrating 50 Years of Achievements

Md. Abdus Salam Azad, CEO and Managing Director looks back on decades of success

4 May, 2021 12:00 AM printer

Janata Bank: Celebrating 50 Years of Achievements

Md. Abdus Salam Azad

Under the Bangladesh Banks (Nationalization) Order 1972, 12 private banks were reconstructed and merged into six nationalized banks. Former United Bank Limited and Union Bank Limited were merged into Janata Bank. It is mentionable that Father of the Nation Bangabandhu Sheikh Mujibur Rahman himself named this bank with pure Bangla word “Janata”.

This year Bangladesh is observing Golden Jubilee of its independence. With the passage of time, Bangladesh is now recognized as the Role Model of economic development under the leadership of Honorable Prime Minister Sheikh Hasina, the quite competent and very worthy daughter of Bangabandhu, the Father of the Nation. A developed Bangladesh was actually the dream of Bangabandhu and his daughter is on the way to fulfil it. By this time, the country’s size of GDP, per capita income and the size of national budget have now become 48 times, 22 times and 723 times higher than they were in 1972 respectively. Moreover, the number of banks and bank branches increased 10 times than it had been before.

Janata Bank got corporatized as Public Limited Company in 2007. As the second largest state-owned commercial bank, it has successfully participated in implementing all sorts of development policies adopted by the government as a committed partner.

Some Achievement Highlights

l               Total asset of the Bank Tk.1,04,000 Crore

l               Number of Depositors: 91 lac

l               Number of Borrowers: 4.50 lac

l               Around 100 Loan Products under different Sectors and sub-sectors

l Market share of Loans and Advances 5%

l               Corporate Credit Rating of the Bank is AAA (offer highest safety and have highest credit quality)

l               Among 916 branches, 4 are overseas branches.

l               Well-organized Staff College in the capital and four Regional Staff Colleges.

l               Lending Priorities: Labor Intensive industry, Power Sector, ICT Sector, SME, CSME, Agro-Processing Industry, Micro Credit and other special credit for poverty alleviation as part of achieving SDG 1

Investments: Contribution to GDP and Employment Generation

For overall trade expansion and to create employment opportunities, Janata Bank has already invested Tk. 60,000 crore among 4.5 lakh borrowers both in public and private sectors including the NGOs. The main export-oriented sectors of Janata Bank Limited are RMG, textile and leather industries. Moreover, the bank has invested in various sectors like agriculture, power and gas, ship breaking, ship building, trade services, different manufacturing industries, infrastructure development, SME, CMSME and others.

Digital Banking

The current government is committed to make “Digital Bangladesh”. As part of it, Janata Bank is the first to respond in digitalization of banking services. It has already implemented CBS in all modules, Bangladesh Automated Clearing House (BACH), Real Time Gross Settlement (RTGS) and Bangladesh Electronic Fund Transfer Network (BEFTN). A pilot project “Easy JANATA” is going on under the guidelines of a2i program of the Prime Minister’s Office.

Contribution to Foreign Currency Reserve

To boost foreign remittance earning, Janata Bank Ltd. has 4 overseas branches in UAE, 2 exchange houses - one in USA and another in Italy having two branches in Rome and Milan, Taka Drawing Arrangement and Correspondent Relationship with world famous exchange companies, agencies and banks. Janata Bank has adopted all advanced digital payment systems for the beneficiaries like Speedy Foreign Remittance Payment System, Instant Cash payment system, Spot Cash, Web-based and others. Janata Bank has extended loan facilities against all types of Wage Earner’s Bond.

Janata Bank has been awarded “Remittance Award” several times for excellence in remittance services.

Social Safety Net Programs

After a commendable performance in achieving MDGs, Bangladesh is now working for SDGs. The SDG1 and SDG2 mean No Poverty and Zero Hunger respectively. As part of achieving these two goals, Prime Minister Sheikh Hasina undertook several social safety net programs. Janata Bank Limited is one of the leading banks to implement this program. Janata Bank has disbursed Tk. 86 crore among 5.75 lakh people as old-age allowance, around Tk 44 crore among 1.99 lakh persons as allowance for disabled and about Tk 33 crore among 2.20 lakh widows as widow allowance.

National Integrity Strategy

The current government’s another mentionable mission is to introduce National Integrity Strategy (NIS) to make a corruption-free Bangladesh. NIS is a key driver to get rid of corruption beyond the system of prosecution. Janata Bank Limited is seriously launching NIS as per guidelines of the Bangladesh Bank.

Financial Inclusion

Under the guidelines of financial inclusion of the current government, Janata Bank Limited has ensured all kinds of banking services to the lower income group. For this purpose, Janata Bank has already opened about 2 lakh farmers’ accounts.

Activities during Covid-19 Situation and its Stimulus Packages Disbursement

From the beginning of Covid-19 pandemic, the bank has been ensuring its smooth services according to the direction of the FID and Central Bank as a front fighter. Among all other banks, Janata Bank was first to respond to disburse the “Stimulus Packages” provided by the Govt. during the pandemic. Even in lockdown, as essential financial service provider, top management and executives of the bank registered full attendance, neither a branch nor a controlling office was closed, and all the meetings of BOD and other committees of the bank were held as per regular schedules.

CSR activities since 2010

We are implementing several CSR programs since 2010 that include:

l               Interest-free loans to the marginal farmers in Aila, Sidr and Monga-affected areas.

l               Interest-free loans to the disabled people across the country.

l               Blankets distribution among the cold-affected, distressed people across the country

l               Plantation program

l               Act as member secretary of the Day Care Centre operated under guidelines of BB

l               A Book named “Ekattorer Bir Joddhader Obishmoronyo Jibongathha” on 626 award recipient freedom fighters was published by Janata Bank Limited in 2013.

l               BOD of Janata Bank Ltd granted an annual budget of Tk 10 crore for CSR activities in various fields such as education and research, health and treatment, poverty reduction and rehabilitation, history, culture and sports, information technology, natural calamity, protection of environment and green finance etc.

l               Janata Bank stood top among SOCBs in CSR activities in several years.