RAJSHAHI, Sept 20, 2024 (BSS) - Rajshahi Krishi Unnayan Bank (RAKUB) has been
boosting the agro-based economy through financial investment in the country's
northwest region.
 
The specialized state-owned commercial bank has been providing loans to the
grassroots farmers to supplement the government efforts of making the country
self-reliant in food production.
 
The Board of Directors of the bank revealed this on Thursday while sharing
their views in the 584th board meeting with its Chairman Roisul Alam Mondal
in the chair.
 
Through its 383 branches at present, RAKUB has been operating its activities
as the largest development partner in all the 16 northwest districts of
Rajshahi and Rangpur divisions targeting the agricultural sector and all its
sub-sectors.
 
As the largest development partner in agriculture as well as agro-based
industrial sector of northwest Bangladesh, currently, the bank has adopted
the effective work plan which is being implemented at the grassroots-level to
attain all the targets within the stipulated time.
 
RAKUB has not only developed the agricultural sector in the country's
northwest region but also played a vital role towards its industrialisation.
 
RAKUB Managing Director Niranjan Chandra Debnath and Directors Dr Dewan
Muhammad Humayun Kabir, Abdul Wahed Mondal, Nazrul Islam, Mahmudul Faruque
and Obayedur Rahman Mondal joined the meeting held at RAKUB headquarters
boardroom.
 
Niranjan Chandra Debnath said that their bank has attained a neat profit
worth Taka 2.98 crore during the last 2023-2024 financial year freeing the
curse of continuous losses since its establishment around 37 years back.

"We have attained a neat profit overcoming the losses of Taka 224.15 crore
incurred in the previous 2022-2023 financial year," he added.
 
At present, the number of loss-making branches has been reduced to 12,
declining the number to 48 in the last fiscal year from the previous year's
60.
 
Apart from this, deposit and debit balances have been inclined to Taka 7,180
crore and Taka 7,837 crore from the previous year's Taka 6,777 crore and Taka
7,587 crore respectively.
 
On the contrary, the balance of classified loans has been reduced to Taka
1,242 crore from Taka 1,430 crore reaching the classified loan to 16 percent
from 19 percent.

The bank is bringing all existing agricultural potential sectors and sub-
sectors under qualitative and quantitative investments to make the region's
agro-based economy more vibrant.