National Credit and Commerce Bank Limited

National Credit and Commerce Bank Limited (NCCBL) started its journey in the financial sector of the country as an investment company back in 1985. The aim of the company was to mobilise resources from within and invest them in such way so as to develop country's Industrial and Trade Sector and playing a catalyst role in the formation of capital market as well. The company operated upto 1992 with 16 branches and thereafter with the permission of the Central Bank converted into a full fledged private commercial Bank in 1993 with paid up capital of Tk 390 million crore to serve the nation from a broader platform.

Basic facts and economic indicators (in million Taka)
Indicators	2004	2005	2006	2007	2008	2009
Authorised capital	750	2500	2500	2500	2500	5000
Paid up capital	608	975	1352	1758	2285	2285
Reserved Fund	622	682	1065	1995	2864	4371
Deposits	16069	21478	28147	34902	46905	53900
(a) Call Deposits	2883	3615	4232	5327	5909	6590
(b) Term Deposits	13186	17836	23915	29575	40996	47310
Loans and Advance	15211	20533	24678	32687	46332	50388
Investment	4385	3010	3552	6267	6527	9672
Total Asset	29104	26114	32615	42523	57366	65937
Total income	2283	2932	3913	5269	7418	9333
Total Expenditure	1563	1914	2645	3489	5054	6195
Foreign Currency Trading	20991	26564	30061	45801	63417	58374
a) Export	5772	7776	8557	9571	12522	11904
b) Import	13274	16296	17647	28779	38797	33078
c) Remittance	1945	2492	3857	7441	12098	13392
Total Manpower:	925	1000	1118	1230	1400	1496
a) Officers	701	741	847	956	1118	1214
b) Staff	224	259	271	274	282	282
Correspondents Banks	300	328	335	398	440	411
Total Branches (in numbers)	36	41	48	53	57	65
a) Domestic	36	41	48	53	57	65
b) Overseas	-	-	-	-	-	-
Agriculture Credit:
Loan Disbursed	535	361	325	448	609	721
Realised	106	577	169	198	217	249
Industrial Credit:
Loan Disbursed	7147	5799	8624	11182	19742	33214
Realsied	2762	6830	5677	7500	10776	13110
Loan Outstanding by Sector
Agriculture and Fisheries	691	420	289	290	313	633
Industry	2418	3818	3872	5719	7573	10854
Trade and Commerce	6608	7986	9155	11592	17275	17815
Poverty Reduction	-	-	-	-	253	181

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.

Since its inception NCC Bank Ltd acquired commendable reputation by providing sincere personalised service to its customers in a technology based environment. The Bank had set up a new standard in financing in the Industrial, Trade and Foreign exchange business. Its various deposit and credit products have also attracted the clients-both corporate and individuals who feel comfort in doing business with the Bank. While its commencement as a commercial bank in 1993 with an authorised capital of Tk 750 million divided into 7.5 million ordinary shares of Tk 100 each and paid up capital of Tk 195 million. On 31 December 2010, the authorised capital and the paid up capital rose to 10,000 million and 4,501.25 million taka respectively. NCCBL is the restructured form of the first investment company in the country, the National Credit Limited (NCL), which started business with a paid up capital of Tk 50 million and survived 8 years before its normal operations were suspended. In the mid of 1980s, the National Credit Limited' (NCL) was established as one of two private investment companies in the country. The bank conducts traditional commercial banking functions as well as foreign exchange business and provision of other financial services. At present, the bank's main focus is on the delivery of personalised customer services and expansion of its clientele base. The lending policy of the bank follows guidelines of the bangladesh bank. In addition to traditional financing of industrial and commercial activities, the bank introduced Consumer Credit Scheme for rapid growth of customer base, which targets at the fixed income group of population. It also introduced lease financing and extended project financing and industrial loans in syndication with other banks.

The mission of the NCC bank is to mobilise financial resources from within and abroad to contribute to Agricultures, Industry and Socio-economic development of the country and to pay a catalytic role in the formation of capital market and to become the Bank of choice in serving the nation as a progressive and socially responsible financial institution by bringing credit and commerce together for profit and sustainable growth.

A 23-member board of directors, including the chairman and a vice-chairman oversees the affairs of the bank. The managing director is its chief executive. He is responsible for his work to the Board of Directors. In 2009, the bank had 65 branches and 1496 employees. The registered head office of the bank is at Dhaka. The bank established correspondent relationships with 411 foreign banks at different international financial centres. The NCC bank became a member of SWIFT (Society for Worldwide Financial Telecommunications). It commenced the operations of Money Gram, a worldwide renowned quickest mode of transfer of fund from one country to another, in November 1998. [Muhammad Abdul Mazid]