Farmers Bank to change name

FE Report | Published: September 22, 2018 21:20:16

Md Ehsan Khasru, managing director and chief executive officer of Farmers Bank Ltd addressing a branch managers' conference of the bank held at Mirpur in the capital on Saturday. Hasan Taher Imam, vice-chairman of the bank, was present at the event as the chief guest

The Farmers Bank Ltd is set to renew its operations under a new name from January 2019 as part of re-forming itself in this sector, officials said.
"The bank will also get a new name, new logo and colour to rebrand," said Md Ehsan Khasru, managing director and chief executive officer of the bank.
The new name has yet to be fixed, he said.
"The bank has started a new journey. Just like the change in management, credit distribution and deposits have also been re-formed," he told the FE.
Mr Khasru said the bank would adopt new technological innovations to ease the employees' work with intent to provide better services for its clients.
"Our focal point is ethical banking," he mentioned.
Mr Khasru made the disclosures on the sidelines of branch managers' conference held at Mirpur in the capital on Saturday.
Hasan Taher Imam, vice-chairman of the bank, was present at the event as the chief guest.
As part of restructuring, Mr Khasru said, the bank's top priority will be on better client service.
At the programme, Mr Imam said the rebranded bank aims to bolster the capital base and accelerate the loan recovery process.
Terming the customers' interest the key concern, he said, "No client, great and small, will go back from the bank without cash from Sunday."
The bank has advanced substantially in terms of capital restructuring and its liquidity crisis has been over almost 100 per cent, Mr Imam added.
It also laid emphasis on developing expertise and good governance at all levels to make stronger its management in operations, he uttered.
Mr Imam called upon the mangers to bring normalcy in banking activity and also to be compliant with disbursing loans and other performances.
The bank rolled out two new deposit products-Kotipoti Deposit Scheme (KDS) with insurance option and Target Deposit Scheme with insurance option-for one year.
It also launched a campaign with a view to earning more deposits.
Styled 'Current and Savings Accounts', the drive will go on for two months to open 6,000 strong accounts.
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