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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]