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Nationalized banks should operate by international standards |
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February 9, 2001
Dhaka-- (UNB) – Finance Minister Shah AMS Kibria yesterday assured separate pay structure for bankers to make the nationalised commercial banks competitive operating on international standards. “I’ll try to do it as soon as possible. It’s not possible overnight. The government needs time and cautionary measures against probable reaction from other public services,” he said inaugurating executives’ conference of Janata Bank at Hotel Purbani. Janata Bank chairman Dr Atiur Rahman, additional secretary (Banking) Dr Shoaib Ahmed, bank’s director Mohiuddin Ahmed and deputy managing director Shamsul Islam Bhuiyan also addressed the function. The finance minister, however, sounded a note of caution that market shares of the NCBs squeezed and would reduce further. He called upon the bankers to rethink for upgrading operations of the NCBs to international levels. Reminding the bankers of corruption being practiced for long with a chain effect, he advised them to eschew from indulging in malpractice in future. “You give up corrupt practices and resist others from doing that.” Finance Minister Kibria observed having failed in political movement, a vested group let loose “traders in religion” for grabbing power and was now out to destabilize situation in the country when it achieved non-inflationary growth. “It’s not a paper-growth. It reflects on public life,” he told the meeting the bank executives. Janata Bank chairman Dr Atiur Rahman said many of the powerful defaulters would try to pressure the management for rescheduling their overdue loans. “Bank authority will have to be bold and tactful in this regard,” he said, “question does not arise of staying aside from the fight to realise default loans.” He expected that the executives would take necessary measures without fear understanding the strict attitude of the Finance Minister, bank board and top bankers. The amount of classified loans of Janata Bank reduced to Tk 2,364 crore on December 31, 2000 from Tk 2,829 crore of December 31, 1999. Bank sources said their default loan recovery rose to Tk 814 crore last year which was Tk 225 crore in the previous year. The bank registered an operating profit of Tk 83 crore last year which was 24 crore in 1999. Provisioning deficit reduced to Tk 957 crore in 2000 from Tk 1105 crore of the previous year. Modernization of the bank is in the offing as it started computerization the branches. Till year 2000, the bank had computerized its 46 branches besides 48 regional offices and 24 computers were installed at its head office. Special type of computerization was also made at the bank’s 8 corporate offices to conduct SWIFT activities, said the JB sources. |