Uttara Bank Limited: Difference between revisions

No edit summary
No edit summary
 
(8 intermediate revisions by one other user not shown)
Line 1: Line 1:
'''Uttara Bank Limited'''  one of the largest and oldest private sector commercial bank in Bangladesh. It was set up as a scheduled bank of the Eastern Banking Corporation in East Pakistan in 1965 and Corporation started banking on 22 June of the same year. It became a member of the Dhaka Clearing House on 17 September 1965. At the time of establishment Eastern Banking Corporation had a paid up capital of Tk 1.42 million and deposit resources of about Tk 10 million. It was the only scheduled bank established with capital raised entirely from the small income group of people of East Pakistan. Eastern Banking Corporation was nationalised under the Bangladesh Banks (Nationalisation) Order 1972 and took rename Uttara Bank with 95% of its share capital. At that time the bank had 182 branches. The government retracted and allowed it to operate as a private bank. It was transformed into a limited company on 15 September 1983. On 31 December 2000, the authorised capital of the bank was Tk 200 million divided into 2 million ordinary shares of Tk 100 each. Its paid up capital was Tk 100 million, of which Tk 5 million is subscribed by the government. The bank is listed with both Dhaka and Chittagong [[Stock Exchange|stock exchange]].  
'''Uttara Bank Limited'''  is one of the largest and oldest private sector commercial bank in Bangladesh. It was set up as a scheduled bank of the Eastern Banking Corporation in East Pakistan in 1965 and Corporation started banking on 22 June of the same year. It became a member of the Dhaka Clearing House on 17 September 1965. At the time of establishment Eastern Banking Corporation had a paid up capital of Tk 1.42 million and deposit resources of about Tk 10 million. It was the only scheduled bank established with capital raised entirely from the small income group of people of East Pakistan. Eastern Banking Corporation was nationalised under the Bangladesh Banks (Nationalisation) Order 1972 and took rename Uttara Bank with 95% of its share capital. At that time the bank had 182 branches. The government retracted and allowed it to operate as a private bank. It was transformed into a limited company on 15 September 1983. On 31 December 2000, the authorised capital of the bank was Tk 10000 million. Its paid up capital was Tk 5019 million. The bank is listed with both Dhaka and Chittagong [[Stock Exchange|stock exchange]].  


<p class=style1>Basic facts and economic indicators (in million Taka).
The management of the bank is vested in a 15-member board of directors consisting of a chairman, a vice Chairman and 12 directors. The managing director is the chief executive assisted by a deputy managing director and 2 assistant managing directors. With two corporate offices and 11 divisions at its headquarter banking activities of Uttara Bank Limited in 241 branches are supervised through its 12 zonal offices in different parts of the country.


Indicators
Basic Facts and Economic Indicators (In Million Taka)


2004
{| class="table table-bordered table-hover"
|-
|Indicators || 2018 || 2019 || 2020
|-
|Authorized Capital || 6000 || 6000 || 10000
|-
|Paid up Capital || 4000.8 || 4080.8 || 5019.4
|-
|Reserved Fund || 10781.4 || 11581.4 || 12449.7
|-
|Deposits || 153057.8 || 156921.1 || 181275.5
|-
|a) Call Deposits || 67855.2 || 64832.2 || 71189.6
|-
|b) Term Deposits || 85202.6 || 92088.9 || 11085.9
|-
|Loans and Advances || 118789.7 || 124670.7 || 133854
|-
|Investment || 28669.3 || 29903.1 || 31347.3
|-
|Total Asset || 190029.9 || 193161.6 || 222600.2
|-
|Total Income || 17097.5 || 17225.2 || 15732.3
|-
| Total Expenditure || 13186 || 12418.9 || 11850
|-
|Foreign Currency Trading || 111930.3 || 112279 || 112352.4
|-
|a) Export || 17115.7 || 23322.2 || 61594.2
|-
|b) Import || 56018 || 56307.7 || 26022.1
|-
|c) Remittance || 38796.6 || 32649.1 || 24736.1
|-
|Total manpower || 3527 || 3515 || 3801
|-
|a) Officers || 2958 || 3018 || 2897
|-
|b) Staff || 569 || 497 || 904
|-
|Correspondent Banks || 536 || 526 || 380
|-
|Total Branches (in numbers) || 235 || 239 || 241
|-
|a) Domestic || 235 || 239 || 241
|-
|b) Overseas || 0 || 0 || 0
|-
|Agriculture Credit
|-
|Loan Disbursed || 1726.8 || 2092.7 || 2978.2
|-
|Realised || 1116.3 || 2448.4 || 2060.8
|-
|Industrial Credit
|-
|Loan Disbursed || 37278.6 || 18268.6 || 31691.2
|-
|Realsied || 34518.4 || 38449.6 || 29642.1
|-
|Loan Outstanding by Sector
|-
|Agriculture and Fisheries and Forestry || 2805.5 || 2423.7 || 3398.1
|-
|Industry || 10475.6 || 6624.2 || 8624.1
|-
|Trade and Commerce || 52750.3 || 50942.6 || 54164.2
|-
|Poverty Reduction || 159.3 || 3.5 ||
|-
|CSR || 92.9 || 38.2 || 79.2
|}


