Mutual Trust Bank go for massive spending cut over coronavirus


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Mutual Trust Bank go for massive spending cut over coronavirus

Mututal Trust Bank management has launched massive spending cut spree as it leaving an entire building, relinquishing additional branch space, reducing rents, conducting online training workshops, increasing the number of staff working in the home office, conducting paperless office work, and increasing technology-based activities.

The bank pays Tk 5 crore a year for the rented building at Tejgaon. MTB’s retail department is managed from this building. Besides, it also has a training center and a branch of the bank. The process of shifting the activities conducted in the building in Tejgaon to Bangla Motor and Gulshan building is underway.

The former chairman of the Association of Bankers Bangladesh (ABB) said that one of the conditions to save the company from the economic disaster caused by Corona is to reduce expenses. “Mutual Trust Bank is walking that path. In the meantime, we have given up extra space in all branches of the country. Within this year, our 25-30 thousand square feet space will be reduced. Besides, the rent of the branches has been reduced by 15-20 percent. We are organizing online training workshops for the staff. Even if the situation is normal, this continuity will be maintained.” He added.

Three buildings in the capital are used as the head office of the Mutual Trust Bank. The bank’s top executive is sitting in a building in Gulshan. Several floors of the building are owned by the bank. Besides, a building of their own at Bangla Motor in the capital was used for some activities of the head office. A multi-storied building in the Tejgaon industrial area is also used as part of the head office.

Syed Mahbubur Rahman told Business Mirror that about 50 percent of the employees of Mutual Trust Bank are currently working from home. This number will be further increased. Employees who do not need to come to the office every day, will work from home. Although the situation is normal, we are less likely to deviate from this policy.

“A platform will be launched in October to enable bank employees to do all the work of the bank from anywhere. This software will have all the solutions of the bank. We have also taken steps to reduce the use of paper by one-third to reduce costs.,”

“ We do not want to take steps to cut staff and reduce salaries. However, we have to think about the workers who can not keep pace with the times.” Rahman added.

This will reduce the cost of MTB by 5 crore only for rent. The concerned people think that the cost of the bank for security, electricity, water and other services bills will be further reduced, the MD said.

Syed Mahbubur Rahman, managing director of Mutual Trust Bank, said, “We have abandoned the building in Tejgaon as part of cost savings.” The owner of the building has been notified. The notice will be effective from January 1, 2021. MTB is calculating the annual rent of Tk 5 crore for this building. Now in addition to the cost of rent, the cost of conducting activities in the building will also come down.



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