BRAC Bank Limited

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BRAC Bank Limited
Public Limited
IndustryFinancial Services Banking
Founded4 July 2001
Headquarters220/B Gulshan Tejgaon Link Road, Dhaka 1208
Dhaka, Bangladesh
Key people
Sir Fazle Hasan Abed KCMG, Chairman
Mr. Selim RF Hussain, Managing Director & CEO [1]
Revenue926 crore (US$120 million)
Number of employees
8000 [2]
ParentBRAC, IFC
Websitewww.bracbank.com

BRAC Bank is a private commercial bank in Bangladesh focused on Small and Medium Enterprises (SME).

History[edit]

BRAC Bank was founded on 4 July 2001 to reach the large number of unbanked people which were not covered by traditional bank. The main concept of the bank was to facilitate Small and Medium Enterprises (SME).[3]

Financial services[edit]

  • SME Banking
  • Retails Banking
  • Card Service (Credit & Debit)
  • Foreign Exchange & Related Services
  • Wholesale Banking & Custodial Service
  • Probashi Banking

Distribution network[edit]

  • Branch : 186 (December 2017)
  • SME Unit Office : 457
  • Remittance Delivery Point : 1800 [4]
  • ATM Booth : 447
  • Apon Somoy (Financial Kiosk) : 16

Subsidiaries[edit]

The subsidiaries are[5]

  • BRAC EPL Investments Limited
  • BRAC EPL Stock Brokerage Limited
  • bKash (Mobile banking service) Limited
  • BRAC Saajan Exchange Limited
  • BRAC IT Services Limited

ATM network[edit]

BRAC Bank has its own ATM network which is currently 447. In addition to this 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.[6]

Cricket Sponsorship[edit]

The bank is the official kit sponsor for the Bangladesh national cricket team, Under-19 cricket team, Bangladesh women cricket team for the period of 2018 to 2020, meanwhile the organisation is the kit partner for the team since 2016 and renewed their term until January 2020 [7]

See also[edit]

References[edit]

  1. ^ Selim RF Hussain joins Brac Bank as its MD
  2. ^ "BRAC Bank: 12 years of banking for financial inclusion". The Financial Express. 2012. Retrieved 2012-07-04.
  3. ^ "BRAC Bank Limited – Banglapedia". en.banglapedia.org. Retrieved 2016-05-08.
  4. ^ "BRAC Bank: 12 years of banking for financial inclusion :: Financial Express :: Financial Newspaper of Bangladesh". print.thefinancialexpress-bd.com. Retrieved 2016-05-08.
  5. ^ "BRAC Bank Limited :: Knowing BRAC Bank » Company Profile » Corporate Vision, Mission & Values". www.bracbank.com. Retrieved 2016-05-08.
  6. ^ http://www.omnibusbd.net/
  7. ^ "BRAC Bank becomes the Kit Partner of National Cricket Team for 2 more years Tigers continue to sport the BRAC Bank logo", BRAC Bank, 2018-09-11