Banks will be able to offer loans at lower interest rates to new customers if the bad loans can be recovered from the wilful defaulters, Dhaka Bank Chairman Abdul Hai Sarker has said.
The Dhaka Bank Chairman made the remarks while inaugurating a branch of the bank at Bashundhara Residential Area on Wednesday.
Bashundhara Group Managing Director Sayem Sobhan Anvir was the guest of honour on the occasion.
Sayem Sobhan Anvir thanked Dhaka Bank for its continuous support to Bashundhara Group, the country’s largest industrial conglomerate.
“We have been doing banking with Dhaka Bank for over a decade. They have always been supportive to Bashundhara Group to help the conglomerate achieve prosperity and growth. I hope they will continue to support us. I wish them all the best,” Sayem Sobhan Anvir said while addressing the function.
He also congratulated the board of directors of Dhaka Bank, especially Managing Director Emranul Huq for his excellent leadership, which helped the bank receive an award as the best bank in South Asia from the IFC (International Finance Corporation).
Dhaka Bank founder Vice-Chairman Hayatuzzaman Khan, Director Altaf Hossain Sarker, Managing Director Emranul Huq and Dhaka Bank Foundation CEO Arham Masudul Haque were also present on the occasion.
Expressing gratitude to Bashundhara Group Chairman Ahmed Akbar Sobhan, the Dhaka Bank Chairman said they opened the branch in Bashundhara Residential area with support from the Bashundhara Group Chairman.
“They (Bashundhara Group) made tremendous contribution to the development of the satellite city. Our university (IUB) is here. Banks are nothing without you (businesses). Bank means customers. They are most valuable to us. We will offer the best possible services as per the regulatory compliance of Bangladesh Bank,” Sarker added.
He also thanked the managing director of Bashundhara Group for joining the ceremony.
The Dhaka Bank chairman said the banking sector needs stronger regulatory action against the loan defaulters.
“If the government takes action against the loan defaulters, bad loans can be recovered fully. Then, we will be able to offer low-interest credit to new customers. Only strong regulation can recover the bad loans,” he said.
“We will also strengthen our presence in rural areas. Then we will expand our activities to other countries. We are working on it. Our bank has won several awards from international agencies including the IFC. Dhaka Bank dedicates itself to satisfying the needs of the customers as well as contributing to building the nation,” he said.
Dhaka Bank launched the branch in Bashundhara residential area to offer modern financial services to people of this prestigious neighbourhood in the capital. The branch will offer both conventional and Shariah-based products backed by digital platforms.
Dhaka Bank Managing Director Emranul Huq said Bashundhara is a vibrant residential area with universities, hospitals and offices of many multinational and local conglomerates.
“We want to become a bank for society and a bank of relationship. Since starting our journey in 1995, Dhaka Bank has been maintaining sustainable growth by setting up 108 branches and 21 sub-branches to serve the customers,” he said.
Emranul also highlighted the recent achievements of Dhaka Bank in the international arena as the bank received the Best Issuing Bank in South Asia award from the IFC.
Bashundhara Group advisor Abu Tayeb, chief coordinator to managing director Mohammed Golam, Sector-B head of banking Razib Samad were also present on the occasion.
North South University Vice-Chancellor Prof Atiqul Islam, Dhaka Bank Additional Managing Director Mohammad Abu Jafar and Deputy Managing Director AKM Shahnawaj also joined the event.
Dhaka Bank has also been recognised as ‘Best Corporate and Investment Bank of Bangladesh’ by global financial publication Asia Money. The Bank recently started financing SMEs under a digital platform.
The bank has set a target to disburse 30 per cent of its total outstanding loans to the small and medium enterprises and retail clients within the next year and 40 per cent by 2025, up from 20 per cent now.
Dhaka Bank accounts for 10 per cent of the financing in the power sector, which has increased electricity generation fourfold in the last decade.
Dhaka Bank introduced Robotic Process Automation (RPA) in 2019 as the first bank in Bangladesh. The system helped the bank run its operations efficiently when the country faced a lockdown during the first wave of the corona pandemic.
UiPath, a global software company based in New York, recognised Dhaka Bank with UiPath Automation Excellence Awards in December last year, also the first among the banks. RPA makes it easy to build, deploy, and manage software robots, which emulate human actions interacting with digital systems and software.