Finance Minister AMA Muhith inaugurates the 513th branch of Rupali Bank at Madina Market in Sylhet town Friday. M Farid Uddin, managing Director of the bank, Badar Uddin Ahmed Kamran, Sylhet City Mayor, Dr. Ahmad Al Kabir, chairman of Rupali Bank were also present on the occasion.

The state-owned Rupali Bank’s excess liquidity reached Tk 12 billion after fulfilling the regulatory directive on cash reserve requirement (CRR).

This liquidity status of the bank was revealed at a function organised by the bank management on the occasion of the launch of its 513th branch at Madina market in Sylhet city Friday.

Finance Minister AMA Muhith inaugurated the branch as chief guest.

Muhith said the previous BNP-led government took initiatives to ‘destroy’ this bank in the name of sale to the private sector. “But, we have taken over the bank and supported it to restore its capital base,” Muhith said.

Acting secretary for the banking division, Amalendu Mukherjy said Rupali Bank was a ‘dying baby’ when the present government took office. The secretary said now this bank is lending in the call-money market on regular basis as its capital base has become stronger as a result of improved management.

“The bank has been maintaining CRR above the regulatory requirement (6 percent out of 19 percent of total paid-up capital as Statutory Liquidity Ratio) and its excess liquidity reached Tk 12 billion,” he said. He said the bank’s loan recovery has been improved and as result its classified loan gradually lessened.

The bank’s board chairman Dr Ahmad Al kabir said that there is a huge deposit potential in the Sylhet region and the bank has targeted that. “We want to mobilize a big deposit for big investment here (Sylhet),” he told local business personalities attended the inaugural ceremony.

Rupali Bank’s managing director M Fariduddin greeted that the bank came to the strong position by the cooperation of clients and dedicated hard works of its employees.

Local legislator Safikur Rahman and Sylhet city Mayor Badar Uddin Ahmad Kamran were also present on the occasion.