BRAC Bank

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Private commercial bank in Bangladesh

title: "BRAC Bank" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["banks-of-bangladesh", "companies-in-the-dse-30-index"] description: "Private commercial bank in Bangladesh" topic_path: "general/banks-of-bangladesh" source: "https://en.wikipedia.org/wiki/BRAC_Bank" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Private commercial bank in Bangladesh ::

::data[format=table title="Infobox company"]

FieldValue
nameBRAC Bank PLC.
logoBRAC Bank Limited Logo.svg
logo_size270px
typePublic limited company
traded_as

| | industry | Financial services Banking | | founded | | | founder | Fazle Hasan Abed | | location | Anik Tower, 220/B Tejgaon Gulshan Link Road, Tejgaon, Dhaka-1208 Dhaka, Bangladesh | | key_people | {{unbulleted list | | Tareq Refat Ullah Khan (Managing Director){{cite web |title | BRAC Bank PLC |url=https://mccibd.org/mcci_members/brac-bank-limited}} | | Anita Ghazi (Independent Director){{Cite news |date | 11 Feb 2024 |title=Anita Ghazi Rahman joins BRAC Bank Board as Independent Director |url=https://en.prothomalo.com/corporate/6amjcjjxly |access-date=17 Apr 2024 |work=Prothom Alo |language=en}} | | operating_income | (2021) | | net_income | (2021) | | assets | (2021) | | equity | (2021) | | revenue | (2020) | | num_locations | 191 Branch | | num_employees | 7740 (2020) | | subsid | bKash Ltd. BRAC Saajan Exchange Ltd. BRAC EPL Investments Ltd. BRAC EPL Stock Brokerage Ltd. | | parent | BRAC, IFC | | footnotes | | | homepage | | ::

| name = BRAC Bank PLC. | logo = BRAC Bank Limited Logo.svg | logo_size = 270px | type = Public limited company | traded_as =

| industry = Financial services Banking | founded = | founder = Fazle Hasan Abed | location = Anik Tower, 220/B Tejgaon Gulshan Link Road, Tejgaon, Dhaka-1208 Dhaka, Bangladesh | key_people = {{unbulleted list |Meheriar M. Hasan (Chairperson) |Tareq Refat Ullah Khan (Managing Director) |M Masud Rana FCA (CFO) |Anita Ghazi (Independent Director) | operating_income = (2021) | net_income = (2021) | assets = (2021) | equity = (2021) | revenue = (2020) | num_locations = 191 Branch | num_employees = 7740 (2020) | subsid = bKash Ltd. BRAC Saajan Exchange Ltd. BRAC EPL Investments Ltd. BRAC EPL Stock Brokerage Ltd. | parent = BRAC, IFC | footnotes = | homepage =

BRAC Bank PLC is a private commercial bank in Bangladesh, founded in 2001. The bank is a subsidiary of BRAC, a leading development organization in the country. BRAC Bank is known for its focus on small and medium-sized enterprises (SMEs).

The bank has a network of over 191 branches, 107 sub branches, 446 SME unit offices, over 385 ATMs, 10 CDMs, and 68 RCDMs across the country. In addition to traditional banking services such as deposits, loans, and cards, BRAC Bank also offers digital banking, including online banking, mobile banking, and e-wallet services.

History

BRAC Bank was founded on 4 July 2001 to serve the large unbanked population excluded from traditional banking services. The main concept of the bank was to facilitate small and medium enterprises. BRAC Bank was founded by Fazle Hasan Abed, the founder of BRAC and BRAC University.

In 2005, BRAC Bank established BRAC Afghanistan Bank in 2006 as a greenfield venture.

In February 2008, the CEO and managing director of BRAC Bank, Imran Rahman, died in Canada. In May 2008, the bank decided to purchase a majority stake in GSP Finance Company (Bangladesh) Limited. Muhammad A. (Rumee) Ali was appointed chairman of BRAC Bank Limited. Muhammad A. (Rumee) Ali was a deputy governor of Bangladesh Bank and had joined BRAC in 2007.

In August 2009, BRAC Bank purchased 51 per cent of Equity Partners Limited and Equity Partners Securities Limited. They are later renamed to BRAC EPL Stock Brokerage Limited and BRAC EPL Investments Limited. BRAC Saajan Exchange Limited was established in 2011 through the purchase of Saajan Worldwide Money Transfer Limited, established in 2009, in Great Britain. BRAC Bank sponsored Wasfia Nazreen seven summit expedition.

In September 2014, a robbery took place at the Joypurhat District branch of BRAC Bank Limited. Rapid Action Battalion arrested the suspects and recovered some of the stolen money in September.

Ahsan H Mansur was appointed chairman of BRAC Bank on 27 August 2019, replacing Sir Fazle Hasan Abed after he retired. Its half-yearly profit saw a 50 per cent decline.

