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Habib Bank Limited a Pakistani commercial bank that started business in Bangladesh on 9 July 1976 with two branches, one at dhaka and the other at chittagong. The assigned capital of the bank at the time of commencing business in Bangladesh was Tk 2 million, which was later increased in different times and stood at Tk 116.40 million on 31 December 1999. In 2000, bangladesh bank re-fixed the amount of required capital for foreign banks in Bangladesh at $10 million (equivalent to Tk 540 million). Total shareholders' equity of Habib Bank in Bangladesh was valued at Tk 462.94 million in 2000, when its total liabilities were Tk 1,614.70 million. Total deposits of the bank in December 2000 amounted to Tk 923.18 million, which comprised fixed, current, savings and other deposits including bills payable. The interest offered by the bank on various types of its deposits varied between 6.5% and 10%. Total loans and advances of the bank in Bangladesh stood at Tk 819.02 million on 31 December 2000. Major areas of lending of the bank were small, medium and large scale industries, working capital financing, exports and import servicing, trade and other commercial loans. The lending rates were between 10% and 15.5%. In 2000, the bank had classified loans of Tk 72.4 million. Foreign exchange business handled by the bank in 2000 amounted to Tk 3,718 million, which comprised export servicing Tk 912 million, import financing Tk 2,700 million and remittance services Tk 106 million. Investments of the bank throughout the whole period of its operations in Bangladesh were mostly in government treasury bills of different maturities and prize bonds and in 2000, they totaled Tk 320.07 million. That year the total assets of the bank were valued at Tk 1,614.70 million and the off-balance sheet items accounted for Tk 813.08 million. In 2000, Habib Bank earned a net profit of Tk 40.28 million.
The executive vice president of the bank, designated
as country manager, is the chief executive officer. In December 2000,
the bank had 70 employees. Its main office in Bangladesh is at Dhaka.
[S M Mahfuzur Rahman] |
