Thrust on opening up new, diversified investment portfolios
Wednesday, 27 January 2010
FE Report
The introduction of Basel-II will revolutionise the country's banking system, procedures, methodologies, customs and practices in the coming days, said IFIC Bank chief.
"Banking in Bangladesh has entered a new era of Basel-II which introduced the risk-based capital adequacy concept for the commercial banks," said Chairman of the bank Mohammad Lutfar Rahman while addressing the inaugural session of annual managers' conference-2010 of IFIC Bank Limited held at a city hotel Monday.
He said operating profit of the bank stood at Tk 2.07 billion registering an increase of 16.89 per cent against 2008.
The first generation private commercial bank grabbed the 13th position in 2009 among private commercial banks in terms of operating profit while the position was 15th in 2008.
He said that IFIC Bank has been upgraded into "B" category in CAMELS rating during in 2009 while in credit rating it has been upgraded as "A" and "ST-2" for long term and short term respectively.
The IFIC Bank chairman stressed the need for further improving the overall performance of the Bank and urged upon all to upgrade the ranking of the Bank by enhancing business through relationship banking.
The performance of the branches vis-a-vis the targets and achievement during 2009 was reviewed and the strategies for achieving the business targets for 2010 were discussed in detail at the conference.
Speaking on the occasion, Managing Director of IFIC Bank, Mosharraf Hossain called upon the relationship managers to identify the challenges with an action plan for achieving the corporate target and emphasised to gear-up their activities more vigorously to attain the desired goal and opening up new and diversified investment portfolios of the bank.
The conference was told that the bank will expand its capital market operation in Chittagong and other cities also. At present, the bank has eight branches on capital market services.
Directors ATM Golam Maruf, Md Mahmudul Haq Bhuiyan, SM Faruki Hasan, Aminur Rahman and Syed Anisul Haq, Deputy Managing Director Mohammad Abdullah, head office executives and relationship managers of 74 branches and five SME centres of the bank attended the conference.
The introduction of Basel-II will revolutionise the country's banking system, procedures, methodologies, customs and practices in the coming days, said IFIC Bank chief.
"Banking in Bangladesh has entered a new era of Basel-II which introduced the risk-based capital adequacy concept for the commercial banks," said Chairman of the bank Mohammad Lutfar Rahman while addressing the inaugural session of annual managers' conference-2010 of IFIC Bank Limited held at a city hotel Monday.
He said operating profit of the bank stood at Tk 2.07 billion registering an increase of 16.89 per cent against 2008.
The first generation private commercial bank grabbed the 13th position in 2009 among private commercial banks in terms of operating profit while the position was 15th in 2008.
He said that IFIC Bank has been upgraded into "B" category in CAMELS rating during in 2009 while in credit rating it has been upgraded as "A" and "ST-2" for long term and short term respectively.
The IFIC Bank chairman stressed the need for further improving the overall performance of the Bank and urged upon all to upgrade the ranking of the Bank by enhancing business through relationship banking.
The performance of the branches vis-a-vis the targets and achievement during 2009 was reviewed and the strategies for achieving the business targets for 2010 were discussed in detail at the conference.
Speaking on the occasion, Managing Director of IFIC Bank, Mosharraf Hossain called upon the relationship managers to identify the challenges with an action plan for achieving the corporate target and emphasised to gear-up their activities more vigorously to attain the desired goal and opening up new and diversified investment portfolios of the bank.
The conference was told that the bank will expand its capital market operation in Chittagong and other cities also. At present, the bank has eight branches on capital market services.
Directors ATM Golam Maruf, Md Mahmudul Haq Bhuiyan, SM Faruki Hasan, Aminur Rahman and Syed Anisul Haq, Deputy Managing Director Mohammad Abdullah, head office executives and relationship managers of 74 branches and five SME centres of the bank attended the conference.