Dhaka: The 37th Annual General Meeting (AGM) of BASIC Bank PLC has approved the bank's financial statements for the year 2025. The meeting took place at the bank's head office and was chaired by BASIC Bank Chairman Helal Ahmed Chowdhury. According to Bangladesh Sangbad Sangstha, the event was attended by Nazma Mobarek, Secretary of the Financial Institutions Division (FID) of the Ministry of Finance, representing the bank's sole shareholder, the Government of Bangladesh. Managing Director (Current Charge) Abu Md Mofazzel welcomed the attendees and addressed various queries during the meeting. During the AGM, FID Secretary Nazma Mobarek noted that BASIC Bank is on a path of gradual improvement, with a notable decline in losses and an increase in deposits. She emphasized that the growing deposits indicate a resurgence of public confidence in the bank. Mobarek highlighted the government's initiative to guarantee deposits in state-owned banks as a factor contributing to this confidence. Mobarek pointed out tha t the bank's loan-to-deposit ratio has decreased, enhancing its capacity to issue loans. However, she urged careful consideration in the disbursement of new loans. Expressing optimism, she believed that BASIC Bank would overcome its challenges with the joint efforts of the board and management. She also called for intensified efforts to improve the bank's classified loan situation and to increase non-interest income. BASIC Bank Chairman Helal Ahmed Chowdhury focused on the recovery of defaulted loans as the bank's primary objective. He advised aligning recovery processes with Bangladesh Bank circulars and expediting legal proceedings. Chowdhury also stressed the importance of adhering to regulatory directives and maintaining good governance. The AGM also saw contributions from other notable figures. FID Joint Secretary Sheikh Farid highlighted the need to boost the bank's non-interest income. Bangladesh Bank Executive Director Rup Ratan Pine expressed confidence in the bank's improving reputation and potent ial turnaround. The meeting was attended by various dignitaries, including Munshi Abdul Ahad, former additional secretary; Sheikh Farid, Joint Secretary of FID; Md Matiur Rahman, FCA, FCMA; Dr Abu Saleh Mostafa Kamal, former government official; S M Iqbal Hossain, retired banker; directors of BASIC Bank; and the observer of BASIC Bank's board, Rup Ratan Pine. Other attendees included General Manager and Company Secretary Md Hasan Imam and a representative of the audit firm Kazi Zahir Khan and Co.
