Dhaka: Ansar-VDP Unnayan Bank has regained strength and turned around after reforming key policies and taking strategic decisions in the last one year since Bangladesh Ansar and VDP Director General Major General Abdul Motaleb Sazzad Mahmud assumed responsibility as the bank chairman.
According to Bangladesh Sangbad Sangstha, Mahmud elaborated the insights of the reforms and policy decisions in an interview. He highlighted the "Sanjiban Project," a livelihood-based collective investment initiative currently in the piloting stage, aiming to ensure the welfare of members and improve socio-economic conditions at the grassroots level.
Mahmud noted the introduction of personal loans for the officers and employees of the force and the bank, aimed at providing financial assistance to members and improving their standard of living. This initiative is supported by a new board of directors and a restructured executive committee, prioritizing individuals with knowledge of banking and finance.
The director general emphasized the formation of an audit committee and a risk management committee to ensure transparency and accountability. Additionally, the Ansar-VDP Unnayan Bank Job Regulations-2005 has been updated and an HR manual has been formulated for daily work discipline.
Discussing manpower, Mahmud stated that the bank's total manpower is 2,878, with current working manpower at 716, leading to disruptions. Measures have been taken to recruit and evenly distribute manpower, including 189 senior officers and 300 data entry operators, with promotions and temporary appointments also underway.
In loan management, amendments have been made to the bank's Integrated Loan Policy, and timely adjustments to loan interest rates have been issued. The period of state guarantee for loans in the agricultural and rural credit sector has been extended.
Addressing ICT advancements, Mahmud acknowledged the bank's lag in automation but stated that initiatives are underway to bring the bank under complete automation with CBS, including recruiting ICT manpower and data entry operators.
Regarding financial performance, Mahmud reported a reduction in loss-making branches and a decrease in loan provisions, resulting in a net profit of about Tk 2 crore from a previous loss of Tk 44 crore.
On debt collection, Mahmud detailed strategies for recovering classified loans, achieving significant reductions in classified loan balances and recovering substantial amounts in cash.
Mahmud concluded that by enhancing the bank's income and internal capacity, the reform program will transform Ansar-VDP Unnayan Bank into a modern, sustainable, and member-friendly financial institution, ensuring the welfare of the force's members.