The National Credit and Commerce (NCC) Bank Limited seeks to further expand its digital footprint in the market with intent to make its services suitable for tech-savvy younger generation.
To cater to the demand of a demographic change, the bank that started operations in 1993 continues to expedite its business transformation.
NCC Bank cherishes its broader target of becoming one of the top five technologically advanced banks in the growing economy in a span of next five years.
NCC Bank Managing Director and CEO Mohammad Mamdudur Rashid shared his insights alongside the bank's current and future plan in an interview with the FE ahead of the bank's 30th founding anniversary today (Wednesday).
Mr Rashid said NCC Bank is a mid-size bank in terms of its portfolio, business volume, network and physical presence. To become a leading digital bank, it needs to do new things and make more investment.
"That's what we're trying to do as a team that is thinking out of the box," said the top executive of the country's key commercial bank.
He said the bank has its limitations of physical presence but it seeks to take banking services to the doorsteps of valued clients through using either technology or thinking differently.
Highlighting availability of ATM service a part for quick expansion of the service, Mr Rashid said they have a total of 152 ATMs across the country, which is not enough.
If the bank goes for more installation of ATMs (automated teller machines), it will involve a huge capital investment.
"So, we take a different approach to this end. Our board has decided to make ATM transactions free. It means 13,000 ATMs across the country will be available for our customers free of charge. We'll implement it very soon," cited Mr Rashid.
Bangladesh is blessed with a young demographic compared to many other countries and the younger population is habituated to technology and more open to embrace new technologies, he said.
"We can't attract them to traditional banking. So, we need such transformation. In fact, NCC Bank wants to take the service to the level so that younger people can feel much comfort to bank with us."
As NCC Bank is focusing more on application of technology for faster serving its client base, a global business magazine recently awarded it under 'best use of technology' and 'fastest-growing digital transformation' categories.
According to Mr Rashid, his bank has been investing in building partnership through which it is expanding services to a wider number of people.
Elaborating a partnership mechanism for receiving more remittance, he said they have some 2,500 cash pickup points countrywide despite having 131 branches and sub-branches.
"How did we do that? The answer is we did partnership with those who have large-scale physical presence," the CEO told the FE.
NCC Bank partnered with TMSS, Rajshahi Krishi Unnayan Bank (RAKUB), Ansar VDP Bank and Probashi Kallyan Bank, which have large numbers of branches together.
"This is how we're expanding our cash pickup points without expanding our branches," said Mr Rashid.
Although the NCC Bank is mid-size in nature, it deals with a large volume of treasuries.
As a result, the Bangladesh Bank recognised this conventional bank as the country's best primary dealer in three consecutive quarters in 2022.
The NCC Bank started life in the financial sector as an investment company back in 1985 before converting into a full-fledged private commercial bank in 1993 with a paid-up capital of Tk 390 million.
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