|This article does not cite any references or sources. (September 2010)|
|Headquarters||1, Gulshan Avenue, Gulshan 1, Dhaka 1212
|Key people||Sir Fazle Hasan Abed KCMG, Chairman
Mr. Syed Mahbubur Rahman, Managing Director & CEO
|Parent||BRAC, IFC and ShoreCap International|
BRAC Bank is a private commercial bank focused on Small and Medium Enterprises founded on 4th July, 2001. The company consists of 155 branches, 400 SME unit offices, 675 Remittance Delivery Points, Over 320 ATMs and 14 Kiosks across the country. BRAC Bank is among the last few organizations to have received a commercial banking license from Bangladesh Bank. Its headquarter is based in the capital Dhaka.
The stakeholders of the bank are BRAC, the largest non-government organization in the world, International Finance Corporation, the private sector arm of The World Bank Group and ShoreCap International.
BRAC Bank practices upon a model where fund accumulated from urban deposits disseminates in the rural and uplift Small and Medium Enterprises (SME). By now it has become fourth largest SME bank globally. The company also offers Probashi banking, which specifically caters to non-resident Bangladeshis abroad. Other areas include customized treasury and foreign exchange solutions, cash management and custodial services.
Share Holdings: General Public holds through Dhaka Stock Exchange the largest portion of the shares (50%), followed by BRAC (43.77%), International Finance Corporation (5.36%), ShoreCap International Ltd (0.86%) & Others.
Achievements and Recognitions:
- Best managed Bank Award 2013 from Asian Banker
- Retail Banker Award 2011 from Asian Banker
- Best Retail Banker Award 2011 from Asian Banker
- FT-IFC Sustainable Bank of the Year 2010 (Emerging Markets, Asia)
- IFC awarded BRAC Bank as the Most Active Global Trade Finance Program (GTFP) Issuing Bank in South Asia in 2010
- Member of Global Alliance for Banking on Values (GABV)
- ICAB National Award 2009
- DHL–Daily Star Bangladesh Business Awards 2008
- NBR National Award as the Highest VAT payer for the financial year 2007-2008
- BRAC EPL Investments Limited
- BRAC EPL Stock Brokerage Ltd
- bKash (Mobile banking service) Ltd
- BRAC Saajan Exchange Limited
- BRAC IT Services Limited (BITS)
ATM Network: BRAC Bank is the lead arranger of OMNIBUS shared ATM network.
OMNIBUS, an association of member institutions, which will provide shared ATM and POS network facilities to banks through a neutral mother switch. OMNIBUS was formed as a result of a need for a neutral and centralized gateway. And as a result BRAC Bank took the initiative. And with BRAC Bank, Q-Cash came forward with its members to join hands to form OMNIBUS. Banks that have signed agreements to share OMNIBUS's ATM and POS network:
- BRAC Bank the lead arranger
- Q-CASH network Banks
- 1. Janata Bank 2. Eastern Bank 3. IFIC Bank 4. AB Bank 5. Shahjalal Islami Bank 6. Basic Bank 7. Jamuna Bank 8. Mercantile Bank 9. National Bank 10. National Credit and Commerce Bank 11. Pubali Bank 12. Sonali Bank
- 13. Trust Bank 14. Uttara Bank 15. State Bank of India 16. The City Bank 17. Social Islami Bank)
- One Bank
- United Commercial Bank
- Eastern Bank
- Dhaka Bank
- Rupali bank
- Cashlink limited network Banks (1. AB Bank 2. Agrani Bank).
- National Credit and Commerce Bank
- Bank Alfalah
- Southeast Bank
- Standard Bank
- Al-Arafah Islami Bank
- Islami Bank
- Exim Bank