History of the Bank
The importance of financial intermediaries in the development of the overall economy of country cannot be described in short. From the inception of the civilization the banking sector dominate the economic development of a country by mobilizing the saving from the general people and channelling those saving for investment and thus economic development and growth.
The importance of commercial banks after the ravage of the liberation war to develop a better economy was severally needed and it is needed now and will be required in future also. In time to time Government of Bangladesh agreed to permit the private commercial banking in the country.
To fulfil the demand as ...view middle of the document...
The authorized capital of PBL is Tk. 1000 million and paid up capital of the same bank is Tk. 400 million. The First Chairman of the
Bank was Mr. Abdul Gani and the present one is Mr. Azam J Chowdhury. Now the MD of Prime Bank Limited is Ahmed Kamal Khan Chowdhury. The bank has made a reasonable progress due to its visionary management people and its appropriate policy and implementation. The bank holds a strong position in the CAMEL rating published by Bangladesh Bank in the recent years.
Vision of the Bank
“A Bank with a Difference” is the motto of Prime Bank Limited. So the motto itself is self-explanatory to deliver the vision of the bank. Prime Bank limited is prepared to meet the challenge of the 21st century well ahead of time. To cope with the challenge of the new millennium it hired experienced and well-reputed banker of the country from the inception. The bank has efficient and dedicated professionals and equipped with modern technology to provide the best service in the need of the people and thus to realize its vision. So the Bank defined:
Vision: “To be the most efficient Bank in terms of customer service profitability and technology application.”
Mission: “Continuous improvement in our business policies and procedures, cost reductions through integration of technology at all levels.”
Focus of Efforts: “on delivery of quality service in all areas of banking activities with the aim to add increased value to shareholders’ investment and offer highest possible benefits to our customers”
Strategic Priorities: “To have sustained growth, broaden and improve range of products and services”
Objective of the Bank
The objective of the Prime Bank Limited is specific and targeted to its vision and to position itself in the mind-set of the people as ‘a bank with difference’. The objectives of the Prime Bank Limited are as follows:
* To mobilize the savings and channelling it out as loan or advance as the company approve.
* To establish, maintain, carry on, transact and undertake all kinds of investment and financial business including underwriting, managing and distributing the issue of stocks, debentures, and other securities.
* To finance the international trade both in import and export.
* To carry on the foreign exchange business, including buying and selling of foreign currency, traveller’s cheques issuing, international credit card issuance etc.
* To develop the standard of living of the limited income group by providing Consumer Credit.
* To finance the industry, trade and commerce in both the conventional way and by offering customer friendly credit service.
* To encourage the new entrepreneurs for investment and thus to develop the country’s industry sector and contribute to the economic development.
Fairness, Transparency, Accountability and Responsibility are the minimum standard of acceptable corporate behaviour today. At PBL, corporate governance means increasing...