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)
|Paid up capital||759||910||1093||1967||2203||2644|
|(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|
|Foreign Currency Trading||15026||23918||29542||40060||61590||70284|
|Total Branches (in numbers)||18||22||26||29||32||41|
|Loan Outstanding by Sector|
|Agriculture and Fisheries||-||-||18||20||76||26|
|Trade and Commerce||3194||3917||3389||4485||9458||5782|
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]