Prime Banks Credit Card

7/27/2019 Prime Banks Credit Card

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Background of the Company:

The present day banking structure has evolved over severaldecades. The far- reaching program of economic reform is being carried

out at present towards efficient utilization of scarce resources and the

development of private entrepreneurship. In a fast changing business

environment, financial intermediaries are gradually being left to be

guided by market forces rather than regulation. Competition is

strengthened by the entry of new and innovative "providers "of financial

services through the development of Money Market and Capital Market.

Under the ongoing financial liberalization program, Prime Bank Limited

emerges as a bank in private sector to operate in the commercial arena of

Bangladesh.

Values

The Bank holds the following values:

To have a strong customer focus and to builcla relationship

based on integrity superior services and mutual benefit."

To work as a team to serve the best interest of the group.

To work for continuous business innovations

and improvements.

To value and respect people and make decisions based on

merits.

To provide recognition and rewards on performance.

Corporate Profile

Registered office: Adamjee Court Annex Building-2

119-120 , MotijheelC/A


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Dhaka- 1000, Bangladesh

Cable: PRIMEBANK

Phone: 9567265, 9570747-8 PABX

Telex: 642459 PRIME BJ

Fax: 88-02-9567230, 9560977, and 9566215

E-mail: [email protected]

Products and Services of PEL:

Based on customer satisfaction, Prime Bank provides various products

are services to its customers. PBL products and services are briefly as

follows:

Deposit Products

Contributory Saving Scheme.

Monthly Benefit Deposit Scheme.

Special Deposit Scheme.

Educational Deposit Scheme.

Fixed Deposit

Saving Deposit Account

Short Term Deposit Account

Foreign Currency Deposit Account

Non Resident Taka Account

Non Resident Foreign Currency Deposit Account

(NFCD)

Non Resident Investors Taka Account (NITA)

Prime Bank Insured Fixed Deposit Scheme.

Prime Bank Money Scheme


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Multi Currency Account

Loan Product Consumers Credit Scheme

Lease Finance

Hire-Purchase

Small and Medium Enterprise Credit Scheme

Loan against share & Securities.

House Building Financing Scheme

Financing Scheme for Contractors

Computer Software Financing Scheme

Prime Bank Master Card Credit Card

Working Capital Financing

Import Financing Export Financing

Industrial and Project Financing

Others Products/Services

On Line Banking Services

SWIEL Services

Islamic Banking

Locker Services

Exchange Rate.

L/C Delivery Services.


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County's classified loan portfolio has been further soared to

Tk.25,445.23 crore up till September-2002 from Tk. 23, 599.44 crore of

December, 2001. As opposed to total loan portfolio, the share of

percentage of total classified loan recorded to 31 .90% (approximately),

which is much higher than the international standard of 8%. The quality

of bank loan portfolio in Bangladesh is worse than that of many

developing countries.

Despite all negative indicators, some positive signals are giving

lights of hopes for improvement in the domestic economy. Higher influx

of foreign remittances, partial recovery in exports, cautionary

containment of import payments, the modest growth of forex reserve,

relatively stable currency, government borrowing checked and

scrambling the revenue collection are the visible signs of recovery in the

economy and these positive signals may fuel the development of

economy of the country to some extent.

The strong roots of MTBL are not hidden

Despite weak global economy which sustained throughout 200^,

Mutual Trust Bank Ltd. being the 3rd generation bank achieved most

respectable growth for the year underreport and grounded strong roots for

future growth. We have laid down the groundwork for us to go on

growing in terms of quality and boost out market value since tough and

bitter competition exists. We aim to boost profitability significantly in our

private customer operations by means of excellent personalized services

and strong sales forces.


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The authorised and paid-up capital of the bank remains static as

Tk.1000.OOM and Tk.200.00M respectively. In the year under review

bank made an operating profit of Tk.181.19M through the network of

eight branches. The last year operating profit was Tk.94.78M. Thus the

growth in operating profit from last year is 91.17%. Total equity of the

bank stood at Tk,320.02M and total assets rose to 7k.5832.10M as on 31

December, 200^. The capital adequacy ratio stood at 10.81% which is

well within the Central Bank tolerance of 8% of risk weighted asset

value.

The deposit liabilities of the bank has made a note worthy progress.

Last year total deposit of the bank was Tk.3357.82M. Due to asserted

drive and relentless efforts made by the employees of the bank and public

confidence that has been achieved by the bank through performance

buildup during the last three years, the deposit of the bank reached to

Tk.5158.11M registering a growth of 54% over last year deposit.

In the total deposit composition, Fixed deposit remains higher as

before. On the other small deposits on various" scheme have been

increased geometrically in the year 2001, the small deposit under various

schemes was Tk. 18.79M only, whereas in the year under review the

deposit against schemes rose to Tk.101.22M, registering a splendid

growth of 438.69%. It indicates various Shanchay Prokalpa introduced

by the bank have created profound popularity in the market.

In deposit mix, the cost free deposit of the bank also increased.

Year before, the cost free deposit was Tk.456.24lvi and during the year


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under review the component of cost free deposit stood at Tk.862.51M,

the increase is about 89.05%.

The loans and advances of the bank stood to Tk.3437.13M from

Tk.1909.80M of last year, registering a growth of 79.97%. Achievement

of this growth was possible only because of our pragmatic decision,

business oriented policy and flexibility we made with the need of the

client.

In my last year's report to shareholders, I alluded that a promising

client is the partner of progress for future growth and in view of the

solidly anchored presence of bank customer relationship, it was possible

for the bank to expand the asset portfolio at this level without any

classified dot. This dynamic expansion of loan portfolio of the bank

could be made only because of our pro business policy and selection of

clients having proven good track record.

Although we don't have any classified loans till 31 December,

2002; but the bank had to make 1% provision of Tk.15.72M against

unclassified loans and advances as per Bangladesh Bank guidelines. The

total provision against unclassified loans and advances now stood at

Tk.35.00M upto 31 December, 2002.

Non existence of classified loans speaks itself the high quality of

the assets portfolio of the bank from its day one operation. During the

year under review the term loan portfolio for project finances has been

expanded from the last year operation. Apart from industrial


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development, the project finance expansion will create new job

opportunities for the unemployed new blood.

As before foreign trade business played the significant sector for

deploying funds for investment. From day one operation, bank largely

deployed funds in foreign trade business to maximize the bank's profit.

Keeping this in view, bank deployed its major portion in foreign trade

business which in turn gave quick and profitable return and thus helped

the bank for achieving the operating profit of Tk.181.19M.

Prime Banks Credit Card

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