Agrani Bank PLC on Monday launched an initiative styled "75-day Loan Recovery Programme" aimed at reducing classified loans and ensuring prompt loan recovery.

The initiative started on October 16 and will run until December 29, 2023, said a press release.

Md Murshedul Kabir, managing director and CEO of the bank, made an announcement about this special initiative at the bank's 898th virtual board meeting, chaired by Zaid Bakht, chairman of the bank.

The meeting directed all circles, corporate branches, zonal offices and branches to be vigilant so that no new loans are classified.

By regularising the collection of classified loans and recovering unclassified loans, the bank also wants to achieve the desired target of reducing classified loans.

Apart from addressing loan classification issues, the initiative aims to promote all banking activities, including deposit collection, loan distribution and remittance collection in order to increase income and reduce expenses in 2023 with the expectation of achieving its projected operating profit.

Directors and top management of the bank along with a representative from the Bangladesh Bank virtually joined the programme.