Kamruzzaman Bablu :
BASIC Bank will get a fund of Tk1,000 crore from the government to improve clients’ trust damaged by massive corruptions.
The fund was proposed at a meeting recently with Senior Finance Secretary Hedayatullah Al Mamun in the chair, said officials concerned.
BASIC Bank’s senior officials were also present at the meeting held at the finance ministry’s auditorium.
A finance division official said the money will be given from the recapitalisation funds in the revised budget outlay.
Finance Minister AMA Muhith already said they would treat BASIC Bank with special emphasis to help it meet capital shortfall.
He said the bank needs “special nurturing” as it’s condition is not normal now. “It cannot be compared with other banks.”
Finance ministry thinks without recapitalisation funds, the bank will not be able to do business.
BASIC is running its Letter of Credit business with the help of Sonali Bank.
BASIC received Tk2,390 crore from the budget allocation under the government recapitalisation programme during last five years.
According to the Finance Division working papers, the capital shortfall of the BASIC Bank is Tk1,934.5 crore while the capital reserve ratio was only 7.55% in 2015.
At present, a total of Tk2,000 crore has been allocated for recapitalisation of the state-run banks in the revised budget.
The two state-owned financial institutions and private IFIC Bank are going to get recapitalisation funds in the revised budget.
They said only Tk1,365.50 crore is left for recapitalisation which is likely to be disbursed among seven state-owned banks suffering capital shortfalls, including BASIC Bank and Sonali Bank.
Probashi Kallyan Bank will get Tk250 crore while Bangladesh House Building Finance Corporation will be given Tk200 crore.
Finance ministry will provide Tk184.65 crore to the IFIC as the private commercial bank earlier decided to increase paid-up capital through issuance of rights share after considering bonus shares for stock dividend.
BASIC Bank will get a fund of Tk1,000 crore from the government to improve clients’ trust damaged by massive corruptions.
The fund was proposed at a meeting recently with Senior Finance Secretary Hedayatullah Al Mamun in the chair, said officials concerned.
BASIC Bank’s senior officials were also present at the meeting held at the finance ministry’s auditorium.
A finance division official said the money will be given from the recapitalisation funds in the revised budget outlay.
Finance Minister AMA Muhith already said they would treat BASIC Bank with special emphasis to help it meet capital shortfall.
He said the bank needs “special nurturing” as it’s condition is not normal now. “It cannot be compared with other banks.”
Finance ministry thinks without recapitalisation funds, the bank will not be able to do business.
BASIC is running its Letter of Credit business with the help of Sonali Bank.
BASIC received Tk2,390 crore from the budget allocation under the government recapitalisation programme during last five years.
According to the Finance Division working papers, the capital shortfall of the BASIC Bank is Tk1,934.5 crore while the capital reserve ratio was only 7.55% in 2015.
At present, a total of Tk2,000 crore has been allocated for recapitalisation of the state-run banks in the revised budget.
The two state-owned financial institutions and private IFIC Bank are going to get recapitalisation funds in the revised budget.
They said only Tk1,365.50 crore is left for recapitalisation which is likely to be disbursed among seven state-owned banks suffering capital shortfalls, including BASIC Bank and Sonali Bank.
Probashi Kallyan Bank will get Tk250 crore while Bangladesh House Building Finance Corporation will be given Tk200 crore.
Finance ministry will provide Tk184.65 crore to the IFIC as the private commercial bank earlier decided to increase paid-up capital through issuance of rights share after considering bonus shares for stock dividend.
