Bengal Commercial Bank Limited
TypeCommercial bank
IndustryBanking
Founded23 February 2020
HeadquartersDhaka, Bangladesh
Key people
Jashim Uddin (Chairman)
ProductsBanking services
Consumer Banking
Corporate Banking
Agent Banking
Islamic Banking
Websitebgcb.com.bd

Bengal Commercial Bank Limited is a fifth generation private commercial bank in Bangladesh. Md. Jashim Uddin, Vice Chairman of Bengal Group of Industries, is chairman of Bengal Commercial Bank Limited.[1] Ghulam Mohammed Alomgir, the chairman of Max Group, is the vice chairman of Bengal Commercial Bank Limited.[2]

History

Bangladesh Bank provided a letter of intent to Bengal Commercial Bank Limited in February 2019 along with two other banks, Community Bank Bangladesh and Citizens Bank PLC.[3][4] Bengal Commercial Bank Limited was established on 23 February 2020 by the Bengal Group of Industries.[5][6] The Bank was originally called Bengal Bank.[6] Bangladesh Bank initially opposed the license of the new bank as it believed the market was oversaturated.[6] It relented following pressure from the government and the minister of finance, A. M. A . Muhith.[6] In March 2021, the Minister of Finance, AHM Mustafa Kamal, inaugurated the bank at the Pan Pacific Sonargaon.[7] Tarik Morshed was the first managing director of the bank and Md Jasim Uddin the chairman of the bank.[7] K.M. Awlad Hossain was appointed the deputy managing director and CBO of the bank who was former Deputy Managing Director of Dutch-Bangla Bank Ltd. [8] It was the 60th bank in Bangladesh.[9]

In May, chairman of the bank, Md. Jashim Uddin, was elected president of Federation of Bangladesh Chambers of Commerce and Industry.[10] Bengal Commercial Bank Limited signed an agreement with Credit Rating Information and Services Limited in August for a credit rating of the bank.[11] The bank had a net loss of 188 million taka in 2021.[12]

Bengal Commercial Bank held their annual business conference in their headquarters in Gulshan in January 2022.[13] Bengal Commercial Bank Limited signed an agreement with Jamuna Bank in June over licensing Visa.[14] It signed an agreement with Bengal Islami life Insurance Limited in June.[15] On 19 September 2022, Bengal Commercial Bank Limited signed a deal with Trust Bank to transfer money using Ria Money Transfer.[16][17] It is also linked to the money transfer service of Nagad.[18] In October Bengal Commercial Bank Limited signed an agreement with Babuland.[19] It opened its 12th branch in Chittagong.[20] Its 13th branch is in Keraniganj.[21] It had a capital shortfall of 23 million taka.[22]

References

  1. ↑ "Bengal Group Vice Chairman Md Jashim Uddin receives prestigious honour from New York State Assembly". The Business Standard. 2 October 2022. Retrieved 29 November 2022.
  2. ↑ "Tour for Social Goods". The Daily Star. 10 September 2022. Retrieved 29 November 2022.
  3. ↑ "Peoples Bank fails to win BB nod". The Daily Star. 21 January 2022. Retrieved 29 November 2022.
  4. ↑ Uddin, AKM Zamir (8 December 2020). "Bangladesh Bank approves new bank". The Daily Star. Retrieved 29 November 2022.
  5. ↑ "About Us || Bengal Commercial Bank". bgcb.com.bd. Retrieved 29 November 2022.
  6. 1 2 3 4 "Another lender enters the fray". The Daily Star. 10 February 2020. Retrieved 29 November 2022.
  7. 1 2 "Bengal Commercial Bank starts its journey". The Daily Star. 10 March 2021. Retrieved 29 November 2022.
  8. ↑ "Bengal Commercial Bank appoints DMD". The Daily Star. 8 February 2021. Retrieved 29 November 2022.
  9. ↑ "Bengal Commercial Bank gets BB approval". Dhaka Tribune. 9 February 2020. Retrieved 29 November 2022.
  10. ↑ "Md Jashim Uddin, new president of FBCCI". The Daily Star. 9 May 2021. Retrieved 29 November 2022.
  11. ↑ "Bengal Commercial Bank signs credit rating deal". The Daily Star. 25 August 2021. Retrieved 29 November 2022.
  12. ↑ Uddin, AKM Zamir (12 April 2022). "Scams, higher expenses keep 9 banks in the red". The Daily Star. Retrieved 29 November 2022.
  13. ↑ "Bengal Commercial Bank holds first annual business conference". Dhaka Tribune. 25 January 2022. Retrieved 29 November 2022.
  14. ↑ "Jamuna Bank, Bengal Commercial Bank sign deal". The Daily Star. 23 June 2022. Retrieved 29 November 2022.
  15. ↑ "Bengal Commercial Bank and Bengal Islami Life Insurance sign MoU". The Business Standard. 6 June 2022. Retrieved 29 November 2022.
  16. ↑ "Bengal Commercial Bank, Trust Bank sign deal". The Daily Star. 19 September 2022. Retrieved 29 November 2022.
  17. ↑ "Bengal Commercial Bank, Trust Bank sign agreement". Dhaka Tribune. 18 September 2022. Retrieved 29 November 2022.
  18. ↑ "Nagad launches add-money service from Meghna Bank". The Daily Star. 16 July 2022. Retrieved 29 November 2022.
  19. ↑ "Bengal Commercial Bank, Babuland sign deal". The Daily Star. 6 October 2022. Retrieved 29 November 2022.
  20. ↑ "Bengal Commercial Bank opens its 12th branch at Chittagong". Dhaka Tribune. 27 October 2022. Retrieved 29 November 2022.
  21. ↑ "Bengal Commercial Bank opens 13th Branch at Hasnabad in South Keraniganj". The Business Standard. 23 November 2022. Retrieved 29 November 2022.
  22. ↑ "NRB Bank Limited opens another sub-branch at Sonaimuri, Noakhali". Dhaka Tribune. 29 October 2022. Retrieved 29 November 2022.


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