'Padma Bank to enter stock market in one year'

Finance Minister AHM Mustafa Kamal hopes that Padma Bank Limited would be listed in the country's stock market within the next one year as the bank has already passed its first one year successfully.

"Just a year after, Padma Bank was re-launched under a new name and it gained trust of its clients with new saving products," he said while speaking as the chief guest at the first anniversary and annual business conference of the Padma Bank at a hotel in the city on Tuesday.

Padma Bank Chairman Chowdhury Nafeez Sarafat presided over the ceremony while Janata Bank chairman Dr Jamaluddin Ahmed and ICB chairman Professor Mojib Uddin Ahmad attended the function as special guests.

Kamal said just a year after Padma was rel-aunched under a new name it gained trust of its clients with a flurry of new saving products and agreements with some of the world's largest money exchange companies.

"I hope the bank will float shares in the stock market within the next one year. The prime asset of a bank isn't its cash reserve, rather the trust it creates among its clients. Padma Bank has earned that trust," he said.

Banking Division secretary Md Asadul Islam spoke on the occasion and expressed his firm belief that Padma would march forward through its exceptional teamwork.

Managing Director and CEO of Padma Bank Md Ehsan Khasru highlighted the first year's achievements of Padma, saying the bank has turned around from its heady days two years ago. "In 2018, our classified loan was 375 crore taka. In 2019 it stood at 800 crore taka and this year it expected to hit 1,100 crore taka. In 2020 we want to make cash recovery of 405 crore taka," he said.

Padma Bank Chairman Chowdhury Nafeez Sarafat thanked the bank's clients for keeping their faith in the bank and for injecting new deposit. He said Padma would commemorate the hundredth birth anniversary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman with events and festivities.

Chairman of the Sonali Bank Ziaul Hasan Siddiqui in his brief speech also shed lights on Padma's successes, saying the bank has achieved financial goals in scaling up its deposits and recovery.

Directors of the bank including Dr Hasan Taher Imam and Tamim Marzan Huda, Sonali Bank Managing Director and CEO Md Ataur Rahman Pradhan, Janata Bank Managing Director and CEO Md Abdus Salam Azad (FF), Agrani Bank Managing Director and CEO Mohammad Shams ul Islam, Rupali Bank Managing Director and CEO Md Obayed Ullah Al Masud and ICB Managing Director Md Abul Hossain with branch managers and departmental heads of Padma Bank were present at the conference.

Eleven officers who achieved major successes in collecting deposits and recovering loans were awarded prizes during the program.