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The 700th meeting of the Board of Directors of state-owned BASIC Bank PLC was held on Wednesday, 26 November 2025, at the bank’s head office boardroom in Motijheel, Dhaka.
The meeting, presided over by Chairman Helal Ahmed Chowdhury, focused on the bank’s current operations, financial indicators, and strategic priorities for the coming months, according to a press release.
Among those present were Munshi Abdul Ahad, Additional Secretary of Finance Division, Ministry of Finance, Sheikh Farid, Joint Secretary of FID, Ministry of Finance, Md. Matiur Rahman, FCA, FCMA, Md. Abdul Ahad, former Additional Secretary, Dr. Abu Saleh Mostafa Kamal, former Government Official (Grade-1), S.M. Iqbal Hossain, all Directors of BASIC Bank, and Md. Sirajul Islam, Executive Director of Bangladesh Bank and Observer of BASIC Bank’s Board, Md. Quamruzzaman Khan, Managing Director & CEO and Md. Hasan Imam, Company Secretary.
The Board approved several strategic decisions to accelerate business growth, recovery of classified loans, strengthen financial stability, and enhance risk management.
It was noted with satisfaction that customer confidence has regained significantly since the new Board assumed responsibility.
A large number of new current and savings accounts, both from government and private entities, have been opened, contributing to improved deposit inflows.
The Board also reviewed the bank’s compliance indicators. CRR remains in surplus, while SLR maintenance is showing promising improvement and close to the benchmark.
Despite legal constraints, the bank has succeeded in recovering a notable volume of non-performing loans, helping to reduce overall portfolio risk.
The Board expressed optimism that classified loans will decrease by 11 percent by December 2025. The Board asked the management to maintain ethical standard and all compliances.
Regarding the year’s financial performance, the meeting was informed that ongoing efforts are on track to reduce losses by Tk. 100 crore within 2025. The Board acknowledged these achievements as strong signs of progress in BASIC Bank’s ongoing recovery and transformation.
The meeting concluded with a firm commitment to implementing all decisions promptly and further improving customer service, with the objective of strengthening BASIC Bank as a stable, efficient, and sustainable financial institution.