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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).

Indicators 2004 2005 2006 2007 2008 2009
Authorised capital 2000 2000 2000 2000 2000 6000
Paid up capital 558 558 845 1690 1690 2242
Reserved Fund 301 403 544 650 870 1582
Deposits 18005 20290 24199 27114 32059 37382
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
Investment 2750 2243 2394 3461 4107 6513
Total Asset 20100 22768 27170 32573 60290 47343
Total income 2395 2864 3622 4186 5070 5763
Total Expenditure 1465 1965 2680 3183 3797 4371
Foreign Currency Trading 35517 35277 39738 44842 62332 58693
a) Export 13516 13116 16941 16725 20804 20411
b) Import 20593 20734 21857 26497 38742 36059
c) Remittance 1408 1427 940 1620 2786 2223
Total Manpower 554 605 677 731 834 893
a) Officers 484 528 604 647 728 790
b) Staff 70 77 73 84 106 103
Correspondents Banks 297 345 350 397 361 439
Total Branches (in numbers) 21 21 26 27 30 38
a) Domestic 21 21 26 27 30 38
b) Overseas - - - -
Agriculture Credit
a) Loan Disbursed 12 3 67 3 36 41
b) Realised 4 - - - 9 12
Industrial Credit
a) Loan Disbursed 7534 6559 7154 6432 8877 10618
b) Realsied 6354 3577 6410 5443 6506 7203
Loan Outstanding by Sector
a) Agriculture and Fisheries 818 624 730 672 543 603
b) Industry 2336 2118 2452 3238 6073 6743
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]