Bank Asia PLC is a private sector commercial bank in Bangladesh. MR. SOHAIL R K HUSSAIN is the president and managing director of the bank. Romo Rouf Chowdhury, chairman of Rancon Group, is the chairman of Bank Asia Limited.

History

The bank was established as a private commercial bank on 28 September 1999, and incorporated in 1999. it expanded through the purchase of the branches of

Bank of Nova Scotia The Bank of Nova Scotia (french: link=no, Banque de Nouvelle-Écosse), operating as Scotiabank (french: link=no, Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada ...

and

Muslim Commercial Bank Limited MCB Bank Limited () is a Pakistani multinational commercial bank which is based in Lahore, Punjab, Pakistan. The majority of shares are owned by Pakistani conglomerate Nishat Group and Malaysian bank Maybank. The bank has a network of 1,600 bran ...

. In 2001, it purchased the operations of

Scotiabank The Bank of Nova Scotia (french: link=no, Banque de Nouvelle-Écosse), operating as Scotiabank (french: link=no, Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada ...

which entered Bangladesh in 1999. Bank Asia relocated its Nova Scotia branch from Bijoy Sarani to Kazi Nazrul Islam avenue. It signed an agreement with Dutch-Bangla Bank Limited to have access to their automated teller machine network. In 2008, Bank Asia announced a 25 per cent stock dividends. The bank also introduced Islamic banking. 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. Bank Asia was awarded the Intellectual Property Protection Award in 2020 by the Bangladesh Copyright Board. It arranged a seven billion taka loan for

Bashundhara Group Bashundhara Group ( bn, বসুন্ধরা গ্রুপ) is a Bangladeshi conglomerate. It is one of the largest manufacturing companies in Bangladesh. It was incorporated in 1987 as a real estate company venture under the name East West ...

to build a cement plant. Romo Rouf Chowdhury, chairman of Rangs Group, was elected chairman of the bank in August 2022. On February 10, 2024, Sohial R K Hussain was appointed managing director of Bank Asia Limited. The bank distributed loans to 220 women farmers in June. 16 April, 2024, Bank Asia Limited has changed its name to 'Bank Asia plc'.https://www.somoynews.tv/news/2024-04-16/7RSE5Kty The central bank said that the name of Bank Asia Limited has been changed to 'Bank Asia plc'.

References

Banks of Bangladesh Banks established in 1991 Banks of Bangladesh with Islamic banking services 1999 establishments in Bangladesh Organisations based in Dhaka {{Bangladesh-stub