Prime Bank PLC.

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Prime Bank
Company typePublic limited company
DSE: PRIMEBANK
CSE: PRIMEBANK
IndustryBanking
Founded1995; 29 years ago (1995) in Dhaka, Bangladesh
Headquarters
Dhaka
,
Bangladesh
Key people
Tanjil Chowdhury (Chairman)
Md. Shahadat Hossain (Vice Chairman)
Nazma Haque (Vice Chairman)
Hassan O Rashid (CEO & MD)
RevenueIncreaseUSD $ 239.42 million (2022)
IncreaseUSD $ 36.57 million (2022)
Total assetsIncreaseUSD $ 3,940.09 million (2022)
Number of employees
2,927 including 701.76 female employees (as of August 2023)[1]
Websitewww.primebank.com.bd

Prime Bank PLC. is a public limited commercial bank in Bangladesh with its headquarters in Dhaka.[2][3][4][5] With 146 branches and 170 ATM the bank has operation in corporate, consumer, MSME and sustainable banking.[6] Tanjil Chowdhury, managing director of East Coast Group, is chairman of Prime Bank.

History

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Prime Bank was created and commencement of business started on 17 April 1995.[2] Islamic Banking operations of Prime Bank Limited started in the year 1995 through the opening of Islamic banking branch at Dilkusha, Dhaka. The operations of the Islamic banking supervised by Prime Bank Shari’ah Supervisory Committee.[7] It was incorporated under the Companies Act of 1994.[2] The founders of the bank include Azam J Chowdhury, chairman of East Coast Group.[8]

The Bank is traded at the Dhaka Stock Exchange and Chittagong Stock Exchange.[2][9] The bank donated 2 million taka for the Wari-Bateshwar archeological site excavation in May 2008.[10] In February 2009, Bangladesh Bank issued a show cause notice to former top management of the bank, former chairman Salimul Haq and former managing director M Shahjahan Bhuiyan, for irregular transactions during the 2001-2006 Bangladesh Nationalist Party government rule.[11]

Prime Bank is the title sponsor of the 2013 edition of Bangladesh Premier League cricket tournament.[12] They are also the owners of Prime Bank Cricket Club. In July 2014, Anti-Corruption Commission sued eleven staff of the bank who had embezzled 926.5 million taka from customers using forged papers.[13]

Azam J Chowdhury was reelected chairman of the bank in June 2018.[14]

In 2020, Prime Bank has launched women banking facilities called Neera. This banking includes products that help unbankned women achieve financial freedom and independence.[15] Prime Bank has a countrywide programme to drive financial literacy among the unbanked women of the society.[16]

In October 2021, the bank received 30 million dollar funding from British International Investment.[17]

Prime Bank issued 6 billion taka in bonds in October 2022.[18] The April to June quarter saw the bank earning increase by 42 per cent.[19]

Subsidiaries

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  • Prime Exchange Co. Pte (Singapore) Ltd
  • PBL Finance (Hong Kong) Limited[20]
  • Prime Bank Foundation[21]
  • Prime Bank Securities Limited

References

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  1. ^ "Annual Report 2020: Harnessing Potential" (PDF). Prime Bank. Archived from the original (PDF) on 15 August 2021.
  2. ^ a b c d "Prime Bank Limited". Banglapedia. Retrieved 2016-05-09.
  3. ^ "Prime Bank to diversify loan portfolios to growing sectors". The Financial Express. Dhaka. 16 April 2016. Retrieved 2022-03-17.
  4. ^ "Prime Bank holds business conference". The Daily Star. 2003-01-21. Retrieved 2016-05-09.
  5. ^ "Top five uncapped players to watch out for". Dhaka Tribune. Retrieved 2016-05-09.
  6. ^ "Primebank.bd | Prime Bank Ltd. Financial Statements". The Wall Street Journal. Retrieved 2021-07-27.
  7. ^ "Prime Bank launches Hasanah". The Daily Star. 2008-08-14. Retrieved 2016-05-09.
  8. ^ "Prime Bank Limited". www.primebank.com.bd. Retrieved 2023-01-10.
  9. ^ "Prime Bank celebrates 15th anniversary". The Daily Star. 2010-04-17. Retrieved 2016-05-09.
  10. ^ "Prime Bank gives Tk 20 lakh for excavation". The Daily Star. 2008-05-13. Retrieved 2023-01-10.
  11. ^ "Ex-Prime Bank high-ups asked to show cause". The Daily Star. 2009-02-25. Retrieved 2023-01-10.
  12. ^ "Prime Bank title sponsor of BPL". The Daily Star. 2013-01-01. Retrieved 2016-05-09.
  13. ^ "Swindled by bankers". The Daily Star. 2014-07-18. Retrieved 2023-01-10.
  14. ^ "Prime Bank re-elects chairman". The Daily Star. 2018-06-05. Retrieved 2023-01-10.
  15. ^ "Prime Bank introduces 'Neera' for wellbeing of women - Women's Own". The Daily Observer. Retrieved 2021-07-19.
  16. ^ "Prime Bank NEERA's financial literacy initiative for unbanked women". The Financial Express. Dhaka. Retrieved 2021-07-27.
  17. ^ "Prime Bank secures $30m from UK dev lender". The Daily Star. 2021-10-28. Retrieved 2023-01-10.
  18. ^ "Prime Bank to issue Tk 600cr bond". The Daily Star. 2022-10-24. Retrieved 2023-01-10.
  19. ^ "Prime Bank's profit jumps over 42% in second quarter". The Daily Star. 2022-08-01. Retrieved 2023-01-10.
  20. ^ "PBL Finance (H.K) Limited". Bangladesh Chamber of Commerce & Industry Hong Kong (BCCIHK). 2020-05-18. Retrieved 2021-07-27.
  21. ^ "Prime Bank Foundation to build 500-bed hospital". The Daily Star. 2023-01-05. Retrieved 2023-01-10.
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