The scam-stuck Sonali Bank earned net profit worth Tk 9.95 billion in the calendar year 2011. The bank earned an operating profit of Tk. 12.39 billion by deducting annual expenses amounting Tk. 33.41 billion from total income worth Tk. 45.81 billion.

The annual financial report of the bank for the said year was endorsed at the annual general meeting (AGM) of the bank at its head office in the city Thursday.

The annual financial report (AFR) showed that the bank has improved its performance in the areas of growth in loans and advances, deposit mobilisation, import and export and loan recovery while the classified loans has been decreased slightly.

Numbers of the bank’s loss incurring branches has reduced significantly to 66 in 2011 from 91 in the previous year. On the other hand, profit-earning branches increased to 1130 in 2011 from 1096 in the year 2010, according to the AFR.

The bank’s loans and advances grew by Tk. 59.89 billion or 20.93 percent totaling to Tk. 345.99 billion in 2011 from Tk. 286 billion in the previous year. Its deposit grew by Tk 55 billion or 11.52 percent that stood at Tk 533 billion in 2011 over Tk. 478 billion in the previous year (2010).

The growth in export rose by 9.08 percent or Tk. 6.73 billion totaling to Tk 80.87 billion over Tk. 74.14 billion in 2010. At the same time, import grew by 87.44 percent or Tk. 143.43 billion to Tk. 307.47 billion.

In 2011, the bank’s classified loans (CL) decreased to Tk. 61.58 billion from Tk. 68.31 billion in the previous year. As percentage of total loans, the CL came down to 17.80 percent in 2011 from 23.88 percent in 2010.

The amount recovered against bad loans was also higher to Tk. 21.86 billion in 2011 compared to Tk. 13.48 billion in 2010.

In the year 2011, the bank has opened nine new branches in both the rural and urban areas totaling the number to 1196.

However, the largest state-owned bank’s performance in remittance mobilisation was not satisfactory last year compared to other state-owned banks.

The AFR shows a negative trend in remittance mobilised in 2011 compared 2010. Last year, it has remitted foreign currency equivalent to Tk. 101.53 billion into the country while the amount was Tk. 104.37 billion in 2010.

While briefing journalists after the AGM, the bank’s chief executive officer (CEO) Pradip Kumar Dutta claimed that the bank had no shortage in CRR (Cash Reserve Requirement) and SLR (Statutory Liquidity Ratio), Amortization of foreign loans and capital adequacy as per the Bangladesh bank guidelines.

News: Daily Sun/Bangladesh/07-Sep-12

Sheikh Abdul Hai Bacchu has been re-appointed Chairman of BASIC Bank Limited for the next two years term.

Officials and employees of BASIC Bank Limited welcomed Sheikh Abdul Hai Bacchu for his re-appointment, said a press release Thursday.

They also thanked Prime Minister Sheikh Hasina, Finance Minister AMA Muhith and Bangladesh Bank Governor Dr Atiur Rahman for their time-befitting decision.

News: Daily Sun/Bangladesh/07-Sep-12

The government Wednes-day appointed Professor Santi Narayan Ghosh as the new chairman of the Bangladesh Development Bank Limited (BDBL) for next two years.

Ghosh has been serving as a director of the bank since its inception. He is also currently serving as the treasurer of the Bangladesh Open University, a BDBL press release said.

News: Daily Sun/Bangladesh/07-Sep-12

NCC Bank Limited has donated Tk 3.5 million to Kidney Foundation Hospital and Research Institute to furnish a women ward at the hospital.

Md Nurun Newaz Salim, Chairman of the bank, handed over the cheque to Prof Harun-Ur-Rashid, President of Kidney Foundation Hospital at a ceremony at the hospital premises in Dhaka recently, said a press release.

News: Daily Sun/Bangladesh/07-Sep-12

Islami Bank Bangla-desh Limited (IBBL) has organised its board meeting at the bank’s premises in Dhaka Thursday.

Prof Abu Nasser Muhammad Abduz Zaher, Chairman of the bank, presided over the meeting, said a press release.

The members of the board expressed satisfaction overall performance of the bank and took some important business decision at the meeting.

News: Daily Sun/Bangladesh/07-Sep-12