RAKUB expedites agro-based economy in northwest region

Rajshahi Krishi Unnayan Bank (RAKUB) has been expediting the existing agro-based economy through financial investment in the country’s northwest region.

The specialized state-owned commercial bank has been extending 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 while sharing their views in the 570th board meeting with its Chairman Roisul Alam Mondal in the chair here on Sunday.

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 Habibur Rahman, Dr Dewan Muhammad Humayun Kabir, Shamsul Wadud, Abdul Wahed Mondal and Aftab Hossain joined the meeting held at RAKUB headquarters boardroom.

Niranjan Chandra Debnath told the meeting that their bank has attained operational profit worth Taka 44.8 crore in the last 2021-2022 financial year overcoming the loss of Taka 3.10 crore incurred in the previous 2020-2021 fiscal year.

It has also attained operational profit worth Taka 22.95 crore during the first six months of the 2022-2023 financial year up by Taka 19.31 crore in corresponding period of the previous 2021-2022 fiscal year.

Niranjan Debnath said they disbursed agricultural loans of around Taka 1,954.17 crore aimed at increasing crop production and boosting rural economy during the first six months of the last fiscal year.

Target had also been set to recover loans of Taka 3,526 crore, including classified loans with Taka 500 crore, and raise deposit collection to Taka 3000 crore.

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. (BSS)