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United Commercial Bank Limited


United Commercial Bank Limited (UCBL) incorporated on 26 June 1983 as a public company with limited liability under the Companies Act 1994. The bank started banking operations with an authorised capital of Tk 100 million divided into 1 million ordinary shares of Tk 100 each. The paid up capital was Tk 35.5 million. Later, both authorised and paid up capital were increased several times and on 31 December 2009, they stood at Tk 1,000 million and Tk 299 million respectively. Of the total paid up capital, Tk 284.56 million was paid by its 37 sponsors and Tk 114.54 million by 3,048 public shareholders. The remaining Tk 14.44 million was subscribed by the government of the People's Republic of Bangladesh. Reserve funds of the bank comprised statutory reserves and general reserves of Tk 2205.00 million in 2009 as against Tk 85.88 million in 1990. The management of the bank is vested in a 20-member board of directors with the managing director as the chief executive. The bank is listed with Dhaka and Chittagong stock exchange.

Basic facts and economic indicators (in million Taka).

Indicators 2004 2005 2006 2007 2008 2009
Authorised capital 1000 1000 1000 1000 1000 1000
Paid up capital 230 230 230 299 299 299
Reserved Fund 783 1045 1272 1606 1889 2205
Deposits 20970 24559 33016 42296 54485 77730
a) Call Deposits 5057 5772 6280 8510 8761 12282
b) Term Deposits 15913 18787 26736 33786 45724 65448
Loans and Advance 15385 20211 26110 37566 44446 62350
Investment 3020 2877 6101 5518 7317 9346
Total Asset 25059 28813 38408 50181 64911 90484
Total income 2554 3188 4118 6052 7850 9540
Total Expenditure 1696 2036 2766 4034 5301 6415
Foreign Currency Trading 35406 45708 62377 89516 100974 103239
a) Export 10470 14785 20803 27230 36500 38518
b) Import 24386 29408 39853 60329 60008 58857
c) Remittance 550 1515 1721 1957 4466 5864
Total Manpower 1878 1949 2029 2102 2292 2508
a) Officers 1180 1236 1284 1315 1519 1783
b) Staff 698 713 745 787 773 725
Correspondent Banks 317 322 334 345 115 257
Total Branches (in numbers) 80 80 84 84 84 98
a) Domestic 80 80 84 84 84 98
b) Overseas - - - - - -
Agriculture Credit
a) Loan Disbursed - - - - - 204
b) Realised - - - - - 111
Industrial Credit
a) Loan Disbursed 1733 2381 3660 4303 3071 13657
b) Realsied 527 329 457 1246 1856 2975
Loan Outstanding by Sector
a) Agriculture and Fisheries 225 451 - - - 90
b) Industry 1539 2198 3804 6131 9571 13624
c) Trade and Commerce 8560 13620 16506 23461 26788 34931
d) Poverty Reduction - - - - - -

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 provides loans to small, medium and large-scale industrial units, housing, export and import financing and trade and commerce. Lending rates varied between 10% and 16.5%. In 2009, foreign exchange business of the bank was carried at the total amount of Tk 1,03,239 million that comprised Tk 38,518 million for export, Tk 58,857 million for import and Tk 5,864 million for remittance. The bank has correspondent relationships with 257 foreign banks and financial institutions in 2009. [Muhammad Abdul Mazid]