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BRAC Bank

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BRAC Bank Limited
Company typePublic Limited
IndustryFinancial Services Banking
Founded4 July 2001
Headquarters1, Gulshan Avenue, Gulshan 1, Dhaka 1212
Dhaka, Bangladesh
Key people
Sir Fazle Hasan Abed KCMG, Chairman
Mr. Syed Mahbubur Rahman, Managing Director & CEO
Number of employees
8000 [1]
ParentBRAC, IFC
Websitewww.bracbank.com

BRAC Bank was founded on 4 July 2001 as a private commercial bank focused on Small and Medium Enterprises (SME).

History

BRAC Bank was founded 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 (SME). Since then the Bank has become a leading bank in Bangladesh.

Financial Services

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

Distribution Network

  • Branch : 166 (Dec, 2014)
  • SME Unit Office : 458
  • Remittance Delivery Point : 1800 [2]
  • ATM Booth : 350+
  • Apon Somoy (Financial Kiosk) : 16

Subsidiaries [3]

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 350+. 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.[4]

References

  1. ^ "BRAC Bank: 12 years of banking for financial inclusion". The Financial Express. 2012. Retrieved 4 July 2012.
  2. ^ http://www.thefinancialexpress-bd.com/old/index.php?ref=MjBfMDdfMDRfMTNfMV84OV8xNzUyNjA=
  3. ^ http://www.bracbank.com/subsidiaries.php
  4. ^ http://www.omnibusbd.net/
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