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The liquidity crisis-hit National Bank is hopeful of its turnaround within the next few months, largely riding on the cash support provided by the central bank.
The recently-reconstructed board members of the first-generation commercial lender expressed this optimism at a press conference marking their 100 days of work on Thursday. They called on their valued clients to stay with them during the upcoming journey towards prosperity.
The bank had set a turnout strategy to reach the turnaround, intensifying its focus on foreign trade, loan recovery, and remittance inflows, Chairman Abdul Awal Mintoo told the press briefing at the bank's headquarters in the capital.
"We have taken these initiatives to bring back normalcy in the bank within the next two to three months," he said.
As part of the loan recovery plan, the bank will put in maximum efforts to recover written-off, sub-standard, doubtful, and bad loans as well as loss accounts using different mechanisms, according to the chairman.
"We will recover cash by selling attached assets after completing legal procedures," Mintoo explained.
He also said the bank had already strengthened its six overseas subsidiaries to collect more remittances from Bangladeshi expats in different parts of the world.
The chairman said the bank would be able to bring back stability within the next three months by adjusting cash deposits and withdrawals.
National Bank was now trying to identify all types of multi-dimensional and multi-party irregularities that had occurred earlier, Mintoo noted.
"Five audit teams, both internal and external, are now working to find out the irregularities," he said, adding the reconstituted board was now trying to recover all the laundered money.
The chairman assured depositors their funds were safe and well-protected, emphasising the bank remained committed to delivering the best services, driven by their trust and support.
He also said National Bank, the country's first private commercial bank, was doing business with goodwill. "So do not worry."
Among others, the bank's Vice-Chairman Moazzam Hossain, Director Muklesur Rahman, and Managing Director and Chief Executive Officer Md Touhidul Alam Khan spoke on the occasion.