Arab Bangladesh Bank Limited

Arab Bangladesh Bank Limited the first joint venture private sector bank. It was incorporated in Bangladesh on 31 December 1981 and started its operation with effect from 12 April 1982 with 200 million and 85 million Tk. as authorised and paid up capital respectively. The bank renamed itself as AB Bank Limited and Bangladesh Bank approved it on 14 November 2007. On 31 December 2009 its authorized and paid-up capital and reserve fund stood at Tk. 6000 million, Tk. 2564 million and Tk. 3983 million respectively. In December 2009 the bank had 78 branches and a total of 1952 employees including 1751 officers. The Bank has correspondent relationship with over 450 international banks across 58 countries of the world.

Basic facts and Economic Indicators (In Million Taka).

Indicators	2004	2005	2006	2007	2008	2009
Authorised Capital	800	800	2000	2000	3000	6000
Paid up Capital	495	520	572	743	2230	2564
Reserved Fund	569	826	1456	2073	2703	3983
Deposits	27965	27361	42077	53375	68560	83087
a) Call Deposits	5811	5415	6336	8143	8763	11483
b) Term Deposits	22154	21946	35711	45232	59797	71604
Loans and Advance	10832	21385	31289	40915	56709	70880
Investment	6628	4061	6301	8885	11409	16369
Total Asset	32674	33065	47964	63550	84054	106902
Total Income	2884	3149	5030	8487	11485	14187
Total Expenditure	2328	2394	3503	5162	7187	8510
Foreign Currency Trading	34374	43360	69686	79840	110255	109213
a) Export	10100	12595	17876	20677	28940	30640
b) Import	19267	23151	42860	48441	70040	65960
c) Remittance	5007	7614	8950	10722	11275	12613
Total Manpower	1726	1525	1590	1725	1804	1952
a) Officers	1381	1318	1382	1520	1602	1751
b) Staff	344	207	208	205	202	201
Correspondent Banks	342	321	328	334	370	450
Total Branches (in numbers)	70	67	68	71	72	78
a) Domestic	69	66	67	70	71	77
b) Overseas	1	1	1	1	1	1
Agriculture Credit
a) Loan Disbursed	679	513	765	2225	658	1210
b) Realised	791	318	153	1007	722	575
Industrial Credit
a) Loan Disbursed	18973	11908	18169	25248	29257	29568
b) Realsied	18881	9988	12846	14393	19771	19544
Loan Outstanding by Secto
a) Agriculture and Fisheries	436	160	351	851	802	1067
b) Industry	1118	950	2221	4912	7916	11568
c) Trade and Commerce	9124	8249	12732	20291	23965	27566
d) Poverty Reduction	115	185	177	876	817	1237

Sources Government of Bangladesh, Ministry of Finance, Banking and Financial Institution Division, Bank o Arthik Prothisthan Samuher Karjaboli Annual Report on Banks and Financial Institutions, 2004-05 to 2009-10.

A 14-member board of directors including the chairman and a vice chairman governs the overall affairs of the bank. The chief executive of the bank is its managing director and president who is assisted by two additional managing directors and two deputy managing directors. The bank is listed with both Dhaka and chittagong stock exchange.

AB Bank Limited has opened one foreign branch in Mumbai and also established a wholly owned Subsidiary Finance Company in Hong Kong in the name of AB International Finance Limited.

AB Bank Limited operates small and medium enterprise (SME) credit, women's entrepreneurship, consumer loans, debit and credit cards (local and international), ATMs, Internet and SMS banking, remittance, deposit mobilisation, servicing import and export, investment, treasury products and services, corporate finance, Islamic banking, specialized products and services for NRBs, priority banking, and customer care.

The Credit Rating Agency of Bangladesh Limited (CRAB) awarded the bank an A1 rating in the long term and ST-2 rating in the short Term in 2008.

AB Bank Limited launched the new logo on the 25th anniversary of its birth. It represents our sheetal pati as it reflects the bonding with the bank's clientele and fulfilling their every need. [Muhammad Abdul Mazid]