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Janata Bank’s profit rises by Tk 2.7b in 2020

  • Staff Correspondent
  • 11 August, 2021 12:00 AM
  • Print news
Janata Bank’s profit rises by Tk 2.7b in 2020

State-owned Janata Bank’s operating profit increased by Tk 2.72 billion in 2020 while its classified loans declined by Tk 8.67 billion.

Growth in the bank’s deposits also increased by 19.18 percent in 2020 which was higher than the banking sector’s average growth of 13.12 percent.

Meanwhile, growth in loans and advances of the state-run bank was 10.36 percent last year against average growth of 8.81 percent in the whole banking sector, says a release.

The announcement came at the 14th annual general meeting of the bank held through virtual platform in the capital on Monday, said a press release.

The bank’s Managing Director and CEO Md Abdus Salam Azad gave the detailed information about the bank’s business activities and financial indicators of 2020 at the meeting.

The value of the bank's credit rating rose one step to A + as Janata Bank played an important role in import-export trade and collection of remittances.

Dr SM Mahfuzur Rahman, Chairman, board of directors, presided over the meeting. Additional Secretary of the Financial Institutions Division Md Harun Aur Rashid Mollah joined the virtual meeting as the representative of the government.

At the beginning of the meeting, deep respect was paid to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and all of his family members who were brutally killed on 15 August, 1975.

Mahfuzur Rahman reiterated the commitment of the Prime Minister to implement the stimulus packages announced to rescue the financial sector which was damaged due to the ongoing Covid-19 pandemic.

For further development of the bank, he emphasised ensuring maximum customer service, optimal use of information technology, effective risk management and establishment of good governance at all levels.

Bank’s Director Ajit Kumar Pal, KM Shamsul Alam, Meshkat Ahmed Chowdhury, Mohammad Asad Ullah, Ziauddin Ahmed, Mohammad Helaluddin, Md Abdus Salam Azad, MD and CEO, Md Humayun Kabir, Honorary Observer of the Board, Md Jasim Uddin and Md Abdul Jabbar, DMD of the bank, CFO AKM Shariat Ullah, Company Secretary, Habibur Rahman Gazi and general managers of the bank were virtually connected with the activities of the meeting.