Staff Correspondent

Padma Bank's stall number 207 (Hall-D) was inaugurated at the 10th National SME Fair, which began at the Bangabandhu International Conference Center (BICC) in the capital's Shere Bangla Nagar in the city recently.

Tarek Reaz Khan, Managing Director and CEO of Padma Bank, inaugurated the stall. In the ceremony he said that without the development of the SME sector, the overall development of a country is impossible. The SME sector contributes 25% of our country's GDP.

Furthermore, this sector accounts for two-third of all job opportunities in the country's private sector. Therefore, Padma Bank is committed to delivering banking services to customers for the development of the SME sector. He also said that it is possible to deliver banking services to the grass-roots level through SME product services.

The ceremony was also attended by Deputy Managing Director Zabed Amin, Chief Human Resource Officer & CCO M Ahsan Ullah Khan, Syed Towhid Hossain, EVP & Head of Operation Rokibul Hasan Chowdhury, Head of Retail and SME Banking, and VP and Head of SME Business Asaduzzaman Khan.

Padma Bank Limited has participated in the SME fair to increase its foothold in financial inclusion program and to give small and medium entrepreneurs a proper idea about the loan products and services.

Padma Bank Limited has modernized SME banking services in a completely new and comprehensive way. It has a number of products and services for different segment.

Padma Udyog Loan: Under the slogan, Change the Fortune of the Business-- Padma Udyog has made loan facilities available to SME customers on simple terms. There are loan facilities from taka 5 lac to a maximum of 3 crore for the purchase of additional working capital and fixed assets for the expansion of the customer's business. This loan facility is available across the country. 70 to 100 percent of the business expansion expenses can be financed by this loan.

Padma Sahaj Loan: Sahaj Loan will be very simple—a loan facility of up to 400% on the customer's deposit. Padma Easy Loans of taka 5 to 20 lac can also be obtained for a term of one to three years through simple and quick loan processing.

Padma Nirman Loan: Shwapner Bari Nije Gori under this banner, SME customers will be able to obtain a loan for the construction of a ready or semi-pucca ghar for commercial use. Loan facility is up to 70% of construction costs.

Padma Goti Loan: Apart from auto loan facilities for official use by SME customers, this loan facility is available for the purchase of pickup vans for carrying goods and machinery for business expansion. This product will be eligible for a loan ranging from TK 5 lac to TK 2 crore taka.

Padma Commercial Space Loan: This loan facility is available for the purchase or construction of commercial space in commercial areas. A loan of up to 70% of the purchase price or construction cost is available.

The fourth generation Padma Bank Limited, which is under the sole ownership of Sonali, Janata, Agrani, Rupali Bank, and ICB (Investment Corporation of Bangladesh), has been providing banking services to customers through 59 branches, 3 sub-branches, and 7 agent banking outlets.