Bangladesh Development Bank

Bangladesh Development Bank (Bengali: বাংলাদেশ ডেভেলপমেন্ট ব্যাংক লিমিটেড,বিডিবিএল) is a state owned specialized commercial bank in Bangladesh. The bank came into effect with the merger of ailing Bangladesh Shilpa Bank and Shilpa Rin Sangstha, which were established in 1972 to provide loans and facilities to industrial units, help set up new industries and expand investment in Bangladesh.[1]

BDBL Bhaban, 8 Rajuk Avenue, Dhaka 1000,Head Office, Dhaka.
Bangladesh Development Bank Limited
TypeState owned bank
IndustryDevelopment Bank
Bank
Capital Markets and allied industries
FoundedDhaka, 16 November 2009
Number of locations
46
Key people
ProductsRetail banking, Private banking, Corporate Banking, Deposits, Mortgage loan, Savings Scheme, Sanchay Scheme, Trade and Retail Forex
Total assets৳54.55 billion (US$650 million)
Number of employees
About 775
ParentGovernment of Bangladesh (100%)
Websitewww.bdbl.com.bd

Financial services

The bank offers a variety of services, including Commercial Banking, SME Banking, and Developmental Banking.

History

Bangladesh Development Bank was established on 16 November 2009 as a Public Limited Company by merging the state owned Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha, both which were established on 31 October 1972.[2][3] Bangladesh Development Bank started in 2010 with 534 court cases concerning 21 billion taka and 24.6 billion taka in written off liabilities.[4]

The bank has had issues with loan defaulting, as of 2018, the total defaulted loans at the bank stood at 23.32 billion taka.[5] On 11 June 2019, the Anti-Corruption Commission sued for officials of the bank for allegedly embezzling 250 million taka from the bank.[6]

Financial services

The bank offers a variety of services, including Commercial Banking, SME Banking, and Developmental Banking.

Branches

There are currently 46 branches of BDBL banking across the country. The bank provides all kinds of commercial banking services to its customers through its 46 branch network in the country. The 46th branch of Bangladesh Development Bank Limited (BDBL) has been inaugurated at Tamalatla Bazar in Bagatipar, Natore.[7] Bangladesh Development Bank Limited (BDBL) operates online banking activities. BDBL SWIFT Code is BDDBBDDH.

Technological banking

CBS has begun on-line banking activities to control banking transactions as well as overall operations from the beginning of July 2015. Besides, all transactions are done through core banking software from any branch of BDBL, through Bangladesh Automated Check Clearing House (Batch). Inter-bank transactions of the kind are settled. Next is the inter-banking transaction across the country Under the Naden Bangladesh Electronic Funds Transfer Network (BEFTN) or 'Electronic Funds Transfer System', inter-bank electronic debit-credit transaction process is performed smoothly and fastest from any bank branch without any charges or fees at any time. Rapid and risk-free solutions using real time gross settlement (RTGS) From anywhere in the country amounts to one million or more to immediate payment. The fastest repayment of the inter-bank payment system is through RTGS. Customers and banks from anywhere in the world are able to make this transaction.

Management

The managing director controls the overall activities of the bank. The Managing Director is assisted by the General Manager and Department Heads working at the central office. Bank branch managers report the activities related to the matter directly to the managing director and to the department head. According to Article 95 of the Articles of Association of the Bank, there shall be a ten-member board of directors with the chairman as its chairman. The current chairman of the board of directors is former senior secretary Mohammad Mejbahuddin.[8]

Awards

BDBL obtained third prize as the Best Corporate in the Banking Sector (State-owned Commercial Bank) given by The Institute of Cost and Management Accountants of Bangladesh in its Best Corporate Award-2014.[9]

References
  1. "Development Bank takes off". The Daily Star. Retrieved 4 January 2010.
  2. "BDBL | Objectives". www.bdbl.com.bd. Archived from the original on 2014-09-07. Retrieved 2019-08-03.
  3. "Bangladesh Development Bank starts journey Jan 3". The Daily Star. 2009-12-08. Retrieved 2019-08-03.
  4. "Development Bank takes off". The Daily Star. 2010-01-04. Retrieved 2019-08-03.
  5. "A loan defaulting epidemic: Over two lakh privileged institutions!". The Daily Star. 2018-09-18. Retrieved 2019-08-03.
  6. "4 BDBL officials sued for embezzling Tk 25cr". The Daily Star. 2019-06-11. Retrieved 2019-08-03.
  7. "Mohammad Mejbahuddin, Chairman of Bangladesh Development Bank Ltd, inaugurating the bank's 46th branch at Bagatipara in Natore recently. Bank's Managing Director Kazi Alamgir, General Manager Md Abdul Baki and Deputy Commissioner Mohammad Shah Riaz, among others, were present". thedailynewnation. Retrieved December 28, 2019.
  8. "Chairman of Board of Directors of BDBL and former senior secretary Mohammad Mejbahuddin". the financial express. Retrieved 2019-09-02.
  9. "ICMAB Best Corporate Awards-2014". ICMAB. Retrieved 20 January 2015.
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