Prime Bank recognized as Asia’s one of the best in proactive COVID-19 response  

 Prime Bank Limited has earned international recognition as Asia’s one of the best in its proactive response to COVID-19 pandemic.

London-based reputed media publication, Euromoney, has conferred 'Excellence in Leadership in Asia 2020 Award' to Prime Bank in recognition of the bank’s large scale initiative to safeguard interests of the customers and safety of the employees in the wake of COVID-19.   

This is a unique feat for Prime Bank as it is the only bank from South Asia to earn the title in 2020. The honor has put Prime Bank in the exclusive echelon along with global heavyweights like Goldman Sachs and Royal Bank of Canada in the North America, BNP Paribas and Credit Agricole in Europe, HSBC in the Middle East, Citi NA and DBS Singapore in Asia who won the title in 2020.

This international award comes in 2020 which marks 25 years journey of Prime Bank in the country’s economic development and national progress. In this very anniversary year, the bank has also won ‘Best Bank in Bangladesh Award’ from New York based Global Finance magazine. The bank’s digital banking initiatives has been recognized by Hong Kong based financial publication, AsiaMoney, with ‘Best Digital Bank Award in Bangladesh’.

Euromoney's Awards for Excellence are the awards that matter to the banks and bankers who matter. More than 1,000 corporate organizations from five continents vie for the international accolade.

In the award citation, Euromoney said: “Prime Bank has barely paused during the Covid-19 crisis. The Dhaka-based bank was an early mover on coronavirus in south Asia, raising awareness of the pandemic among employees as early as January 30. As the virus took a grip on the region, Prime Bank, under the leadership of managing director and CEO Rahel Ahmed, found new ways to help workers and customers alike. Since the start of the year it has joined forces in Bangladesh with five domestic NGOs, including the Bidyanondo and Jaago foundations, to raise much needed funds for under-pressure communities.”

“It has shown consistent willingness to be a leader in its home market in the last few turbulent months by promoting awareness of cybersecurity and fraud prevention, and by forming partnerships with hospitals and health centres in a country that struggles to meet the medical needs of its citizens at the best of times. Employees working from home have been given a free pass to speak – virtually, via Zoom and Webex – with health experts at 25 hospitals nationwide. Prime Bank has also been at the forefront of a national effort to support companies that drive invaluable export earnings. It has channelled a sizeable portion of a $590 million government stimulus package to customers in the apparel sector,” the Euromoney continued.

On getting international laurels, Rahel Ahmed, Managing Director and CEO, Prime Bank, said: “It is a great honor and a matter of great pride for Prime Bank Family to be recognized as one of the best in Asia in COVID-19 response. From the day one of the outbreak, we put utmost priority on well-being and safety of our colleagues, our customers and the community. We took some proactive and quick measures to adapt to the evolving situation as COVID-19 crisis unfolded. We have been able to continue to provide uninterrupted services to the valued clientelle at the same time ensuring safety and security of the frontline staff. We allowed work from home for the majority of the employees while not permitting any compromise on quality of customer service.”

He added: “Our proactive approach to effectively implement the Business Continuity Plan at the very beginning of the outbreak was key in enabling us in providing seamless services to the customers all through the difficult time. This global recognition will inspire us to take bold steps in fighting global crisis and enable setting benchmark in practices in Bangladesh banking industry. We will continue to fight the virus together and we will emerge through this unprecedented crisis stronger together.”

 -rmc/