Rupali Bank opened a model branch in Dhaka on Saturday with a vision of turning the loss-making public property into a profitable one.
Bangladesh Bank governor Atiur Rahman inaugurated the branch at Gulshan in Dhaka, expressing hope that this step would encourage the revitalisation of other public and private enterprises, reports Bangladesh Sangbad Sangstha.
Rupali Bank chairman Ahmed al-Kabir said 128 branches, 50 with automated teller machines, would be set up across the country after the Gulshan model in three to four months.
He said all the 492 branches of the bank would have automated banking facilities by next year while other modern services would be introduced in phases.
The chairman said the negative balance of the bank had already been sorted out so it could start its new journey towards becoming a sound public property.
Established in 1971, Rupali Bank was on the brink of losing the ‘public’ status in a move to privatisation in the recent past.
BB chief Atiur said the privatisation would not have brought any positive result as the process lacked transparency. He said the objection of the civil society had led to the eventual scraping of the process.
The managing director of Rupali bank, M Farid Uddin, said the bank would work for encouraging Public-Private Partnership.
Rupali signed an agreement with the privately-owned BRAC bank to share ATM services at Westin Hotel in the capital on Saturday.
According to the deal, BRAC Bank will install 50 ATM booths for Rupali Bank at various locations around the country within 30 weeks and provide Rupali Bank with the ATM cards. In return, customers of BRAC Bank will be allowed to utilise the booths.
Consumers of Rupali Bank’s ATM card services will also be able to utilise 200 ATM booths owned by BRAC bank and 700 other booths under a network.
