Bank Asia PLC

Last updated

Bank Asia PLC
Company type Public Limited Company
DSE:  BANKASIA
CSE:  BANKASIA
Industry Banking
Founded27 November 1999
Headquarters Dhaka, Bangladesh
Key people
(Chairman)

Romo Rouf Chowdhury

(Managing director)

Sohail R K Hussain
Products Banking services
Consumer Banking
Corporate Banking
Agent Banking
Islamic Banking
Credit Cards
Remmittance Operations
Student Files, etc
Website Bank Asia PLC

Bank Asia PLC is a private sector commercial bank in Bangladesh. [1] MR. SOHAIL R K HUSSAIN is the president and managing director of the bank. [2] Romo Rouf Chowdhury, chairman of Rancon Group, is the chairman of Bank Asia Limited. [3]

History

The bank was established as a private commercial bank on 28 September 1999, and incorporated in 1999. [1] it expanded through the purchase of the branches of Bank of Nova Scotia and Muslim Commercial Bank Limited. [1] In 2001, it purchased the operations of Scotiabank which entered Bangladesh in 1999. [4] [1]

Bank Asia relocated its Nova Scotia branch from Bijoy Sarani to Kazi Nazrul Islam avenue. [5] It signed an agreement with Dutch-Bangla Bank Limited to have access to their automated teller machine network. [6]

In 2008, Bank Asia announced a 25 per cent stock dividends. [7] The bank also introduced Islamic banking. [8]

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. [9]

Bank Asia was awarded the Intellectual Property Protection Award in 2020 by the Bangladesh Copyright Board. [10] It arranged a seven billion taka loan for Bashundhara Group to build a cement plant. [11] Romo Rouf Chowdhury, chairman of Rangs Group, was elected chairman of the bank in August 2022. [12]

On February 10, 2024, Sohial R K Hussain was appointed managing director of Bank Asia Limited. [13] The bank distributed loans to 220 women farmers in June. [14] 16 April, 2024, Bank Asia Limited has changed its name to 'Bank Asia plc'. [15]

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References

  1. 1 2 3 4 Mazid, Muhammad Abdul. "Bank Asia PLC". Banglapedia. Retrieved 17 November 2016.
  2. ↑ "IUB launches Business Advisory Board". The Financial Express. Retrieved 17 November 2016.
  3. ↑ "Bank Asia Limited". Bank Asia Limited. Retrieved 28 November 2022.
  4. ↑ "Scotiabank Timeline". www.scotiabank.com. Retrieved 28 November 2022.
  5. ↑ "Scotia Branch of Bank Asia relocated". The Daily Star. 24 September 2007. Retrieved 28 November 2022.
  6. ↑ "Bank Asia's cardholders to use DBBL's ATM, POS". The Daily Star. Retrieved 28 November 2022.
  7. ↑ "Bank Asia declares 25pc stock dividend". The Daily Star. 2 June 2008. Retrieved 28 November 2022.
  8. ↑ "Bank Asia launches Islamic banking". The Daily Star. 25 December 2008. Retrieved 28 November 2022.
  9. ↑ "Bank Asia Limited: Annual Report 2016". islamicmarkets.com. Retrieved 28 November 2022.
  10. ↑ "Bank Asia wins Intellectual Property Protection Award 2020". The Daily Star. 1 March 2022. Retrieved 1 March 2022.
  11. ↑ Chakma, Jagaran (21 September 2020). "Bank Asia arranges Tk 700cr for cement plant of Bashundhara". The Daily Star. Retrieved 28 November 2022.
  12. ↑ "Over 100 influential people, including 2 former bank high-ups, helped PK Halder, claims close associate". The Daily Star. Retrieved 28 November 2022.
  13. ↑ "Bank Asia gets new MD". The Daily Star. 8 November 2022. Retrieved 28 November 2022.
  14. ↑ "Bank Asia disburses loans among 220 women farmers". The Daily Star. 27 June 2022. Retrieved 28 November 2022.
  15. ↑ 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'.


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