NCC Bank eyes white-collar expatriates
Monday, 17 May 2010
FE Report
NCC Bank has taken a move to enhance the remittance in-flow in the country targeting the white-collar expatriates of Bangladesh.
"A hefty amount of remittance worth $ 10 billion has been received in recent years but the money mostly came from low-income earners living abroad," M Nurul Amin, managing director of NCC Bank said while addressing a press conference on the occasion of 17 years of the bank Sunday.
The Bank now eyes the white-collar expatriates and in support of its efforts, the bank has already encouraged them to buy government bonds and securities.
"Naturally, we can hope that if the move succeeds, the remittance in-flow will increase many fold," Mr Nurual Amin said.
The bank channelled remittance worth $ 200 million in 2009.
He said that the Bank recently opened the door of Japan to receive remittances from that country.
Highlighting the future outlook of the bank, he said the number of branches will rise to 75 from existing 67 by the end of this year.
"Similarly the number of ATMs will rise to 25," he said.
The Bank chairman Yakub Ali Montu, vice chairman Harun-ur-Rashid MP, Director Khairul Alam Chaklader were present on the occasion.
The NCC Bank will start the operations of two new subsidiaries- NCCB Capital Ltd and NCCB Securities and Services Ltd-shortly.
"Our stock market operations will be strengthened, once the operations of the two new entities start functioning," the MD said.
Replying to a question, the MD said NCC Bank will contribute more in solving the nagging power crisis of the country.
"We have already invested Tk 3.23 billion in the power sector and are in talks to invest in solar and renewable energy areas," Mr Nurul Amin said.
NCC Bank has taken a move to enhance the remittance in-flow in the country targeting the white-collar expatriates of Bangladesh.
"A hefty amount of remittance worth $ 10 billion has been received in recent years but the money mostly came from low-income earners living abroad," M Nurul Amin, managing director of NCC Bank said while addressing a press conference on the occasion of 17 years of the bank Sunday.
The Bank now eyes the white-collar expatriates and in support of its efforts, the bank has already encouraged them to buy government bonds and securities.
"Naturally, we can hope that if the move succeeds, the remittance in-flow will increase many fold," Mr Nurual Amin said.
The bank channelled remittance worth $ 200 million in 2009.
He said that the Bank recently opened the door of Japan to receive remittances from that country.
Highlighting the future outlook of the bank, he said the number of branches will rise to 75 from existing 67 by the end of this year.
"Similarly the number of ATMs will rise to 25," he said.
The Bank chairman Yakub Ali Montu, vice chairman Harun-ur-Rashid MP, Director Khairul Alam Chaklader were present on the occasion.
The NCC Bank will start the operations of two new subsidiaries- NCCB Capital Ltd and NCCB Securities and Services Ltd-shortly.
"Our stock market operations will be strengthened, once the operations of the two new entities start functioning," the MD said.
Replying to a question, the MD said NCC Bank will contribute more in solving the nagging power crisis of the country.
"We have already invested Tk 3.23 billion in the power sector and are in talks to invest in solar and renewable energy areas," Mr Nurul Amin said.