2005
''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.


2006
Uttara Bank performs all traditional commercial banking functions. It renders agency services to the government in food procurement and collection of government revenue through the network of its branches all over the country. The bank has correspondent relationships with 662 foreign banks/bank offices and 65 exchange houses. Of them Arabian Exchange Company in Doha, Qatar is being operated under bank’s own management and supervision. On the other hand wage earners from any place of the world can remit their money to Bangladesh through Money Gram Company of USA under a protocol signed between Uttara Bank and the Money Gram. Money so remitted is transferred to the beneficiaries accounts quickly through 241 branches of the bank.


2007
With the objective of attracting the Bangladeshi wage earners abroad and the non-resident foreigners to invest in Bangladesh, the bank offered them the opportunity to open Non-resident Foreign Currency Deposit (NFCD) account, Foreign Currency Current Deposit (FCCD) account, Wage Earners Development Bond (WEDB) and Non-resident Investment Taka Account (NRITA). For this purposes the bank established Home Remittance Cell (SRC). The bank has some other schemes to induce the wage earners to invest their savings in the securities market of the country. Any Bangladeshi national can open Resident Foreign Currency Deposit (RFCD) account with any authorised branch of Uttara Bank to retain excess of foreign travel quota, or foreign exchange earning. The bank has earned a reputation and confidence of the wage earners in successfully transmitting foreign income to their beneficiaries promptly and without hassles. Remittances fell from 32649 million in 2019 to Tk 24,736 million in 2020 due to Covid 19. Money remitted from any corner of world is ascertained to be deposited in the account of the recipient within two hours of its arrival under Express Payment Scheme of Uttara Bank. Clients who have no account in the bank can receive remittance in cash in the counter through their passports, driving licenses, remittance cards, voter ID cards and credit cards under its Instant Cash Scheme. Besides, the bank delivers a draft dispatched by a money sending company, to the address of the recipient and pays him the equivalent money of the foreign currency under Instant Draft Scheme.


2008
E-mail and Internet connections are available in almost all the branches of the bank including headquarters to speed up foreign exchange transactions. SWIFT system is available in 38 branches and international division. It has introduced Q-Cash, UBL-ATM Debit Card through which the customer can draw cash and transfer money within 24 hours. It has an individual ATM booth. This service of the bank is operated all over the country through 121 Q-cash ATM booths and all ATM booths of BRAC Bank. Bank has introduced Nari Swanirvar Rin Prokalpa to make the women entrepreneurs self-supporting.


2009
The bank is actively associated with syndicated financing to innovate both domestic and foreign investments in Bangladesh. Bank has participated in syndicated lending to BRAC, Dhaka Telephone Company Limited, Rankstel Limited, BSRM Steels Limited, Grameenphone Limited, Warid Telecome Limited, Sheba Telecom Limited, Venture Capital Energy Limited, Akber Composit Limited, Rising Spinning Limited, Malancha Holding Limited, Banga Builders Limited etc.
To meet the credit demand of small income group of rural and the urban area and to create employment for jobless youths and young women, the bank has introduced some special CREDIT facilities. Bank is channeling special credit through its Bhagalpur branch in Kishoreganj district in dairy and poultry products to create job for the poor segment population of the area. Bank has been maintaining a special marketing outlet Uttaran since 1996, which is becoming popular among the buyers of marginal income.


