In an effort to strengthen the recovery of non-performing loans (NPLs), state-owned BASIC Bank Limited organised a seminar on “NPL and Liability Management” on Monday.

The seminar was held at the bank’s training institute in the capital and brought together board members, senior executives, and the bank’s internal task force team leaders to discuss strategic approaches to loan recovery and risk mitigation, procurement of deposits, providing SME loans, good customer services, etc.

Helal Ahmed Chowdhury, Chairman of the bank’s Board of Directors, attended as the chief guest, while Managing Director & CEO Md Quamruzzaman Khan presided over the seminar and delivered the welcome speech.

The event was also graced by board members, including Nahid Hossain, Md Abdul Khaleque Khan (freedom fighter), Md M Latif Bhuiyan, and Md Rafiqul Islam, who attended as special guests.

Heads of the bank’s newly-formed 30 internal task forces for NPL recovery also participated, underscoring the bank’s commitment to resolving its classified loan issues, improving further fund positions, customer services, and other issues of daily banking activities.

During his address, Helal Ahmed stressed the urgency of accelerating efforts to recover classified loans, highlighting the critical role of the internal task force team leaders in this endeavour.

He urged officials to go for exclusive negotiations with the prospective defaulted borrowers under the cover of prudential guidelines of the regulators and expedite legal procedures to ensure the smooth execution of the NPL recovery process.

Putting emphasis on strict compliance with regulatory instructions and ethical standards, Helal urged the officials to change their mindset for improving the image of the bank by providing excellent customer service.  

Quamruzzaman Khan called upon all to work with visionary zeal to change the present position of the bank to a prestigious one. He elaborated on the modus operandi of the activities of the task forces for successful outcomes.

The seminar also featured discussions on loan risk assessment, with speakers emphasising the importance of strict due diligence in borrower selection and mortgage evaluation to mitigate future loan defaults.