Rajshahi Krishi Unnayan Bank

About RAKUB

Rajshahi Krishi Unnayan Bank is a state-owned bank in Bangladesh with regional approach. The bank emerged as the government's plan of intensive care to agriculture of Rajshahi and Rangpur Division  providing livelihood to 33 million people of the area. The region is less developed compared to other parts, yet full of potentials in agriculture. The two Divisions characterized by its surplus food grain production is popularly called the "granary of the country". Besides catering to agricultural credit, RAKUB, as it is acronymed, renders deposit banking services through all the 367 branches. The headquarters of the bank is stationed at Rajshahi city, some 270 kilometer to the north of Dhaka. 

RAKUB Activities

Functions:

As the largest development partner in the northwest region RAKUB aims at overall development of farmers and all the sectors and sub-sectors of agriculture in this region. The bank also performs functions like financing agri-business and agro-based industries and poverty alleviation programs.

Capital:

Authorized capital of the bank amounts to Tk 7500 million. Paid-up capital amounts to Tk 5700 million and reserve Tk 208.50 million.

We extend credit facilities for

Crop production, Livestock & Poultry, Farm machinery, Fishery, Agro-industries and agri-business, Continuous credit, Poverty Alleviation, SME and more. 

Establishment

Rajshahi Krishi Unnayan Bank (RAKUB) was established by the President's Ordinance No. 58 of 1986 with the aim of providing institutional agricultural credit for optimum utilization of agricultural potentials of Rajshahi Division(Rajshahi & Rangpur). Taking over the branches and offices along with assets and liabilities of the Bangladesh Krishi Bank within Rajshahi division, the bank started functioning on 15 March 1987.

Functions

As the largest development partner in the northwest region Rajshahi Krishi Unnayan Bank aims at overall development of farmers and all the sectors and sub-sectors of agriculture in this region. Besides, catering to agricultural credit the bank performs ancillary functions as financing agri-business and agro-based industries and poverty alleviation programs.

Capital

Authorized capital of the bank amounts to Tk 7500 million. At present Paid-up capital amounts to Tk 5700 million and reserve Tk 208.50 million.

Management

The Board is vested with the responsibility of formulation of policy in line with attainment of growth in agriculture and economic development of the region through agricultural credit support. The Board of Directors is constituted by seven members, all appointed by the government. Besides, for emergency decisions there is an executive committee constituted of the Chairman of the Board and two other members: the Managing Director and one of the Directors elected by the Board. The Managing Director is the chief executive of the bank. 

Organizational Structure

The head office is stationed at divisional headquarters city of Rajshahi . The branches network of the bank comprises 367 branches including one in Dhaka. Eighteen zonal offices stationed in district headquarters control branches under them. The General Manager's office at Rangpur oversees activities of 9 zones of greater Rangpur, Dinajpur districts. There are 18 independent regional audit offices for conducting regular audit in branches and zonal offices. The only training institute of the bank is situated at Rajshahi. There are 3,387 employees (2010) of the bank of which 1,516 are officers and 1,871other staff.

Source: RAKUB Website