Jamuna Bank forays into new businesses
Sunday, 5 December 2010
FE Report
Jamuna Bank Ltd will start brokerage operation by the end of this month (December) as part of its business diversification.
"We are set to foray into stock brokerage business through 'panel brokers' as we recently obtained merchant banking licence from the Securities and Exchange Commission (SEC)," Managing Director of the bank Md Motior Rahman told the FE in an interview.
The new generation bank also obtained a membership from Chittagong Stock Exchange (CSE) to fortify its business in the growing stock market of the country.
The bank will also open 'exchange houses' to boost the earnings from remittance in UK and Singapore within the next three months.
The bank began its operation on June 3, 2001 and has 61 branches so far.
"By the end of this month, we will have a total of 66 branches with a focus on SME and online banking," Md Motior Rahman added.
He said all the business indicators of the bank showed an upward trend till November 30, 2010.
The Bank achieved strong position in all key areas covering capital adequacy, assets quality, sound management, good earnings and strong liquidity during the period.
The deposit, loans, import, export and profit of the bank registered 50 per cent, 70 per cent, 30 per cent, 45 per cent and 35 per cent growth respectively during the period ended November 30, 2010 against the corresponding period of the last year.
The deposit and loans stood at Tk 56 billion and Tk 50 billion respectively during the period ended November 30, 2010.
On the other hand, classified loan declined to 1.82 per cent during the same period against 2.78 per cent of last year.
The chief executive of the third generation bank said: We have maintained a well-diversified portfolio from the big corporate houses to the micro areas so that the economic activities cannot remain confined, rather it spreads all over the country bringing the teeming millions under economic mobility.
He said the bank has as many as 32 deposit schemes and three new products for senior citizens, students and house-wives will hit the market soon.
The Managing Director said he was optimistic that Jamuna Bank will play a vital role in creating adequate employment opportunities, income generation and poverty alleviation.
He said Jamuna Bank has been contributing to the national economy through financing in the industrialisation process of the country in tandem with the gradual expansion of the overall business.
The paid-up capital and total capital of the bank stood at Tk 3.65 billion and Tk 4.73 billion respectively.
The bank, one of the best performers in corporate social responsibility (CSR) will take more projects on the area.
Mr Motior said the bank will establish a centre for old persons at Keranigonj very soon.
"It is our new scheme in the areas of CSR which will take care of old persons," Mr Motior added.
Under another CSR, the Jamuna Bank will establish a hospital at Rupganj very soon.
Under the existing CSR of the bank, poor students get financial support to continue their studies.
"Anti-drug campaign is our another strong CSR area which reflects our commitment to our society and economy," the Jamuna Bank MD said.
The Bank has an eye hospital where 10,000 poor patients now get treatment without any fee every year.
Jamuna Bank Ltd will start brokerage operation by the end of this month (December) as part of its business diversification.
"We are set to foray into stock brokerage business through 'panel brokers' as we recently obtained merchant banking licence from the Securities and Exchange Commission (SEC)," Managing Director of the bank Md Motior Rahman told the FE in an interview.
The new generation bank also obtained a membership from Chittagong Stock Exchange (CSE) to fortify its business in the growing stock market of the country.
The bank will also open 'exchange houses' to boost the earnings from remittance in UK and Singapore within the next three months.
The bank began its operation on June 3, 2001 and has 61 branches so far.
"By the end of this month, we will have a total of 66 branches with a focus on SME and online banking," Md Motior Rahman added.
He said all the business indicators of the bank showed an upward trend till November 30, 2010.
The Bank achieved strong position in all key areas covering capital adequacy, assets quality, sound management, good earnings and strong liquidity during the period.
The deposit, loans, import, export and profit of the bank registered 50 per cent, 70 per cent, 30 per cent, 45 per cent and 35 per cent growth respectively during the period ended November 30, 2010 against the corresponding period of the last year.
The deposit and loans stood at Tk 56 billion and Tk 50 billion respectively during the period ended November 30, 2010.
On the other hand, classified loan declined to 1.82 per cent during the same period against 2.78 per cent of last year.
The chief executive of the third generation bank said: We have maintained a well-diversified portfolio from the big corporate houses to the micro areas so that the economic activities cannot remain confined, rather it spreads all over the country bringing the teeming millions under economic mobility.
He said the bank has as many as 32 deposit schemes and three new products for senior citizens, students and house-wives will hit the market soon.
The Managing Director said he was optimistic that Jamuna Bank will play a vital role in creating adequate employment opportunities, income generation and poverty alleviation.
He said Jamuna Bank has been contributing to the national economy through financing in the industrialisation process of the country in tandem with the gradual expansion of the overall business.
The paid-up capital and total capital of the bank stood at Tk 3.65 billion and Tk 4.73 billion respectively.
The bank, one of the best performers in corporate social responsibility (CSR) will take more projects on the area.
Mr Motior said the bank will establish a centre for old persons at Keranigonj very soon.
"It is our new scheme in the areas of CSR which will take care of old persons," Mr Motior added.
Under another CSR, the Jamuna Bank will establish a hospital at Rupganj very soon.
Under the existing CSR of the bank, poor students get financial support to continue their studies.
"Anti-drug campaign is our another strong CSR area which reflects our commitment to our society and economy," the Jamuna Bank MD said.
The Bank has an eye hospital where 10,000 poor patients now get treatment without any fee every year.