Shimanto Bank Limited

Shimanto Bank Limited a fourth-generation private sector scheduled bank incorporated as a public limited company under the company act, 1994 and got approval from Bangladesh Bank on 21 July 2016. It commenced banking operations on 1 September 2016 with authorized capital 10,000 million taka and paid-up capital 4,000 million taka. The management of the bank is vested in a 9-member board of directors.

Basic economic indicators of the MBL pertaining to the period from 2018 to June 2020 are placed in the chart below:

Basic facts and economic indicators (in million Taka)

Indicators	2018	2019	2020
Authorized Capital	10,000	10,000	10,000
Paid up Capital	4,000	4,000	4,160
Reserved Fund	90	268	305
Deposits	6,983	10,114	13,150
(a) Call Deposits	231	4,895	6,575
(b) Term Deposits	6,752	5,219	6,575
Loans and Advance	5,835	8,333	8,614
Investment	762	1,752	2,076
Total Asset	11,377	1,482	18,560
Total Income	811	743	442
Total Expenditure	629	809	455
Foreign Currency Trading
a) Export	0	0.1	143
b) Import	0	1	895
c) Remittance	0	0.7	89
Total Manpower	332	209	199
a) Officers	199	29	21
b) Staff	133	180	178
Correspondent Banks	0	3	3
Total Branches (in numbers)	13	18	18
a) Domestic	13	18	18
b) Overseas	0	0	0
Agriculture Credit
Loan Disbursed	0.9	52	14
Realised	0	0	0.5
Industrial Credit
Loan disbursed	1,495	856	1,026
Realsied	54	609	141
Loan Outstanding by Sector
Agriculture and Fisheries	0.5	1	15
Industry	61	263	482
Trade and Commerce	31	10	121
Poverty Reduction	0	0	0
CSR	4	8	1

Sources Government of Bangladesh, Ministry of Finance, Financial Institution Division, Barshik Protibedon [Annual Report on Banks and Financial Institutions], 2019-20 and 2020-21.

In 2020, bank deposits accounted for 0.09 per cent of total banking sector deposits and loans and advances accounted for 0.07 per cent of total banking sector loans and advances. The average interest rate differential between June 2020 based deposits and loans and advances was 5.6 percent. [Muhammad Abdul Mazid]