SBAC Bank PLC’s Chairman, Md Moklesur Rahman, assured depositors of the bank’s safety and emphasized that both the board and management are actively implementing measures to ensure seamless customer service. Addressing a press conference commemorating the bank’s 13th anniversary, Rahman reiterated the institution’s unwavering dedication to the nation and its clientele.
Rahman stressed the foundational importance of trust in banking, emphasizing that trust is cultivated over time through ethical conduct and high standards. He highlighted the bank’s proficient board and management team, underscoring their efforts to fortify this trust.
The chairman outlined the bank’s dual objectives of achieving institutional success and contributing to national development, particularly focusing on agriculture and food production. Additionally, the bank aims to enhance value-added services for international job seekers and foster entrepreneurship among the youth.
Regarding loan-related challenges in the banking industry, Rahman flagged the issue of misappropriation of borrowed funds into non-productive ventures as a significant concern. He underscored the bank’s willingness to assist young entrepreneurs in sectors like poultry farming, even in cases of losses, but cautioned against unauthorized diversions of loan funds.
Responding to inquiries about dividends, Rahman acknowledged the stringent regulatory measures in place, restricting dividend payouts when asset quality falls below stipulated levels. Managing Director SM Mainul Kabir affirmed the bank’s sound liquidity position, emphasizing their cautious approach to financing quality clients over aggressive investments. Kabir also highlighted intensified legal actions against deliberate loan defaulters.
