BASIC Bank holds 37th AGM, adopts 2025 financial statements
BASIC Bank PLC, a wholly state-owned commercial bank, held its 37th annual general meeting (AGM) and adopted its 2025 financial statements on Wednesday, 16 September 2026, at the bank's head office, according to a press release.
The meeting took place at the bank's head office on Wednesday, 16 September 2026, and Chairman Helal Ahmed Chowdhury attended, according to a press release.
Financial Institutions Division (FID) Secretary Nazma Mobarek attended as the representative of the Government of Bangladesh, the bank's sole shareholder.
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BASIC Bank Managing Director (Current Charge) Abu Md Mofazzel welcomed the guests and responded to questions raised during the meeting.
Directors attending included former additional secretary and current National Pension Authority Member Munshi Abdul Ahad; FID Joint Secretary Sheikh Farid; Md Matiur Rahman, FCA, FCMA; former Grade-1 government official Dr Abu Saleh Mostafa Kamal; and retired banker SM Iqbal Hossain.
Bangladesh Bank Executive Director and Observer to BASIC Bank's Board Rup Ratan Pine, General Manager and Company Secretary Md Hasan Imam, and a representative of audit firm Kazi Zahir Khan & Co were also present.
Speaking at the meeting, Nazma Mobarek said BASIC Bank was gradually improving, with losses declining and deposits increasing. She added that reducing losses would require sustained efforts.
She said rising deposits indicated that public confidence in the bank was returning, and that the government's announcement of deposit guarantees in state-owned banks had helped restore it.
As a result, the bank's loan-to-deposit ratio had declined, increasing its lending capacity. However, she cautioned that it must disburse new loans carefully.
Nazma Mobarek expressed optimism that BASIC Bank would overcome its challenges, citing the capabilities of its board members and the quality of its workforce.
She said her participation on interview boards for the promotion of general managers and deputy managing directors had given her insight into the bank's human resources.
She praised the board and management's joint efforts to turn the bank around, and called for stronger measures to improve its classified loan position and increase non-interest income.
BASIC Bank Chairman Helal Ahmed Chowdhury said recovering defaulted loans remained the bank's main priority.
He advised the bank to strengthen loan recovery in line with Bangladesh Bank circulars, expedite legal proceedings, and comply with regulatory directives and good workplace governance.
The chairman thanked the Ministry of Finance, Bangladesh Bank and other regulatory authorities for their support and guidance.
FID Joint Secretary Sheikh Farid also emphasised the importance of increasing non-interest income.
Bangladesh Bank Executive Director Rup Ratan Pine said BASIC Bank's reputation was improving and expressed confidence in its recovery.
