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Key indicators of Premier Bank show improvement

Special Correspondent | November 07, 2017 00:00:00

With adoption of some new strategic changes, Premier Bank Ltd has vowed to grab a leading position in coming months in the competitive businesses.

"We will be among the top five private commercial banks (PCBs) in 2018 as our bank has witnessed notable performance in deposit, loans and advances and profit till September 30, 2017 against the corresponding period of 2016," said Muhammed Ali, Advisor of the bank.

In testimony to the adoption of some innovative strategic changes, the key indicators of the bank showed a significant improvement in recent months and the result will be more visible in coming months, he added.

He said three major functions can run a bank smoothly with sustainable growth, the functions are business relationship function, support function and risk, control & compliance function.

"We have already implemented the above changes within two months after my joining here," Mr Ali, a veteran banker told The FE recently.

"Apart from RMG and foreign remittance, financial inclusion and investment in SME sector are now our desperate craving for ensuring development," he said.

"Our bank does not focus only for making money, rather banks and bankers are working for building national economy through financial inclusion and providing support to entrepreneurs in different sector for poverty alleviation, rapid industrialization and national economic growth."

Premier Bank, a third generation bank has now 102 branches in the country and it celebrated the 18th anniversary recently.

"Moreover, we have launched agent banking services to snare a big portion of the market which remains mostly unbanked and initially there are 150 such outlets across the country," Advisor of the bank said.

In ever changing economy, change is must to make the institution to way forward aligned with the economy. Considering the fact, recently Premier Bank has recast its corporate organogram and new strategic changes to ensure growth in sustainable manner.

The bank's fund under management rose to Tk 270 billion till October 31, 2017 while it was only Tk 160 billion in December 31, 2014.

As on October 31, 2017, the deposit was Tk 138.99 billion and advance was Tk 130.51 billion.

The classified loan ratio declined to 5.75 till September, 2017 against 6.71 of September, 2016.

"Now the bank has 0.35 million depositors and we have fixed a target to achieve 0.5 million-mark within the next one year," Ehsan Khasru, the Consultant of the bank said.

The Bank launched some new deposit and loan products recently to strengthen its business. The deposit products are Premier Shadhinota, Premier Shopno, Premier Registered Retirement Deposit Plan and Premier Quick Gain Deposit. On the other hand, the loan products are Premier Grameen Shawnirbhor, Premier Samriddhi, Premier Quick Trade, Premier e-GP Finance, Personal Loan for Professionals, Premier Home Loan and Premier Boshot Vita.

Commenting on the future challenges of the banking sector, Mr Ehsan Khasru said : The whole banking industry foresees a major challenge that will come from digitisation and we have fortified our position to embrace that challenge anticipating the necessary changes.

"Every change is welcome though it is difficult to embrace the new technology, but we are strongly committed to make our bank a tech-savvy entity in coming months," Mr Ehsan Khasru, who earlier worked in senior positions in Prime Bank Ltd and City Bank Ltd said.

"We are going to launch apps-based banking by the end of next month (December)," he disclosed.

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