BSBL to double loan disbursement this fiscal

Talha Bin Habib | Published: August 15, 2014 00:00:00 | Updated: November 30, 2024 06:01:00

Bangladesh Samabaya Bank Ltd (BSBL) has planned to double its loan disbursement in the current fiscal year, following increase of net profit over the years, a high official of the bank said.Â Â
BSBL is set to disburse Tk 1.5 billion in the FY 2014-15 to bring more cooperatives under its loan programme.
The bank is going to forward a loan budget proposal in this regard to the Department of Cooperatives for approval. Before sending the proposal, the bank will hold an annual general meeting (AGM) next month for its endorsement.
"We have set a target to disburse Tk 1.5 billion loan to our registered cooperatives in the current fiscal. We will hold an AGM on September 6 for endorsement of our loan/ investment programme," BSBL chairman Mohiuddin Ahmed told the FE Thursday.
He said the bank provided Tk 774.66 million loan, and earned a net profit of Tk 123.92 million in the FY 2013-14. The net profit was Tk 116.22 million in the FY 2012-13.
The BSBL chairman said 465 cooperatives are the shareholders of BSBL. Apart from the cooperatives, any registered cooperatives in the country can get loan from the bank, following submission of proper papers. Â
The bank provides short and mid-term loan for agriculture projects. It also provides loan for non-agriculture activities, like making of handicraft items, and cow fattening etc.
The bank has taken 103 projects for income generation, he added.