Mercantile Bank Limited in Dhaka

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comments 5

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  Sk Sami

  :: 30 April 2018 11:57:22

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  Mushfiqur Rahman

  :: 01 April 2018 00:29:26

  Mercantile Bank Limited emerged as a new commercial bank to provide efficient banking services and to contribute socio-economic development of the country. The Bank commenced its operation on June 2, 1999. The Bank provides a broad range of financial services to its customers and corporate clients. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country. Mercantile Bank Limited was established on 20 May 1999; and commenced commercial banking operation on 2 June 1999.[6][7] It is a public limited company with limited liability under the bank companies act, 1991. Its share are listed in Dhaka Stock Exchange and Chittagong Stock Exchange.[8] The bank provide products and services in retail banking, corporate finance, Islamic Finance, asset management, equity brokerage and security. It has 119 branches[9] in Bangladesh and employ around 2,000 employees.[2] Mercantile Bank Limited a third generation private sector scheduled commercial banking company of Bangladesh, incorporated on 20 May 1999 and commenced its business on 2 June 1999. A group of 27 renowned businessmen of different sectors were the sponsors of Mercantile Bank Limited. Md Abdul Jalil was the founder chairman, and ace banker M Taheruddin was the founder Managing Director and CEO of the bank. The registered head office of the Bank is at 61 Dilkusha Commercial area in Dhaka. The initial authorised capital of the bank was Tk. 100.00 crore and paid-up capital was Tk 24.50 crore only. During the span of 12 years the authorised and paid-up capital of the bank stands at Tk 800.00 crore and 407.20 crore respectively. The Bank provides a broad range of financial services to its customers and corporate clients. Fixed deposits, Scheme deposits, Savings deposits, and Short-term deposits from the customers remained the core deposits of the Bank. The Bank emphasised on financing the productive sectors like agriculture and manufacturing including the core areas like Corporate, SME, and Retail etc. MBL also provides facilities under syndication for the corporate customers. The sectors of financing include other key areas of lending including Trading, Engineering, Contractor Finance, Lease Finance, Pharmaceuticals, Housing, Transport, Textile, Glass and Glass product, Plastic and Plastic materials etc. MBL has commenced operations of its Brokerage House, namely 'Mercantile Bank Brokerage House', as a part of capital market operations in 2009. Besides traditional trading, manufacturing, import-export business, Mercantile Bank introduced a few banking products like Double Benefit Deposit Scheme, Monthly Savings Scheme, Monthly Benefit Deposit Scheme, Special Savings Scheme, two specially designed loan schemes, ie Consumer Credit Scheme, Small Loan Scheme for the lower and middle-income group without collateral security at the time of inception. MBL maintains a strong network with the Overseas Exchange Companies and Banks to ensure quicker and safer remittance services. The Bank has signed agreements with different overseas exchange companies including those in USA, Canada, UK, Italy, and Japan etc to facilitate the remitters in sending their money to their beneficiaries. MBL has signed International Representation Agreement with globally reputed Money Transfer Company 'Western Union Services'. An agreement with Bangladesh Post Office (BPO) has been signed for the distribution of inward foreign remittance. BPO provides services through its 450 designated outlets under this arrangement across the country. As a result, a new horizon has been opened for the Bank to extend its remittance services to the doorstep of beneficiaries easily, quickly and safely. MBL looks forward to launch an Exchange House in UK, namely Mercantile Bank Exchange House to make the remittance service convenient for the expatriates living in UK.

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  Abdul Haye

  :: 07 March 2018 11:28:22

  Good experience.

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  Omar faruq Osama

  :: 19 October 2017 04:14:14

  Its near mirpur 10circle. Though it is a busy place, it is useful. Because it is situated beside main road. People can have services easily.

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  Momenul Islam

  :: 18 October 2017 00:27:17

  Mercantile Bank Limited, Razia Mansion, 184 Senpara Parbata, Mirpur 10 no branch. It's crowded place because it't situated beside the crowded market of Mirpur-10 No.