Bank Asia Limited

Bank Asia Limited is a scheduled commercial bank in the private sector established under the Banking Company Act 1991 and incorporated in Bangladesh as a public limited company under the Companies Act of 1994 to carry out banking business in Bangladesh Bank.

The general administration and management of the bank are vested in a 13-member board of directors consisting of a chairman and 12 directors, including the managing director as the chief executive. On 31 December 2008, the bank had 33 urban branches and a total of 802 employees. The 7 functional divisions at the bank's corporate head office in Dhaka are credit, central accounts, human resources, establishment, branch expansion and development, international, and public relations departments.

Table   Basic Facts and Economic Indicators (In Million Taka).

Indicators	2004	2005	2006	2007	2008	2009
Authorized Capital	1200	1200	4450	4450	4450	2145
Paid Up Capital	744	930	1116	1395	1744	2888
Reserved Fund	371	544	834	1214	1589	54833
Deposits	13471	18500	25289	30004	42435	6543
a) Call Deposits	3106	3456	4837	2195	8435	48290
b) Term Deposits	10365	15044	20452	27809	34000	50268
Loans and Advance	11861	17870	22233	28458	39975	9663
Investment	3241	2256	3345	4211	6134	68665
Total Asset	17811	23380	30478	38436	53371	8628
Total Income	1868	2525	3774	4959	6631	6010
Total Expenditure	1209	1724	2702	3384	4727	113830
Foreign Currency Trading	28720	45761	56858	71220	87788	30926
a) Export	7104	13964	17480	20417	25155	67349
b) Import	18942	26352	31626	39219	50985	15555
c) Remittance	2674	5445	7752	11584	11648	1015
Total Manpower:	331	397	515	639	802	999
a) Officers	313	380	498	622	785	16
b) Staff	18	17	17	17	17	625
Correspondents Banks	293	310	315	355	500	41
Total Branches (in numbers)	17	19	24	29	33	41
a) Domestic	17	19	24	29	33	-
b) Overseas	-	-	-			-
Agriculture Credit:
Loan Disbursed	116	-	-	16	214	121
Realised	35	-	-	7	19	209
Industrial Credit:
Loan Disbursed	18159	7275	2040	18959	36957	34463
Realsied	15433	5738	1792	15940	30740	30186
Loan Outstanding by Sector
Agriculture and Fisheries	858	1	-	11	206	118
Industry	1158	2886	3134	4107	4302	5791
Trade and Commerce	3931	6911	9537	12728	16609	21754
Poverty Reduction	3	69	84	324	392	195

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

It set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. It again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank. In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market's history and its shares commands respectable premium.

The asset and liability growth has been remarkable. Bank Asia has been actively participating in the local money market as well as foreign currency market without exposing the Bank to vulnerable positions. The Bank's investment in Treasury Bills and other securities went up noticeably opening up opportunities for enhancing income in the context of a regime of gradual interest rate decline. Bank Asia Limited started its service with a vision to serve people with modern and innovative banking products and services at affordable charge. Being parallel to the cutting edge technology the Bank is offering online banking with added delivery channels like ATM, Tele-banking, SMS and Net Banking. And as part of the bank's commitment to provide all modern and value added banking service in keeping with the very best standard in a globalise world. [Muhammad Abdul Mazid]