Performance contract to be signed with Bangladesh’s state-owned banks

Dhaka, Bangladesh (BBN)–  The government is going to sign performance contract with the state-owned banks (SoBs) to improve their financial health through strengthening efficiency of the management, officials said on Wednesday.
The Ministry of Finance (MoF) has already set 13 key indicators including profit after tax, classified loan situation, cash recovery position, capital adequacy ratio, return on assets, automation status, and human resources development for the contract to improve operational performance of the eight SoBs.
 “We’re setting the target of indicators. It will be revived on monthly basis,” a senior official of MoF told BBN in Dhaka preferring anonymity.
Currently, the Bank and Financial Institutions Division (BFID) of MoF is discussing the issue with chief executive officers (CEOs) and managing directors (MDs) of the SoBs as well as senior officials of the Bangladesh Bank (BB).
A meeting is scheduled to be held at MoF in this connection on February 10 with BFID Secretary M Aslam Alam in the chair.

BBN/SSR/AD-05Feb15-12:46 am (BST)

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