Janata Bank earns more than its profit target
Sunday, 14 February 2010
FE Report
Janata Bank Limited (JBL), a state-owned commercial bank, earned a profit of Tk 8.60 billion (860 crore) against its target of Tk 8.50 billion in the year 2009.
The bank has taken a target of making profit of Tk 10.50 billion in the current year (2010).
This was disclosed at the third annual general meeting (AGM) of JBL at a city hotel Saturday.
Dr Mashiur Rahman, economic advisor to the prime minister, was present as chief guest while Dr Abul Barkat, chairman of the bank, presided over the meeting.
"The state-owned commercial banks should think about corporate social responsibility (CSR) along with earning profit," Mashiur Rahman said.
The government could offer income tax exemption in case of the bank providing interest-free loans to the poor, landless and marginal farmers under the CSR programme, he said.
The bank report said its authorised capital is Tk 20 billion, paid up capital Tk 5.0 billion while reserved capital Tk 8.85 billion.
On the other hand, the deposit of the bank stood at Tk 240.91 billion. The bank disbursed loans amounting to Tk 166.38 billion, realised classified loans worth Tk 6.26 billion and the rate of classified loans was reduced to 8.45 per cent as against 10.92 per cent of the previous year.
Shahidullah Mia, joint secretary of the finance ministry, SM Aminur Rahman, chief executive officer and managing director of JBL and representatives of the government, shareholders and directors of the bank were also present in the meeting.
Janata Bank Limited (JBL), a state-owned commercial bank, earned a profit of Tk 8.60 billion (860 crore) against its target of Tk 8.50 billion in the year 2009.
The bank has taken a target of making profit of Tk 10.50 billion in the current year (2010).
This was disclosed at the third annual general meeting (AGM) of JBL at a city hotel Saturday.
Dr Mashiur Rahman, economic advisor to the prime minister, was present as chief guest while Dr Abul Barkat, chairman of the bank, presided over the meeting.
"The state-owned commercial banks should think about corporate social responsibility (CSR) along with earning profit," Mashiur Rahman said.
The government could offer income tax exemption in case of the bank providing interest-free loans to the poor, landless and marginal farmers under the CSR programme, he said.
The bank report said its authorised capital is Tk 20 billion, paid up capital Tk 5.0 billion while reserved capital Tk 8.85 billion.
On the other hand, the deposit of the bank stood at Tk 240.91 billion. The bank disbursed loans amounting to Tk 166.38 billion, realised classified loans worth Tk 6.26 billion and the rate of classified loans was reduced to 8.45 per cent as against 10.92 per cent of the previous year.
Shahidullah Mia, joint secretary of the finance ministry, SM Aminur Rahman, chief executive officer and managing director of JBL and representatives of the government, shareholders and directors of the bank were also present in the meeting.