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Letter To the Editor

Unethical competition in banking sector

Published : Friday, 13 December, 2019 at 12:00 AM  Count : 96

Dear Sir

Scheduled private banks earn a hefty amount of operating profit in each year. So far 61 schedule commercial banks including 4 state-owns are operating in country. Every year a good number of branches are expanding for operation as mushrooms across the country without its actual necessity. Most of the branches are opening in the commercial hub to make huge profit ignoring the rural or remote area's necessity as a whole and without any proper marketing assessment and study for long run business. Last generation newly opened branches are running with serious unhealthy and unethical competition.

In most of the cases, they are purchasing other reputed banks' loans, some cases along with defaulter clients' loan, by offering many fold but avoiding the standard norms and practices of the banking rules. These banks are also offering skyrocketed deposit rate that is basically very risky for banking environment and the country in the long run. Maximum banks' service charge is seriously unethical and out of clients' range & capacity and without any proper justification. Bangladesh Bank should helm the unethical practice, otherwise our banking sector will fall in the trap of collapse in future.

Md Zillur Rahaman
Gandaria, Dhaka

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