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Change Your Life! |
Industrial Bank recovers record amount of loan |
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News |
July 4, 2000
Dhaka (UNB)- Bangladesh Shilpa Bank whose lending operations have been suspended for several years recovered Tk 121.55 crore from outstanding loans in the just-out fiscal year.
“It is a record recovery, which is Tk 22.57 crore more than the previous year’s realized amount,” said a BSB release yesterday (Monday).
Managing Director of the bank Rabiul Hossain said the record recovery of loan was possible due to administrative reforms and proper supervision under the bank’s four-year business plan.
“The bank is going to take up a more pragmatic policy to disburse and realize loans soon,” the MD said.
Bank sources said lending program of the industrial financing bank had been suspended for several years “due to financial crisis”.
With the liquidation of loan accounts of 10 projects in the last fiscal year (1999-2000) the credit accounts of a total of 1197 projects have so far been settled.
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