Jamuna Bank Limited

Jamuna Bank Limited is a commercial bank in the private sector. It was registered as Banking Company under the Companies Act, 1994 on 2 April 2001. It started its operation on 3 June with an authorised capital of taka 16 hundred million divided into 5 million general shares of Tk100 each. At the initial stage the entire 390 million taka were its authorised capital and paid by the sponsor shareholders.

The bank conducts all types of commercial banking activities including deposit taking, providing loans, foreign trade and project financing. Since its inception the Bank participated in foreign exchange business and foreign trade. In 2010, the Bank has correspondent relationships with 728 locations of 207 world reputed Banks throughout the world. To make the capital structure reasonable for the implementation of the directives concerning capital formation under BASEL-2, the appointment of a high-powered implementation committee is a remarkable job of Jamuna Bank. At this it will be possible for Jamuna Bank to ascertain the fixation of its capital at the level as specified by Bangladesh Bank. Jamuna Bank is continuing its activities on the basis of preservation of the value of assets, sufficiency of capital, appreciating qualities of assets, expert management, satisfactory income and liquidity. It started online banking services in 2005 to provide customer services swiftly and in a very minute moment. The Bank has established 82 ATM booths and introduced direct debit card, restricted credit card, Tele banking, Internet banking and SMS banking. With import and export financing, Jamuna Bank gives long and short-term loan to trade and commerce, large and medium scale and maximum loan to current assets.

Jamuna bank operates Marriage Deposit Scheme, Lakhpati Deposit Scheme, Millionaire Deposit Scheme, Kotipati Deposit Scheme, Education Savings Scheme, Monthly Benefit Scheme, Monthly Savings Scheme and Double Growth Deposit Scheme. Jamuna Bank Limited is the pioneer in this sector and termed the contribution simply as 'social responsiblity'. As a part of its social responsibility Jamuna Bank gives awards to the poor meritorious students and takes responsibility in prosecution of their studies. The other parts of its social responsibility are to take programmes for donation of blood and the treatment of eye free of cost.

Basic facts and economic indicators (in million Taka)

Indicators	2004	2005	2006	2007	2008	2009
Authorised capital	1600	1600	1600	4000	4000	4000
Paid up capital	429	429	1073	1226	1313	1622
Reserved Fund	246	488	629	647	1131	2376
Deposits	10265	14454	17285	20924	27308	42356
(a) Call Deposits	868	1765	2397	3159	3952	5642
(b) Term Deposits	9397	12689	14888	17765	23356	36714
Loans and Advance	6723	11012	12797	16617	21037	32288
Investment	1164	2038	2553	4239	5390	8503
Total Asset	16395	16864	20157	26405	31647	48731
Total income	1397	1727	2750	3103	4075	5817
Total Expenditure	1089	1307	2049	2279	3034	3903
Foreign Currency Trading	12888	18277	29304	38688	52094	70750
(a) Export	4791	6522	11584	13990	18617	21407
(b) Import	7923	11152	15458	22192	30312	46685
(c) Remittance	174	603	2262	2506	3165	2658
Total Manpower:	438	525	670	861	938	1215
(a) Officers	360	419	524	686	742	951
(b) Staff	78	106	146	175	196	264
Correspondents Banks	96	390	630	715	715	730
Total Branches (in numbers)	19	23	27	35	39	54
(a) Domestic	19	23	27	35	39	54
(b) Overseas	-	-	-			-
Agriculture Credit:
(a) Loan Disbursed	-	-	-	2152	3410	391
(b) Realised	-	-	-	1391	2243	171
Industrial Credit:
(a) Loan Disbursed	5041	3739	1942	5516	7113	21701
(b) Realsied	2574	1739	783	3308	4863	12273
Loan Outstanding by Sector
(a) Agriculture and Fisheries	9	8	169	25	114	198
(b) Industry	404	1699	2092	3194	3711	6789
(c) Trade and Commerce	3790	5866	6038	8607	9806	14025
(c) Poverty Reduction	-	-	-			18

Source  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 13-member board of directors governs the overall affairs of the bank. The chief executive of the bank is managing director. Its Head Office at Chini Shilpa Bhaban, 3 Dilkusha C/A, Dhaka-1000. [Md Ashik Iqbal]