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]