Written by The Banking Post
National Bank PLC has launched a series of special campaigns to strengthen its deposit base and restore public confidence, marking early signs of recovery under its reconstituted board.
The deposit attrition rate dropped sharply to 0.08 per cent by end-August, compared to over 3 per cent negative last December, according to senior executives. The bank mobilised Tk 5.40 billion in deposits during July–August through employee-driven campaigns that far exceeded their targets.
In one initiative, each staff member was asked to collect Tk 50,000 in deposits over a week in July; the effort delivered nearly 250 per cent of the target. Two follow-up campaigns in August—tasking staff to mobilise Tk 100,000 and Tk 150,000 each—achieved 185 per cent and 176 per cent of targets, respectively.
As a result, aggregate deposits edged up to Tk 340.41 billion at the end of August from Tk 340.24 billion a month earlier. Managing Director Adil Chowdhury said, “Over the past two months, we have undertaken bold measures to strengthen National Bank and restore the trust of our valued customers. These initiatives are already yielding visible results.”
During July–August, the bank recorded Tk 39.29 billion in cash inflows and opened 34,970 new accounts, which brought in Tk 14.83 billion in fresh deposits. It also resumed online banking services in over 100 branches and rolled out community-level trust-building programmes.
Mr. Chowdhury added that remittances, Sanchayapatra transactions, and LC payments are now being fully ensured, underscoring the bank’s commitment to financial discipline.
National Bank, once plagued by liquidity stress, is now diversifying its offerings with more than 20 deposit products, including its flagship Kotipoti Deposit Scheme, in a bid to rebuild long-term customer loyalty.
