State banks report healthy performance

Janata Bank Managing Director Md Abdus Salam Azad says

Staff Correspondent

17 June, 2021 12:00 AM printer

Six state-owned commercial banks reported healthy performance in different areas including 36 percent reduction of their capital deficit during the January-March period.

Janata Bank alone was able to reduce its capital deficit to Tk 4.16 billion from Tk 54.75 billion.

Janata Bank reported the best performance of all other state-owned banks by reducing Tk 50.58 billion or 92.39 percent of their capital deficit during the period.

According to a report of Bangladesh Bank, the capital deficit of six state-owned banks fell significantly from December 2020 to March 2021.

 “Janata Bank has been able to achieve such a glorious success by the policy support of government,” said Md Abdus Salam Azad, Managing Director of Janata Bank, told the Daily Sun.

He attributed the success to Janata Bank officials at branches and policy makers.

“Policy makers and officials at different branches have done well in recovery of loans,” Janata Bank’s MD said.

Former Bangladesh Bank Governor Dr Mohammad Farashuddin expressed his optimism about the state-owned banks after the healthy performance.

“We are being optimistic for such a good performance of the state-owned banks and their officials,” he said.

He also attributed the success to Bangladesh Bank.

 “Policy support by the Bangladesh Bank also helped the banks reduce their capital deficit,” former central bank governor said.

He described the performance as “encouraging” given the pandemic facts and overall economic activities of the country.