BRAC Bank Limited

BRAC Bank is a private commercial bank in Bangladesh, operated by the BRAC development organisation, focused on Small and Medium Enterprises (SME). The bank has its head office in Dhaka, Bangladesh. It has 186 branches and 50 agent banking outlets and 448 ATM's as of 31 December 2018.

BRAC Bank Limited
TypePublic Limited
DSE: BRACBANK
IndustryFinancial Services Banking
Founded4 July 2001 (2001-07-04)
Headquarters220/B Gulshan Tejgaon Link Road, Dhaka 1208
Dhaka, Bangladesh
Number of locations
186 branches
Key people
Sir Fazle Hasan Abed KCMG, Chairman
Mr. Selim RF Hussain, Managing Director & CEO [1]
৳9.393 billion (US$110 million) (2018)
৳5.67 billion (US$67 million) (2018)
Total assets ৳358.005 billion (US$4.2 billion) (2018)
Number of employees
7085
ParentBRAC, IFC
SubsidiariesbKash Ltd.
BRAC Saajan Exchange Ltd.
BRAC EPL Investments Ltd.
BRAC EPL Stock Brokerage Ltd.
Websitewww.bracbank.com
Footnotes / references
[2]

History

BRAC Bank was founded on 4 July 2001 to reach the large number of unbanked people which were not covered by traditional bank. The main concept of the bank was to facilitate Small and Medium Enterprises (SME).[3]

Financial services
  • SME Banking
  • Retails Banking
  • Card Service (Credit & Debit)
  • BRAC Bank Limited is one of the leaders in the Bangladesh credit card industry. The Bank is striving to become the high card issuer in Bangladesh’s Card industry. BRAC Bank Have, Signature Credit card, Platinum Credit card, Gold Credit Card, Silver Credit card.
  • Foreign Exchange & Related Services
  • Wholesale Banking & Custodial Service
  • Probashi Banking

Distribution network
  • Branch : 187 (October 2019)
  • SME Unit Office : 457
  • Remittance Delivery Point : 1800 [4]
  • ATM Booth : 447

Subsidiaries

The subsidiaries are[5]

  • BRAC EPL Investments Limited
  • BRAC EPL Stock Brokerage Limited
  • bKash (Mobile banking service) Limited
  • BRAC Saajan Exchange Limited
  • BRAC IT Services Limited

ATM network

BRAC Bank has its own ATM network which is currently 457. In addition to this BRAC Bank is the lead arranger of OMNIBUS shared ATM network.

OMNIBUS, an association of member institutions, which will provide shared ATM and POS network facilities to banks through a neutral mother switch. OMNIBUS was formed as a result of a need for a neutral and centralized gateway. And as a result BRAC Bank took the initiative. And with BRAC Bank, Q-Cash came forward with its members to join hands to form OMNIBUS.[6]

Cricket Sponsorship

The bank is the official kit sponsor for the Bangladesh national cricket team, Under-19 cricket team, Bangladesh women cricket team for the period of 2018 to 2020, meanwhile the organisation is the kit partner for the team since 2016 and renewed their term until January 2020 [7]

See also

References
  1. Selim RF Hussain joins Brac Bank as its MD
  2. "Annual Report 2018" (PDF). Retrieved 26 April 2020.
  3. "BRAC Bank Limited – Banglapedia". en.banglapedia.org. Retrieved 8 May 2016.
  4. Weber, Olaf (2011). "Products and Services". In Weber, Olaf; Remer, Sven (eds.). Social Banks and the Future of Sustainable Finance. Routledge. Box 5.7. ISBN 978-1-136-80444-1.
  5. "BRAC Bank Limited :: Knowing BRAC Bank » Company Profile » Corporate Vision, Mission & Values". www.bracbank.com. Retrieved 8 May 2016.
  6. "Welcome to OMNIBUS". Archived from the original on 14 February 2014. Retrieved 7 May 2014.
  7. "BRAC Bank becomes the Kit Partner of National Cricket Team for 2 more years Tigers continue to sport the BRAC Bank logo", BRAC Bank, 11 September 2018
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