1.PRIMARY FUNCTIONS
a)Acceptance of deposit: The main functions of commercial banks are accepting deposits from the public. Various sections of society, according to their needs and economic condition, deposit their savings with the banks. b)Granting loans and advances: The commercial banks grant loans and advances of various forms. The loan amount is paid in cash or by credit to customer account which the customer can draw at any time. The interest is charged for the full amount whether he withdraws the money from his account or not.But in case of advances,interest varies from Bank to Bank .It is charged only on the amount withdrawn. c)Cash credit account: It is the most significant function of the commercial banks.While sanctioning a loan to a customer, a bank does not provide cash to the borrower Instead it opens a deposit account from where the borrower can withdraw.
1.PRIMARY FUNCTIONS(CONT)
d)Overdraft:
This is an arrangement with the bankers thereby the customer is allowed to draw money over and above the balance in his/her account. This facility is given to holders of current accounts only.
e)Bill discounting:
Discounting of bills by banks provide immediate finance to sellers of goods. This helps them to carry on their business. Banks can discount only genuine commercial bills i.e., those drawn against sale of goods on Credit. Banks will not discount Accommodation Bills.
f)Term loan:
Term loans are made when the repayment is sought to be made in fixed,predetermined instalments.It is normally given for acquiring long term assets I,e plant and machinery,real estate,and for creation of infrastructure etc.
2.Secondary Functions
a.Agency services : Agency services are those services that are rendered by commercial banks as agents of their customers such as ;collection and payment of cheques ,collection of dividends, interest.rent,insurance premium, subcriptions etc. b.Payment and collection of cheques: Everyday a bank has to collect thousand of cheques drawn on other banks deposited with it through clearing house conversly thousand of cheques
It is a negotiable instrument that most commercial bank use for effecting transfer of money.
d).Telegraphic transfer: This is similar to mail transfer except that the massage is sent to another center by telegram.
e).Mail transfer: Commercial bank transfers mail from one account to another account.
SONALI BANK
DISCUSION After independence of the country Sonali bank emerged as the largest and leading Nationalized Commercial Bank by proclamation of Banks Nationalized order 1972. The bank has been converted to a public Limited company with 100 percent of ownership of the government and started functioning as Sonali bank limited from November 15, 2007 taking overall assets, liabilities and business activities of Sonali bank. Sonali bank Ltd is governed by the board of directors consisting of 11 members. The bank is headed by CEO (chief executive officers) and MD (managing director) who is well known banker and a reputed professional.
Paid up capital
TK 112500 core Branches and subsidiaries: Total number of branches1200 No of foreign branches 2 No of local branches 1198 Number of rural branches 854
Janata Bank
A Brief Discussion about Janata Bank:
The second largest nationalised commercial Bank in Bangladesh under the Bangladesh order-1972 with a paid up caital of tk 10 million only.Immidiately after the emergence of Bangladesh in 1971,the erstwhile united Bank limited and union Bank limited were renamed as Janta Bank.On 15th November,2007 the Bank has been corporatised and renamed as Janata Bank limited.Its corporate headoffice is located at Dhaka with with 10 divisions comprising of department 0f 38 Departments.
Present Capital Structure
Authorized capital of tk 2000 million Paid up capital of Tk 5000 million Reserve of tk 10823.01 million Retained Surplus Tk.5167.18 million Total asset of Tk 345233.92 million (As on 31st December)
branches at united Arab Emirates,and linked with 1202 foreign countries. Number of Employees :More than 15 thousand person. Board of Dorector is headed by a Chairman composed of 13 members. The Bank is headed by the Chief Director & Managing Director. The mission of the Bank is to-participate in in socio economic development,provide credit credit to viable borrowers,protect deposit & return on equity to the
OF
Agrani Bank is a stare-owned commercial Bank of Bangladesh established in 1972.Its headquarter is situated at motijheel in Dhaka,the capital city of Bangladesh.Agrani Bank Ltd strategically located in almost all the commercial areas throughout Bangladesh,overseas exchange house and hundreds of overseas correspondent came into being a public limited company on May 17, 2007 with a view to take over the business,assets,liabilties,rights,and obligation of the erstwhile Habib Bank Ltd.The Bank is headed by Managing director and Chief Executive Director.
board of directors consisting of 13 members headed by a Chairman.The Bank has 11 offices 25 divisions in Head office 62 Zonal offices and 879 Branches including 27 Corporate and 40 AD(Authorized Dealer). The authorized capital of the Tk 800
Rupali Bank
Rupali Bank Ltd. was constituted with the manager of 3 erstwhile commercial banks i.e. Muslim aaa Bank Ltd. Australasia Bank Ltd. and Standard Bank Ltd. operated in then Pakistan on March 26. 1972 under the Bangladesh Bans
Private shareholding:
06.89%
General Banking Rupali Bank provides all general banking service to its clients through its 514 branches & 5824 employees including officers respectively all over the country. These are:
like savings, Short notice, DPS, issuance of demand draft, pay order etc.
Core Objectives
Dutch-Bangla Bank believes in its uncompromising commitment to fulfill its customer needs and satisfaction and to become their first choice in banking.
Description
Dutch-Bangla Bank Limited (DBBL) is a scheduled join venture private commercial bank in Bangladesh. The bank is established jointly by local Bangladeshi parties spearheaded by M Sahabuddin Ahmed (Founder & Chairman) and the Dutch company FMO. DBBL
DBBL is given some facilities which are the following: ATM Networks:(With more than 1000 of ATM booths all over the country) Fast Track (In 2010, Dutch Bangla Bank Limited introduced "Fast Track" in the country which is the first of its kind in the country that is like a mini branch) Internet Payment Gateway(Dutch-Bangla Bank Limited introduced Internet Payment Gateway to facilitates Ecommerce in Bangladesh) Mobile Banking (DBBL who introduced mobile banking service to bring poor people from remote are under smart banking service)
Grameen Bank
INTRODUCTION Grameen Bank is a noble peace prize wining microfinance organization in Bangladesh. Actually the concept of such organization had come to mind of Prof. Dr.Yunus since 1974.But it took another nine years to form this bank formally. The name of this bank is actually originated from the bangla word Gram. OBJECTIVE The prime objective of this bank is to make selfreliable rural people especially village women.
GENERAL FEATURES OF GB
Type: Private state owned company Head office: Mirpur Two, Dhaka
1216, Bangladesh Employees: 22149 july 2011 Total Branch: 2565 Revenue:176.67 million USD 2010. Total asset:1567.46 million USD 2010.
DISTINCT FEATURES OF GB
There is no legal instrument between the
Grameen bank and its borrowers. Only Grameen is the lawyer free bank in the world. Only Grameen Bank provides loan to landless people without any collateral. Over 80 percent of the ownership is women. There is no donor of Grameen bank. The member of this bank is the owner of this bank. The activities of this bank are village oriented.
countries in the world. The people in this country also want to fashion and design their lives with the percept of Islam. Keeping up with this concept IBBL set out its banking practice in 1983.The prime objective of this bank is to do banking business on the basis of Islamic principle and thus get rid of people of Bangladesh from the general banking practice.
58.23% Foreign 41.77% Profit-loss basis: IBBL is the first kind of bank in south-Asia which is operated on the basis of profit-loss system instead of general system of interest.
Donor
& advisor: Royal personalities of the Middle-East ,Islamic Development Bank, Asian Development Bank