RAJSHAHI, March 16, 2023 (BSS)- Rajshahi Krishi Unnayan Bank (RAKUB) disbursed agricultural loans of around Taka 2,538.33 crore till March 9 last of the current 2022-23 fiscal year aimed at increasing crop production coupled with boosting rural economy.

The loans were disbursed through 383 branches in the country's northwest region consisting of 16 districts under Rajshahi and Rangpur divisions.

Apart from this, the specialized commercial bank also recovered loans of Taka 2,518.03 crore including classified loans of Taka 769.61 crore. It has a total balance of deposits worth Taka 6,628.26 crore till last February of the current fiscal.

RAKUB Management revealed this while celebrating the 36th founding anniversary of the bank on Wednesday.

Managing Director Md Zahidul Haque accompanied by General Manager Maksuda Nasrin and Shawkat Shahidul Islam opened the daylong celebration programmes before a large number of his colleagues at the bank's head office.

Headquartered in Rajshahi, the bank has set a target of disbursing loans of TK 3,250 crore during the current fiscal year.

Target has also been set to recover loans of TK 3,526 crore, including classified loans with TK 874.59 crore, and raise deposit collection to TK 3000 crore, he said.

All the zonal and branch managers were asked to infuse more dynamism into its all business activities including loan disbursement, recovery especially the classified loan and deposit collection for benefits of both the bank and clients, he said.

Managing Director Md Zahidul Haque said the bank began its journey with 253 branches and 10,64,531 clients on March 15, 1987. But at present, the figures stood at 383 and 38,05,764 respectively.

"We are very much hopeful about attaining the cherished targets of disbursing loans in all the scheduled sectors within the stipulated time of the current fiscal," he added.

As the largest development partner in agriculture as well as agro-based industry sector of northwest Bangladesh, currently, the bank has adopted the effective work plan which is being implemented at the grassroots level to make the credit programs easier.

He said the bank enhanced its lending activities in multipurpose potential fields for boosting agricultural production, intensifying food security and flourishing poultry and dairy sectors.

Small and marginal women entrepreneurs and others who were not capable of paying collateral are being given priority in terms of disbursing loans.

Haque also said they have attained operational profit worth Taka 44.8 crore in the last 2021-2022 financial year overcoming the loss of Taka 3.10 crore incurred in the previous 2020-2021 fiscal year.

They also attained operational profit worth Taka 22.95 crore during the first six months of the current 2022-2023 financial year up by Taka 19.31 crore in corresponding period of the previous 2021-2022 fiscal year.

Their bank has also dropped its net loss of Taka 211.79 crore from Taka 272.64 crore in the last fiscal year.
"We arrange open loan disbursement programmes, loan fair, loan recovery grand camp and deposit collection fair in all 383 branches," he said.

Early last year, the bank launched a mobile App and internet banking aimed at bringing dynamism into its banking services.

With this breakthrough, clients of the bank are being benefited in many ways, including banking transactions anytime and from anywhere, bill payment of utility services and opening of new bank accounts from home.