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Bank Asia PLC

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Bangladeshi private bank

Bank Asia PLC
Company typePublic Limited Company
Traded asDSE: BANKASIA
CSE: BANKASIA
IndustryBanking
Founded27 November 1999
HeadquartersDhaka, Bangladesh
Key people(Chairman)

Romo Rouf Chowdhury

(Managing director)

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

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

History

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

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

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

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.

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

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

References

  1. ^ 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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