Janata Bank reaches targets for 2015

Janata Bank has reached all but one of the performance targets for 2015, including reducing classified loans and making a profit.

Janata surpassed 12 of the 13 performance targets set by the government, Abdus Salam, managing director of the bank, told reporters yesterday.

The Banking and Financial Institution Division last year signed perfor-

mance agreements with all state owned financial institutions to improve their financial health and to hold them accountable.

The bank needed to bring down its classified loans to Tk 3,000 crore, but it was able to slash it to Tk 2,850 crore, he said. Janata's classified loans stood at Tk 3,738 crore in 2014.

Realising written-off loans is very difficult, but the bank recovered Tk 143 crore of those, against a target of Tk 130 crore, out of a total of Tk 2,609 crore, Salam said. 

The only target unachieved was in cash recovery against default loans, which stood at Tk 341 crore instead of the required Tk 750 crore, he added.