The operating profit of Social Islami Bank Limited (SIBL) whopped to Tk
3.2 billion in the calendar year 2011, a record 85.22 per cent rise
against the previous year.
"We have achieved tremendous growth in all areas of business in the outgoing year due to adoption of prudent business strategies through dedicated professionalism and we think the new year will be a 'golden year' for our bank," Managing Director of the bank Muhammad Ali told the FE in an interview recently.
Putting a thrust on 'financial inclusion', the SIBL MD said, the bank has taken a vigorous move to include the general masses under the banking facilities which will ultimately help spur the economic development of teeming millions.
Financial inclusion of the poorest, particularly their access to small-sized credit for income generating self-employment activities is a major tool in Bangladesh for combating poverty. Financial inclusion is viewed as a high policy priority in Bangladesh, for more inclusive and more equitable economic growth, the SIBL MD said.
The bank's deposit, investment, import, export and remittance rose to Tk 67.13 billion, Tk 53.90 billion, Tk 68.20 billion, Tk 34.97 billion and Tk 5.13 billion respectively in the period ended December 31, 2011 against Tk 44.85 billion, Tk 36.68 billion, Tk 39.46 billion, Tk 21.37 billion and Tk 2.11 billion of 2010.
The SIBL chief executive, a career banker said that adoption of various IT-enabled services helped the bank achieve the resounding successes. A 'centralized Islamic core banking solution' has been launched successfully in recent months.
"Due to this connectivity, the data migration among all the 76 branches of SIBL has been completed," Mr Muhammad Ali added.
The focused areas of SIBL are SME, agro-finance, remittance and alternative delivery channel.
A second generation bank, SIBL has now 76 branches with two subsidiary companies- SIBL Securities Ltd and SIBL Investment Ltd. The bank recently opened a regional office in Chittagong to monitor the activities of 14 branches in greater Chittagong and Noakhali zone.
In tandem with the bank's gradual development, SIBL recently changed the logo and shifted its head quarters from a 'small building' of Motihjeel to 'City Centre', the tallest building of the country.
"We have a vision to become a top private commercial bank and only the tallest building can help implement that vision," the SIBL MD said drawing an analogy between the old office and the new office.
The bank recently launched another campaign-united we stand-to ensure quality banking service.
The bank recently launched a new product on school banking titled 'Young Star Account'.
The bank earlier launched products titled Sonali Din, Shomridhir Shopan, Shachondo Protidin, Swapner Shiri, Shukher Thikana, Sabuj Chhaya, Shabuj Shayanho, Subarnalata, Subarnarekha, Shanchita and Zameel ATM Debit Card.
In testimony to the bank's growing progress, CRISL rated it A+ in long term and ST-2 in short term.
FE Report
"We have achieved tremendous growth in all areas of business in the outgoing year due to adoption of prudent business strategies through dedicated professionalism and we think the new year will be a 'golden year' for our bank," Managing Director of the bank Muhammad Ali told the FE in an interview recently.
Putting a thrust on 'financial inclusion', the SIBL MD said, the bank has taken a vigorous move to include the general masses under the banking facilities which will ultimately help spur the economic development of teeming millions.
Financial inclusion of the poorest, particularly their access to small-sized credit for income generating self-employment activities is a major tool in Bangladesh for combating poverty. Financial inclusion is viewed as a high policy priority in Bangladesh, for more inclusive and more equitable economic growth, the SIBL MD said.
The bank's deposit, investment, import, export and remittance rose to Tk 67.13 billion, Tk 53.90 billion, Tk 68.20 billion, Tk 34.97 billion and Tk 5.13 billion respectively in the period ended December 31, 2011 against Tk 44.85 billion, Tk 36.68 billion, Tk 39.46 billion, Tk 21.37 billion and Tk 2.11 billion of 2010.
The SIBL chief executive, a career banker said that adoption of various IT-enabled services helped the bank achieve the resounding successes. A 'centralized Islamic core banking solution' has been launched successfully in recent months.
"Due to this connectivity, the data migration among all the 76 branches of SIBL has been completed," Mr Muhammad Ali added.
The focused areas of SIBL are SME, agro-finance, remittance and alternative delivery channel.
A second generation bank, SIBL has now 76 branches with two subsidiary companies- SIBL Securities Ltd and SIBL Investment Ltd. The bank recently opened a regional office in Chittagong to monitor the activities of 14 branches in greater Chittagong and Noakhali zone.
In tandem with the bank's gradual development, SIBL recently changed the logo and shifted its head quarters from a 'small building' of Motihjeel to 'City Centre', the tallest building of the country.
"We have a vision to become a top private commercial bank and only the tallest building can help implement that vision," the SIBL MD said drawing an analogy between the old office and the new office.
The bank recently launched another campaign-united we stand-to ensure quality banking service.
The bank recently launched a new product on school banking titled 'Young Star Account'.
The bank earlier launched products titled Sonali Din, Shomridhir Shopan, Shachondo Protidin, Swapner Shiri, Shukher Thikana, Sabuj Chhaya, Shabuj Shayanho, Subarnalata, Subarnarekha, Shanchita and Zameel ATM Debit Card.
In testimony to the bank's growing progress, CRISL rated it A+ in long term and ST-2 in short term.
FE Report
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