Prime Bank to diversify loan portfolios to growing sectors

Prime Bank Limited will diversify its loan portfolios to some growing sectors like Small and Medium Enterprise (SME), agriculture, women empowerment, light engineering and retail sectors, said Ahmed Kamal Khan Chowdhury, Managing Director of the private commercial bank.

"The slogan of the bank of this year is "Towards a Strategic Route" which will focus on profitable growth by long term planning rather than on increasing operating profit," Mr. Chowdhury said speaking at a press conference, organised on the occasion of the 21st anniversary of the bank at a city hotel on Saturday.

Deputy Managing Directors Habibur Rahman, Rahel Ahmed, Md. Touhidul Alam Khan, Ahmed Shaheen, Syed Faridul Islam along with the other senior officials of the Bank were also present during the press conference.

He said Prime Bank is conducting its banking activities by145 branches, 170 ATM booths across the country. In Singapore, Hong Kong and United Kingdom (UK), the bank has three exchange units.

 At the end of 2015, the bank has deposit amount of Tk 194.84 billion (19484 crore), Investment amount Tk 151.86 billion (15186 crore) and the value of assets is Tk 252.16 billion (25216 crore). As a 2nd generation bank, the bank started its journey with paid up capital Tk 100 million (10 crore) and now the amount of paid up capital of the bank is Tk 10.29 billion (1029.39 crore).

Mr. Chowdhury talked about some significant achievements of the bank including its excellence in consumer banking, IT base, risk management, offshore banking, remittance service and world class card service.

Mr. Chowdhury also talked about some priority areas of the bank such as to ensure transparency, accountability and good governance, to diversify loan portfolio, to increase SME and Retail Portfolio, to upgrade the IT platform, to decrease Non Performing Loan (NPL), to ensure financial inclusion for all kinds of people, to ensure highly skilled and motivated workforce and finally to ensure high standard customer service.

Stressing on the importance of Corporate Social Responsibility (CSR) Mr Chowdhury Said Prime Bank plays crucial role on the country's education and health sector. The bank budgets four per cent of its profit for CSR activities.

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