Premier Bank Limited
Premier Bank Limited a private sector Commercial Bank, is incorporated in Bangladesh as banking company on June 10, 1999 under Companies Act 1994. Bangladesh Bank, the central bank of Bangladesh, issued banking license on June 17, 1999 under Banking Companies Act 1991. The Head Office of The Premier Bank Limited is located at Banani. Of the 14 promoter shareholder, one is among them is a Newzealandian. The management is vested with a 15-member board of directors including the Managing Director and CEO who is responsible for executive functions. The Managing Director is assisted by 3 deputy-managing directors and 50 senior executives.
Basic facts and economic indicators (in million Taka).
|Paid up capital||558||558||845||1690||1690||2242|
|a) Call Deposits||2375||3716||3119||3485||3870||12516|
|b) Term Deposits||15630||16574||21080||23629||28189||24866|
|Loans and Advance||15384||18032||20678||23,638||30319||33665|
|Foreign Currency Trading||35517||35277||39738||44842||62332||58693|
|Total Branches (in numbers)||21||21||26||27||30||38|
|a) Loan Disbursed||12||3||67||3||36||41|
|a) Loan Disbursed||7534||6559||7154||6432||8877||10618|
|Loan Outstanding by Sector|
|a) Agriculture and Fisheries||818||624||730||672||543||603|
|c) Trade and Commerce||7804||5886||6280||7735||11288||12533|
|d) Poverty Reduction||-||-||-||-||169||188|
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.
Apart from conventional banking services the Premier bank has introduced few specialised services and products which are unique in the banking and financial market of Bangladesh. 'Evening Banking', a unique service of The Premier Bank, only for receiving Cash and Documents beyond transaction hours till 8 o'clock in the evening, is available at Premier Bank. The service is attractive for those, like shopkeepers, who accumulate cash as sales proceeds in the afternoon when counters of Bank branches usually remain closed. The Online Branch Banking Service is designed to serve its valued clients, under which a customer can withdraw cash from his account at any branch of the Bank and deposit in his account at any Branch of the Bank. The Bank launched Premier SMS (SMS Banking Service) on 30 January 2006. SMS (Short Message Service) Banking is one of the modern banking features. This is the most convenient, low-cost and quickest way for banking. Any customer can be informed about banking transactions and inquiries through the SMS Banking service. The customer can check his balance, stop a cheque payment, or even get his statements. The SMS Banking service provides with real time account information management by using mobile phones and instruction capabilities from the mobile phones at a true 'anywhere, anytime, anyhow' convenience. The service is available round the clock seven days a week. The bank has set up Wide Area Network using Radio, Fiber-Optics and other available communication systems to provide any branch banking to the customers. All premier bank Branches are included in their Wide Area Network. In order to serve those Customers who neither Receive or Pay Interest, the bank have decided to open separate branches based on Shariah Principles. The activities and book keeping is to keep separate from the Conventional Branch Operations. Islamic Banking service is now available at Mohakhali Branch and Sylhet Branch. These two branches are run under Islamic Shariah Principles. The International Division of Premier bank looks after Correspondent Banking Relationships, Treasury Back Office and International Trade Settlement. In order to smooth global operation of international business we have correspondent banking relationship with 430 foreign banks around the globe and maintain 19 Nostro accounts in 9 currencies to service our customers. [Muhammad Abdul Mazid]