Special Correspondent :
Default loan-ridden Farmers Bank Ltd (FBL) management has launched country-wide campaign to regain its reputation to grab new clients- depositors and creditors.
A new generation bank awarded licence in 2013 on political consideration has lost capital adequacy due to aggressive banking, loan irregularities, gross mismanagement and undue interference by the former Board of Directors. In 2017, the bank even failed to repay its depositors money.
In this backdrop, Bangladesh Bank interfered on emergency basis. As a result, the bank has gone through massive changes in the management and the Board in an attempt to overcome liquidity crunch and back to regular business.
Five government’s financial institution – Sonali, Janata, Rupali and Agrani banks and Investment Corporation of Bangladesh – jointly injected some Tk. 750 crore in aid of the FBL’s revival.
As part of the image recovery campaign, the bank’s newly appointed Managing Director Md. Ehsan Khosru started visiting bank branches to audit the activities of customer care units in dealing with clients.
Currently, the bank has 57 branches, a statement of the bank said on Sunday. “We have given highest priority to customer’s satisfaction in all of our bank branches,” Ehsan Khasru said.
He already visited Sujatpur, Narayanpur, Chandpur and Grikalindia branches in Chandpur district on Saturday as the first part of his tour.
During the visit he met hundreds of bank clients and spoke to officials in a bid to enhance customer’s satisfaction in the bank’s day-to-day operation.
He said the FBL has come under ownership of major state owned bank and financial institution with 64 percent of its shares being owned by top state-run Sonali, Janata, Agrani and Rupali banks and the Investment Corporation of Bangladesh under restructuring scheme.
“Any investment in the bank is now completely safe and secure after the four state banks and the ICB injected Tk 715 crore into the bank. Under the current management, the bank has made a promising start, earning customers trust and investing in new businesses,” he said.
He said the bank is also being run by an efficient management who has proven records.
“Under their leadership, the bank has unveiled an ambitious plan to emerge as a top 10 banks in the country in 2021 when Bangladesh will celebrate its 50th year of independence,” he said.
