BRAC Bank Limited

BRAC Bank is a private commercial bank in Bangladesh, operated by the BRAC development organisation, focused on Small and Medium Enterprises (SME). The bank has its head office in Dhaka, Bangladesh. It has 187 branches, 18 Premium Banking lounges, 457 SME Unit Offices, 481 agent banking outlets, 375 ATMs, and 96 CDMs.

History

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.

Financial services

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

Distribution network

* Business Region: 7
* Total Branches (Including SME SC/KB): 187
* Zonal Offices: 185
* Premium Lounges: 18
* ATMs: 375
* CDMs: 96
* SME Unit Office: 457
* Agent Banking Outlet: 481
* Remittance Delivery Point : 1800

Subsidiaries

The subsidiaries are
* BRAC EPL Investments Limited
* BRAC EPL Stock Brokerage Limited
* bKash (Mobile banking service) Limited
* BRAC Saajan Exchange Limited
* BRAC IT Services Limited

ATM network

BRAC Bank has its own ATM network which is currently 457. 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.

Cricket Sponsorship

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

Awards And Recognitions

The following awards were received by the bank:
* “Best Bank in Bangladesh” by Asiamoney, a leading financial publication in the Asia-Pacific region, for the third consecutive time
* “Best Operations Bank in South Asia” at the ‘9th IFC Trade Finance Awards FY2019 – Operations’ by International Finance Corporation (IFC), a company of the World Bank Group
* ‘2020 U.S. Dollar Clearing MT103’ & ‘2020 U.S. Dollar Clearing MT202’ Quality Recognition Awards from JPMorgan Chase & Co.
* “Access to Finance Champion” by the Financial Alliance for Women, for the fourth consecutive year.
* “Excellence in Credit Cards Business”, Excellence in POS Acquiring Business”, “Excellence in e-Commerce Business” and “Excellence in Commercial Business” (newly introduced), comprising four awards from VISA for performance recognition in the VISA cards and payments business
* “SME Bank of the Year – Asia” in silver category at the “Global SME Finance Awards”, for the second consecutive year
* Runner-up for PMO (Project Management Office) at the country's first-ever Project Management Excellence Awards, 2020
* “Best Presented Annual Reports” - three awards bagged for the 2019 Annual Report at the 20th ICAB National Awards
* “Excellence in Mastercard POS Acquiring Business, 2019-20”, a category of Mastercard
* “Gold Award” at 7th ICSB National Award for Corporate Governance Excellence 2019
* “Gold Award” under private commercial bank category at ICMAB Best Corporate Award-2019

See also

* IDLC Finance Limited
* IDLC Investments Limited
* List of Banks in Bangladesh
* Bangladesh Bank

References

{{Banks in Bangladesh

Banks of Bangladesh
Global Alliance for Banking on Values