Standard Bank Limited

Standard Bank Limited a private sector commercial bank. It started operations on 3 June 1999 with an authorised capital of Tk 750 million and paid up capital of Tk 200 million. The capitals were divided into ordinary shares of Tk 100 each. The 50% of paid up capital was paid by entrepreneurs directors designated as Group-A shareholders and the remaining 50% was paid by members of the general public designated as Group-B shareholders. The bank was incorporated as a public limited company under companies act 1994.

The bank offers commercial banking services including deposit, providing loans and advances, export and import financing, inland and international remittance facilities and other ancillary customer services to banking and finance. Since its inception, the bank conducts foreign exchange business. It has correspondent relationships with 22 foreign banks and financial institutions. The bank plays an important role to explore the domestic economy through those foreign banks and financial institutions. Moreover, the bank with the view of helping of migrated workers opened an exchange house named with Standard Exchange Company Limited in the UK. So they can send remittance easily and swiftly. Standard Bank already has introduced on-line banking, ATM and Debit Card facilities.

Basic facts and economic indicators (in million Taka)

Indicators	2004	2005	2006	2007	2008	2009
Authorised capital	1250	1250	3000	3000	3000	8800
Paid up capital	759	910	1093	1967	2203	2644
Reserved Fund	341	502	671	897	1220	1586
Deposits	8731	12043	14221	19008	29305	42556
(a) Call Deposits	1191	1960	1913	3387	4812	5578
(b) Term Deposits	7540	10083	12308	15621	24493	36978
Loans and Advance	7801	10182	12634	17311	27189	38056
Investment	943	1273	1623	2014	3217	5340
Total Asset	11071	14442	16861	22949	34210	49001
Total income	1147	1602	2206	3794	4164	5545
Total Expenditure	655	986	1473	2859	2696	4015
Foreign Currency Trading	15026	23918	29542	40060	61590	70284
a) Export	3537	7569	10707	13428	25072	29177
b) Import	11353	16145	18270	26155	35689	40411
c) Remittance	136	204	565	477	829	696
Total Manpower	405	449	556	615	757	821
a) Officers	299	327	409	465	587	627
b) Staff	106	122	147	159	170	194
Correspondents Banks	18	20	21	22	21	22
Total Branches (in numbers)	18	22	26	29	32	41
a) Domestic	18	22	26	29	32	41
b) Overseas	-	-	-	-	-	-
Agriculture Credit
Loan Disbursed	-	-		10	34	102
Realised	-	-		2	16	48
Industrial Credit
Loan Disbursed	4310	1193	51	5457	14409	43227
Realsied	1321	418	4	2797	9633	28899
Loan Outstanding by Sector
Agriculture and Fisheries	-	-	18	20	76	26
Industry	880	1663	2056	2355	5052	1043
Trade and Commerce	3194	3917	3389	4485	9458	5782
Poverty Reduction	-	-	-	-	-	38

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 has started 6 SME Service Centres in different regions of country for stretching small and medium size industry, providing assistance to less income people and poverty alleviation. Besides this, the bank is lending money for rural development and irrigation in easy terms. Furthermore, the bank is catering the investors of the capital market through merchant banking service facilities. Besides, the conventional banking system, the bank established two Islami Wing to introduce islami banking services.

The management and approval of policies of the bank is vested in a 17-member board of directors. The managing director is the chief executive of the bank. At present (2010), the bank has 58 branches and 821 employees in different levels. [S M Mahfuzur Rahman]