Karmasangsthan Bank reduces its classified loans remarkably

The state-owned Karmasangsthan Bank has achieved a rare success in reducing its classified loans.
In financial year (FY) 2022-23, the classified loans of the bank stood at Tk 901.7 million (Tk 90 crore 17 lakh), which is only 2.72 per cent of the total loans, says a press release.
The figure was Tk 1.1275 billion (Tk 112 crore 75 lakh) in FY 2021-22, accounting for 4 per cent of the total loans.
The growth rate in classified loan collection is 25 per cent, compared to the previous financial year.
At the same time, Karmasangsthan Bank also achieved the highest success ever in terms of loan disbursement, loan collection and other indicators.
In FY 2020-21, the disbursement and collection of loans were over Tk 15.96 billion (Tk 1596.66 crore) and over Tk 12.29 billion (Tk 1229.93 crore) respectively.
In FY 2021-22, the disbursement and collection of loans were over Tk 18.6 billion (Tk 1860.97 crore) and over Tk 17.34 billion (Tk 1734.70 crore) respectively. The growth rates of loan disbursement and collection in FY '22 were 17 per cent and 41 per cent respectively, compared to FY '21.
In FY 2022-23, the disbursement and collection of loans were over Tk 23.58 billion (Tk 2358.98 crore) and over Tk 21.08 billion (Tk 2108.97 crore) respectively. The growth rates of loan disbursement and collection in FY '23 were 27 per cent and 22 per cent respectively, compared to FY '22.
The state-owned bank has achieved an operating profit of Tk 870.7 million (Tk 87.07 crore) in FY '23, registering an increase of 36 per cent from the previous year's profit of Tk 642.8 million (Tk 64.28 crore). The profit growth rate is the highest since the establishment of the bank.