Rajshahi Krishi Unnayan Bank (RAKB) has made progress in various financial indicators in a year. The bank’s deposits have increased by 855 crore 71 lakh taka. At the same time, net losses have decreased by 171 crore 15 lakh taka. The bank authorities claim that this progress has been made due to the zone-based supervision of the current management, regular instructions at the field level and various reform initiatives.

Since its establishment on March 15, 1987, RAQAB has been working for the socio-economic development of farmers in the north-western region. Bank sources claim that the institution has achieved significant success in various indicators in recent times by competing with other scheduled banks. The latest governor’s meeting held with the managing directors also praised RAQAB’s recent progress, bank sources said.

According to Rakab data, the bank’s deposits increased by 855 crore 71 lakh taka in the current fiscal year. The bank claims that this is the highest achievement compared to any time in the past. On the other hand, the bank’s net loss in the last fiscal year was 289 crore 39 lakh taka. In the current fiscal year, it has decreased to 118 crore 24 lakh taka. That is, the net loss has decreased by 171 crore 15 lakh taka in one year.

The bank’s provision against classified loans (CL) has also decreased. In the last fiscal year, the provision amount was Tk 702 crore 87 lakh. In the current fiscal year, it has decreased to Tk 689 crore 74 lakh. That is, the provision amount has decreased by Tk 13 crore 13 lakh.

According to bank sources, while the classified loan rate of various scheduled banks is currently over 30 percent, Rakab’s CL is around 16 percent. However, the bank authorities have not disclosed the detailed source of comparative statistics for this claim.
Rakab sources also said that the bank has quickly implemented the loan waiver program of up to Tk 10,000 announced in the government’s election manifesto. Under this, loans worth Tk 227 crore have been waived off for about 240,000 farming families.

Various initiatives have been taken to make the bank’s activities more dynamic, including a new organogram, a housing loan policy, and a motorcycle loan policy. In addition, there are initiatives to implement new programs under the Tk 3,000 crore package announced by the government. The bank authorities hope that these steps will play a role in improving the financial condition of agriculture and farmers in the north-western region.

Sources also said that initiatives have been taken to reduce costs in various types of bank purchases. Strict monitoring is being carried out to ensure transparency and accountability, especially in purchases in the information and communication technology (ICT) sector.

However, some top officials of Rakab have alleged that some officials within the bank are obstructing these initiatives. On condition of anonymity, they said that while the bank management is taking initiatives to overcome various obstacles in the past, a group is creating obstacles in various ways. They also allege that the group is putting pressure on the management for taking initiatives to stop unethical benefits including transfer trading. The officials claim that Rakab has changed about 60 managing directors in the last 38 years. At various times, the managing directors have been prevented from working normally by showing mob chaos, propaganda and intimidation.

Rajshahi Krishi Unnayan Bank’s Managing Director Golam Mortaza was not available for comment as he was ill and General Manager Taj Uddin was on leave. However, Masum Billah, the Managing Director’s staff officer, said, “RAKB is conducting various activities to improve the living standards of farmers in the northern region.”

Some corrupt officials are creating obstacles in these developmental activities.’ He said, ‘All levels of Rakab officials and employees want to be freed from the captivity of a few corrupt officials. Rakab will move forward by overcoming these obstacles.’ The bank authorities claim that Rakab wants to play a more effective role in the development of agriculture and farmers by maintaining the recent progress in financial indicators.