Authorised capital
In 2020, bank deposits accounted for 1.2 percent of total banking sector deposits and loans and advances accounted for 1.1 per cent of total banking sector loans and advances. The average interest rate differential between June 2020 based deposits and loans and advances was 4.9 percent. [Muhammad Abdul Mazid]  
 
200
 
200
 
1000
 
1000
 
1600
 
3200
 
Paid up capital
 
100
 
100
 
200
 
399
 
799
 
1597
 
Reserved Fund
 
1742
 
1765
 
1866
 
2054
 
2890
 
4610
 
Deposits
 
34615
 
36892
 
39360
 
43586
 
50817
 
59387
 
a) Call Deposits
 
7990
 
7839
 
9918
 
11978
 
13625
 
14222
 
b) Term Deposits
 
26625
 
29053
 
29442
 
31608
 
37192
 
45166
 
Loans and Advance
 
18601
 
21850
 
25164
 
28477
 
37141
 
39451
 
Investment
 
12794
 
10062
 
9565
 
14456
 
11188
 
22503
 
Total Asset
 
40155
 
42062
 
45217
 
52860
 
58444
 
71946
 
Total income
 
3821
 
4265
 
4435
 
5020
 
6314
 
7397
 
Total Expenditure
 
2611
 
2650
 
3153
 
3554
 
4008
 
4883
 
Foreign Currency Trading
 
62923
 
68560
 
69493
 
69768
 
82260
 
88862
 
a) Export
 
19133
 
18192
 
18134
 
14785
 
15040
 
15097
 
b) Import
 
24080
 
23090
 
22631
 
25408
 
31147
 
29129
 
c) Remittance
 
19710
 
27276
 
28728
 
29575
 
36073
 
44635
 
Total Manpower
 
3382
 
3265
 
3505
 
3476
 
3476
 
3291
 
a) Officers
 
2153
 
2085
 
2272
 
2372
 
2311
 
2123
 
b) Staff
 
1129
 
1180
 
1233
 
1104
 
1165
 
1164
 
Correspondent Banks
 
629
 
629
 
648
 
686
 
720
 
662
 
Total Branches (in numbers)
 
198
 
198
 
201
 
207
 
207
 
211
 
a) Domestic
 
198
 
198
 
201
 
207
 
207
 
211
 
b) Overseas
 
-
 
-
 
-
 
-
 
-
 
Agriculture Credit
 
a) Loan Disbursed
 
-
 
20
 
-
 
50
 
87
 
253
 
b) Realised
 
-
 
15
 
-
 
-
 
40
 
75
 
Industrial Credit
 
a) Loan Disbursed
 
3830
 
4786
 
6243
 
3250
 
7126
 
5288
 
b) Realsied
 
3742
 
4366
 
5921
 
1823
 
3915
 
7489
 
Loan Outstanding by Sector
 
a) Agriculture and Fisheries
 
17
 
16
 
18
 
61
 
73
 
438
 
b) Industry
 
3423
 
4458
 
1723
 
5012
 
6192
 
5560
 
c) Trade and Commerce
 
10273
 
9890
 
11706
 
15495
 
2200
 
16669
 
d) Poverty Reduction
 
60
 
45
 
48
 
5
 
7
 
35
 
<p class=style1>
''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 management of the bank is vested in a 13-member board of directors consisting of a chairman and 12 directors. The managing director is the chief executive assisted by a deputy managing director and 2 assistant managing directors. With two corporate offices and 11 divisions at its headquarter banking activities of Uttara Bank Limited in 211 branches are supervised through its 12 zonal offices in different parts of the country.
 
The authorised capital of the bank stood at Tk 3200 million in 2009 from Tk 1600 million in 2008. The paid up capital rose to Tk 1597 million in 2009 from Tk 799 million in 2008. The reserve fund of the bank stood at Tk 4,610 million in 2009 from Tk 2890 million in 2008.
 
Uttara Bank performs all traditional commercial banking functions. It renders agency services to the government in food procurement and collection of government revenue through the network of its branches all over the country. The bank has correspondent relationships with 662 foreign banks/bank offices and 65 exchange houses. Of them Arabian Exchange Company in Doha, Qatar is being operated under bank';s own management and supervision. On the other hand wage earners from any place of the world can remit their money to Bangladesh through Money Gram Company of USA under a protocol signed between Uttara Bank and the Money Gram. Money so remitted is transferred to the beneficiaries accounts quickly through 207 branches of the bank.
 
