Prime Bank Limited
Prime Bank Limited a private sector commercial bank incorporated in Bangladesh under the companies act 1994 and commencement of business started on 17th April 1995 with an authorised capital of Tk 1,000 million divided into 10 million ordinary shares of Tk 100 each. The bank is registered with the securities and exchange commission and its shares are traded at the Dhaka and Chittagong Stock Exchanges.
The management of the bank is vested in a 12-member board of directors with the managing director as the chief executive. The registered head office of the bank is at Dhaka. Prime Bank offers all kinds of commercial, corporate and personal banking services covering all segments of society within the framework of Banking Company Act and rules and regulations laid down by the central bank. Diversification of products and services include Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture, and real state to software. It provides islami banking through seventy branches. PBL has introduced One Stop Utility Services Scheme which is designed to provide all the required services to the customer in making payment of their utility bills on their behalf from the counter of the Bank.
|Basic facts and economic indicators (in million Taka)|
|Paid up capital||1000||1400||1750||2275||2844||3555|
|(a) Call Deposits||5697||10107||13320||17762||19227||35431|
|(b) Term Deposits||22372||25915||41404||52750||68794||71525|
|Loans and Advance||23220||35132||45011||57684||75156||89252|
|Foreign Currency Trading||59326||72873||109490||137838||182643||198996|
|Total Branches (in numbers)||36||41||50||61||70||84|
|Loan Outstanding by Sector|
|a) Agriculture and Fisheries||2635||1352||244||272||346||431|
|c) Trade and Commerce||7995||10445||13993||16417||18624||25970|
|d) Poverty Reduction||---||---||---||570||539||438|
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 2008-09.
The bank has consistently turned over good returns on Assets and Capital. Prime Bank Ltd, since it's beginning has attached more importance in technology integration. In order to retain competitive edge, investment in technology is always a top agenda and under constant focus. Keeping the network within a reasonable limit, bank's strategy is to serve the customers through capacity building across multi delivery channels. The Bank has set up a Wide Area Network (WAN) across the country to provide Online branch banking facility to its valued clients. PBL is one of the first few Bangladeshi Banks who have become member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) in 1999 and opened up possibilities for uninterrupted connectivity with over 5,700 user institutions in 150 countries around the world.
Prime Bank obtained Principal Membership of Master-Card International in the month of May 1999 and launched Master Card-Credit Card which created a new dimension in its customer service and consumer financing. The special feature of the Prime Bank Master Card is that its bears the card holder's photo on the card, which is the first of its kind in Bangladesh and adds security against misuse. Prime Bank issues few types of cards like Gold Local & International and Silver Local & International. Local cards can be used in Bangladesh only.
Prime Bank established its fully-owned subsidiary 'Prime Exchange Co Pvt Ltd' to offer remittance services to Bangladeshi nationals in Singapore, which started its operation from 8th July, 2006, under remittance license received from Monetary Authority of Singapore (MAS) and approval of Bangladesh Bank. The Exchange Company is located at Serangoon area near Mustafa Centre, where Bangladeshi nationals congregate during weekends for social interaction and money remittance services. [Muhammad Abdul Mazid]