Jamuna Bank Limited

Jamuna Bank Limited is a commercial bank in the private sector. It was registered as Banking Company under the Companies Act, 1994 on 2 April 2001. It started its operation on 3 June with an authorized capital of taka 16 hundred million divided into 5 million general shares of Tk100 each. At the initial stage the entire 390 million taka were its authorized capital and paid by the sponsor shareholders. At the end of 2020 the authorized and paid-up capital of the Jamuna Bank rose to 10000 and 7492 million Taka respectively.

The bank conducts all types of commercial banking activities including deposit taking, providing loans, foreign trade and project financing. Since its inception the Bank participated in foreign exchange business and foreign trade. In 2020, the Bank has correspondent relationships with 845 locations of the world reputed Banks throughout the world. To make the capital structure reasonable for the implementation of the directives concerning capital formation under BASEL-2, the appointment of a high-powered implementation committee is a remarkable job of Jamuna Bank. At this it will be possible for Jamuna Bank to ascertain the fixation of its capital at the level as specified by Bangladesh Bank. Jamuna Bank is continuing its activities on the basis of preservation of the value of assets, sufficiency of capital, appreciating qualities of assets, expert management, satisfactory income and liquidity. It started online banking services in 2005 to provide customer services swiftly and in a very minute moment. The Bank has established 245 ATM booths and introduced direct debit card, restricted credit card, Tele banking, Internet banking and SMS banking. With import and export financing, Jamuna Bank gives long and short-term loan to trade and commerce, large and medium scale and maximum loan to current assets.

Jamuna bank operates Marriage Deposit Scheme, Lakhpati Deposit Scheme, Millionaire Deposit Scheme, Kotipati Deposit Scheme, Education Savings Scheme, Monthly Benefit Scheme, Monthly Savings Scheme and Double Growth Deposit Scheme. Jamuna Bank Limited is the pioneer in this sector and termed the contribution simply as 'social responsibility'. As a part of its social responsibility Jamuna Bank gives awards to the poor meritorious students and takes responsibility in prosecution of their studies. The other parts of its social responsibility are to take programs for donation of blood and the treatment of eye free of cost.

Basic Facts and Economic Indicators (In Million Taka)

Indicators	2018	2019	2020
Authorized Capital	10000	10000	10000
Paid up Capital	7492	7492	7492
Reserved Fund	10581	9668	16652
Deposits	188034	202510	191104
a) Call Deposits	39977	41493	43653
b) Term Deposits	148057	161017	147451
Loans and Advances	165403	177279	162658
Investment	31649	39201	50970
Total Asset	225018	242929	241534
Total Income	9818	11440	10861
Total Expenditure	5189	5598	5772
Foreign Currency Trading	251316	247392	221543
a) Export	106071	103951	92326
b) Import	130242	125265	111097
c) Remittance	15003	18176	18120
Total Manpower	2824	3046	3096
a) Officers	2253	2432	2497
b) Staff	571	614	599
Correspondent Banks	875	850	845
Total Branches (in numbers)	132	141	149
a) Domestic	132	141	149
b) Overseas	0	0
Agriculture Credit
Loan Disbursed	2117	2413	1311
Realised	1849	1514	2233
Industrial Credit
Loan Disbursed	66372	70683	48572
Realsied	54268	61005	51852
Loan Outstanding by Sector
Agriculture and Fisheries and Forestry	1860	2755	1991
Industry	30579	34662	36459
Trade and Commerce	60886	50138	50533
Poverty Reduction
CSR	140	110	344

Source Government of Bangladesh, Ministry of Finance, Banking and Financial Institution Division, Barshik Protibedon [Annual Report on Banks and Financial Institutions], 2019-20 and 2020-21.

A 20-member board of directors governs the overall affairs of the bank. The chief executive of the bank is managing director. Its Head Office at Jamuna Bank Tower, Plot 14, Bir Uttam A K Khandker Road, Block C, Gulshan 1, Dhaka 1212.

In 2019, bank deposits accounted for 1.6 per cent of total banking sector deposits and loans and advances accounted for 1.6 per cent of total banking sector loans and advances. The average interest rate differential between June 2019 based deposits and loans and advances was 4.7 percent. [Md Ashik Iqbal and Muhammad Abdul Mazid]