Report on Basic Bank Ltd
Chapter-01
Organization Part
1.1 Introduction of Organization :
The BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited) established as a banking company under the Companies Act 1913 launched its operation in 1989. It is governed by the Banking Companies Act 1991.
At the outset, the Bank started as a joint venture enterprise of the BCC Foundation with 70 percent shares and Government of Bangladesh with the remaining 30 percent shares. The BCC Foundation being nonfunctional following the closure of the BCCI, the Government of Bangladesh took over 100 percent ownership of the bank on the 4th June 1992. The Bank was established as the policy makers of the country felt the urgency for a bank in the private sector for financing Small Scale Industries (SSIs).
Thus the Bank is state owned. However, the Bank is not nationalized; it operates like a private bank as before.
Adjudged as one of the soundest banks in Bangladesh, BASIC Bank is unique in its objectives. It is a blend of development and commercial banking functions. Fifty percent of its loanable funds require to be invested in small and cottage industries sector.
Steady growth in client base and their high retention rate since Bank’s inception testifies to the immense confidence they repose on its services. Diversified products both liabilities and assets sides particularly a wide range of lending products related to development of small industries and micro enterprises, and commercial and trading activities attract entrepreneurs from varied economic fields. Along with promotion of products special importance is given to individual clients through providing personalized services. In fact individuals matter in this bank. The motto has been followed for development of clientele as well as human resources of the bank. 1.2Approach of BASIC Bank Limited
As a blend of development and commercial banking the bank provides its clients with
Organization Part
1.1 Introduction of Organization :
The BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited) established as a banking company under the Companies Act 1913 launched its operation in 1989. It is governed by the Banking Companies Act 1991.
At the outset, the Bank started as a joint venture enterprise of the BCC Foundation with 70 percent shares and Government of Bangladesh with the remaining 30 percent shares. The BCC Foundation being nonfunctional following the closure of the BCCI, the Government of Bangladesh took over 100 percent ownership of the bank on the 4th June 1992. The Bank was established as the policy makers of the country felt the urgency for a bank in the private sector for financing Small Scale Industries (SSIs).
Thus the Bank is state owned. However, the Bank is not nationalized; it operates like a private bank as before.
Adjudged as one of the soundest banks in Bangladesh, BASIC Bank is unique in its objectives. It is a blend of development and commercial banking functions. Fifty percent of its loanable funds require to be invested in small and cottage industries sector.
Steady growth in client base and their high retention rate since Bank’s inception testifies to the immense confidence they repose on its services. Diversified products both liabilities and assets sides particularly a wide range of lending products related to development of small industries and micro enterprises, and commercial and trading activities attract entrepreneurs from varied economic fields. Along with promotion of products special importance is given to individual clients through providing personalized services. In fact individuals matter in this bank. The motto has been followed for development of clientele as well as human resources of the bank. 1.2Approach of BASIC Bank Limited
As a blend of development and commercial banking the bank provides its clients with
Bibliography: 2. Easterbay-Smith Mark, Richard Thorpe and Andy Lowe, 2002, “Management Research: An introduction” 2nd Edition, SAGE Publications, London, Chapter 3, pp 27-58 3