Karmasangsthan Bank makes profit of Tk 79.5 million
Friday, 15 January 2010
An evaluation meeting on the performances of Karmasangsthan Bank for the first six months of the financial year 2009-2010 ending on 31 December 2009 was held at bank's head office Thursday.
The meeting was told that bank has disbursed Tk 1.18 billion during the first six months of the financial year, a 121 per cent up compared to the same time of the previous year. During the same period Tk 722.2 million was recovered which is 43 per cent higher than the previous year.
The Bank was able to make profit of Tk 79.5 million in December 2009 which is Tk 40 million higher against the corresponding period of the previous year.
The rate of classified loan was 11 per cent in June 2009 which came down to 10 per cent in December 2009.
Mr. M.A. Yousoof, Managing Director of the bank expressed great satisfaction for the performances of the first six months of the year and congratulated all officers/staff for the achievement.
He expressed the hope that with present trend of work, the bank will be able to achieve disbursement target of Tk 2.20 billion, recovery target of Tk 1.67 billion and profit target of Tk 200 million for the financial year to be ended June 30, 2010.
He expressed firm determination that classified loan will be reduced to 5 per cent by the end of this fiscal year.
It was decided in the meeting that guidelines will be conveyed to the field offices for qualitative disbursement from the beginning, hundred per cent recovery of would-be classified loans, accelerated efforts for recovering classified loans and interest from suspense accounts, reduction of expenditure in all controllable items, efficient fund management, effective and efficient utilization of manpower and improvement of customers service so that cent per cent of targets in all operational areas is achieved by June 2010.
Md. Dilwar Hossain Bhuiyan, General Manager (Operation) presided while Mr. Shajahan Mia, General Manger (Administration) attended the meeting as special guest.
The meeting was told that bank has disbursed Tk 1.18 billion during the first six months of the financial year, a 121 per cent up compared to the same time of the previous year. During the same period Tk 722.2 million was recovered which is 43 per cent higher than the previous year.
The Bank was able to make profit of Tk 79.5 million in December 2009 which is Tk 40 million higher against the corresponding period of the previous year.
The rate of classified loan was 11 per cent in June 2009 which came down to 10 per cent in December 2009.
Mr. M.A. Yousoof, Managing Director of the bank expressed great satisfaction for the performances of the first six months of the year and congratulated all officers/staff for the achievement.
He expressed the hope that with present trend of work, the bank will be able to achieve disbursement target of Tk 2.20 billion, recovery target of Tk 1.67 billion and profit target of Tk 200 million for the financial year to be ended June 30, 2010.
He expressed firm determination that classified loan will be reduced to 5 per cent by the end of this fiscal year.
It was decided in the meeting that guidelines will be conveyed to the field offices for qualitative disbursement from the beginning, hundred per cent recovery of would-be classified loans, accelerated efforts for recovering classified loans and interest from suspense accounts, reduction of expenditure in all controllable items, efficient fund management, effective and efficient utilization of manpower and improvement of customers service so that cent per cent of targets in all operational areas is achieved by June 2010.
Md. Dilwar Hossain Bhuiyan, General Manager (Operation) presided while Mr. Shajahan Mia, General Manger (Administration) attended the meeting as special guest.