Grameen Bank has earned a good profit in the recent months despite the fact that the current management of the bank significantly cut the rate of interest for lending to poor, according to the latest data available from the bank.
The bank for poor made a profit of Taka 102 crore in the first six months of this year as against the yearly profit of Taka 139.29 in 2016. On the other hand, the bank is now charging lower rate of interest for lending to its members who mainly belong to the lower income groups of the society.
"We are now charging the highest 20.0 percent interest against a loan though the ceiling of interest is 27.0 percent fixed by the Microcredit Regulatory Authority (MRA)," acting managing director of the bank Ratan Kumar Nag told BSS, claiming that the rate is the lowest among the micro-credit organizations in the country.
Besides, he said the rate of interest is even lower for various purposes. For instance, the interest rate for education loan is 5.0 percent and for buying house is 8.0 percent. "In addition, Grameen Bank offers interest-free loan to help rehabilitate baggers and other people who are struggling for a better life," Nag said.
Apart from lowering the interest rate, the bank has also initiated exploring new areas of lending with the aims of bringing more people under its operations, the bank's high official said.
-BSS
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