SIBL's quality of assets improves significantly
Friday, 9 November 2007
FE Reporter
Social Investment Bank Ltd (SIBL) management, with co-operation from all concerned, achieved significant progress in all the indices of the directives of Bangladesh Bank (DOBB), said a press release.
A great change has occurred in the financial base of the bank. The capital of the bank as in September 2007 was Tk 1.8 billion (180.64 crore) and 100 per cent provision against debt had been made.
The bank has preserved provision of Tk 402.4 million (40.24 crore) against required Tk 382.4 million (38.24 crore). Gross classified loan is 3.68 per cent and net classified loan is 0.48 per cent. Thus the quality of assets of the bank has improved significantly.
The adjusted capital shortfall of SIBL during its listing as problem bank in 2005 was Tk 647.1 million (64.71 crore) and classified loan was Tk 1.61 billion (161.00 crore) or 11.28 per cent.
SIBL Chairman Abdul Awal Patwary expressed the hope that the management of the bank would continue their efforts to develop the overall business of the bank in the days to come.
Managing Director KM Ashaduzzaman said because of dropping the name of the bank from the list of problem banks, clients' confidence in the bank would increase and as such in near future tremendous achievement would be possible in all aspects of business of the bank.
Social Investment Bank Ltd (SIBL) management, with co-operation from all concerned, achieved significant progress in all the indices of the directives of Bangladesh Bank (DOBB), said a press release.
A great change has occurred in the financial base of the bank. The capital of the bank as in September 2007 was Tk 1.8 billion (180.64 crore) and 100 per cent provision against debt had been made.
The bank has preserved provision of Tk 402.4 million (40.24 crore) against required Tk 382.4 million (38.24 crore). Gross classified loan is 3.68 per cent and net classified loan is 0.48 per cent. Thus the quality of assets of the bank has improved significantly.
The adjusted capital shortfall of SIBL during its listing as problem bank in 2005 was Tk 647.1 million (64.71 crore) and classified loan was Tk 1.61 billion (161.00 crore) or 11.28 per cent.
SIBL Chairman Abdul Awal Patwary expressed the hope that the management of the bank would continue their efforts to develop the overall business of the bank in the days to come.
Managing Director KM Ashaduzzaman said because of dropping the name of the bank from the list of problem banks, clients' confidence in the bank would increase and as such in near future tremendous achievement would be possible in all aspects of business of the bank.