Bangladesh Development Bank

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Bangladesh Development Bank PLC.
Company typeState-owned bank, Public Limited Company
IndustryDevelopment Bank
Bank
Capital Markets and allied industries
FoundedDhaka, 16 November 2009
Number of locations
50
Key people
ProductsRetail banking, private banking, corporate banking, deposits, mortgage loan, savings scheme, Sanchay Scheme, trade and retail forex
Total assets৳54.55 billion (US$510 million)
Number of employees
About 745
ParentGovernment of Bangladesh (100%)
SubsidiariesBDBL Securities Limited (BSL)
BDBL Investment Services Limited (BISL)
Websitebdbl.portal.gov.bd

Bangladesh Development Bank PLC. is a state-owned commercial bank in Bangladesh.[1] The bank has one of the highest loan default rates in Bangladesh.[2][3]

History[edit]

Bangladesh Development Bank PLC. was established on 16 November 2009 as a Public Limited Company by merging the state-owned Bangladesh Shilpa Bank with the Bangladesh Shilpa Rin Sangstha; both were established on 31 October 1972.[4][5] Bangladesh Development Bank started in 2010 with 534 court cases concerning 21 billion taka and 24.6 billion taka in written off liabilities.[1]

Santi Narayan Ghosh was appointed chairperson of the Bangladesh Development Bank in September 2012.[6]

In 2016, former managing director of Karmasangsthan Bank, Mushtaque Ahmed, and former deputy managing director of Rupali Bank Limited, Md Abu Hanif Khan, were appointed directors of Bangladesh Development Bank.[7]

The bank has had issues with loan defaulting, as of 2018, the total defaulted loans at the bank stood at 23.32 billion taka.[8] On 11 June 2019, the Anti-Corruption Commission sued for officials of the bank for allegedly embezzling 250 million taka from the bank.[9] The commission arrested the former general manager of the bank, Syed Nurur Rahman Kadri, from Dhaka in November 2019.[10] Other officials accused by commission were Dewan Mohammad Ishak, Assistant General Manager, and Dinesh Chandra Saha, principal officer, in the embezzlement case by Dhaka Trading and its owner Tipu Sultan .[11]

On 27 November 2022, Md. Habibur Rahman Gazi was appointed managing director of Bangladesh Development Bank.[12] On 26 February 2019, Mohammad Mejbahuddin was appointed chairperson of the bank.[13] The headquarters of the bank caught fire in October 2020.[14] AHM Mustafa Kamal, Minister of Finance, considered merging Bangladesh Development Bank and BASIC Bank in 2021.[15] In November 2021, Shamima Nargis was appointed chairperson of the bank.[16]

In 2022, Bangladesh Development Bank signed an agreement with Bank Asia to work with Western Union for remittance.[17] It is part of a consortium of six banks financing the Bashundhara Gold Refinery of Bashundhara Group.[18][19]

Board of directors[edit]

Name Designation Reference
Shamima Nargis Chairperson [20]
Md. Ekhlasur Rahman Director [20]
Md. Abu Hanif Khan Director [20]
Subhash Chandra Sarker Director [20]
Quazi Shairul Hassan Director [20]
Md. Azizur Rahman Director [20]
K. M. Tariqul Islam Director [20]
Md. Habibur Rahman Gazi CEO and Managing Director [20]

References[edit]

  1. ^ a b "Development Bank takes off". The Daily Star. 2010-01-04. Retrieved 2019-08-03.
  2. ^ Uddin, AKM Zamir (2022-08-14). "Dozen banks hold about 60pc default loans". The Daily Star. Retrieved 2022-10-20.
  3. ^ "Defaulted loans in 16 banks above 10pc". New Age. Retrieved 2022-10-20.
  4. ^ "BDBL | Objectives". www.bdbl.com.bd. Archived from the original on 2014-09-07. Retrieved 2019-08-03.
  5. ^ "Bangladesh Development Bank starts journey Jan 3". The Daily Star. 2009-12-08. Retrieved 2019-08-03.
  6. ^ "Bangladesh Development Bank gets new chairman". The Daily Star. 2012-09-07. Retrieved 2022-10-20.
  7. ^ "BDBL appoints new directors". The Daily Star. 2016-01-24. Retrieved 2022-10-20.
  8. ^ "A loan defaulting epidemic: Over two lakh privileged institutions!". The Daily Star (Opinion). 2018-09-18. Retrieved 2019-08-03.
  9. ^ "4 BDBL officials sued for embezzling Tk 25cr". The Daily Star. 2019-06-11. Retrieved 2019-08-03.
  10. ^ "Bangladesh Development Bank: ACC arrests former GM over Tk 174cr graft". The Daily Star. 2019-11-18. Retrieved 2022-10-20.
  11. ^ "Tk 22.5cr loan taken out thru fake contract". The Daily Star. 2020-09-09. Retrieved 2022-10-20.
  12. ^ "Bangladesh Development Bank gets new CEO". The Daily Star. 2022-11-28. Retrieved 2022-10-20.
  13. ^ "New chairman for BDBL". The Daily Star. 2019-02-26. Retrieved 2022-10-20.
  14. ^ "Fire erupts at BDBL building in Dhaka's Karwan Bazar". bdnews24.com. Retrieved 2022-10-20.
  15. ^ "BASIC Bank, BDBL merger on cards". The Daily Star. 2021-06-11. Retrieved 2022-10-20.
  16. ^ "Shamima Nargis new BDBL chairman". The Daily Star. 2021-11-15. Retrieved 2022-10-20.
  17. ^ "Bangladesh Development Bank, Bank Asia sign deal". The Daily Star. 2022-09-02. Retrieved 2022-10-20.
  18. ^ "6 banks move to finance Bashundhara Gold Refinery". New Age. Retrieved 2022-10-20.
  19. ^ Uddin, AKM Zamir (2022-02-11). "BB asks state banks to rope in more private lenders". The Daily Star. Retrieved 2022-10-20.
  20. ^ a b c d e f g h "Bangladesh Development Bank Limited (BDBL)". www.bdbl.com.bd. Retrieved 2022-10-20.
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