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The Premier Bank PLC.

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The Premier Bank PLC.(AAA rating-2023)
Company typePublic Limited Company
IndustryBanking
Founded1999
Headquarters42 Kemal Ataturk Avenue, Banani,
Dhaka
,
Bangladesh
Number of locations
118 Branches, 10 Sub-Branches, 186 Agent Outlets
Area served
Bangladesh
Key people
  • HBM Iqbal (Chairman)
  • Shafiqur Rahman (Founder & Director) Mohammad Abu Jafar, (MD & CEO)
[1]
ServicesRetail banking, corporate banking, credit cards
RevenueIncrease ৳12,951.78 million (2019)[2]
Increase ৳7,317.46 million (2019)[2]
Total assetsIncrease ৳261,900,49 million (2019)[2]
Number of employees
Increase 1,947 (2019)[2]
SubsidiariesPremier Bank Securities Limited [2]
Websitewww.premierbankltd.com

The Premier Bank PLC. is a private commercial bank with its registered office in Banani, Dhaka, Bangladesh.[3][4] Dr. H. B. M. Iqbal is the Chairman[5] and Shafiqur Rahman is one of the founders and director of this Bank.[6] Mohammad Abu Jafar, is the current managing director & CEO.[7]

Agrabad Corporate Branch, Chittagong.

History

[edit]

The Premier Bank Limited was incorporated on 10 June 1999.[3][8] Bangladesh Premier league sold its tickets in 2013 from branches of the bank.[9]

In June 2005, Bangladesh Bank fined Premier Bank Limited for failing to comply with Know Your Client (KYC) requirements.[10] Bangladesh Securities and Exchange Commission sued HBM Iqbal for using fake accounts in the stock market.[11] Bangladesh Bank carried out its investigation of the accounts.[12]

Khondker Fazle Rashid was appointed managing director of Premier Bank in October 2007.[13]

In February 2008, M Shah Alam Sarwar was appointed managing director of Premier Bank.[14]

In 2013, Bangladesh Bank launched an investigation into an allegations against Bank's then vice chairman Bazlul Haque Haroon.[15] A client of the bank, Khalilur Rahman, claimed that bank's then vice chairman BH Haroon, stole Tk 134 crore from his account in 2008 in collusion with some bank officials. Khalilur, got a Tk 203 crore work order for building 15,000 houses in Sidr affected areas in southern Bangladesh in June 2008. The project was funded by the Saudi government. Khalilur opened an account with Bangshal branch of Premier Bank to make transactions for the project. He received Tk 203.06 crore from the Saudi government through seven cheques. Khalilur withdrew Tk 69.11 crore from the account, and kept the remaining Tk 133.95 crore deposited in his account.[16] After primary investigation, The Anti-Corruption Commission has found evidence of embezzlement of Tk 62 crore from the account of a client of Premier Bank's Bangshal branch.[17] Premier Bank sued nine bank officials accusing them of embezzling about 593.4 million BDT from bank along with Bismillah Towels Group.

In 2014 the Bank was fined 2 million Bangladesh taka for money laundering along with seven other banks.[18]

In 2016, money 4 million taka was stolen from ATMs of the bank using cloned Saudi Arabian credit cards.[19]

National Board of Revenue moved to freeze the accounts of Premier Bank in November 2017 over allegations of tax embezzlement.[20]

The Anti-Corruption Commission summoned Bazlul Haque Haroon in 2018, director of Premier Bank, over the 2013 Bangladesh Bank investigation.[21]

In December 2022, Premier Bank announced plans to raise six billion BDT through the sale of bonds.[22]

Premier Bank announced a 10.24 billion year profit in January 2023.[23] Premier Bank donated 40 million BDT to Prime Minister Sheikh Hasina's Ashrayan-2 project.[24]

