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Prime Bank Limited


Prime Bank Limited a private sector commercial bank incorporated in Bangladesh under the companies act 1994 and commencement of business started on 17th April 1995 with an authorised capital of Tk 1,000 million divided into 10 million ordinary shares of Tk 100 each. The bank is registered with the securities and exchange commission and its shares are traded at the Dhaka and Chittagong Stock Exchanges.

The management of the bank is vested in a 12-member board of directors with the managing director as the chief executive. The registered head office of the bank is at Dhaka. Prime Bank offers all kinds of commercial, corporate and personal banking services covering all segments of society within the framework of Banking Company Act and rules and regulations laid down by the central bank. Diversification of products and services include Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture, and real state to software. It provides islami banking through seventy branches. PBL has introduced One Stop Utility Services Scheme which is designed to provide all the required services to the customer in making payment of their utility bills on their behalf from the counter of the Bank.

Basic facts and economic indicators (in million Taka)
Indicators 2004 2005 2006 2007 2008 2009
Authorised capital 1000 4000 4000 4000 10000 10000
Paid up capital 1000 1400 1750 2275 2844 3555
Reserved Fund 987 1056 1404 1874 3,853 8190
Deposits 28069 36022 54724 70512 88021 106956
(a) Call Deposits 5697 10107 13320 17762 19227 35431
(b) Term Deposits 22372 25915 41404 52750 68794 71525
Loans and Advance 23220 35132 45011 57684 75156 89252
Investment 3083 3940 7888 12698 23103 19934
Total Asset 32362 41506 60899 79588 110437 124806
Total income 4840 6542 6934 4816 5778 8196
Total Expenditure 3475 4880 4808 1559 1931 2907
Foreign Currency Trading 59326 72873 109490 137838 182643 198996
a) Export 19502 28882 41801 51316 68550 76097
b) Import 36747 40303 52639 70617 91424 96452
c) Remittance 3077 3688 15050 15905 22669 26447
Total Manpower 894 1024 1172 1400 1551 1844
a) Officers 872 1002 1150 1379 1523 1816
b) Staff 22 22 22 21 28 28
Correspondents Banks 501 517 528 553 518 602
Total Branches (in numbers) 36 41 50 61 70 84
a) Domestic 36 41 50 61 70 84
b) Overseas --- --- --- --- --- ---
Agriculture Credit --- --- --- --- --- ---
Loan Disbursed 2026 3237 3787 1603 2054 2362
Realised 1111 3019 3532 2007 2232 2244
Industrial Credit 34127
Loan Disbursed 14017 17521 23653 25543 32751 25757
Realsied 15342 19141 25840 26681 31609
Loan Outstanding by Sector
a) Agriculture and Fisheries 2635 1352 244 272 346 431
b) Industry 4788 6042 9614 9546 10644 13794
c) Trade and Commerce 7995 10445 13993 16417 18624 25970
d) Poverty Reduction --- --- --- 570 539 438

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 2008-09.

The bank has consistently turned over good returns on Assets and Capital. Prime Bank Ltd, since it's beginning has attached more importance in technology integration. In order to retain competitive edge, investment in technology is always a top agenda and under constant focus. Keeping the network within a reasonable limit, bank's strategy is to serve the customers through capacity building across multi delivery channels. The Bank has set up a Wide Area Network (WAN) across the country to provide Online branch banking facility to its valued clients. PBL is one of the first few Bangladeshi Banks who have become member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) in 1999 and opened up possibilities for uninterrupted connectivity with over 5,700 user institutions in 150 countries around the world.

Prime Bank obtained Principal Membership of Master-Card International in the month of May 1999 and launched Master Card-Credit Card which created a new dimension in its customer service and consumer financing. The special feature of the Prime Bank Master Card is that its bears the card holder's photo on the card, which is the first of its kind in Bangladesh and adds security against misuse. Prime Bank issues few types of cards like Gold Local & International and Silver Local & International. Local cards can be used in Bangladesh only.

Prime Bank established its fully-owned subsidiary 'Prime Exchange Co Pvt Ltd' to offer remittance services to Bangladeshi nationals in Singapore, which started its operation from 8th July, 2006, under remittance license received from Monetary Authority of Singapore (MAS) and approval of Bangladesh Bank. The Exchange Company is located at Serangoon area near Mustafa Centre, where Bangladeshi nationals congregate during weekends for social interaction and money remittance services. [Muhammad Abdul Mazid]