The New Nation - Internet Edition

BUSINESS REPORT

Credit Rating Information and Services Limited reaffirmed Long Term Rating 'AA' and Short Term Rating ST-I. This rating was given on the basis of IBBL's wide branch network, strong marker share, stable customer deposit base, diversified and innovative Shari'ah based product lines, experienced management team, own professional and competent cadre at each management level, contribution to social responsibility, good financial performance, good asset quality, comfortable liquidity position and low cost of fund.

This information was disclosed in a coordination meeting of the top executives of Islmai Bank Bangladesh Limited. Presided over by M Fariduddin Ahmad, Managing Director of the bank the meeting was attended among others by top executives of head office, managers of corporate branches and heads of Dhaka North, South and Central Zones including Mohd Shmsul Haque, Mohammad Abdul Mannan and Md Habibur Rahman, Deputy Managing Directors of the bank.

It was disclosed in the meeting that total deposit of Islami Bank Bangladesh Limited stood at Tk 182,295 million as on June 30 last showing a growth rate of 22.96 per cent against the corresponding period of the previous year. In the same period the bank invested Tk 195,914 million with a growth of 33.70 per cent. The bank handled foreign business of Tk 220,633 million showing a growth rate of 86 per cent against the corresponding period of the previous year.

The volume of import of the bank during the period was Tk 107,739 million registering a growth rate of 111 per cent, export was Tk 465,61 million registering a growth rate of 50 per cent and remittance was Tk 663,33 million showing a growth rate of 82 per cent.

M. Faiduddin Ahmad, Managing Director of the bank stressed upon reaching the doors of all stages of people for deposit.

He said people of all segments should be involved with the bank. He viewed that investment should be dispersed to all stages of the society instead of confining it among the few. He stressed upon the creation of new and potential entrepreneurs.

He suggested to be vigilant enough to save the bank from over due culture and emphasised upon the recovery of investment.