RAKUB returns to profit after a decade

Rajshahi Krishi Unnayan Bank (RAKUB) recorded operating profit in the last fiscal year 2014-15, after 10 years of loss, the bank said. The bank posted Tk 320 million (32 crore) as operating profit in FY15. In a bid to turn the bank as a profitable entity, a work plan was developed at the beginning of the last fiscal year, the bank said in a statement. The plan set targets of disbursing loans worth Tk 15 billion, recovering loans worth Tk 18 billion and reducing classified loans below 25 per cent of total disbursement. To achieve the targets, the bank has taken a year-long programme of opening loan disbursement, mega camp for recovery, fair for deposit collection, among other programmes. At the end of the year, RAKUB disbursed Tk 15.36 billion through 377 branches, which is 102 per cent against its annual target. At the same time, the bank recovered loans worth Tk 18.27 billion which is also 102 per cent of the target. Official statistics also revealed that RAKUB collected Tk 36.26 billion as deposit in FY15 while ratio of classified loans dropped to 20 per cent from previous 35 per cent.     — Statement