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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)
Indicators 2004 2005 2006 2007 2008 2009
Authorised capital 750 2500 2500 2500 2500 5000
Paid up capital 608 975 1352 1758 2285 2285
Reserved Fund 622 682 1065 1995 2864 4371
Deposits 16069 21478 28147 34902 46905 53900
(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
Investment 4385 3010 3552 6267 6527 9672
Total Asset 29104 26114 32615 42523 57366 65937
Total income 2283 2932 3913 5269 7418 9333
Total Expenditure 1563 1914 2645 3489 5054 6195
Foreign Currency Trading 20991 26564 30061 45801 63417 58374
a) Export 5772 7776 8557 9571 12522 11904
b) Import 13274 16296 17647 28779 38797 33078
c) Remittance 1945 2492 3857 7441 12098 13392
Total Manpower: 925 1000 1118 1230 1400 1496
a) Officers 701 741 847 956 1118 1214
b) Staff 224 259 271 274 282 282
Correspondents Banks 300 328 335 398 440 411
Total Branches (in numbers) 36 41 48 53 57 65
a) Domestic 36 41 48 53 57 65
b) Overseas - - - - - -
Agriculture Credit:
Loan Disbursed 535 361 325 448 609 721
Realised 106 577 169 198 217 249
Industrial Credit:
Loan Disbursed 7147 5799 8624 11182 19742 33214
Realsied 2762 6830 5677 7500 10776 13110
Loan Outstanding by Sector
Agriculture and Fisheries 691 420 289 290 313 633
Industry 2418 3818 3872 5719 7573 10854
Trade and Commerce 6608 7986 9155 11592 17275 17815
Poverty Reduction - - - - 253 181

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]