Board of directors

[edit]
Name Designation Reference
H. B. M. Iqbal Chairman [25]
Moin Iqbal Vice-Chairman [25]
B. H. Haroon Director [25]
Abdus Salam Murshedy Director [25]
Mohammad Imran Iqbal Director [25]
Shafiqur Rahman Director [25]
Jamal G Ahmed Director [25]
Nahyan Haroon Director [25]
Shaila Shelley Khan Director [25]
Yeh Cheng Min Director [25]
Naba Gopal Banik Independent Director [25]
Kaiser Ahmed Chowdhury Independent Director [25]
Mohammad Abu Jafar Chief Executive Officer and Managing Director [25]

References

[edit]
  1. ^ https://www.thedailystar.net/business/news/mohammad-abu-jafar-new-managing-director-premier-bank-3594406
  2. ^ a b c d e "Annual Report 2019" (PDF). The Premier Bank Ltd. Retrieved 13 February 2021.
  3. ^ a b Mazid, Muhammad Abdul. "Premier Bank Limited". Banglapedia. Retrieved 31 October 2016.
  4. ^ "Premier Bank signs MoU with CPTU". The Financial Express. Dhaka. Retrieved 31 October 2016.
  5. ^ "Chairman - Home". premierbankltd.com. Retrieved 2021-11-06.
  6. ^ "Director's Profile - Home". premierbankltd.com. Retrieved 2021-11-06.
  7. ^ https://today.thefinancialexpress.com.bd/stock-corporate/mohammad-abu-jafar-appointed-md-ceo-of-premier-bank-1713986741
  8. ^ Rahman, Md Fazlur (2022-10-26). "Premier Bank to grow further on new trends". The Daily Star. Retrieved 2023-03-31.
  9. ^ "Premier Bank to sell BPL tickets". The Daily Star. 14 January 2013. Retrieved 31 October 2016.
  10. ^ "BB fines Premier Bank Tk 1 lakh". The Daily Star. Retrieved 2023-03-31.
  11. ^ "Premier Bank Scam". The Daily Star. Retrieved 2023-04-01.
  12. ^ "BB starts probe into Premier Bank scam". The Daily Star. Retrieved 2023-04-01.
  13. ^ "New MD of Premier Bank". The Daily Star. 2007-10-31. Retrieved 2023-04-01.
  14. ^ "Premier Bank gets new MD". The Daily Star. 2009-02-24. Retrieved 2023-03-31.
  15. ^ "Premier Bank scam: ACC summons AL MP Haroon". The Daily Star. 2018-04-03. Retrieved 2021-11-07.
  16. ^ "Allegation of cheque fraud of Tk134cr against MP Harun". Dhaka Tribune. 2017-05-20. Retrieved 2021-11-07.
  17. ^ Rahman, Sajjadur (2014-07-04). "Tk 134 crore vanishes". The Daily Star. Retrieved 2021-11-07.
  18. ^ "Eight banks fined under money laundering act". bdnews24.com. Retrieved 31 October 2016.
  19. ^ "Another ATM fraud". The Daily Star. 3 March 2016. Retrieved 31 October 2016.
  20. ^ Parvez, Sohel (2017-11-01). "NBR seeks to freeze Premier Bank's account". The Daily Star. Retrieved 2023-03-31.
  21. ^ "Premier Bank scam: ACC summons AL MP Haroon". The Daily Star. 2018-04-03. Retrieved 2023-03-31.
  22. ^ "Premier Bank to raise Tk 600cr thru bonds". The Daily Star. 2022-12-05. Retrieved 2023-03-31.
  23. ^ "Premier Bank logs Tk 1,024cr profit". The Daily Star. 2023-01-15. Retrieved 2023-03-31.
  24. ^ "Premier Bank donates Tk4 crore to PM's fund for Ashrayan-2 project". The Business Standard. 2023-01-15. Retrieved 2023-04-01.
  25. ^ a b c d e f g h i j k l m "Board of Directors". premierbankltd.com. Retrieved 2023-04-01.


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