Mercantile Bank attains tremendous growth for efficient management
Mercantile Bank has attained tremendous progress within a short time because of its efficient board and management. During its 13 years of functioning, the board and the management worked together without any conflict or contradiction.
The Bank always runs its activities strictly following the guidelines of the central bank. None of the board members influence the administrative activities.
Abdul Jalil, Chairman of the Bank said this in an exclusive interview with daily sun.
The following is the details of the interview.
Daily sun: Would you please share with us the founding background of the Mercantile Bank.
Abdul Jalil: Mercantile Bank started its journey on June 2, 1999. At the start of its journey, I had to take the responsibility as chairman on request of every stakeholder. Since then, I have been holding the position with the decision of the board.
Daily sun: What improved services does your bank plan for the customer?
Abdul Jalil: Mercantile Bank always offers better services to its valued customers by introducing new and innovative planning. Presently, the bank has been offering NRB Banking, On-line Banking, ATM Card, SMS and SME services, Brokerage House etc to its customers considering their ever changing demands and choices.
Daily sun: Do you have any plan to add new products on the occasion of the 13th anniversary of the Bank?
Abdul Jalil: The Bank will launch new and innovative schemes as per the demand of the customers and keep pace with changes of the era. So, we have no separate planning, especially targeting the 13th anniversary.
Daily sun: What is the present loan and deposit position of the Bank? Is the board pleased with the existing position?
Abdul Jalil: At present, we have Tk 84.63 billion loan and Tk 112.42 billion deposit. The loan-deposit ratio is also in a good position. The board is also happy with the overall position of the Bank.
Daily sun: Would you please tell us the credit position in agriculture, SMEs, women entrepreneurship, and solar energy?
Abdul Jalil: For the year 2011-12, we have a target of disbursing Tk 1.43 billion as agriculture loan. So far, the Bank has distributed Tk 1.23 billion, which is 85 percent of the target.
Besides, it disbursed Tk 950 million crop loans out of the target of Tk 850 million for the year.
In the solar energy sector, the bank distributed Tk 7.50 million among 272 families of three Upazilas in Chittagong. In SME sector, a total of Tk 10.29 million has been distributed, of which women entrepreneurs were provided with Tk 330 million. Besides, the Bank so far disbursed Tk 550 million term loan.
Daily sun: Bangladesh Bank has categorised the responsibilities of the managing board members. Would you say whether your Bank maintains the central bank guideline?
Abdul Jalil: Mercantile Bank always runs its activities strictly following the guidelines of the central bank. None of the board members influence the administrative activities. That’s why there is no gap between the central bank and the bank management.
Daily sun: Bangladesh Bank has recently approved nine new banks who will start functioning soon. On the prevailing situation, do you think the approval of new banks is rational?
Abdul Jalil: Actually I don’t know the reason and background of approving new banks. But there are reasons to fear that some problems may arise with so many new banks. Particularly, there will be an unhealthy competition among the banks in term of deposit collection.
Daily sun: Would you please tell us about the CSR activities of the Mercantile Bank?
Abdul Jalil: We have established a foundation named Mercantile Bank Foundation aiming to run social activities side by side normal banking. Every year, we deposit 1 percent of the bank’s profit to the foundation. Under this foundation, we serve the causes of poor and destitute people. We have opened education scholarship, under which we provide Tk 100,000 to the poor but meritorious students who are unable to run their academic expenses. Under the CSR, we have so far provided Tk 2 million to Labour Foundation and Tk 5 million to Kidney Foundation. The Bank has built a separate room at the BIRDEM hospital, arranged transports to bangabandhu Sheikh Mujib Medical University (BSMMU), Noakhali Science and Technology University, an ambulance for Captain Mansur Hospital.
Besides, many poor individuals have been getting humanitarian support from our foundation.
The Daily Sun/Bangladesh/ 8th July 2012