Bank Asia PLC
Bangladeshi private bank
From Wikipedia, the free encyclopedia
Bank Asia PLC is a private sector commercial bank in Bangladesh.[1] Sohail R. K. Hossain is the current president and managing director of the bank.[2] Romo Rouf Chowdhury, chairman of Rancon Group, is the chairman of Bank Asia Limited.[3]
 | |
Company type | Public Limited Company |
|---|---|
| DSE: BANKASIA CSE: BANKASIA | |
| Industry | Banking |
| Founded | 27 November 1999 |
| Headquarters | Dhaka, Bangladesh |
Key people | (Chairman)
Romo Rouf Chowdhury (Managing director) Sohail R K Hussain |
| Products | Banking services Consumer Banking Corporate Banking Agent Banking Islamic Banking Credit Cards Remmittance Operations Student Files, etc |
| Website | www |
History
The bank was established as a private commercial bank on 28 September 1999, and incorporated in 1999.[1] it expanded through the purchase of the branches of Bank of Nova Scotia and Muslim Commercial Bank Limited.[1] In 2001, it purchased the operations of Scotiabank which entered Bangladesh in 1999.[4][1]
Bank Asia relocated its Nova Scotia branch from Bijoy Sarani to Kazi Nazrul Islam avenue.[5] It signed an agreement with Dutch-Bangla Bank Limited to have access to their automated teller machine network.[6]
In 2008, Bank Asia announced a 25 per cent stock dividends.[7] The bank also introduced Islamic banking.[8]
Bank Asia was awarded third prize in corporate governance disclosures and achieved certificate of merit under integrated reporting category in the 17th ICAB National Award for BPAR-2016.[9]
Bank Asia was awarded the Intellectual Property Protection Award in 2020 by the Bangladesh Copyright Board.[10] It arranged a seven billion taka loan for Bashundhara Group to build a cement plant.[11] Romo Rouf Chowdhury, chairman of Rangs Group, was elected chairman of the bank in August 2022.[12]
On 10 February 2024, Sohial R K Hussain was appointed managing director of Bank Asia Limited.[13] The bank distributed loans to 220 women farmers in June.[14] On 16 April 2024, Bank Asia Limited has changed its name to 'Bank Asia plc'.[15]
