Agrani Bank secures 1st position yet again in remittance collection

In terms of foreign remittance collection, state-owned Agrani bank has managed to retain the first position among the state-owned banks and the second position among all the banks this year.

In 2019, the bank received foreign remittances of Tk14,863 crore, which is Tk2,163 or 18.22% more than that in 2018.

The information was presented at the 13th Annual General Meeting of Agrani Bank Ltd held on Thursday through an online video conferencing, reads a press release. 

Prominent economist Zayed Bakht presided over the programme.

It was said in the meeting that total imports in 2019 amounted to Tk38,841 crore which is Tk15,290 crore or 64.92% more than in the previous year, and total exports amounted to Tk10,873 crore which is 31% higher than that in 2018. 

At the meeting, the audited financial statements for 2019 were unanimously approved. Also, the appointment of A Kashem and Co and Messrs Mashih, Muhith Haque and Co were approved as external auditors of the bank for the year 2020.

Mohammad Shams-ul Islam, managing director and CEO of the bank, spoke on the success of the bank in 2019, its business activities and the state of its financial indicators.

He described the role of the bank in various services including deposits, loans and advances, operating profit, import, repayment, remittance, collection of classified loans, and described in detail the contribution and success of the state-owned institution in society and the national economy. 

In 2019, the total assets of the bank increased by Tk6.478 crore or 8.21% over 2018 to Tk85,393 crore. Out of the total assets of the bank, the amount of interest-bearing assets is Tk53,002 crore which is 62% of the total assets, he added.

Agrani Bank has continued its banking activities in all spheres with skilled manpower to achieve the economic development and growth of the country. Committed to the development of the country and the nation with the best service, the bank is moving forward on the ladder of success, said Shams-ul Islam. 

In 2019, the number of loans and advances increased by 17.71% to Tk46,583 crore from Tk39,575 crore in 2018. 

Despite the increase in classified loans in the banking sector, Agrani Bank Ltd has been able to curb classified loans. In 2019, the number of classified loans decreased by 5.01% to Tk6,643 crore from Tk6,993 crore in 2018. 

The bank, in 2019, adopted various plans for the development of small and medium industries with the implementation of the government's goals. As a result, a total of Tk5,543 crore has been disbursed through 29,837 loans till December 31, 2019.

ABM Ruhul Azad, an additional secretary, ministry of finance, expressed satisfaction over the achievements of Agrani Bank in all fields. He hoped the bank would be able to take the top position as a state-owned bank by achieving higher growth in all economic indicators in the future. 

Prominent economist Zayed Bakht, the chairman of the bank, discussed the audited financial statements for 2019. He expressed satisfaction over the unprecedented progress and success of all the business and financial indicators of the bank.

Among others, observers of the Bangladesh Bank, deputy managing directors, general managers and representatives of audit firms attended the meeting.