Janata Bank will adopt a more cautious policy
June 27, 2022 10:29:34
State-owned commercial bank Janata Bank Limited (JBL) plans to adopt a more cautious policy when screening borrowers in the coming days to help boost profitability.
The bank will also prioritize the agriculture, energy and CMME sectors to provide loans in line with the government’s policy to support them.
This was seen during the bank’s 15th Annual General Meeting (AGM) held at its headquarters in the city’s Motijheel district on Sunday.
JBL Chairman, Dr. SM Mahfuzur Rahman, chaired the AGM while JBL Managing Director and CEO, Md. Abdus Salam Azad, delivered a keynote address.
Financial Institutions Division Additional Secretary Mofiz Uddin Ahmed, JBL Directors Ajit Kumar Paul, KM Shamsul Alam, Mohammad Asad Ullah, Ziauddin Ahmed, Md Abdul Majid, Rubina Amin and Meshkat Ahmed Chowdhury were present at the meeting.
Md Humayun Kabir, Observer appointed by Bangladesh Bank, Md Abdul Jabbar, Deputy Managing Director of JBL (DMD), Sheikh Md Zaminur Rahman, Md Asaduzzaman, Md Quamrul Ahsan, Md Nurul Alam, Chief Financial Officer, MHM Jahangir and other general managers also joined the AGM. , among others.
Speaking on the occasion, Dr. Mahfuzur Rahman said the bank has made remarkable progress over the past three years in recovering from adverse situations.
He commended the roles of bank staff representing at different levels.
JBL Managing Director Abdus Salam Azad said the bank’s deposits exceeded Tk 1 trillion last year, marking an increase of more than 23%.
The bank made a net profit of over Tk 3.0 billion in 2021, which was significantly higher than just Tk 140 million the previous year.
The bank’s chief executive also said that the bank’s classified loan fell from 22.69% to 17.61%.
“Since the bank has taken a strong stance against defaulters and increased monitoring, the amount of classified loans will gradually decline,” he said.
Earlier, senior officials of the bank paid tribute to the portrait of Father of the Nation Bangabandhu Sheikh Mujibur Rahman located in the premises of the bank.