Sonali investments, deposits up in H1
FE Report | Wednesday, 23 July 2014
The state-owned commercial bank 'Sonali Bank Ltd' achieved a significant growth in areas including deposit collection and investments during the first half of the current calendar year (CY).
According to the data, deposit collection and investments of the bank increased by 9.96 per cent and 42.41 per cent or Tk 63.13 billion and Tk 90.59 billion respectively during the period compared to the corresponding period of a year ago, it was disclosed at a press conference in the city on Tuesday.
Besides, the bank also brought down its classified loans by more than 15 per cent. The volume of classified loans of the bank in June 2013 was Tk 124.71 billion. It came down to Tk 105.6 billion in June 2014.
The largest state-owned commercial bank also achieved a significant growth in its operating profit of Tk 3.47 billion during the last January-June period. The figure was higher by 186 per cent than that of the corresponding period of last year.
Managing Director and CEO of Sonali Bank Ltd, Pradip Kumar Dutta, briefed the news men at the bank's head office in the city. Other high officials of the bank also were present.
Mr Prodip Kumar said assets of the bank increased by Tk 71.26 billion or 8.68 and the shareholders' equity also increased by Tk 25.54 billion or 104.36 per cent.
However, according to the managing director of the bank, due to some unavoidable circumstances, the bank made negative performance in areas including loans and advances, loan defaulters and remittance collection.
"As the government waived Tk 25 billion of different state-owned organizations, our loans and advances slightly reduced during the period," Mr Datta said.
"We are hopeful to overcome the situation soon," he added.
During the period, loans and advances of the bank decreased by Tk 32.37 billion or 8.80 per cent.
Besides, collection from top loan defaulters decreased by Tk 12.21 billion or 58.14 per cent during the January-June period of 2014 against the corresponding period of 2013.
"We have taken a set of proactive measures to strengthan our activities in this regard and are hopeful of a positive growth at the end of the year," the managing director said.