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NRBC Bank hits significant milestones in 11yrs

Deposits jump to Tk17,613b from Tk4,523b in last 6yrs
Staff Correspondent
01 Apr 2024 19:05:23 | Update: 01 Apr 2024 19:05:23
NRBC Bank hits significant milestones in 11yrs

Over the course of its 11 years of journey, the NRBC bank has been involved with various activities focused on public welfare. This fourth-generation bank marked its 11th anniversary on Monday.

NRBC Bank has expanded its service programmes throughout the country, particularly targeting the well-being of people in rural areas, reads a press release.

The bank pioneered the concept of sub-branch banking for this expansion of services. NRBC Bank has leveraged technology to become a leading influence in QR code banking. It has risen to prominence among modern banks due to its innovative initiatives.

In terms of profitability, branch network, manpower, foreign trade, deposit collection, and loan distribution, NRBC Bank has surpassed all other banks of its generation.

Founded on April 2, 2013, by 53 expatriate entrepreneurs, NRBC Bank faced some initial challenges. However, In December 2017, there was a restructuring of the bank's management, resulting in Parvez Tamal being elected as Chairman.

Over the subsequent six years, NRBC Bank has made noteworthy progress across a range of economic indicators.

The bank is advancing in improving the fortunes of rural people through its adopted action plans. Through the establishment of sub branches up to the union level, small loans are being provided to people in remote areas.

Already, 80,000 people have become entrepreneurs by taking small loans from NRBC Bank.

Chairman Parvez Tamal states that the bank has surpassed 11 years and is moving towards its 12th year of operation. Our constant concern has been to provide the best and safest banking service.

Using our previous experiences, our goal is to maintain a leading position in cleanliness and accountability moving forward.

Analyzing the economic indicators of the bank, it is seen that in the six years following 2017, NRBC Bank is now at the forefront compared to contemporary banks. Among the new generation banks, NRBC Bank has earned the highest profits.

It leads in terms of branch networks among the new generation banks.

In some cases, NRBC Bank has advanced significantly compared to previous generations of banks. Financial foundations have become much stronger in this new direction. In 2017, deposits amounted to Tk 4,523 billion.

By the end of 2023, it has increased to Tk. 17,613 billion, more than quadrupling.

Loan distribution has also increased by more than threefold. In 2017, loans amounted to Tk. 4,300 billion, and by the end of 2023, it had reached Tk. 14,508 billion. The number of bank employees has increased from 617 to 6,832. In 2017, there were only 61 branches.

By the end of 2023, the number of branches and sub-branches had reached almost 800.

NRBC Bank's Managing Director and CEO Golam Awlia pointed out, “NRBC Bank is the bank of the people of rural Bangladesh. Wherever it is possible to create more jobs for people, we are investing there.

“Banking services are being extended to individuals' homes, with a strong focus on financial technology to deliver instant banking solutions. Everyday people are receiving prompt access to small loans, and we're advancing towards microcredit.”

Our primary objective is to facilitate employment opportunities for 100,000 individuals annually, he added.