RAKUB makes turnaround with Tk 29.8m net profit

RAJSHAHI, July 3: Rajshahi Krishi Unna-yan Bank (RAKUB) has made a complete turnaround by posting a net profit of Tk 29.8 million (Tk 2.98 crore) in financial year 2023-24.
In FY 2022-23, the bank incurred a loss of Tk 2.24 billion (Tk 224.15 crore), according to RAKUB.
According to sources, RAKUB took a Time-Bound Action Plan and executed it properly to become a profitable bank.
During the period, the number of losing bank branches came down to 12 from 60 in FY 2022-23.
Also, the deposit balance increased to Tk 71.8 billion (Tk 7,180 crore) from Tk 67.77 billion (Tk 6,777 crore) a year ago, and the loan balance rose to Tk 78.37 billon (Tk 7,837 crore) from Tk 75.87 billion (Tk 7,587 crore).
On the other hand, classified loans stood at Tk 12.42 billion (Tk 1,242 crore), down from Tk 14.30 billion (Tk 1,430 crore) a year ago. And the classified loan ratio came down to 16 per cent from 19 per cent.
RAKUB clients can now open bank accounts from their homes, transfer funds through RAKUB mobile app and Internet banking and pay their utility bills, including the NESCO and WASA bills, through Internet banking.
Niranjan Chandra Debnath, Managing Director of RAKUB, expressed his gratitude to all concerned for the bank's achievement and vowed to turn RAKUB into a 'model bank' by maintaining this success.