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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]