Bank Asia Limited

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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]