National Bank undertakes series of campaigns

National Bank PLC has undertaken a set of specially designed campaigns to reinforce the stability of its deposits with a strong focus on rebuilding customer confidence and trust.
The deposit attrition rate also dropped to 0.08 per cent by the end of August, down from over 3.0 per cent negative last December, reflecting the restoration of public confidence in the country's first-generation private commercial bank (PCB), according to senior executives of the bank.
National Bank mobilised Tk 5.40 billion in deposits during July-August through special campaigns, as part of the new management's pragmatic efforts - under the guidance of the Bangladesh Bank (BB)'s reconstituted board led by former FBCCI President Abdul Awal Mintoo - to improve its financial health.

As part of the campaigns, each employee was tasked with mobilising deposits worth Tk 50,000 between July 15 and July 22 this year to encourage greater dynamism among the staff. The campaign achieved nearly 250 per cent of its target.
Two similar campaigns were also launched between July 23 and August 25 this year, assigning each employee to collect Tk 100,000 and Tk 150,000 from general depositors to strengthen the ongoing deposit mobilisation drives. The campaigns achieved 185 per cent and over 176 per cent of their respective targets.
Currently, National Bank is actively working to enhance its deposit-base with over 20 innovative and customer-friendly products - from current deposit to the flagship Kotipoti Deposit Scheme (KDS) - offering attractive benefits designed to achieve the trust of depositors.
The aggregate deposits of National Bank rose to Tk 340.41 billion by the end of August, up from Tk 340.24 billion a month earlier, reflecting the impact of various pragmatic and innovative initiatives undertaken by the new management under the leadership of Managing Director of National Bank Adil Chowdhury, according to the latest statistics of the bank.
"Over the past two months, we have undertaken bold measures to strengthen National Bank and restore the trust of our valued customers. I am pleased to note that these initiatives are already yielding visible results," Mr. Chowdhury told The Financial Express (FE) while commenting on the bank's recent performance.
In July and August, National Bank recorded a total cash inflow of Tk 39.29 billion. During this period, 34,970 new accounts were opened, adding Tk 14.83 billion in deposits, according to the MD.
"We have also resumed online banking operations in over 100 branches across the country, ensuring uninterrupted over-the-counter and local payment services for our customers. At the same time, we have rolled out customer trust-building programmes at district levels, including initiatives to strengthen relationships with the local communities," Mr. Chowdhury explained.
"I am particularly pleased to share that foreign remittances, Sanchaypatra, and letter of credit (LC) payments are now fully ensured -a milestone that underscores our renewed financial discipline and commitment," he noted. He also said: "National Bank is firmly on a path to recovery, with a dedicated focus on delivering greater value, enhancing service quality, and ensuring sustainable growth for our customers, shareholders, and the nation."
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