Uttara Bank Limited

Uttara Bank Limited is one of the largest and oldest private sector commercial banks in Bangladesh.[4] There are 243 branches at home and 600 affiliates worldwide.[4] Azharul Islam, chairman of Aftab Group, is the chairman of Uttara Bank Limited.[5]

Uttara Bank Limited
TypePrivate (Non-Government)
DSEUTTARABANK
IndustryBanking
FoundedDhaka, Bangladesh (1965)
Headquarters90 Motijheel, Dhaka, Bangladesh
Key people
  • Azharul Islam (chairman)
  • Iftekharul Islam (vice-chair)
  • Mohammed Rabiul Hossain (managing director & CEO)
[1]
ProductsGeneral Banking
Retail Banking
Consumer Banking
Corporate Banking
Investment Banking
SME Banking
Increase 222 crore (US$24 million) [2]
Number of employees
3,462 persons [3]
Websitewww.uttarabank-bd.com

HistoryEdit

Uttara Bank Limited (UBL) was established in 1965 with the head office located at Motijheel in Dhaka, East Pakistan as a scheduled bank of the Eastern Banking Corporation.[4] After the Independence of Bangladesh following the Bangladesh Liberation War, the bank was nationalized under Bangladesh Banks (Nationalisation) Order 1972 and renamed it Uttara Bank.[4]

On 15 September 1983, Uttara Bank became a private limited bank.[4] It is listed on Chittagong Stock Exchange and Dhaka Stock Exchange.[4]

On 23 December 2003, Md Mahfuzus Subhan, a retired cadre of East Pakistan Civil Service, was appointed chairman of Uttara Bank Limited.[6]

In April 2007, Uttara Bank Limited was part of a syndicate led by Dhaka Bank and composed of Premier Bank Limited and AB Bank to provide a 680 million BDT loan to Capital Board Mills Limited, a subsidiary of Capital Paper and Pulp Industries Limited.[7]

In 2008, following instructions of Bangladesh Securities and Exchange Commission Uttara Bank Limited appointed independent directors.[8]

Two bank officials including a branch manager and two businessmen were sentenced to life imprisonment for embezzlement of 40 million BDT in April 2016.[9] On 10 May, Mohammed Rabiul Hossain was appointed CEO and managing director of Uttara Bank Limited.[10]

In 2019, Uttara Bank Limited provided a 7 per cent cash dividend and 23 per cent stock dividend.[11]

Uttara Bank Limited saw profits decline 26 per cent from July to September 2022.[12] Iftekharul Islam, managing director of Aftab Group, was elected vice-chairman of Uttara Bank Limited.[13] The bank opened it's 244th branch at Teknaf, Coxʹs Bazar District.[14]

StructureEdit

Uttara Bank Limited has 243 branches and 17 sub-branches in Bangladesh. The bank's internal and external operational activities is operated by twelve zones in different regions of the country. It operates through a number of online branches and authorised dealer branches. It is also affiliated with nearly 600 financial institutions worldwide. The Board of Directors consists of 15 members. The Head Office is located at Bank's own 18-storied building at 90, Motijheel C/A, the commercial center of the capital, Dhaka.

Despite the recent crisis in the Bangladeshi banking sector, Uttara Bank is maintaining a decent financial health. Bonik Barta, a financial daily newspaper has declared this bank as one of the strongest banks of Bangladesh based on seven indices.[15]

ReferencesEdit

  1. ^ "Photo: Uttara Bank Limited". The Financial Express. Dhaka. Retrieved 2016-05-01.
  2. ^ "Company Information - UTTARABANK".
  3. ^ "Uttara Bank Ltd".
  4. ^ a b c d e f Mazid, Muhammad Abdul (8 July 2021). "Uttara Bank Limited". Banglapedia. Retrieved 3 February 2023.
  5. ^ "Uttara Bank Ltd". www.uttarabank-bd.com. Retrieved 2023-02-03.
  6. ^ "New chairman of Uttara Bank". The Daily Star. Retrieved 2023-02-03.
  7. ^ "The Daily Star Web Edition Vol. 5 Num 1029". archive.thedailystar.net. Retrieved 2023-02-03.
  8. ^ Rahman, Sajjadur (2008-04-08). "Setback for corporate governance". The Daily Star. Retrieved 2023-02-03.
  9. ^ "Four including Uttara Bank officials get life imprisonment for embezzlement". bdnews24.com. Retrieved 2016-05-01.
  10. ^ "New MD for Uttara Bank". The Daily Star. 2016-05-10. Retrieved 2023-02-03.
  11. ^ Express, The Financial. "Uttara Bank revises dividend declaration for 2019". The Financial Express. Retrieved 2023-02-03.
  12. ^ "Uttara Bank's profit falls 26% in July-September". The Daily Star. 2022-10-25. Retrieved 2023-02-03.
  13. ^ "Iftekharul Islam re-elected Uttara Bank vice-chairman". The Daily Star. 2022-05-18. Retrieved 2023-02-03.
  14. ^ "Uttara Bank inaugurates 244th branch". www.dhakatribune.com. 2022-08-17. Retrieved 2023-02-03.
  15. ^ শীর্ষে ডাচ্-বাংলা, ইস্টার্ন ও ইসলামী ব্যাংক [At the top are Dutch-Bangla, Eastern and Islami Bank]. Bonik Barta (in Bengali). Archived from the original on 2013-08-02.

External linksEdit