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The performance of BASIC Bank
Limited has been satisfactory since its inception in respect of all the measurement
parameters. The total assets of the Bank increased to Taka 29,417 million at the end 2006 from Taka 27,136 million in the previous year. The growth rate was 8.40 percent. Deposit rose from Taka 22,325 million in 2005 to Taka 24,084 million in 2006 showing a growth rate of 7.87 percent. Loans and advances stood at Taka 19,000 million as on December 31, 2006 against Taka 15,339 million at the end of 2005, recording a growth rate of 23.86 percent compared to 29.28 percent in the previous year. All out efforts were made to improve the recovery rate and control non-performing loans and advances. Although the recovery rate of project loans remained stable in the neighborhood of 97 percent the proportion of non-performing loans to total loans was 3.70 percent at the end of the year under review from 4.55 percent in 2005. Emphasis on the maintenance of quality of assets remained the centerpiece of the Bank's business strategy. Year 2006 was a period of high growth in loans and advances increased by 23.86 percent to Taka 19,000.00 million compared to Taka 15,339.35 million in 2005. Growth of industrial finance was moderate and loans to small and medium industries was 51.70 percent of total loans and advances. The industrial loan of Tk. 998.75 crore was distributed among 13 sectors. Textile sector registered the highest concentration being 36.24 percent of industrial loans and 23.59 percent of total loans. Textile sector is followed by: food & allied industries - 13.73 percent of industrial loans and 8.94 percent of total loans, chemical & allied industries - 12.97 percent of industrial loans and 8.44 percent of total loans and engineering - 11.44 percent of industrial loans and 7.45 percent of total loans. |
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