Customers have applied to withdraw Tk 5.01 billion in deposits from National Bank PLC over four days. The bank authorities said the requested funds would be returned to customers according to their needs starting Thursday, October 15.
National Bank Chairman Professor Dr Melita Mehzabeen believes the deposit withdrawal requests primarily reflect customers’ confidence in the bank. The bank disclosed the information to the media on Wednesday, October 14.
Earlier, state-owned Sonali Bank decided to provide National Bank with a Tk 70 billion loan to address its liquidity challenges and meet depositors’ demands. The loan will be provided against a guarantee from Bangladesh Bank.
According to central bank sources, National Bank began accepting withdrawal applications from depositors on Sunday, October 11. Around 7,500 customers applied for refunds within the first two days. Over four days, the total amount requested reached Tk 5.01 billion.
Customers applied to withdraw Tk 1.88 billion on the first day, Tk 1.25 billion on the second day, Tk 1 billion on the third day and Tk 880 million on Wednesday, the fourth day.
The bank authorities said customers would be able to withdraw their deposits according to their needs from October 15. Sufficient cash has been arranged at all branches and ATM booths to facilitate the withdrawals.
On October 8, National Bank Chairman Professor Dr Melita Mehzabeen and Managing Director Zafar Ahmed met Bangladesh Bank Governor Md Mostakur Rahman. The meeting discussed the bank’s liquidity situation, depositors’ withdrawal demands and its overall operations.
Bangladesh Bank Deputy Governors Dr Md Habibur Rahman, Dr Md Kabir Ahmed, Md Sarwar Hossain and Md Anisur Rahman were also present.
During the meeting, the National Bank chairman informed the governor that recent measures taken by Bangladesh Bank had helped establish good governance at the bank. She also highlighted positive changes in senior management aimed at improving efficiency and operational capacity.
Governor Md Mostakur Rahman said Bangladesh Bank was monitoring National Bank’s liquidity situation and its ability to meet depositors’ withdrawal demands. He instructed the bank to take necessary measures to protect depositors’ interests, maintain public confidence in the banking system and ensure orderly operations.
The bank authorities were specifically instructed to ensure that all depositors could withdraw their money according to their needs. They were also directed to maintain adequate cash supplies at every branch and ATM booth from October 15.
As part of these efforts, Sonali Bank moved to provide National Bank with a Tk 70 billion loan to meet depositors’ demands. According to relevant sources, the three-month loan facility would be backed by a Bangladesh Bank guarantee.
Amid recent liquidity pressures in the banking sector, the initiative to return National Bank depositors’ money is being viewed as a significant step. Although withdrawal applications reached approximately Tk 5 billion in four days, the bank authorities say they are prepared to repay customers according to their requirements.
