The New Nation - Internet Edition

UNB, Dhaka

The three recently corporatised state-owned commercial banks could not achieve their targets in performance.

After a performance review meeting yesterday, Finance Adviser Dr Mirza Azizul Islam said in many areas, the banks failed to reach their targets.

In this regard, he particularly mentioned the recovery of default loans, net profits before and after tax, cost of income, customer service and dealing with non-performing loans.

"They (state-owned banks) have to improve more in these areas… We'll continue to monitor and review their performances on a regular basis every three months," said the finance adviser. He, however, said there were some progresses as well in the performance of the newly corporatised banks.

He noted that the Finance Ministry being the only shareholder of the banks has a responsibility to review their performance.

The caretaker government turned the state-owned Sonali, Agrani and Janata Banks into public limited companies few months back under a move of corporatisation as part of reforms in banking and financial sector.

The day's review meeting was the first to evaluate their performance by the Finance ministry.

Dr Aziz said that the three banks have separately submitted three development plans aimed at improving their performance. Agrani Bank chairman and former finance secretary Siddiqur Rahman said that his bank has taken some steps to improve particularly in three areas such as recovery of default loans, quick disposal of loans and improvement of customer services.

He informed reporters that Agrani Bank would complete computerisation of its banking system within a year.

He also said that they would take steps to hand over foreign remittance within a day.

Agrani Bank managing director and CEO Syed Abu Naser Buktear Ahmed said that his bank has introduced a special loan with minimum interest of 10 percent to support Bangladesh workers going on overseas employment.