Dhaka Bank to further expand capital market operations
Monday, 19 November 2007
FE Report
Dhaka Bank Ltd, a leading private commercial bank (PCB), will further strengthen its operation in stock market.
"Dhaka Bank will be one of the top five brokerage houses in the stock market very soon and it is now well positioned in offering services in the securities market. It is now among the top ten," managing director of the bank, Shahed Noman told the FE in an interview.
Currently, there are three branches of the bank's 'capital market services division', one at Adamjee Court Building, one at Uttara and third one at DSE annex building in the city.
He said the bank will expand its stock market operation through opening the fourth branch at city's Dhanmondi very soon.
"Our capital market services division will be expanded in Chittagong and Sylhet early next year (2008) to cope with the growing stock market operations," the Dhaka Bank chief executive said.
According to the latest annual report, the bank's capital market services division conducted a total trade worth Tk 2.04 billion in calendar 2006 against Tk 1.16 billion in 2005.
Evaluating the last 12 years' overall services of the bank, the managing director said since its inception in 1995, Dhaka Bank Ltd has been contributing to the growth of the services, financial and industrial sectors of the country.
The growth of industries and sectors like steel and engineering, textile and garments, ship-breaking, edible oil, sugar, housing and construction, pharmaceuticals, energy and power etc. have been facilitated by the Bank's services, he said.
"In addition, we are strong in retail financing (consumer service) and SME (light engineering, handloom industries, agro-based industries, inland ship/ barge financing, personal house financing, etc.," Noman added.
Shahed Noman is a career banker of the country, who served world's top investment bank Merrill Lynch International as a Financial
Consultant between 1999 and 2002 in Geneva, Switzerland.
He joined Dhaka Bank in 2003 as the chief executive.
The bank, also a leading listed company, has Islamic Banking service facility through all the branches, which are linked with the on-line system.
"Our Global Trade Service equally provides a fast efficient remittance services for NRB's (non-Resident Bangladeshis) and thus we take part in enabling Bangladesh reach remittance over $ 6.0 billion. Our remittances come mainly from the USA, Europe and Gulf Countries," the Dhaka Bank MD said.
In 2006, the Dhaka Bank launched off-shore banking facilities for the export-oriented industries, mostly situated in various Export Promotion Zones.
"There has been a strong demand for such facilities and we have seen significant growth in our business in this area. Our Syndication and Structured Finance unit continues to play a dominant role in arranging finance for large infrastructure projects," Noman said.
The Bank allocates two per cent of its pretax profit for CSR (corporate social responsibility) schemes.
In addition to various laurels it has achieved, DBL was awarded the First Corporate Social Responsibility (CSR) Award sponsored by the Financial Express and Standard Chartered Bank in 2005 as recognition of its contribution to the society.
The Bank also received the 'International Star for Quality Award' (T Q M), first by a Bangladeshi Bank, in Geneva, Switzerland in 2006.
Commenting on further development of the securities market, the Dhaka Bank chief executive said: "We need a strong infrastructure to support the capital market so that the interests of the public are well protected. Without public confidence, the capital market will not grow."
"We also need strong issuers to provide a steady supply of instruments that people can invest in," he said adding the bourses and the government should encourage institutional investors like insurance companies, mutual funds and pension funds to provide support to the market.
The Dhaka Bank's net profit rose to Tk 580 million in 2006 from Tk 463 million in 2005.
The earning per share of the bank was Tk 36.22 in June 2007 against Tk 33.84 in June, 2006.
The bank has now 41 branches across the country.
Dhaka Bank Ltd, a leading private commercial bank (PCB), will further strengthen its operation in stock market.
"Dhaka Bank will be one of the top five brokerage houses in the stock market very soon and it is now well positioned in offering services in the securities market. It is now among the top ten," managing director of the bank, Shahed Noman told the FE in an interview.
Currently, there are three branches of the bank's 'capital market services division', one at Adamjee Court Building, one at Uttara and third one at DSE annex building in the city.
He said the bank will expand its stock market operation through opening the fourth branch at city's Dhanmondi very soon.
"Our capital market services division will be expanded in Chittagong and Sylhet early next year (2008) to cope with the growing stock market operations," the Dhaka Bank chief executive said.
According to the latest annual report, the bank's capital market services division conducted a total trade worth Tk 2.04 billion in calendar 2006 against Tk 1.16 billion in 2005.
Evaluating the last 12 years' overall services of the bank, the managing director said since its inception in 1995, Dhaka Bank Ltd has been contributing to the growth of the services, financial and industrial sectors of the country.
The growth of industries and sectors like steel and engineering, textile and garments, ship-breaking, edible oil, sugar, housing and construction, pharmaceuticals, energy and power etc. have been facilitated by the Bank's services, he said.
"In addition, we are strong in retail financing (consumer service) and SME (light engineering, handloom industries, agro-based industries, inland ship/ barge financing, personal house financing, etc.," Noman added.
Shahed Noman is a career banker of the country, who served world's top investment bank Merrill Lynch International as a Financial
Consultant between 1999 and 2002 in Geneva, Switzerland.
He joined Dhaka Bank in 2003 as the chief executive.
The bank, also a leading listed company, has Islamic Banking service facility through all the branches, which are linked with the on-line system.
"Our Global Trade Service equally provides a fast efficient remittance services for NRB's (non-Resident Bangladeshis) and thus we take part in enabling Bangladesh reach remittance over $ 6.0 billion. Our remittances come mainly from the USA, Europe and Gulf Countries," the Dhaka Bank MD said.
In 2006, the Dhaka Bank launched off-shore banking facilities for the export-oriented industries, mostly situated in various Export Promotion Zones.
"There has been a strong demand for such facilities and we have seen significant growth in our business in this area. Our Syndication and Structured Finance unit continues to play a dominant role in arranging finance for large infrastructure projects," Noman said.
The Bank allocates two per cent of its pretax profit for CSR (corporate social responsibility) schemes.
In addition to various laurels it has achieved, DBL was awarded the First Corporate Social Responsibility (CSR) Award sponsored by the Financial Express and Standard Chartered Bank in 2005 as recognition of its contribution to the society.
The Bank also received the 'International Star for Quality Award' (T Q M), first by a Bangladeshi Bank, in Geneva, Switzerland in 2006.
Commenting on further development of the securities market, the Dhaka Bank chief executive said: "We need a strong infrastructure to support the capital market so that the interests of the public are well protected. Without public confidence, the capital market will not grow."
"We also need strong issuers to provide a steady supply of instruments that people can invest in," he said adding the bourses and the government should encourage institutional investors like insurance companies, mutual funds and pension funds to provide support to the market.
The Dhaka Bank's net profit rose to Tk 580 million in 2006 from Tk 463 million in 2005.
The earning per share of the bank was Tk 36.22 in June 2007 against Tk 33.84 in June, 2006.
The bank has now 41 branches across the country.