Ali Reza Iftekhar (Center) Managing Director and CEO of EBL holding the crystal trophy of Best Retail Bank in Bangladesh for 2015 at The Asian Banker's International Excellence in Retail Financial Services 2015 Awards ceremony in Singapore. Nazeem A. Choudhury (Second from left), Head of Consumer Banking of EBL, Philippe Paillart - Chairman, Excellence in Retail Financial Services Programme (Extreme left), Foo Boon Ping - Managing Editor, The Asian Banker (extreme right) are also seen in the picture.

M Shahjahan Bhuiyan & Md Nazrul Huda

Md Nazrul Huda and M Shahjahan Bhuiyan have recently been appointed as independent directors of Bank Asia, the bank said in a statement yesterday.

Huda served Bangladesh Bank for 35 years in different capacities, including as a deputy governor of the bank, according to the statement.

He is an economics graduate from Dhaka University and he also studied at the University of New England, Australia. 

Bhuiyan is a former managing director of Prime Bank and United Commercial Bank. He brings four decades of banking experience to the new post. His banking career started with the erstwhile State Bank of Pakistan.

The trouble-hit BASIC Bank incurred a highest loss of Tk2,686 crore in 2014 because of spillover effects of loan scams of the previous years.

“The bank has finally shown the accumulated loss of the previous years at the end of the last year as the prior board had earlier concealed the actual picture of financial condition of the bank”, said BASIC Bank Chairman Alauddin A Majid while talking to the Dhaka Tribune.

“Although the amount of loss incurred in the year 2014 seems to be unusually high, we just tried to give a clear picture about the health of the bank,” he said. 

Of the other state-owned banks, Sonali Bank made net profit of Tk492 crore, Janata Bank Tk394 crore, Agrani Bank Tk377 crore, Rupali Bank Tk46 crore while BDBL Tk143 crore in the last year.    

The state-run BASIC bank had to meet the provision shortfall in last year, which also pushed the net loss to a higher level, said a senior executive of Bangladesh Bank.

The provision shortfall of the bank stood at zero at the end of the year 2014, which was Tk789 crore in the previous year, according to the central bank data.  

The bank plunged into a loss of Tk53 crore for the first time in the year 2013 since its inception, compared to the net profit of over Tk2 crore in 2012.

The loss increased by 153.52% during last year as the bank witnessed a negative growth with the piling of the default loans over the years.

The operating loss of the BASIC bank was around Tk111 crore in the last year compared to operating profit of Tk147 crore in the previous year.

The bank has failed to get any income from more than half of its assets, which turned into default for last two years, said another senior executive officer of the central bank.

As the provisioning requirements of the bank are increasing as well as default loans, it badly hit the earnings of the bank, he said.

He also observed: “The interest income has accumulated to the suspense account as the bank could not show the interest in the income statement.”

The default loans of the bank rose to 53.32% or Tk6,310 crore at the end of the year 2014, more than half of the total assets of Tk11,834 crore, according to the Bangladesh Bank data.

The interest to the suspense account rose to Tk419 crore during the last year compared to Tk173 crore in the previous year.

Both the return from asset and equity deteriorated further to negative 15.70% and 210.66% respectively in the last year compared to negative 0.34% and 8.80% in the previous year.

The capital shortfall of the bank stood at Tk2,223 crore at the end of the year 2014. Though the bank got the capital support of Tk790 crore from the government on December 29 last year, it did not reflect in the annual balance sheet. 

Attending a recent meeting with Bangladesh Bank, BASIC Managing Director Khondoker Md Iqbal expressed his hope that the financial picture of the bank would changed by June this year after adjusting the government fund.

The bank rescheduled loans of around Tk3,000 crore during last two years, taking advantages of relaxed rescheduling policy, according to the central bank data.

Of the amount, loans over Tk1,725 crore were rescheduled during last year and Tk1,151 crore were rescheduled in the previous year.

A Bangladesh Bank inspection detected many irregularities in four branches of state-owned Basic Bank-Motijheel, Shantinagar, Dilkusha and Gulshan branches that involved loans of nearly Tk4,424.93 crore between December 2009 and November 2012.

Dhaka: National Bank Training Institute and Credit Administration Division of the bank organized a day-long workshop on ‘ISS Reporting to Bangladesh Bank’ at NBTI in the city recently. A total number of 51 executives and officers from it’s head office and A/D Branches of the bank attended the workshop. Shamsul Huda Khan, Managing Director & CEO of National Bank Limited was present in the workshop as chief guest. Abdul Hamid Mia, Deputy Managing Director and Mohammed Nazrul Islam, SEVP & head of CAD of the bank was present as special guest. National Bank mission is to efforts for expansion of our activities at home and abroad by adding new dimensions to our banking services are being continued unabated. Alongside, we are also putting highest priority in ensuring transparency, account ablility, improved clientele service as well as to our commitment to serve the society through which we want to get closer and closer to the people of all strata. Winning an everlasting seat in the hearts of the people as a caring companion in uplifting the national economic standard through continuous upgradation and diversification of our clientele services in line with national and international requirements is the desired goal we want to reach. National Bank vision is to ensuring highest standard of clientele services through best application of latest information technology, making due contribution to the national economy and establishing ourselves firmly at home and abroad as a front ranking bank of the country are our cherished vision.
Shahjalal Islami Bank Limited (SJIBL) commenced its commercial operation in accordance with principle of Islamic Shariah on the 10th May 2001 under the Bank Companies Act, 1991.
During last thirteen years SJIBL has diversified its service coverage by opening new branches at different strategically important locations across the country offering various service products both investment & deposit. Islamic Banking, in essence, is not only INTEREST-FREE banking business, it carries deal wise business product thereby generating real income and thus boosting GDP of the economy. Board of Directors enjoys high credential in the business arena of the country, Management Team is strong and supportive equipped with excellent professional knowledge under leadership of a veteran Banker Farman R. Chowdhury.

 first Managers' conference-2015 of Chittagong region of Pubali Bank Limited was held recently. Safiul Alam Khan Chowdhury, Deputy Managing Director of the Bank was present as Chief Guest.

The 1st Managers' Conference- 2015 of Chittagong Region of Pubali Bank Limited was held recently. Safiul Alam Khan Chowdhury, Deputy Managing Director of the Bank was present as Chief Guest. GM & Chief Technical Officer Mohammad Ali was present as Special Guest. General Manager of Chittagong Principal Office Syed Abdul Mazid presided over the conference.

In his speech Mr Safiul Alam Khan Chowdhury emphasized on expansion of foreign remittance business through better customer & modern banking service. He said, "The range of the economy of Bangladesh is increasing as world economy is doing the same. Banking sector is playing the lead role here. He urged all to work sincerely in this competitive banking sector, said a statement.