National Credit and Commerce Bank

Last updated
NCC Bank PLC.
Founded1985
Headquarters,
Key people
  • Md. Nurun Newaz (Chairman)
  • M. Shamsul Arefin (Managing Director and CEO)
Website nccbank.com.bd

NCC Bank PLC. or National Credit and Commerce Bank PLC. [1] is a Bangladeshi private commercial bank. [2] [3] [4] Mr. M. Shamsul Arefin is the present managing director and CEO of the bank. [5]

Contents

History

NCC Bank was founded in 1985 as an investment company in the name of NCL (National Credit Limited). [1] It became a scheduled commercial bank after receiving permission from the central bank in 1993 and started with a paid up capital of Tk. 390 million. [1]

In June 2008, Tofazzal Hossain was elected chairman of NCC Bank. [6]

In September 2015, the Rapid Action Battalion arrested an employee of NCC Bank for embezzling 89.8 million BDT from remittance. [7]

In August 2017, Mosleh Uddin Ahmed was appointed CEO and managing director of NCC Bank. [8] Md Nurun Newaz Salim, chairman of Electro Mart Limited and Central Insurance Company Limited, was elected chairman of NCC Bank. [9]

In May 2019, a Bangladesh Financial Intelligence Unit investigation found Mosleh Uddin Ahmed, managing director of NCC Bank, had abnormal bank deposits. [10] The board of directors of the bank decided to have a meeting over the issue and sought an explanation from Ahmed. [10] [11] Three financial banks, Dutch Bangla Bank Limited, NCC Bank Limited, and Prime Bank, were victims of cyberattacks in May. [12] Dutch Bangla Bank Limited lost three million USD to the hackers, while the other banks maintained that they did not lose any money. [12] Md Nurun Newaz Salim was re-elected chairman of NCC Bank. [13]

On 30 December 2020, Mohammad Mamdudur Rashid was appointed managing director of NCC Bank. [14] On 5 September 2021, Md Abul Bashar was elected chairman of NCC Bank. [15]

In August 2022, the bank approved issuance of a five billion BDT bond with the aim of meeting the Tier 2 capital requirements of Basel III. [16]

In October 2024, Alhaj Md. Nurun Newaz was elected chairman of the bank. [17]

Board of directors

NameDesignationReference
Md. Nurun NewazChairman [18]
Sohela HossainDirector [18]
Abdus SalamDirector [18]
Amjadul Ferdous ChowdhuryDirector [18]
S.M. Abu MohsinDirector [18]
Tanzina AliDirector [18]
Khairul Alam ChakladerDirector [18]
Md. MoinuddinDirector [18]
Mohammed Sazzad Un NewazDirector [18]
Mr. M. Shamsul ArefinCEO and Managing Director [18]

References

  1. 1 2 3 "National Credit and Commerce Bank Limited". Banglapedia. Retrieved 2016-05-09.
  2. "NCC Bank diversifies activities". The Financial Express. Dhaka. 2007-08-27. Retrieved 2013-04-03.
  3. "NCC Bank gets new DMD". The Daily Star. 2015-06-09. Retrieved 2016-05-09.
  4. "NCC Bank aspires to be at the top". The Daily Star. 2015-05-18. Retrieved 2016-05-09.
  5. "NCC Bank gets new chair, vice-chair". The Daily Star. 2015-07-28. Retrieved 2016-05-09.
  6. "Chairman, vice chairman of NCC Bank re-elected". The Daily Star. 2008-06-15. Retrieved 2023-03-25.
  7. "Ex-NCC bank officer held for embezzling Tk 8.98cr". The Daily Star. 2015-09-04. Retrieved 2023-03-25.
  8. "Mosleh Uddin NCC Bank MD". The Daily Star. 2017-08-07. Retrieved 2023-03-25.
  9. "New chairman for NCC Bank". The Daily Star. 2017-08-02. Retrieved 2023-03-25.
  10. 1 2 "NCC Bank board to discuss CEO's 'abnormal' deposits". The Daily Star. 2019-05-07. Retrieved 2023-03-25.
  11. "NCC Bank MD asked to explain abnormal deposits". The Daily Star. 2019-05-09. Retrieved 2023-03-25.
  12. 1 2 Rahman, Sajjadur (2019-06-22). "Three banks hit by cyberattacks". The Daily Star. Retrieved 2023-03-25.
  13. "NCC Bank re-elects chairman". The Daily Star. 2019-09-15. Retrieved 2023-03-25.
  14. "NCC Bank gets new MD". The Daily Star. 2020-12-30. Retrieved 2023-03-25.
  15. "NCC Bank gets new chairman, vice-chairman". The Daily Star. 2021-09-05. Retrieved 2023-03-25.
  16. "NCC Bank to issue Tk500 crore bond". The Daily Star. 2022-08-10. Retrieved 2023-03-25.
  17. "NCC Bank gets chairman". The Daily Star. 2024-10-30. Retrieved 2024-10-30.
  18. 1 2 3 4 5 6 7 8 9 10 "BOARD OF DIRECTORS". NCC Bank Limited. Retrieved 25 March 2023.

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