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BRAC Bank Limited


BRAC Bank Limited is recognised as the premier brand in the financial industry of Bangladesh. BRAC Bank started its business in 2001 with a clear vision to work as a catalyst for the vibrant yet un banked SME sector in Bangladesh. BRAC Bank limited has wide distribution coverage across Bangladesh in SME business. Being the pioneer, BRAC Bank limited still holds the 'Number One' position in SME business. They have 59 SME Service Centers and 429 Unit Offices. The bank have 69 branches, 179 ATM booths, 30 Cash Deposit Machines, 1558 POS terminals, 19 Utility Services Bill Payment Booths and also 1900 Remittance Delivery Points. The grand total of their customer touch points is 3,814 serving a total of 878,837 customers.

Apart from commercial banking the Bank entered into the equity market. They have acquired 51% Shares of Equity Partners Securities Limited. Now these two companies are running their business under the names of BRAC EPL Investments Limited and BRAC EPL Stock Brokerage Limited respectively. The bank wants to become a financial institution where they can offer the entire gamut of financial services to their customers. This will ensure access of the people in the lower income bracket to the country's vibrant capital market and also ensure that they do so in a prudent and profitable manner.

Brac bank always thinks beyond the banking boundaries which contain an un-tapped potential. Accordingly, they formed a subsidiary company to work as a Payment System Operator (PSO) and Payment Service Provider (PSP) as per the Bangladesh Payment and Settlement System Regulations, 2009 where BRAC Bank Limited will hold 51% share and the partner Money in Motion (MIM) will hold the remaining 49% Share Money in Motion is a USA registered limited liability company, MIM is in the business of developing banking services fro the un-banked, utilising new information and communication technologies, electronic platforms, including mobile phones. The bank has also invested in another potential company named Dun and Bradstreet Rating agency Bangladesh limited. The Dun and Bradstreet Corporation is headquartered in New Jersey, USA. It is a provider of credit information on businesses and corporations. The company is best known for its D-U-N-S (Data Universal Numbering System) identifiers assigned to over 150 million global companies. Dun and Bradstreet Rating Agency Bangladesh limited is a joint venture company set up with equity participation from some of the major Banks and financial institutions of Bangladesh and Dun and Bradstreet Middle East South Asia. The proposed company aims to provide credit rating for the small and medium enterprises of the country, thereby hoping to have a positive impact on the development of SME sector

Table Basic Facts and Economic indicators (in Million Taka).

Indicators 2004 2005 2006 2007 2008 2009
Authorised Capital 1000 1000 2000 2000 4800 4800
Paid Up Capital 500 500 1000 1200 1584 2059
Reserved Fund 20 58 251 504 908 1337
Deposits 8169 13410 23002 37368 58006 75219
(a) Call Deposits 2015 3681 3617 6473 6116 12605
(b) Term Deposits 6154 9729 19385 30,895 51890 62614
Loans and Advance 5821 11791 19558 32461 52677 64151
Investment 1626 2164 4142 4997 8245 10972
Total Asset 10015 16876 30012 46383 72442 94581
Total income 1120 2030 3711 6117 10901 13337
Total Expenditure 1021 1838 3377 4172 7727 9620
Foreign Currency Trading 1457 8449 12432 25624 44453 54637
a) Export 136 277 412 5114 7502 11617
b) Import 562 3015 3890 641 983 504
c) Remittance 759 5157 8130 19869 35968 42516
Total Manpower: 945 2170 3047 4428 6061 5965
a) Officers 893 1213 1787 2578 5129 4909
b) Staff 52 957 1260 1850 932 1056
Correspondents Banks 14 17 19 21 48 21
Total Branches (in numbers) 13 18 26 36 56 69
a) Domestic 13 18 26 36 56 69
b) Overseas --- --- --- --- --- ---
Agriculture Credit:
Loan Disbursed 438 812 988 1508 2295 1882
Realised 254 377 890 1197 2768 599
Industrial Credit:
Loan Disbursed 905 6397 4163 13685 14916 10199
Realsied 488 1676 2529 4547 5791 1902
Loan Outstanding by Sector
Agriculture and Fisheries 401 472 391 1185 482 514
Industry 314 731 2650 1417 4301 3489
Trade and Commerce 2931 6041 4677 15414 34017 25942
Poverty Reduction --- --- --- --- --- ---

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 2008-09.

Bank has a dedicated team for developing the Service Quality. The team is dedicated to promote and implement service at a global standard on all levels. 'Joy of Banking' has been the initiative to make banking a joyful experience for both our guests and our personnel.

In line with their Triple-Bottom-Line approach, the Bank undertakes various CSR activities. These activities spanned from health-care to supporting the cultural heritage of the country to supporting education-growth. As a bank committed to sustainable business, BRAC Bank has become a prestigious member of the Global Alliance for Banking on Values (GABV)-the only bank from South-Asia to be part of this international coalition. Global Alliance for banking on Values promotes 'ethical banking'. It is part of a larger societal movement toward more social and environmental responsibility in the financial sector. This movement includes ethical investment, socially responsible investment, corporate social responsibility, and is also related to such movements as the fair trade movement, ethical consumerism, boycotting, etc. Ethical banks share a common set of principles, the most prominent being transparency and social and/or environmental aim of the projects they finance. Every small step will make this world greener by at least on more leaf. In recognition of outstanding contribution in the banking sector of Bangladesh, last year BRAC Bank Limited received the prestigious 9th DHL-Daily Star Best Business Award in the 'Best Financial Institution' category. They have also received 'Certificate of Merit' from the Institute of Chartered Accountants of Bangladesh for the 9th ICAB National Awards for best Published Accounts and Reports 2008. [Muhammad Abdul Mazid]