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BASIC Bank Limited is one of seven state owned banks in Bangladesh. [9] In 2016 the finance minister in a statement described the state of the bank as weak due to graft by top officials of the bank and would require some time for improvement. [10] Sonali Bank UK Ltd and other international banks had censured Basic bank over irregularities. [11]
In June, the Bank had 19.54 billion BDT in bad loans accounting for 9.63 per cent of all loans of the bank. [20] In November, Bangladesh Bank appointed Md Shazzad Hossoin, an official of Bangladesh Bank, to one bank as an observer. [20] One Bank reduced their CEO pay following decline in profit in 2021. [21]
NCC Bank was founded in 1985 as an investment company in the name of NCL (National Credit Limited). [1] It became a scheduled commercial bank after receiving permission from the central bank in 1993 and started with a paid up capital of Tk. 390 million. [1] In June 2008, Tofazzal Hossain was elected chairman of NCC Bank. [6]
In September 2021, a special internal audit of NRB Bank found that the bank engaged in "unethical" investments in the stock marketing causing harm to both the bank, a loss of 1.03 billion taka, and the stock market. [13] [14] Bangladesh Bank finned the bank 4.9 million taka over the investments and market manipulation.
On 14 November 2007 Bangladesh bank approved the name change to AB Bank from Arab Bangladesh Bank. [5] AB Bank Limited able to show a substantial improvement during the calendar year 2019 because of the efforts of its board of directors and management and placed in the "B" category on the stock market upgraded from "Z" category. [6]
In 2001, the bank introduced automated branch banking system. In 2005, the bank introduced ATM services for its customers. In January 2007, Trust Bank launched online banking services. [2] Customers can now deposit or withdraw money from any branch of Trust Bank nationwide without needing to open multiple accounts in multiple branches. [2]
Bangladesh Bank is the central bank of Bangladesh and the chief regulatory authority in the banking sector. According to the Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized the Dhaka Branch of the State Bank of Pakistan as the central bank of the country and named it Bangladesh Bank with retrospective effect from 16 ...