United Commercial Bank Ltd (UCBL), a private sector commercial bank has achieved remarkable progress during last fiscal year and maintained it success this fiscal overcoming its previous weaker position.

The Bank has earned Tk 6.07 billion operating profit in the year 2011, marking an attractive growth of 138.04 percent.

Considering the overall performance, especially the upward trend of most of the key indicators, the Bangladesh Bank has de-listed the from “Early Warning” category in June 2011, Bank sources said.

The Bank has Tk 139.48 billion deposit which was Tk 113.07 billion in the previous year.

In three years, the Bank has gained a remarkable 2323 percent growth in terms of its paid-up capital as it was Tk 7.27 billion as on 2011, jumping from Tk 300 million in 2008. The paid-up capital, however, was Tk 1.19 billion in 2009 and Tk 2.91 billion in 2010.

At present, the Bank has Tk 16.15 billion shareholders’ equity, gaining by 268.72 percent while the amount of loans and advances is Tk 114.87 billion with 158.43 percent growth over the year 2008.

In 2011, the Bank made export transactions of Tk 76.96 billion and import of Tk 90.92 billion, the source said.

Expatriates channeled Tk 16.80 billion through UCB in 2011. In the previous year it was Tk 5.45 billion.

Gaining 4.45 percent growth in terms of Capital Adequacy Ration (CAR) in 2011, the Bank had 10.80 percent CAR which in 2010 was only 6.31 percent.

The Bank’s Non-Performing Loan (NPL) has come down to 1.80 percent from 4.62 percent in 2008.

At present, the Bank has a total of 120 branches across the country and 2982 employees. In terms of setting up new branches the Bank achieves 42.86 percent while in new recruitment it gains 42.54 percent growth.

The employees of the Bank feel that the dynamic leadership as well as enriched experiences of the present Managing Director M Shahjahan Bhuiyan has been playing tremendous role in achieving rapid progress and putting the bank gradually on a firm footing.

M Shahjahan Bhuiyan, a well acclaimed banker, has already been able to bring the Bank out from the bad repute of problem Bank and putting his best efforts in placing the Bank in the row of an acceptable and dependable commercial bank.

He has applied some innovative ideas to accelerate the banking activities. As part of it, the Bank has raised Tk 4.36 billion through issuing rights shares during March-April 2011.

M Shahjahan Bhuiyan, who has just won the “Best Banker Award-2010,” newly initiated by the Bangladesh Institute of Bank Management (BIBM) and the Institute of Bankers Bangladesh said (IBB), told daily sun that the very exceptional performance that are visible in UCBL today was possible as a strong corporate governance concept was established in the bank management.

He said that the successful operation and growth depends upon the quality governance. Absence of good governance in many cases create obstacle in the way of institutional advancement.

He also believed that, the honest, skilled, responsible and experienced managing board can play most significant role behind the success of institutions like any bank. The expected success is possible to achieve through the collective efforts both from the management board and the operational body.

He, however, hoped to establish the UCB as one of the leading commercial banks within short span of time through the guidelines and cooperation of the management board.

The Daily Sun/Bangladesh/ 16th Feb 2012