NRB Commercial Bank Limited

NRB Commercial Bank Limited The NRB Commercial Bank Limited started its banking operations on 18 April 2013 after obtaining official permission on 2 April 2013. It was established by non-resident Bangladeshi expatriates living in different countries of the world. The assumption was that the NRB sponsors would not only invest huge funds but would also bring ‘state of the art technology’ to build a world-class bank tailored to meeting developmental needs of the country. It started its journey as a fully automated bank through application of core banking software. The bank has an authorised capital of Taka 10 billion. As of November 2020, the number of branches, ATM booths, and agent points were 101, 45, and 563 respectively.

The cumulative deposits and loans cum advances status of NRB Commercial Bank Limited as a percentage of overall banking sector during 2019 were both 0.6 per cent. The deposits in the bank rose by 32.9 per cent during the year to reach Taka 71,857.90 million. On the other hand, the loans and advances increased by 28.9 per cent during 2019 to stand at Taka 62,015.00 million. The average interest rate spread between deposits and loans stood at 5.5 per cent during the year.

The sector-based loans and advances status of NRB Commercial Bank Limited at the end of 2019 was as follows: (a) working capital financing – 34%; (b) trade and commerce – 13%; (c) industries – 12%; (d) construction – 34%; (e) agriculture, fisheries and forestry – 1%; (f) transport and communication – 0.3%; (g) other loans – 6%. The industrial loans rose by 51.8 per cent to stand at Taka 37,981.60 million at the end of the year, while agricultural loans reached Taka 678.40 million by growing at a rate of 65.1 per cent during the year. Remittances received by the bank during the year were Taka 2093.90 million, while the amount spent for CSR (corporate social responsibility) stood at Taka 22.70 million. Taka 1,339.50 million were disbursed under green financing, while the female entrepreneurs received Taka 325.60 million as loans.

The bank has been striving to maintain its high standard as a credible financial institution by catering to the needs of both resident and non-resident customers, institutional subscribers, small and medium enterprises, female entrepreneurs, agriculture sector, and green financing. [Helal Uddin Ahmed]

References Banking Almanac: Banks and Financial Institutions of Bangladesh 2016. Dhaka: Shikkha Bichitra, December 2016; Report on Financial Institutions 2018-2019. Dhaka: Financial Institutions Division, June 2020; Website of Global Islami Bank Limited.