The 37th AGM of BASIC Bank Held
Published at September 16, 2026
The 37th Annual General Meeting (AGM) of BASIC Bank PLC., A 100% state-owned commercial bank, was held on Wednesday, September 16, 2026 at the Head Office of the Bank. Helal Ahmed Chowdhury, Chairman of the Bank presided over the meeting. Nazma Mobarek, Secretary, Financial Institutions Division (FID), Ministry of Finance attended the meeting as a representative of the Bank’s sole shareholder, the Govt. of Bangladesh. While Abu Md. Mofazzel, Managing Director (Current Charge) of the Bank welcome the guests and answered various questions at the meeting. The financial statements for the year 2025 of the Bank were adopted in the meeting.
Munshi Abdul Ahad, Former Additional Secretary and currently a member of the National Pension Authority, Sheikh Farid, Joint Secretary of FID, Ministry of Finance, Md. Matiur Rahman, FCA, FCMA, Dr. Abu Saleh Mostafa Kamal, former Government Official (Grade-1), S.M. Iqbal Hossain, Rtd. Banker, all Directors of BASIC Bank, and Rup Ratan Pine, Executive Director of Bangladesh Bank and Observer of BASIC Bank’s Board, GM and Company Secretary Md. Hasan Imam, and a representative of the Audit firm, Kazi Zahir Khan & Co. were present at the meeting.
FID Secretary Nazma Mobarek said in her speech, BASIC Bank is gradually improving, with its losses showing a declining trend and deposits on the rise. Losses cannot be reduced without sustained efforts. The increase in deposits means people’s confidence in the bank is returning, she said. A great deal of confidence has been restored because the government announced it would guarantee deposits in state-owned banks, she said. As a result, the bank’s loan-to-deposit ratio has declined, increasing its capacity to extend loans, she said. However, new loans must now be disbursed cautiously. We are fully optimistic about BASIC Bank and believe the bank will overcome the challenges, Nazma Mobarek said.
She said the members of BASIC Bank’s board are highly capable, while the bank also had quality human resources. I have been on interview boards for the promotion of general managers and deputy managing directors at different times, and we get an idea of the quality of the bank’s human resources from there. She appreciated the joint efforts of the board and management on turning around the bank. FID Secretary also called on all concerned to step up efforts to improve the bank’s classified loan situation. She also emphasized to increase the bank’s non-interest income.
BASIC Bank Chairman Helal Ahmed Chowdhury said recovery of defaulted loans is the bank’s main focus. He advised the bank to strengthen the recovery process for defaulted loans in line with Bangladesh Bank circulars and expedite legal proceedings. At the same time, he stressed the importance of properly complying with all directives issued by regulatory authorities and ensuring good governance in the workplace.
The Chairman expressed his gratitude to the Ministry of Finance, Bangladesh Bank and other regulatory authorities for their support and guidance.
FID Joint Secretary Sheikh Farid emphasized the importance of increasing the bank's non-interest income. Bangladesh Bank Executive Director Rup Ratan Pine said the reputation of BASIC Bank is improving and expressed confidence that the bank would turn around.