BRAC Bank celebrates 14th anniversary

BRAC Bank Limited has completed 14 years of inclusive banking with the promise of unshakable trust.

"In 2001, Sir Fazle Hasan Abed, our founder Chairman and Chairperson of BRAC embarked upon a journey of financial inclusivity to serve the Small and Medium Entrepreneurs of Bangladesh. This segment of hardworking and industrious visionaries did not have access to collateral-free financing from traditional financial institutions. They were the missing middle or the unbanked segment," a statement of the bank said Saturday.

On this auspicious occasion, Syed Mahbubur Rahman, Managing Director & CEO, said, "BRAC Bank was the only bank founded with a vision of financing the unbanked SME entrepreneurs. In this journey, the bank has fulfilled SME dreams by disbursing loans of more than BDT 280 billion (28,000 crore) to over 0.5 million SME entrepreneurs - more than 90 per cent being collateral-free.  And today BRAC Bank proudly stands as the provider of 40 per cent of the country's total collateral-free SME financing. With the trust of customers, I am certain we will cross new milestones of financial inclusion in the coming days."

BRAC Bank is a family of more than 1.7 million enterprising customers banking through 166 branches, more than 350 ATMs and 458 SME Unit Offices. Along with the five subsidiaries, BRAC Bank is one of the biggest financial service providers in the country in terms of number of people served.

Adopted as a household name today, bKash Limited, a mobile banking subsidiary of BRAC Bank, alone provides mobile banking services to more than 17 million people. It continues its march with the inclusive banking model to take banking services to the unbanked segments as envisioned by Sir Fazle Hasan Abed.

On the occasion of 14th anniversary, BRAC Bank recognised its longest serving employees of the bank in a ceremony.