Bangladesh Development Bank

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]

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
  • Shamima Nargis (Chairman)
  • Md. Habibur Rahman Gazi(MD)
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

History

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
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
  1. "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. "Bangladesh Development Bank Limited (BDBL)". www.bdbl.com.bd. Retrieved 2022-10-20.
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