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).
|Paid Up Capital||744||930||1116||1395||1744||2888|
|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|
|Foreign Currency Trading||28720||45761||56858||71220||87788||30926|
|Total Branches (in numbers)||17||19||24||29||33||41|
|Loan Outstanding by Sector|
|Agriculture and Fisheries||858||1||-||11||206||118|
|Trade and Commerce||3931||6911||9537||12728||16609||21754|
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]