BRAC Bank filed an appeal on 19 October 2020 with the Appellate Division seeking a stay order on a verdict of the Bangladesh High Court, which ordered the bank to pay 1.5 million BDT to Jaha Alam, who had served three years wrongly in a case filed by BRAC.

BRAC Bank received US$30 million in April from the International Finance Corporation. In August 2021, BRAC Bank planned to raise six billion BDT through issuing bonds.

In September 2022, Bangladesh Bank ordered BRAC Bank to spend 50 per cent of their profits from foreign exchange trading, deemed unethical by Bangladesh Bank, on corporate social responsibility programs. On 28 September, it opened its 800th agent banking branch. It had approved 15 per cent dividends for stock holders. It increased the salary of junior-grade officers by 50 per cent. It had a total asset of 611 billion BDT as of 2022. It launched a digital loan app called Shubidha.

On 11 January 2023, BRAC Bank borrowed US$50 million from the German Investment Corporation. It donated 40 million BDT to Prime Minister Sheikh Hasina's Ashrayan-2 project. BRAC Bank opened its 1000th agent banking outlet in February 2023.

Financial services

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

Distribution network

  • Business Region: 7
  • Total Branches (Including SME SC/KB): 193
  • 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
  • Astha

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

References

References

  1. "BRAC Bank PLC".
  2. (11 Feb 2024). "Anita Ghazi Rahman joins BRAC Bank Board as Independent Director". Prothom Alo.
  3. "Annual Report 2020".
  4. "Brac Bank".
  5. (2023-03-22). "BRAC Bank, SME Foundation organises capacity-building programme for 100 women entrepreneurs in Rangamati". The Business Standard.
  6. "BRAC Bank's bKash Launches Mobile Banking Services in Bangladesh".
  7. "Brac Bank".
  8. "BRAC Bank Limited".
  9. (2022-05-30). "Brac University: Inspiring Excellence". The Daily Star.
  10. "Disclosure".
  11. "CEO of Afghan BRAC Bank gets award". The Daily Star.
  12. "BRAC Bank (Afghanistan) selects Phoenix and ACCeSS for their ATM and Debit Card program".
  13. (2008-02-29). "Brac Bank MD Imran passes away". The Daily Star.
  14. Rahman, Sajjadur. (2008-05-09). "BRAC Bank to buy majority stakes in GSP Finance". The Daily Star.
  15. (2008-05-16). "New Chairman of BRAC Bank". The Daily Star.
  16. (2009-08-01). "BRAC Bank buys stake in Equity Partners". The Daily Star.
  17. (2022-12-11). "Brac Bank signs MoU with Brac EPL Stock Brokerage, Brac EPL Investments". The Business Standard.
  18. "BRAC Saajan Exchange Ltd".
  19. "Four down for Wasfia". The Daily Star.
  20. (2014-10-09). "'Mastermind' among 7 held in Brac Bank heist". The Daily Star.
  21. (2019-08-27). "Ahsan Mansur new Brac Bank chairperson". The Daily Star.
  22. (2019-07-31). "Brac Bank's half-yearly profit down 12pc". The Daily Star.
  23. (2020-10-19). "Compensating Jaha Alam: Brac Bank appeals to SC for stay on order". The Daily Star.
  24. (2021-04-28). "Brac Bank to get $30m IFC loan". The Daily Star.
  25. (2021-08-30). "Brac Bank to raise Tk 600cr thru bonds". The Daily Star.
  26. Uddin, AKM Zamir. (2022-09-23). "Forex market: Six banks apologise for making excessive profits". The Daily Star.
  27. (2022-09-28). "Brac Bank opens 800th agent banking outlet". The Daily Star.
  28. (2022-04-29). "Brac Bank approves 15pc dividend". The Daily Star.
  29. (2022-01-15). "BRAC Bank raises junior-grade salaries up to 50%". The Daily Star.
  30. (2022-12-12). "Moody's places 7 Bangladeshi banks' ratings under review for downgrade; downgrades Social Islami Bank's ratings to B3 from B2".
  31. (2022-11-15). "Brac Bank launches digital loan app 'Shubidha'". The Business Standard.
  32. (2023-01-11). "Brac Bank to borrow $50m loan from German finance institution". The Daily Star.
  33. (2023-01-16). "BRAC Bank donates Tk4 crore to PM's Ashrayan-2 project". The Business Standard.
  34. (2025-04-17). "BRAC Bank opens 1,000th agent banking outlet". The Business Standard.
  35. Weber, Olaf. (2011). "Social Banks and the Future of Sustainable Finance". Routledge.
  36. "BRAC Bank Limited :: Knowing BRAC Bank » Company Profile » Corporate Vision, Mission & Values".
  37. (2022-07-13). "Brac Bank increases Astha fund transfer limits". The Daily Star.
  38. "Welcome to OMNIBUS".
  39. (2018-09-11). "BRAC Bank becomes the Kit Partner of National Cricket Team for 2 more years Tigers continue to sport the BRAC Bank logo". BRAC Bank.

::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::

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