With the objective of attracting the Bangladeshi wage earners abroad and the non-resident foreigners to invest in Bangladesh, the bank offered them the opportunity to open Non-resident Foreign Currency Deposit (NFCD) account, Foreign Currency Current Deposit (FCCD) account, Wage Earners Development Bond (WEDB) and Non-resident Investment Taka Account (NRITA). For this purposes the bank established Home Remittance Cell (SRC). The bank has some other schemes to induce the wage earners to invest their savings in the securities market of the country. Any Bangladeshi national can open Resident Foreign Currency Deposit (RFCD) account with any authorised branch of Uttara Bank to retain excess of foreign travel quota, or foreign exchange earning. The bank has earned a reputation and confidence of the wage earners in successfully transmitting foreign income to their beneficiaries promptly and without hassles. Remittances rose to Tk 44,635 million in 2009 from Tk 36073 million in 2008. Money remitted from any corner of world is ascertaind to be deposited in the account of the recipient within two hours of its arrival under Express Payment Scheme of Uttara Bank. Clients who have no account in the bank can receive remittance in cash in the counter through their passports, driving licenses, remittance cards, voter ID cards and credit cards under its Instant Cash Scheme. Besides, the bank delivers a draft dispatched by a money sending company, to the address of the recipient and pays him the equivalent money of the foreign currency under Instant Draft Scheme.
 
E-mail and Internet connections are available in almost all the branches of the bank including headquarters to speed up foreign exchange transactions. Swift system is available in 38 branches and international division. It has introduced Q-Cash, UBL-ATM Debit Card through which the customer can draw cash and transfer money within 24 hours. It has an individual ATM booth. This service of the bank is operated all over the country through 121 Q-cash ATM booths and all ATM booths of [[BRAC Bank|brac bank]]. Bank has introduced ''Nari Swanirvar Rin Prokalpa'' to make the women entrepreneurs self-supporting.
 
The bank is actively associated with syndicated financing to innovate both domestic and foreign investments in Bangladesh. Bank has participated in syndicated lending to AKTEL, BRAC, Dhaka Telephone Company Limited, Rankstel Limited, BSRM Steels Limited, Grameenphone Limited, Warid Telecome Limited, Sheba Telecom Limited, Venture Capital Energy Limited, Akber Composit Limited, Rising Spinning Limited, Malancha Holding Limited, Banga Builders Limited etc.
 
To meet the credit demand of small income group of rural and the urban area and to create employment for jobless youths and young women, the bank has introduced some special [[credit]] facilities. Bank is channeling special credit through its Bhagalpur branch in Kishoreganj district in dairy and poultry products to create job for the poor segment population of the area. Bank has been maintaining a special marketing outlet '''Uttaran'' since 1996, which is becoming popular among the buyers of marginal income. [Muhammad Abdul Mazid]


[[Category:Financial Institutes]]
[[Category:Financial Institutes]]


[[bn:উত্তরা ব্যাংক লিমিটেড]]
[[bn:উত্তরা ব্যাংক লিমিটেড]]

Latest revision as of 20:32, 13 October 2023

Uttara Bank Limited is one of the largest and oldest private sector commercial bank in Bangladesh. It was set up as a scheduled bank of the Eastern Banking Corporation in East Pakistan in 1965 and Corporation started banking on 22 June of the same year. It became a member of the Dhaka Clearing House on 17 September 1965. At the time of establishment Eastern Banking Corporation had a paid up capital of Tk 1.42 million and deposit resources of about Tk 10 million. It was the only scheduled bank established with capital raised entirely from the small income group of people of East Pakistan. Eastern Banking Corporation was nationalised under the Bangladesh Banks (Nationalisation) Order 1972 and took rename Uttara Bank with 95% of its share capital. At that time the bank had 182 branches. The government retracted and allowed it to operate as a private bank. It was transformed into a limited company on 15 September 1983. On 31 December 2000, the authorised capital of the bank was Tk 10000 million. Its paid up capital was Tk 5019 million. The bank is listed with both Dhaka and Chittagong stock exchange.

The management of the bank is vested in a 15-member board of directors consisting of a chairman, a vice Chairman and 12 directors. The managing director is the chief executive assisted by a deputy managing director and 2 assistant managing directors. With two corporate offices and 11 divisions at its headquarter banking activities of Uttara Bank Limited in 241 branches are supervised through its 12 zonal offices in different parts of the country.

Basic Facts and Economic Indicators (In Million Taka)

