National Bank’s success in loan recovery

An Agreement Signed Between AkijBashir Group and Eminence Electric Wires and Cables Ltd. under the Initiative of National Bank PLC.

Recently, under the initiative of National Bank PLC, an agreement was signed between AkijBashir Group and Eminence Electric Wires & Cables Limited.

As part of the agreement, AkijBashir Group will purchase the mortgaged machinery and land of National Bank PLC’s client, Eminence Electric Wires & Cables Limited, read a press release.

Through this acquisition, the bank’s outstanding loan will be reduced within the next two months. This transaction is expected to play a significant role in National Bank’s loan and cash management and will contribute positively to the bank’s overall operations.

The agreement signing ceremony was attended by Mr. Areef Billah Adil Chowdhury, Managing Director of National Bank PLC, and Mr. Syed Rois Uddin, Deputy Managing Director. Representing AkijBashir Group was Mr. Taslim Md. Khan, Managing Director, along with senior officials from both organisations, read the release.

Also present at the ceremony were Ms. Humaira Azam, Managing Director of LankaBangla Finance PLC; Mr. Hasan Tanvir, Deputy Managing Director of Rupali Bank PLC; and Ms. Maksuda Khanam, Deputy Managing Director of EXIM Bank PLC.

It is noteworthy that this was a syndicated loan. National Bank PLC acted as the security agent and co-lead bank. Other members of the syndication included Rupali Bank PLC, EXIM Bank PLC, and LankaBangla Finance PLC.