NCC Bank diversifies activities
Monday, 27 August 2007
FE Report
NCC Bank Ltd, a leading private commercial bank (PCB), has diversified its activities in areas like agro-financing, stock brokerage, primary dealership, credit cards and corporate social responsibilities (CSR).
"We have a strong commitment for our clients and that's why we like to strengthen the bonds and facilitate the growth of the economy through diversifying activities while we keep in mind that we are serving the nation for 15 long years," managing director of the bank Md Nurul Amin told the FE.
He said the bank has taken a move to finance soybean cultivation in Lakhsmipur district.
In another move, the bank will expand the financing of perfume production in Baralekha upazila in Moulvibazar district.
The bank has already earned reputation for successful implementation of agricultural project in the country's northern districts through Doel Agro Products.
"This project helped us explore new avenue of lending. We have extended banking facility to a remote northern Bangladesh district," Nurul Amin said.
In calendar 2006, the bank disbursed Tk 8.93 billion loan in industrial sector, Tk 2.18 billion in construction sector, Tk 831.05 million in transport and communication sector and Tk 202.10 million in agriculture sector.
The bank disbursed 10 per cent cash and 12.50 per cent stock dividend for its shareholders for the year ended December 31, 2006.
NCC Bank grabbed 12th position among the most active brokerage houses of Dhaka Stock Exchange (DSE) in July and 10th position in June this year.
"Stock market operation is a key area and we would like to strengthen our brokerage service activities through expanding the network in major cities of the country," the NCC Bank chief executive said.
The bank's net profit and operating profit in 2006 jumped to Tk 479.22 million and Tk 1.26 billion against Tk 352.08 million and Tk 1.01 billion respectively in 2005.
The earning per share of the bank in 2006 also rose to Tk 39.88 from Tk 36.11 in 2005.
The NCC Bank made arrangements with a number of exchange houses abroad in 2006 and is going to expand the network in near future.
"These arrangements have brought significant development in remittance business of the bank," the NCC Bank MD said.
The bank received about $ 53.00 million as remittance from Non-Resident Bangladeshis (NRBs) in 2006.
The bank handled export and import business worth Tk 8.55 billion and Tk 17.64 billion respectively in 2006 and 2005.
In response to the growing need of corporate social responsibility (CSR) in the country's economy, the bank has already established 'NCC Bank Foundation' to contribute more in the area.
The second generation PCB began its journey with 16 branches on May 17, 1993.
Now the bank has 49 branches across the country and a few more will be opened by the end of this year.
NCC Bank Ltd, a leading private commercial bank (PCB), has diversified its activities in areas like agro-financing, stock brokerage, primary dealership, credit cards and corporate social responsibilities (CSR).
"We have a strong commitment for our clients and that's why we like to strengthen the bonds and facilitate the growth of the economy through diversifying activities while we keep in mind that we are serving the nation for 15 long years," managing director of the bank Md Nurul Amin told the FE.
He said the bank has taken a move to finance soybean cultivation in Lakhsmipur district.
In another move, the bank will expand the financing of perfume production in Baralekha upazila in Moulvibazar district.
The bank has already earned reputation for successful implementation of agricultural project in the country's northern districts through Doel Agro Products.
"This project helped us explore new avenue of lending. We have extended banking facility to a remote northern Bangladesh district," Nurul Amin said.
In calendar 2006, the bank disbursed Tk 8.93 billion loan in industrial sector, Tk 2.18 billion in construction sector, Tk 831.05 million in transport and communication sector and Tk 202.10 million in agriculture sector.
The bank disbursed 10 per cent cash and 12.50 per cent stock dividend for its shareholders for the year ended December 31, 2006.
NCC Bank grabbed 12th position among the most active brokerage houses of Dhaka Stock Exchange (DSE) in July and 10th position in June this year.
"Stock market operation is a key area and we would like to strengthen our brokerage service activities through expanding the network in major cities of the country," the NCC Bank chief executive said.
The bank's net profit and operating profit in 2006 jumped to Tk 479.22 million and Tk 1.26 billion against Tk 352.08 million and Tk 1.01 billion respectively in 2005.
The earning per share of the bank in 2006 also rose to Tk 39.88 from Tk 36.11 in 2005.
The NCC Bank made arrangements with a number of exchange houses abroad in 2006 and is going to expand the network in near future.
"These arrangements have brought significant development in remittance business of the bank," the NCC Bank MD said.
The bank received about $ 53.00 million as remittance from Non-Resident Bangladeshis (NRBs) in 2006.
The bank handled export and import business worth Tk 8.55 billion and Tk 17.64 billion respectively in 2006 and 2005.
In response to the growing need of corporate social responsibility (CSR) in the country's economy, the bank has already established 'NCC Bank Foundation' to contribute more in the area.
The second generation PCB began its journey with 16 branches on May 17, 1993.
Now the bank has 49 branches across the country and a few more will be opened by the end of this year.