Jamuna Bank's offshore depositors to receive special benefits on home loans
The managing director and CEO of Jamuna Bank discusses the special benefits it has in store for offshore banking customers, while highlight other strengths of the bank
Our customers will receive up to a 2% discount on home loans based on the amount deposited in foreign currency. This means the interest rate on home loans will be 2% lower than the current market rate. We will also offer them the opportunity to invest these funds in our bank's shares or treasury bills and bonds.
We will waive all charges on credit cards for our offshore customers. All facilities for opening their accounts will be simplified. They will be able to utilise their funds in all sectors through this account.
Jamuna Bank will ensure timely repayment of deposits taken from customers in various term placements. Regardless of whether a customer deposits for a minimum of three months or a longer term, it will make the payment whenever customers request it.
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We will also invest these funds in LC (letters of credit) bill discounting for importers, retail banking, agricultural banking and SME banking. We will strive to ensure that customers do not face any maturity mismatches.
Jamuna Bank has made a future plan by generating offshore funds and will do back-to-back or bill discounting. We plan to collect offsite deposits from expatriates or foreign nationals, foreign companies, foreign registered Bangladeshi companies or foreign companies located in Bangladesh.
Customers might wonder why they should deposit their money in Jamuna Bank when there are so many banks in the country. The answer is that our bank symbolises trust for our customers. According to reports published by the Bangladesh Bank, we are a strong bank in the green zone. We always believe in aligning the interests of our stakeholders.
Customers will oversee our shareholders. Jamuna Bank provides a specific amount of profit each year. We have consistently maintained the required amount of SLR (statutory liquidity ratio) and CRR (cash reserve ratio) against our deposits. We have never faced any shortfall in this regard.
Jamuna bank has no capital shortfall and no provision shortfall. We comply with the regulations of Bangladesh Bank.
Our earnings per share (EPS) in the first quarter of 2024 is the highest at 2.02%, which is unmatched by any other bank. We are the best dealer bank in terms of providing liquidity in the market.
Every three months, the central bank awards prizes for primary dealer banking. Jamuna Bank is the only bank that has received this award 34 times.
Last year, we provided a 26% dividend. Established in 2001, our bank has maintained an average dividend rate of 25% since its inception. We have earned the trust of our shareholders. Our liquidity coverage ratio is excellent. Our bank's leverage ratio is over 6%, well above the standard of 3.5%.
Jamuna Bank's Capital Adequacy Ratio (CAR) exceeds 17%, although the central bank suggests 12.5% is sufficient. Banks with a 15% capital ratio can offer the highest cash dividends.
We have been awarded as the best CSR bank and gained investor confidence. All these factors will demonstrate whether Jamuna Bank can be trusted.
We will offer the maximum amount of interest in the pricing area of offshore banking. The central bank has allowed a maximum of 3.5% with SOFR (Secured Overnight Financing Rate). We will give the highest rate possible for our customers. Many types of opportunities are available within our policy, which will be offered once approved. We will also submit this issue to the central bank.
