Quality banking service assured****
Tuesday, 17 May 2011
FE Report
NCC Bank Limited has taken a good number of steps on improving and expanding its service areas through adopting modern banking technologies and opening more branches and ATM booths. "We are giving priority banking based on mobile phones to distribute and collect loans in a bid to reduce loan management cost," Mohammed Nurul Amin, managing director and chief executive officer of NCC Bank said Monday. Mr Amin was speaking at a press conference on the occasion of completing 18 years of the bank which started its journey as a commercial bank on May 17, 1993 at its head office in the capital city. To expand the service areas, the bank will add more eight branches with its 81 existing branches across the country, he said adding two branches have been opened in Feni and Barisal in 2010. Explaining the bank's contribution to SME sector, he said Tk 3.0 billion has been distributed in the sector in 2010 and targeted Tk 3.50 billion to be distributed in 2011 to develop the country's promising SME sector. "We have encouraged area and cluster based approaches which make us different from other banks and financial institutions," the NCC bank MD said. The bank has already distributed Tk 270 million in the agricultural sector from its target of Tk 320 million for the year of 2010-11 fiscal year. NCC Bank follows area approach to distribute the agricultural loan considering specialised crops of an area, Mr Amin said adding his bank is planning to include spices, onion, garlic, wheat, potato and jute in near future in its crops loan. "We are also planning to expand our loan programmes for buying irrigation, harvesting and crushing machineries," he said. We want to increase our agri-loan to the areas where there is no branches of the bank through using non-government organisations (NGO) linkage, he said adding such activities are already in operation through four large NGOs. The bank is providing loan at a lower interest rate to develop handloom industry at Tangail, small garment industry at Syedpur and footwear industry at Rajshahi to boost the country's SME sector. "NCC Bank is the first that has taken initiative to bring remittance through direct banking channel from Japan," Mr Nurul Amin said. Remittance is being distributed through 250 branches of Thengamara Mohila Sabuj Sangha (TMSS) -- a large NGO -- along with bank's branches, he said adding this service will become more easy across the country through more 271 branches of TMSS. "And a memorandum of understanding will be signed with a bank to ease the distribution." "Procedures are going on to start mobile remittance service," he said adding $190.22 million remittance was received in 2010 while it stood $73.78 million in April this year. A total of 10,000 credit cards are now used by the NCC Bank clients while the bank hopes the number will cross 15,000 this year. Vice Chairman Md Harunur Rashid, Additional Managing Director Golam Hafiz Ahmed, Deputy Managing Directors AK Md Siddique, Mohabbat Khan and TM Faruque Chowdhury of the bank, among others, were present at the press brief. Authorized capital of the bank stood at Tk 10,000 million in 2010 from Tk 2,500 million in 2008, according to the bank's official statement. Its paid up capital stood at Tk 5941.65 million in 2010 up from Tk 1757.62 million in 2008 and classified loan ratio is 2.27 per cent in 2010 while it was 4.14 per cent in 2008. In 2010 earning per share of the bank stood Tk 5.33 while it was Tk 7.53 in 2009 and Tk 5.02 in 2008.
NCC Bank Limited has taken a good number of steps on improving and expanding its service areas through adopting modern banking technologies and opening more branches and ATM booths. "We are giving priority banking based on mobile phones to distribute and collect loans in a bid to reduce loan management cost," Mohammed Nurul Amin, managing director and chief executive officer of NCC Bank said Monday. Mr Amin was speaking at a press conference on the occasion of completing 18 years of the bank which started its journey as a commercial bank on May 17, 1993 at its head office in the capital city. To expand the service areas, the bank will add more eight branches with its 81 existing branches across the country, he said adding two branches have been opened in Feni and Barisal in 2010. Explaining the bank's contribution to SME sector, he said Tk 3.0 billion has been distributed in the sector in 2010 and targeted Tk 3.50 billion to be distributed in 2011 to develop the country's promising SME sector. "We have encouraged area and cluster based approaches which make us different from other banks and financial institutions," the NCC bank MD said. The bank has already distributed Tk 270 million in the agricultural sector from its target of Tk 320 million for the year of 2010-11 fiscal year. NCC Bank follows area approach to distribute the agricultural loan considering specialised crops of an area, Mr Amin said adding his bank is planning to include spices, onion, garlic, wheat, potato and jute in near future in its crops loan. "We are also planning to expand our loan programmes for buying irrigation, harvesting and crushing machineries," he said. We want to increase our agri-loan to the areas where there is no branches of the bank through using non-government organisations (NGO) linkage, he said adding such activities are already in operation through four large NGOs. The bank is providing loan at a lower interest rate to develop handloom industry at Tangail, small garment industry at Syedpur and footwear industry at Rajshahi to boost the country's SME sector. "NCC Bank is the first that has taken initiative to bring remittance through direct banking channel from Japan," Mr Nurul Amin said. Remittance is being distributed through 250 branches of Thengamara Mohila Sabuj Sangha (TMSS) -- a large NGO -- along with bank's branches, he said adding this service will become more easy across the country through more 271 branches of TMSS. "And a memorandum of understanding will be signed with a bank to ease the distribution." "Procedures are going on to start mobile remittance service," he said adding $190.22 million remittance was received in 2010 while it stood $73.78 million in April this year. A total of 10,000 credit cards are now used by the NCC Bank clients while the bank hopes the number will cross 15,000 this year. Vice Chairman Md Harunur Rashid, Additional Managing Director Golam Hafiz Ahmed, Deputy Managing Directors AK Md Siddique, Mohabbat Khan and TM Faruque Chowdhury of the bank, among others, were present at the press brief. Authorized capital of the bank stood at Tk 10,000 million in 2010 from Tk 2,500 million in 2008, according to the bank's official statement. Its paid up capital stood at Tk 5941.65 million in 2010 up from Tk 1757.62 million in 2008 and classified loan ratio is 2.27 per cent in 2010 while it was 4.14 per cent in 2008. In 2010 earning per share of the bank stood Tk 5.33 while it was Tk 7.53 in 2009 and Tk 5.02 in 2008.