Indicators 2018 2019 2020
Authorized Capital 6000 6000 10000
Paid up Capital 4000.8 4080.8 5019.4
Reserved Fund 10781.4 11581.4 12449.7
Deposits 153057.8 156921.1 181275.5
a) Call Deposits 67855.2 64832.2 71189.6
b) Term Deposits 85202.6 92088.9 11085.9
Loans and Advances 118789.7 124670.7 133854
Investment 28669.3 29903.1 31347.3
Total Asset 190029.9 193161.6 222600.2
Total Income 17097.5 17225.2 15732.3
Total Expenditure 13186 12418.9 11850
Foreign Currency Trading 111930.3 112279 112352.4
a) Export 17115.7 23322.2 61594.2
b) Import 56018 56307.7 26022.1
c) Remittance 38796.6 32649.1 24736.1
Total manpower 3527 3515 3801
a) Officers 2958 3018 2897
b) Staff 569 497 904
Correspondent Banks 536 526 380
Total Branches (in numbers) 235 239 241
a) Domestic 235 239 241
b) Overseas 0 0 0
Agriculture Credit
Loan Disbursed 1726.8 2092.7 2978.2
Realised 1116.3 2448.4 2060.8
Industrial Credit
Loan Disbursed 37278.6 18268.6 31691.2
Realsied 34518.4 38449.6 29642.1
Loan Outstanding by Sector
Agriculture and Fisheries and Forestry 2805.5 2423.7 3398.1
Industry 10475.6 6624.2 8624.1
Trade and Commerce 52750.3 50942.6 54164.2
Poverty Reduction 159.3 3.5
CSR 92.9 38.2 79.2

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.

Uttara Bank performs all traditional commercial banking functions. It renders agency services to the government in food procurement and collection of government revenue through the network of its branches all over the country. The bank has correspondent relationships with 662 foreign banks/bank offices and 65 exchange houses. Of them Arabian Exchange Company in Doha, Qatar is being operated under bank’s own management and supervision. On the other hand wage earners from any place of the world can remit their money to Bangladesh through Money Gram Company of USA under a protocol signed between Uttara Bank and the Money Gram. Money so remitted is transferred to the beneficiaries accounts quickly through 241 branches of the bank.

With the objective of attracting the Bangladeshi wage earners abroad and the non-resident foreigners to invest in Bangladesh, the bank offered them the opportunity to open Non-resident Foreign Currency Deposit (NFCD) account, Foreign Currency Current Deposit (FCCD) account, Wage Earners Development Bond (WEDB) and Non-resident Investment Taka Account (NRITA). For this purposes the bank established Home Remittance Cell (SRC). The bank has some other schemes to induce the wage earners to invest their savings in the securities market of the country. Any Bangladeshi national can open Resident Foreign Currency Deposit (RFCD) account with any authorised branch of Uttara Bank to retain excess of foreign travel quota, or foreign exchange earning. The bank has earned a reputation and confidence of the wage earners in successfully transmitting foreign income to their beneficiaries promptly and without hassles. Remittances fell from 32649 million in 2019 to Tk 24,736 million in 2020 due to Covid 19. Money remitted from any corner of world is ascertained to be deposited in the account of the recipient within two hours of its arrival under Express Payment Scheme of Uttara Bank. Clients who have no account in the bank can receive remittance in cash in the counter through their passports, driving licenses, remittance cards, voter ID cards and credit cards under its Instant Cash Scheme. Besides, the bank delivers a draft dispatched by a money sending company, to the address of the recipient and pays him the equivalent money of the foreign currency under Instant Draft Scheme.

E-mail and Internet connections are available in almost all the branches of the bank including headquarters to speed up foreign exchange transactions. SWIFT system is available in 38 branches and international division. It has introduced Q-Cash, UBL-ATM Debit Card through which the customer can draw cash and transfer money within 24 hours. It has an individual ATM booth. This service of the bank is operated all over the country through 121 Q-cash ATM booths and all ATM booths of BRAC Bank. Bank has introduced Nari Swanirvar Rin Prokalpa to make the women entrepreneurs self-supporting.

The bank is actively associated with syndicated financing to innovate both domestic and foreign investments in Bangladesh. Bank has participated in syndicated lending to BRAC, Dhaka Telephone Company Limited, Rankstel Limited, BSRM Steels Limited, Grameenphone Limited, Warid Telecome Limited, Sheba Telecom Limited, Venture Capital Energy Limited, Akber Composit Limited, Rising Spinning Limited, Malancha Holding Limited, Banga Builders Limited etc. To meet the credit demand of small income group of rural and the urban area and to create employment for jobless youths and young women, the bank has introduced some special CREDIT facilities. Bank is channeling special credit through its Bhagalpur branch in Kishoreganj district in dairy and poultry products to create job for the poor segment population of the area. Bank has been maintaining a special marketing outlet Uttaran since 1996, which is becoming popular among the buyers of marginal income.

In 2020, bank deposits accounted for 1.2 percent of total banking sector deposits and loans and advances accounted for 1.1 per cent of total banking sector loans and advances. The average interest rate differential between June 2020 based deposits and loans and advances was 4.9 percent. [Muhammad Abdul Mazid]