JBL achieves significant growth in net operating profit in 2013

State-owned Janata Bank Ltd. (JBL) achieved a significant growth in net operating profit, bringing down the classified loans and increasing the total assets in 2013.
According to the figure disclosed Monday at the 7th annual general meeting (AGM) of the bank, net operating profit after provisioning stood at Tk 9.55 billion which was in the negative territory a year earlier.
Besides, the bank has also succeeded in bringing down its classified loans from 18 per cent to 11.12 per cent this year.
In the AGM, speakers disclosed that the net assets of the bank also marked a significant rise during the period. The net assets of the state-owned entity stood at Tk 586.08 billion.
The AGM was held at the board room of the bank in the city Monday. Chairman of the bank Dr Abul Barakat presided over the meeting.
Among others, additional secretary of the Bank and Financial Institutions Division and Representative of the government Gokul Chandra Das, Janata Bank directors Md Emdadul Haq, RM Debnath, Sayed Bazlul Karim, Prof Md Moinuddin, Sangita Ahmede, Dr Netai Chandra Nag and CEO and Managing Director SM Aminur Rahman attended the AGM.
In his presidential speech, Dr Barakat said the bank has been trying to concentrate more on discharging corporate social responsibility (CSR) activities rather than only making profit.
According to him, the bank in 2013 had disbursed more than Tk 290 million among nearly 4,000 needy people specially those of Sidr, Monga and Aila affected areas across the country which was Tk 250 million in the corresponding period.
"Besides distributing money from CSR fund, the bank has disbursed over Tk 30 million as loan at zero per cent interest among the people of Sidr, Aila and Monga-hit areas for the first time in the country and recovery rate is hundred per cent," the JBL chairman told the AGM.
"We are not concentrating only on making profit, we are also giving the same importance to doing CSR alongside our usual activities," he added.
Addressing the AGM, the managing director said due to some unavoidable circumstances, JBL could not do well in the year 2012 but the bank had made a remarkable growth in operating profit and bringing down classified loans and increasing total assets in 2013.
Mr Rahman, however, has also expressed his strong belief that if everything goes accordingly, the financial condition of the bank would be stronger in the years to come.