Prime Bank PLC. is a public limited commercial bank in

Bangladesh Bangladesh, officially the People's Republic of Bangladesh, is a country in South Asia. It is the List of countries and dependencies by population, eighth-most populous country in the world and among the List of countries and dependencies by ...

with its headquarters in

Dhaka Dhaka ( or ; , ), List of renamed places in Bangladesh, formerly known as Dacca, is the capital city, capital and list of cities and towns in Bangladesh, largest city of Bangladesh. It is one of the list of largest cities, largest and list o ...

. With 146 branches and 170 ATM the bank has operation in corporate, consumer, MSME and sustainable banking. Tanjil Chowdhury, managing director of East Coast Group, is chairman of Prime Bank.

History

Prime Bank was created and commencement of business started on 17 April 1995. Islamic Banking operations of Prime Bank Limited started in the year 1995 through the opening of Islamic banking branch at Dilkusha, Dhaka. The operations of the Islamic banking supervised by Prime Bank Shari’ah Supervisory Committee. It was incorporated under the Companies Act of 1994. The founders of the bank include Azam J Chowdhury, chairman of

East Coast Group East Coast Group () is a Bangladeshi diversified conglomerate based in Dhaka. Azam J. Chowdhury is the chairperson of the company. In 2019, it had 30 subsidiaries and US$4 billion in assets. Tanjil Chowdhury, chairman of Prime Bank Limited, is th ...

. The Bank is traded at the

Dhaka Stock Exchange The Dhaka Stock Exchange (DSE) ( ''Dhaka stôk ekschenj''), located in Nikunja, Dhaka, is one of the two stock exchanges of Bangladesh, the other being the Chittagong Stock Exchange. In January 2023, DSE and Nasdaq announced their partnership ...

and

Chittagong Stock Exchange The Chittagong Stock Exchange () is a stock exchange based in the port city Chittagong, Bangladesh. It is one of the twin financial hubs of the country, alongside the Dhaka Stock Exchange. Established in 1995, the exchange is located in the A ...

. The bank donated 2 million taka for the

Wari-Bateshwar The Wari-Bateshwar ('','' ) ruins in Narsingdi, Dhaka Division, Bangladesh is one of the oldest urban archaeological sites in Bangladesh. Excavation in the site unearthed a fortified urban center, paved roads and suburban dwelling. The site was pr ...

archeological site excavation in May 2008. In February 2009, Bangladesh Bank issued a show cause notice to former top management of the bank, former chairman Salimul Haq and former managing director M Shahjahan Bhuiyan, for irregular transactions during the 2001-2006

Bangladesh Nationalist Party The Bangladesh Nationalist Party (), popularly abbreviated as BNP (), is a major List of political parties in Bangladesh, political party in Bangladesh. It was founded on 1 September 1978 by President of Bangladesh, President Ziaur Rahman, wit ...

government rule. Prime Bank is the title sponsor of the 2013 edition of Bangladesh Premier League cricket tournament. They are also the owners of

Prime Bank Cricket Club Prime Bank Cricket Club, owned by Prime Bank Limited, plays List A cricket List A cricket is a classification of the limited-overs (one-day) form of the sport of cricket, with games lasting up to eight hours. List A cricket includes One Day ...

. In July 2014, Anti-Corruption Commission sued eleven staff of the bank who had embezzled 926.5 million taka from customers using forged papers. Azam J Chowdhury was reelected chairman of the bank in June 2018. In 2020, Prime Bank has launched women banking facilities called ''Neera.'' This banking includes products that help unbankned women achieve financial freedom and independence. Prime Bank has a countrywide programme to drive financial literacy among the unbanked women of the society. In October 2021, the bank received 30 million dollar funding from

British International Investment British International Investment plc, (formerly CDC Group plc, Commonwealth Development Corporation, and Colonial Development Corporation) is the development finance institution of the UK government. The Foreign, Commonwealth and Development Off ...

. Prime Bank issued 6 billion taka in bonds in October 2022. The April to June quarter saw the bank earning increase by 42 per cent.

Subsidiaries

* Prime Exchange Co. Pte (Singapore) Ltd * PBL Finance (Hong Kong) Limited * Prime Bank Foundation * Prime Bank Securities Limited

References

External links

Official Website
Banks of Bangladesh Companies listed on the Dhaka Stock Exchange Banks established in 1995 Banks of Bangladesh with Islamic banking services {{Bangladesh-stub