Jamuna Bank has enhanced its service quality along with tailoring an array of new products and services over the years with intent to better meet individual requirements of customers.
"In recent times, we have not only enhanced our service quality, but also introduced a variety of new products and services to better serve customer demands," the bank's top executive says.
"The progress that we have made in recent years means Jamuna Bank is better positioned to deliver higher returns and has a good basis for future growth."
Mirza Elias Uddin Ahmed, managing director (MD) and chief executive officer (CEO) of Jamuna Bank, said this to The Financial Express in an exclusive interview recently.
Regarding contribution to the national economy, he says: "We're supporting local industries and business sectors through delivering different services."
Jamuna Bank prioritises supporting small-and-medium enterprises and the agricultural sector to ensure sustainable development. It also contributes to boosting remittance inflows and infrastructural development.
The bank goes for green banking and sustainable finance by implementing automated electronic and paperless banking, promoting sustainable projects and raising awareness through training and marketing, according to the CEO.
"We've achieved numerous milestones, including expanding our customer base, enhancing our banking services, and making technological innovations. These accomplishments reflect our commitment to our customers."
Mr Ahmed's bank is taking timely steps to ensure that its business practices are sustainable enough to benefit not only the organisation itself, but also the environment and society.
"Digital integration in banking is crucial to us. Our medium and long-term objectives involve going digital, ensuring a sustainable asset portfolio, and building quality," he noted.
Jamuna Bank is committed to strong and integrated corporate governance.
"We uphold transparency and accountability in our operations, policies and practices. Our board of directors and management team regularly review corporate-governance policies and take necessary steps to ensure compliance," explained the CEO.
Regarding liquidity challenges, he said: "Our liquidity management is robust, allowing us to operate steadily despite current economic challenges. We ensure this stability through continuous liquidity monitoring and risk management strategies."
The experienced banker also dwelled on a multiplicity of issues like the current economic environment and the central bank's recent initiatives to reform the banking sector.
The ongoing economic environment poses challenges to the broader business landscape, which can significantly impact the banking sector, according to him.
"Economic downturns may reduce investor interests, thereby decreasing loan demand, which could, in turn, affect the bank's profitability and stability. Therefore, banks need to navigate these times cautiously and prepare for potential downturns."
The banker further said that the central bank's recent banking-sector reforms are timely and imperative, focusing on transparency, corporate governance and risk management.
"At Jamuna Bank, we view these initiatives positively, as they align with our commitment to responsible banking. We believe these reforms will enhance financial stability and benefit both our customers and the broader economy."
About freedom of his position, the MD says he enjoys a certain level of autonomy in the bank's operations. However, this independence is within the framework of the bank's policies and the board of directors' guidelines.
"While I can make independent decisions, they must align with the bank's interests and responsibilities. Our aim is to run the bank smoothly and provide optimal service to our customers."
Mr Ahmed also talked about banks' possible preparations to overcome the current economic situation, recommending three measures for banks.
Firstly, they should review the quality of their loan portfolios and identify potential risks. Additionally, banks should reduce investments in risky sectors and focus on consolidation.
Secondly, banks need to improve customer service and ensure satisfaction by embracing technology. Digital platforms should facilitate better customer interaction and secure transactions.
Finally, maintaining adequate capital reserves is crucial for financial stability and security. These steps can enhance the transparency and security of banks.
"Over the past 24 years, Jamuna Bank has seen remarkable growth. Since its inception, we've expanded our presence in every aspect of banking services," the top executive said. Currently, Jamuna Bank is running businesses with 168 branches, 113 sub-branches, nearly 53 agent banking centres, 350-plus ATM (automated teller machines) and CRM (cash recycling machine) booths countrywide.
Mr Ahmed took over as MD and CEO of the bank on 21 October 2019 for three years. He was reappointed for five years on 21 October 2022.
Earlier, he served the bank in the capacities of additional managing director and deputy managing director for over seven years.
A career banker, Mr Ahmed's services in bank's evolved for over 37 years with all round exposure in most banking fields, including treasury, risk management, operation and services, business, foreign exchange and credit.
Mr Ahmed did his master's in management from Dhaka University. He started his banking career in 1985 with National Bank. He then served Prime Bank and Mercantile Bank before joining Jamuna Bank as SAVP in 2001.
He is a diplomaed associate of the Institute of Bankers Bangladesh and founder general secretary of the Bangladesh Money Market Dealers Association. He was a member of the Council of Institute of Bankers, Bangladesh and its administration & finance committee for 2021.
Mr Ahmed was also chairman of the technical committee of Primary Dealers Bangladesh Limited and member of Bangladesh Foreign Exchange Dealers' Association.
As the member secretary of Jamuna Bank Foundation, he also planned and implemented various CSR (corporate social responsibility) activities.
Mr Ahmed received extensive training in bank management at home and abroad and obtained higher education in banking and strategic leadership.
He is a widely travelled person and possesses vast knowledge of banking operations of many countries of the world.
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