Karmasangsthan Bank set to disburse Tk 4.8b loans in 2011-12

Md Mazadul Hoque The state-run Karmasangsthan Bank is set to disburse Tk 4.8 billion loans in the current fiscal (2011-2012), with a projected increase of 31 per cent over the amount disbursed in the just concluded fiscal (2010-11). "If the loans can be disbursed successfully, employment generation in the country would be boosted and poverty rate would be reduced to some extent," Managing Director of the bank Dr Nurul Huda Choudhury said. He said in the 2010-11 fiscal the bank disbursed Tk 3.30 billion loans, marking a 53 per cent hike over Tk 2.15 billion of the 2009-10 fiscal. In the just concluded fiscal Tk 2.22 billion loans were realised, registering a 28 per cent growth over Tk 1.60 billion of the 2009-10 fiscal. The bank's loan realisation increased, as the loan-takers invested loans in various potential sectors, from where they obtained good profit, the official said. The MD said the number of loan-takers from the bank in the 2010-11 fiscal was 79,676, and 66,143 in the 2009-10 fiscal, thus showing a 20 per cent growth. The number of its branches across the country stood at 208 at the end of the fiscal 2010-11, which was 160 in 2009-10. The bank achieved Tk 130.19 billion net profit in the just finished fiscal. Dr Choudhury said such outstanding growth of the bank has been possible for undertaking some initiatives, like increasing awareness among the entrepreneurs. Besides, monitoring units of its branches have been supervising the loan-takers to ensure that they are investing loans in potential sectors. The bank also arranged special training programme for officials and entrepreneurs, so that the entrepreneurs became interested to take loans. "We directed every branch to collect at least 100 entrepreneurs. As a result, the number of loan-takers increased," Mr Choudhury said. "We have been able to disburse loans among more people, as the government is now focussing on the Karmasangsthan Bank and ensuring adequate finance for it," he added.