National Credit and Commerce Bank Limited
National Credit and Commerce Bank Limited (NCCBL) started its journey in the financial sector of the country as an investment company back in 1985. The aim of the company was to mobilise resources from within and invest them in such way so as to develop country's Industrial and Trade Sector and playing a catalyst role in the formation of capital market as well. The company operated upto 1992 with 16 branches and thereafter with the permission of the Central Bank converted into a full fledged private commercial Bank in 1993 with paid up capital of Tk 390 million crore to serve the nation from a broader platform.
|Basic facts and economic indicators (in million Taka)|
|Paid up capital||608||975||1352||1758||2285||2285|
|(a) Call Deposits||2883||3615||4232||5327||5909||6590|
|(b) Term Deposits||13186||17836||23915||29575||40996||47310|
|Loans and Advance||15211||20533||24678||32687||46332||50388|
|Foreign Currency Trading||20991||26564||30061||45801||63417||58374|
|Total Branches (in numbers)||36||41||48||53||57||65|
|Loan Outstanding by Sector|
|Agriculture and Fisheries||691||420||289||290||313||633|
|Trade and Commerce||6608||7986||9155||11592||17275||17815|
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.
Since its inception NCC Bank Ltd acquired commendable reputation by providing sincere personalised service to its customers in a technology based environment. The Bank had set up a new standard in financing in the Industrial, Trade and Foreign exchange business. Its various deposit and credit products have also attracted the clients-both corporate and individuals who feel comfort in doing business with the Bank. While its commencement as a commercial bank in 1993 with an authorised capital of Tk 750 million divided into 7.5 million ordinary shares of Tk 100 each and paid up capital of Tk 195 million. On 31 December 2010, the authorised capital and the paid up capital rose to 10,000 million and 4,501.25 million taka respectively. NCCBL is the restructured form of the first investment company in the country, the National Credit Limited (NCL), which started business with a paid up capital of Tk 50 million and survived 8 years before its normal operations were suspended. In the mid of 1980s, the National Credit Limited' (NCL) was established as one of two private investment companies in the country. The bank conducts traditional commercial banking functions as well as foreign exchange business and provision of other financial services. At present, the bank's main focus is on the delivery of personalised customer services and expansion of its clientele base. The lending policy of the bank follows guidelines of the bangladesh bank. In addition to traditional financing of industrial and commercial activities, the bank introduced Consumer Credit Scheme for rapid growth of customer base, which targets at the fixed income group of population. It also introduced lease financing and extended project financing and industrial loans in syndication with other banks.
The mission of the NCC bank is to mobilise financial resources from within and abroad to contribute to Agricultures, Industry and Socio-economic development of the country and to pay a catalytic role in the formation of capital market and to become the Bank of choice in serving the nation as a progressive and socially responsible financial institution by bringing credit and commerce together for profit and sustainable growth.
A 23-member board of directors, including the chairman and a vice-chairman oversees the affairs of the bank. The managing director is its chief executive. He is responsible for his work to the Board of Directors. In 2009, the bank had 65 branches and 1496 employees. The registered head office of the bank is at Dhaka. The bank established correspondent relationships with 411 foreign banks at different international financial centres. The NCC bank became a member of SWIFT (Society for Worldwide Financial Telecommunications). It commenced the operations of Money Gram, a worldwide renowned quickest mode of transfer of fund from one country to another, in November 1998. [Muhammad Abdul Mazid]