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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 46,651.53 million at the end 2008 from Taka 38,773.91 million in the previous year. The growth rate was 20.31 percent. Deposit rose from Taka 31,947.98 million in 2007 to Taka 38,368.23 million in 2008 showing a growth rate of 20.09 percent. Loans and advances stood at Taka 27,269.13 million as on December 31, 2008 against Taka 22,263.35 million at the end of 2007, recording a growth rate of 22.48 percent compared to 23.86 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 96 percent the proportion of non-performing loans to total loans increased to 3.25 percent in 2008 from 3.70 percent in 2007. Emphasis on the maintenance of quality of assets remained the centerpiece of the Bank's business strategy. Year 2008 was a period of high growth in loans and advances with 22.48 percent increase compared to 23.86 percent increase in 2007. Growth of industrial finance was moderate and loans to small and medium industries was 23.91 percent of total loans and advances. The industrial loan of Tk. 17226.40 million 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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