The rate of defaulted loan at BASIC Bank decreased to 12.42 per cent only at the yearend of 2013 which is one of the lowest among the state-run commercial banks, according to a BASIC Bank news release. Though BASIC Bank had to face an unexpected midyear encounter with memorandum of understanding from Bangladesh Bank, diligences of the bank management as well as the workforce has started salvaging the bank, the press release said.
Under the present circumstances, assistance from the BB also proved very helpful in dodging the hindrances, it said. It was found that comparing to the last year total deposit growth during the year 2013 was 52.50 per cent equivalent to Tk 4,604 crore whereas loan grew 21 per cent equivalent to Tk 2,347 crore, said the release.
Though the BB intervened in loan growth of BASIC Bank, it succeeded securing operating profit of Tk 178 crore in the just-concluded year, the bank said.
Due to introduction of various attractive deposit schemes, the bank was able to maintain regulatory requirement, said the release. In the last working day of 2013, the LD ratio of the bank was only 76 per cent, it added.
-With New Age input
