BRAC Bank
| Company type | Public Limited |
|---|---|
| Industry | Financial Services Banking |
| Founded | 4 July 2001 |
| Headquarters | 1, Gulshan Avenue, Gulshan 1, Dhaka 1212 Dhaka, Bangladesh |
Key people | Sir Fazle Hasan Abed KCMG, Chairman Mr. Selim RF Hussain, Managing Director & CEO [1] |
Number of employees | 8000 [2] |
| Parent | BRAC, IFC |
| Website | www.bracbank.com |
BRAC Bank is a private commercial bank in Bangladesh focused on Small and Medium Enterprises (SME).
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 (SME).[3]
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 [4]
- ATM Booth : 350+
- Apon Somoy (Financial Kiosk) : 16
Subsidiaries
The subsidiaries are[5]
- 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 400
+. 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.[6]
References
- ^ Selim RF Hussain joins Brac Bank as its MD
- ^ "BRAC Bank: 12 years of banking for financial inclusion". The Financial Express. 2012. Retrieved 4 July 2012.
- ^ "BRAC Bank Limited - Banglapedia". en.banglapedia.org. Retrieved 8 May 2016.
- ^ "BRAC Bank: 12 years of banking for financial inclusion :: Financial Express :: Financial Newspaper of Bangladesh". print.thefinancialexpress-bd.com. Retrieved 8 May 2016.
- ^ "BRAC Bank Limited :: Knowing BRAC Bank » Company Profile » Corporate Vision, Mission & Values". www.bracbank.com. Retrieved 8 May 2016.
- ^ http://www.omnibusbd.net/
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