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BRAC Bank Limited

BRAC Bank is a private commercial bank in Bangladesh focused on Small and Medium Enterprises (SME).

History

BRAC Bank was founded on 4 July 2001 to reach the large number of unbanked people which were not covered by traditional bank. The main concept of the bank was to facilitate Small and Medium Enterprises (SME).[3]

Financial services

  • SME Banking
  • Retails Banking
  • Card Service (Credit & Debit)
  • Foreign Exchange & Related Services
  • Wholesale Banking & Custodial Service
  • Probashi Banking

Distribution network

  • Branch : 187 (October 2019)
  • SME Unit Office : 457
  • Remittance Delivery Point : 1800 [4]
  • ATM Booth : 447

Subsidiaries

The subsidiaries are[5]

  • BRAC EPL Investments Limited
  • BRAC EPL Stock Brokerage Limited
  • bKash (Mobile banking service) Limited
  • BRAC Saajan Exchange Limited
  • BRAC IT Services Limited

ATM network

BRAC Bank has its own ATM network which is currently 457. In addition to this BRAC Bank is the lead arranger of OMNIBUS shared ATM network.

OMNIBUS, an association of member institutions, which will provide shared ATM and POS network facilities to banks through a neutral mother switch. OMNIBUS was formed as a result of a need for a neutral and centralized gateway. And as a result BRAC Bank took the initiative. And with BRAC Bank, Q-Cash came forward with its members to join hands to form OMNIBUS.[6]

Cricket Sponsorship

The bank is the official kit sponsor for the Bangladesh national cricket team, Under-19 cricket team, Bangladesh women cricket team for the period of 2018 to 2020, meanwhile the organisation is the kit partner for the team since 2016 and renewed their term until January 2020 [7]

See also

References

Jobs
28 September 2019