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]