Dr. Abul Barakat, Chairman of Janata Bank Limited, speaks at the 5th AGM of the Bank at the Bank’s head office in Dhaka.

Janata Bank is looking for Tk 18 billion as operating profit in 2012 after earning Tk15.72 billion in 2011, the 5th Annual General Meeting of the bank revealed the figures Tuesday.

According to the meeting, the Bank in 2011 has also been able to keep classified loan as low as 5.60 per cent.

Among others, Chairman of Janata Bank Ltd Dr. Abul Barakat addressed the AGM held at the Bank’s head office in the city.

Joint Secretary of Banking Division Gokul Chandra Das also attended the function.

Dr. Barakat said the conception that the state-run organisations are not efficient in making profit now proved wrong. “The amount of profit earning of Janata proves that the state-run enterprises are not inefficient.”

He sought policy support from the government to continue business expansion of the country. “The government will not do business but ensure suitable environment for growing businesses.”

The noted economist also thinks that the government needs to have financial solvency which it can attain through the entities like state-run commercial banks.

Dr Barakat, also the President of Bangladesh Economic Association (BEA), said that the state-run banks not only hanker after profit, rather they have to serve social causes. “JBL holds 3rd position in conducting corporate social responsibility (CSR).”

The Bank’s chairman said JBL’s interest-free credit programmes at the areas affected by cyclones Aila and Sidr as well as in Monga-hit regions were very effective.

“Now the government is mulling to include interest-free credit programmes in national policy.

News: Daily Sun/Bangladesh/30-Aug-12