Mutual Trust Bank Limited
Mutual Trust Bank Limited (MTB) a commercial bank in the private sector. It started banking operation on 24 October in 1999. Initially, the Authorised capital and Paid up capital of the bank were 1000 million and 200 million taka respectively. By the end of 2009, the authorised capital and paid up capital rose to 3800 and 1766 million taka. Presently it has 76 braches and 11 SME centres. The total staffs and officers of the bank were 841 in 2009. The power of policy-making of the bank lay down on a 12-member Board of Directors. Managing Director as an Executive Chief manages all activities, who is assisted by three Deputy-managing Directors and three higher Executive Officers. The bank has stretched its financing operation through the introducing of SME programme for aiming of decreasing risk of debt and for expanding multiplication of its lending activities. For poverty reduction, Mutual Trust Bank prefers SME banking to generate a huge number of job opportunities. It observed 2008 as SME Year.
Basic facts and economic indicators (in million Taka).
|Paid up capital||720||864||950||998||1497||1766|
|(a) Call Deposits||1498||1998||2666||3933||4022||4992|
|(b) Term Deposits||11666||14101||19598||20844||29798||37362|
|Loans and Advance||11693||14373||18592||25686||28530||33883|
|Foreign Currency Trading||20586||27036||41870||48602||57086||55950|
|Total Branches (in numbers)||16||20||25||30||36||44|
|Loan Outstanding by Sector|
|Agriculture and Fisheries||-||-||-||-||26||145|
|Trade and Commerce||4476||6400||8448||12581||13654||9866|
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.
In 2009, the bank managed foreign currency business in total of the 55,950 million of which export, import and remittance was 19,676, 29,721 and 6,553 million respectively. It has a strong representative banking network with 227 banks all over the world. It conducts swift Relation Management Application (RMA) with 379 popular banks of the world, out of which 42 was local and 311 foreign bank. The MTB established a MTB Remittance Arrangement which compromises of few exchange houses for collecting remittance in convenience of Bangladeshi wage earners lived in abroad to send their money.'
Mutual Trust Bank endows with various facilities to customers including debt, credit and pre-paid card. At present, the bank offers 7 types of card like debt card, remittance card (pre-paid), classic card, gold credit card, international credit card, international travel card and hajj card. The customers can easily draw money, shopping and traveling using these cards in home and abroad.
The bank has been ensured its existence in the capital market as a full Services Depository participant of CDBL and member of dhaka stock exchange. Right now MTB provides brokerage house facilities in the branch of Motijheel, Gulshan, Pallabi, Uttara and a branch of Chittagong. According to the Margin Rules 1999, Mutual Trust Bank has already started to distribute loan to the customers. [Muhammad Abdul Mazid]