The operating profit of United Commercial Bank Limited (UCBL) during calendar 2010 surpassed the target set for the year by Taka 1.0 billion to Tk 5.05 billion.

This is a 55 percent growth over the previous year.

The bank earned Tk 3.25 billion as operating profit in 2009 and the target set for the year 2010 was Tk 4.0 billion, according to the bank’s annual report.

The report showed a steady growth in the operating profit of the bank over the last ten years.

The operating profit of UCB in 2001 was recorded at Tk 5.03 billion while the deposit in the same year amounted to Tk 14.245 billion. It stood at Tk 113.19 billion in 2010.

Being in operation for the last 27 years, its number of profit earning branches reached 105 out of the total 107 across the country, the report stated.

This was revealed at a function styled ‘Annual Business Conference 2011’ organised by the bank at a city hotel yesterday.

Chairman of UCB MA Hashem addressed the function as the chief guest.

He called upon the branch managers to continue all out efforts to further accelerate the growth of the bank with highest professioalism.

UCB chairman laid emphasis on expanding small loan products such as SME and retail lending to minimise the defaulting risk which is widely present in cases of big loans.

MA Hashem also asked the senior officials to take initiative for introducing separate merchant banking, brokerage house and Islami banking services to earn more profit.

He expressed his hope that the target of earning Tk 6.50 billion operating profit set for the current year would be exceeded by Tk 8.0 billion.

Vice Chairman Kazi Enamul Hoque, Chair-man of Audit Committee Md Jahangir Alam Khan, Directors Saifuzzaman Chowdhury, MA Sabur, Hajee MA Kalam, Sabbir Ahmed, Sharif Zahir, Sultana Rezia Begum, Tanvir Khan, Nasim Kalam, Bazal Ahmed, Qamrun Nahar and Nurul Islam Chowdhury were also present.

Earlier, Managing Director of UCB M Shahjahan Bhuiyan deli-vered the welcome speech.

The managers of successful branches were also awarded at the function.

Source: Daily Sun/Bangladesh/ Jan-09-2011