Bangladesh Bank appoints observer to One Bank
The bank’s operating income declined to Tk612 crore during January-September this year in contrast to Tk677 crore over the same period last year
The Bangladesh Bank on Sunday appointed an observer to One Bank as the latter's present performance is not good.
A senior central bank official confirmed it to The Business Standard.
The central bank usually appoints observers to banks and financial institutions when they face crisis.
Sajjad Hossain, general manager of the Department of Banking Inspection-1, has been appointed as the supervisor, the official said.
Top officials at One Bank complained that the bank has not been doing well since its current chairman took the charge, he added.
Against this backdrop, the central bank inspected the bank's overall aspects and recommended the appointment of an observer, the official also said.
The senior central bank official said the observer has been appointed to the bank after the Bangladesh governor accepted the recommendation.
ASM Shahidullah Khan has been performing his duty as the chairman of One Bank since 15 October, while M Fakhrul Alam, managing director of the Bank, has been in charge since 2016.
The bank's operating income declined to Tk612 crore during January-September this year in contrast to Tk677 crore over the same period last year.
However, the bank's profit after tax has increased to Tk107 crore during the time from Tk57 crore in the same time a year ago.