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6 years ago

Mercantile Bank aims higher as founding day nears

The bank's MD says, marking its 19th anniversary

Kazi Masihur Rahman
Kazi Masihur Rahman

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Mercantile Bank Limited (MBL) has emerged as one of the top private commercial banks (PCBs) in terms of the overall business growth, its top executive said.

"We are a third generation PCB, but in many cases, we have surpassed the achievements of some first and second generation PCBs as far as business growth and other parameters are concerned," Managing Director & CEO of Mercantile Bank Ltd Kazi Masihur Rahman said.

He was talking to a selected group of journalists recently, marking the bank's 19th anniversary.

"It has been possible because of our unfeigned commitment, diligent, assiduous and prudent delivery of services to our clients, customers and depositors," he said.

The bank commenced its business operation on June 2, 1999.

Explaining different prodigious successes of the bank, the MD said the bank made a significant contribution to promote the country's growing trade and businesses during the last two decades.

Highly sophisticated textile, garments, food processing, cement clinkers, steel mills etc are being financed by the bank.

"We are undertaking process reengineering to smartly and quickly serve the valued customers. We plan to expand MBL lending activities towards retail and small & medium entrepreneurs (SMEs) this year also to spur the business growth," said Mr Rahman, a career banker.

"Simultaneously, we are refocusing on sustainable long-term growth of business, better deposit mix, improving the quality of assets, rationalising operating cost, improving operational efficiency and productivity of resources, better and faster customer services."

MBL is continuously expanding its ATM network (162 booths) and linking contact with other banks with a view to making its card service more attractive and convenient to all. Besides, MBL is also providing other services through its two subsidiary companies at home and abroad.

The two subsidiary companies are Mercantile Bank Securities Ltd and Mercantile Exchange House (UK) Ltd.

MBL has broad network coverage across the country. It has 129 branches.

As on March 31, 2018, the bank's deposit base rose to Tk 216.97 billion. Loan and advance portfolio stood at Tk 203.01 billion.

The export value increased to Tk 134.75 billion, import Tk 190.75 billion and remittance Tk 29.97 billion till December, 2017.

The operating profit of the bank rose to Tk 1.67 billion till March 31, 2018, while the balance sheet portfolio stood at Tk 262.78 billion.

"The profit growth momentum bears the testimony that despite the challenges in and around us, we performed well in terms of our financial result by achieving targets almost on all sectors of our banking operations," said Mr Rahman.

"We are continuously putting due emphasis on strengthening our IT platform and, at the same time, continuously providing more IT-based solutions for our customers and for improving our operations workflow."

From the beginning, MBL has adopted modern technologies to provide fast track customer-centric services to the clients.

MBL is using TEMENOS T24 (R-ten Version), a core banking solution (CBS) regarded as the leading banking software in the world, in its every  branches and head office, and providing uninterrupted online banking facilities among all branches.

"We are rapidly preparing to install the latest version of TEMENOS T24," said the bank boss.

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