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Rupali Bank Limited


Rupali Bank Limited established under the Bangladesh Banks Nationalisation Order 1972 by taking over the assets and liabilities of the Muslim Commercial Bank, Australasia Bank and Standard Bank that were functioning in East Pakistan. The bank started operations in March 1972 with an authorised capital of Tk 50 million and paid up capital of Tk 10 million. The paid up capital was raised to Tk 20 million in 1973. In view of the increased volume of banking activities and business, its authorised and paid up capital were further increased to Tk 7 billion and Tk 1.25 billion respectively.

Table Basic facts and economic indicators (in million Taka).

Indicators 2004 2005 2006 2007 2008 2009
Authorised capital 7000 7000 7000 7000 7000 7000
Paid up capital 1250 1250 1250 1250 1250 1250
Reserved Fund 671 913 994 1066 3150 3444
Deposits 63674 66871 67832 72809 71394 72985
(a) Call Deposits 17298 10868 12014 14882 14456 22277
(b) Term Deposits 46376 56003 55818 57927 56938 50708
Loans and Advance 45345 44921 45710 47080 49030 52344
Investment 13203 12903 12068 14091 12546 14303
Total Asset 71580 75120 76241 81923 82312 87574
Total income 4372 4759 4838 10732 5850 7242
Total Expenditure 3859 3948 4583 10369 4705 5143
Foreign Currency Trading 42564 41413 39849 45151 49517 55033
a) Export 6800 6118 6959 6399 7284 7527
b) Import 24424 21654 14840 19857 20590 25194
c) Remittance 11340 13641 18050 18895 21643 22312
Total Manpower: 5225 5008 4753 4430 4269 4529
a) Officers 3346 3204 3006 2749 2830 3148
b) Staff 1879 1804 1747 1681 1439 1381
Correspondents Banks 172 177 180 162 162 162
Total Branches (in numbers) 493 492 492 492 492 492
a) Domestic 492 492 492 492 492 492
b) Overseas 1 1 - - - -
Agriculture Credit:
Loan Disbursed 176 256 186 195 499 606
Realised 95 166 187 213 209 361
Industrial Credit:
Loan Disbursed 3613 2794 582 5761 8083 12328
Realsied 1812 2195 2879 939 1949 2776
Loan Outstanding by Sector
Agriculture and Fisheries 149 156 152 148 151 173
Industry 13233 9422 9916 10328 10592 11325
Trade and Commerce 14793 18969 18723 19106 20429 20740
Poverty Reduction 145 248 299 332 383 974

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.

The bank was denationalised on 14 December of 1986 with the provision that the government of Bangladesh would hold at least 51% of its share capital and the rest would be subscribed by the general public. In 1997, the government's share in its paid up capital was 94.55%. Because of the very large share of the government in the bank's capital, it is still considered as a nationaliased commercial bank. On 30 June 2000, the number of shareholders of the bank was 2,723. On that date, its reserve funds stood at Tk 181 million.

In addition to traditional deposit taking in various accounts and providing loans to almost all sectors of the economy, the bank offers different types of services including agency services to the government in food procurement and collection of government revenue through the network of its branches all over Bangladesh. Rupali Bank has large participation in foreign exchange business including overseas remittance services. The total volume of foreign exchange business handled by the bank in servicing imports and exports of goods and remittance during 1999-2000 amounted to Tk 22.743 billion compared to only Tk 480 million in 1972-73. At present, the bank has correspondent relationships with 175 foreign banks/bank offices throughout the world.

The management of the bank is vested in a 13-member board of directors appointed by the government. The board has a chairman assisted by 6 directors. The managing director is the chief executive of the bank. The bank has a divisional office at each of the six administrative divisions of the country and in addition, it has regional offices. The various important divisions/departments of the bank at its head office are for personnel, establishment and welfare, general banking, central accounts, development, planning and research, general credit, specialised credit, international transactions, audit and inspection, law and recovery and rural credit and reconciliation. The bank operates a large-scale foreign trade and also provides different services including transshipment of foreign remittances. Presently the bank is functioning correspondent banking with 162 banks and financial institutions all over the world. Also it had an overseas branch in Karachi.

The bank receives deposit from various service's accounts and distributes loan in every sector of economy. Moreover, Rupali bank arranges for agency service to the government in food collecting programme and accepts revenue through all the 492 branches across the country. At present, the total number employee of the bank is 4293. [Muhammad Abdul Mazid]