Bank Asia Limited
TypeCommercial bank
DSE: BANKASIA
CSE: BANKASIA
IndustryBanking
Founded27 November 1999
HeadquartersDhaka, Bangladesh
Key people
(Chairman)

A Rouf Chowdhury (Managing director)

Areef Billah Adil Chowdhury
ProductsBanking services
Consumer Banking
Corporate Banking
Agent Banking
Islamic Banking
WebsiteBank Asia Limited

Bank Asia Limited is a private sector commercial bank in Bangladesh.[1] Areef Billah Adil Chowdhury is the president and managing director of the bank.[2] Romo Rouf Chowdhury, chairman of Rancon Group, is the chairman of Bank Asia Limited.[3]

History

The bank was established as a private commercial bank on 28 September 1999, and incorporated in 1999.[1] it expanded through the purchase of the branches of Bank of Nova Scotia and Muslim Commercial Bank Limited.[1] In 2001, it purchased the operations of Scotiabank which entered Bangladesh in 1999.[4][1]

Bank Asia relocated its Nova Scotia branch from Bijoy Sarani to Kazi Nazrul Islam avenue.[5] It signed an agreement with Dutch-Bangla Bank Limited to have access to their automated teller machine network.[6]

In 2008, Bank Asia announced a 25 per cent stock dividends.[7] The bank also introduced Islamic banking.[8]

Bank Asia was awarded third prize in corporate governance disclosures and achieved certificate of merit under integrated reporting category in the 17th ICAB National Award for BPAR-2016.[9] The Anti-Corruption Commission arrested two officials of Bank Asia on embezzlement charges from Chittagong in May over a 760 million taka loan.[10]

Bank Asia was awarded the Intellectual Property Protection Award in 2020 by the Bangladesh Copyright Board.[11] It arranged a seven billion taka loan for Bashundhara Group to build a cement plant.[12] A Rouf Chowdhury, chairman of Rangs Group, was re-elected chairman of the bank in May 2021.[13] A former managing director of Bank Asia was implicated in the PK Halder scam.[14]

In August 2022, Adil Chowdhury was appointed managing director of Bank Asia Limited.[15] The Bank distributed loans to 220 women farmers in June.[16]

References

  1. 1 2 3 4 Mazid, Muhammad Abdul. "Bank Asia Limited". Banglapedia. Retrieved 17 November 2016.
  2. ↑ "IUB launches Business Advisory Board". The Financial Express. Retrieved 17 November 2016.
  3. ↑ "Bank Asia Limited". Bank Asia Limited. Retrieved 28 November 2022.
  4. ↑ "Scotiabank Timeline". www.scotiabank.com. Retrieved 28 November 2022.
  5. ↑ "Scotia Branch of Bank Asia relocated". The Daily Star. 24 September 2007. Retrieved 28 November 2022.
  6. ↑ "Bank Asia's cardholders to use DBBL's ATM, POS". The Daily Star. Retrieved 28 November 2022.
  7. ↑ "Bank Asia declares 25pc stock dividend". The Daily Star. 2 June 2008. Retrieved 28 November 2022.
  8. ↑ "Bank Asia launches Islamic banking". The Daily Star. 25 December 2008. Retrieved 28 November 2022.
  9. ↑ "Bank Asia Limited: Annual Report 2016". islamicmarkets.com. Retrieved 28 November 2022.
  10. ↑ "ACC arrests two officials of Bank Asia over loan scam". The Daily Star. 30 May 2016. Retrieved 28 November 2022.
  11. ↑ "Bank Asia wins Intellectual Property Protection Award 2020". The Daily Star. 1 March 2022. Retrieved 1 March 2022.
  12. ↑ Chakma, Jagaran (21 September 2020). "Bank Asia arranges Tk 700cr for cement plant of Bashundhara". The Daily Star. Retrieved 28 November 2022.
  13. ↑ "A Rouf Chowdhury reelected Bank Asia chairman". The Daily Star. 3 May 2021. Retrieved 28 November 2022.
  14. ↑ "Over 100 influential people, including 2 former bank high-ups, helped PK Halder, claims close associate". The Daily Star. 12 February 2021. Retrieved 28 November 2022.
  15. ↑ "Bank Asia gets new MD". The Daily Star. 8 November 2022. Retrieved 28 November 2022.
  16. ↑ "Bank Asia disburses loans among 220 women farmers". The Daily Star. 27 June 2022. Retrieved 28 November 2022.


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