NCC Bank PLC. or National Credit and Commerce Bank PLC.
is a Bangladeshi private commercial bank. Mr. M. Shamsul Arefin is the present managing director and CEO of the bank.
History
NCC Bank was founded in 1985 as an investment company in the name of NCL (National Credit Limited).
It became a scheduled
commercial bank
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit.
It can also refer to a bank or a division of a larger bank that deals with whol ...
after receiving permission from the central bank in 1993 and started with a paid up capital of
Tk.
The taka (, , sign: , code: BDT, short form: Tk) is the currency of Bangladesh. In Unicode, it is encoded at .
Issuance of banknotes 10 and larger is controlled by Bangladesh Bank, while the 2 and 5 govt. notes are the responsibility of the ...
390 million.
In June 2008, Tofazzal Hossain was elected chairman of NCC Bank.
In September 2015, the
Rapid Action Battalion
Rapid Action Battalion (; abbreviated as RAB) is an anti-crime and anti-terrorism unit of the Bangladesh Police. This elite force consists of members of the Bangladesh Army, Bangladesh Navy, Bangladesh Air Force, Bangladesh Police, Border Guard ...
arrested an employee of NCC Bank for embezzling 89.8 million BDT from remittance.
In August 2017, Mosleh Uddin Ahmed was appointed CEO and managing director of NCC Bank. Md Nurun Newaz Salim, chairman of Electro Mart Limited and Central Insurance Company Limited, was elected chairman of NCC Bank.
In May 2019, a Bangladesh Financial Intelligence Unit investigation found Mosleh Uddin Ahmed, managing director of NCC Bank, had abnormal bank deposits.
The board of directors of the bank decided to have a meeting over the issue and sought an explanation from Ahmed.
Three financial banks, Dutch Bangla Bank Limited, NCC Bank Limited, and Prime Bank, were victims of cyberattacks in May.
Dutch Bangla Bank Limited lost three million USD to the hackers, while the other banks maintained that they did not lose any money.
Md Nurun Newaz Salim was re-elected chairman of NCC Bank.
On 30 December 2020, Mohammad Mamdudur Rashid was appointed managing director of NCC Bank. On 5 September 2021, Md Abul Bashar was elected chairman of NCC Bank.
In August 2022, the bank approved issuance of a five billion BDT bond with the aim of meeting the Tier 2 capital requirements of
Basel III
Basel III is the third of three Basel Accords, a framework that sets international standards and minimums for bank capital requirements, Stress test (financial), stress tests, liquidity regulations, and Leverage (finance), leverage, with the goa ...
. Md Abul Bashar was re-elected chairman of the bank in September.
Board of directors
References
External links
Banks of Bangladesh
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