Pubali Bank Ltd enjoys a solid financial position performed by 'diligent and assiduous' business functionaries, mostly young officials.
"Depositors and our business partners remain safe, cocooned in our portfolio, enjoying the prudent service delivery," managing director and chief executive officer of Pubali Bank Ltd, Abdul Halim Chowdhury told the FE in an interview.
The first commercial bank of the country will celebrate the completion of 60 years of its service in May next year.
Established by Bengali entrepreneurs in 1959, the bank was the springboard for the economic emancipation, a dream of Bengali masses of those days.
Some Bengalee entrepreneurs set up the bank as Eastern Mercantile Bank Ltd to establish their rights to do business and get bank finances. It was renamed Pubali Bank after the Liberation War in 1971.
During the Pakistani regime, Bangalee businesses were not given credit by the then West Pakistani banks.
Of those courageous entrepreneurs, OR Nizam, MR Siddiqui, Mirza Mohammad Ali Ispahani, Khan Bahadur Mujibur Rahman, Habibur Rahman and Dr Naimur Rahman were the notable sponsors of the bank.
The bank played a courageous role during the Liberation War. It had stopped remitting money from East to West Pakistan at the call of Bangabandhu Sheikh Mujibur Rahman. During the war the Bengalees also deposited their money at the bank as a safe custody because the West Pakistanis ran all other banks.
"It is our great pleasure that we have been able to run a long way during the last 59 years and created the first generation of entrepreneurs who contributed immensely to the economic development of the country," Mr Abdul Halim Chowdhury said.
The Pubali Bank management is now proud of its present strength with earning the profit of Tk 8.67 billion in 2017, one of the top scorers among all the private commercial banks.
The 2017 profit growth is 23.31 per cent higher against 2016.
The total deposit and advance were Tk 271.61 billion and Tk 239.53 billion respectively in 2017 which registered 9.96 per cent and 17.99 per cent rises from the previous year.
The bank's credit deposit ratio was 83.94 in 2017 against 79.03 in 2016 while, the cost of fund was 7.23 per cent and 7.49 per cent in 2017 and 2016 respectively.
Mr Chowdhury expressed his note of gratitude to the board of directors, its all officers and employees and the previous managing directors for their immense contributions.
"The valuable suggestions made by our predecessors paved the way for us to take the bank forward," said Mr Chowdhury who has been serving the bank since 1988.
Asked about the diversification of Pubali Bank's activities, Mr Chowdhury said the bank has already diversified its operations in the areas of IT, shipping, health, education and SMEs.
"We are risk-free from any volatility, since our businesses are well-diversified," the Pubali Bank MD asserted.
The in-house developed software-Pubali integrated banking system (PIBS)- is unique and very much cost-effective.
"Our operating cost is minimum as our board members never interfere in our professional services," he said.
Replying to a query on the overall dearth of skilled HR in the banking sector, the Pubali Bank MD said 80 per cent of the bank's officials are below the age-limit of 45.
"This unique opportunity is a boon for us because they will steer the future wheels of the bank," he said.
raihanmchowdhury@gmail.com