Company Overview

Bank Asia is a third generation public limited commercial bank. It received the Certificate of
Incorporation on September 28, 1999 and came to operation on November 27, 1999. Now after
18 faithful years of dedicated and reliable services, Bank Asia has created an envious position
for itself among the leading banks of the country. But most importantly, the Bank has an
unsurpassed legacy attached with its image
Bank Asia has been launched by a group of successful entrepreneurs with recognized standing
in the society. The management of the Bank consists of a team led by senior bankers with
decades of experience in national and international markets. A group of professionals many of
whom have exposure in the international market ably supports the senior management team. It
set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in
the banking history of Bangladesh. It again repeated the performance by acquiring the
Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank. In the year
2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of
the shares of the Bank, which was a record (55 times) in our capital market's history and its
shares commands respectable premium. The asset and liability growth has been remarkable.
Bank Asia has been actively participating in the local money market as well as foreign currency
market without exposing the Bank to vulnerable positions. The Bank's investment in Treasury
Bills and other securities went up noticeably opening up opportunities for enhancing income in
the context of a regime of gradual interest rate decline. Bank Asia Limited started its service
with a vision to serve people with modern and innovative banking products and services at
affordable charge. Being parallel to the innovative technology the Bank is offering online
banking with added delivery channels like ATM, Tele-banking, SMS and Net Banking. In
addition, as part of the bank's commitment to provide all modern and value added banking
service in keeping with the very best standard in a globalize world.
The head office of Bank Asia Limited is situated in Rangs Tower 68 Purana Paltan (1st Floor)
Dhaka-1000, Bangladesh. There are total 109 Branches and 129 ATM booths now in
Bangladesh. Soon they are going to extend their branches in different parts of the regions in
Bangladesh.
 Retail products and services

Deposits Accounts

 Savings account

Savings accounts are open for the purpose of savings. Generally, Customer can deposit and
withdraws money one time in a single working day. Now a days in the savings account deposit
and withdraws money more then one time by the permission. Some times without any
permission like by the Credit card a customer can withdraw money several times in the whole
day. Customers receive the interest against there savings. They get the rate of interest of 6% in a
economic year. For the government 10% on the interest amount are deducting as an income tax.
For the maintaining of savings account the Bank Asia deduct Tk.300 in six month tenure and vat
is 45 so that yearly Tk.690.For open a savings account customer will have to deposit at least
Tk.500. for the withdraws of money account holder can use the cheque or there ATM card.

 The Bank provides customer a 10leaf cheque book and an ATM card for the requisition of the
customer.

 Current account
Current account is a account there a customer can deposit money and withdraws   several times
in a working day. In this account there is no interest rate. Customers are just maintaining this
kind of account for transaction. This account is open for the industrials or for the business
purpose. Individuals are not interested to open this kind of account. Against this account
customer can make overdraft on this account. Bank fix the overdraft limit, up to this limit
account holder can take the advantage. But against the overdraft amount, customers will have to
pay 15%-17% interest. Customer can withdraw money by the cheque. For the current account
there is a cheque book which contain # 50 leaf cheque book
 STD (short term deposit)
This type of account is opened and operated for short term and for specific purpose. It is also an
interest bearing accounts and rate of interest is 6%. The rates of interest on such types of deposits
are lower because the bank holds the fund for a short period only. Normally, interest is paid on
daily product basis. Individuals, Firm, Companies, and Associations may open this account.
  FDR (fixed deposit receipt)

There are people who have surplus funds which will not be required by them in near future.
Such people want to keep funds in a bank for a specific and long period to earn more interest.
The duration of these accounts varies. For different duration interest paid

is also different. As the duration increases, rate of interest also increases. Fixed Deposits are kept
with the bank for a fixed amount of time and the depositor gets a certain amount of interest from
it. After the period is over, the depositor can encash the deposit and take the whole amount or
may again open another FDR.

Fixed deposits are important sources of funds to the bank. These add to the stability and growth
of the bank’s deposit structure.

Interest rate:

For 1 month           :               8%

For 2 months period:                 8%

For 3 months period:                 9.50%

For 6 months period:                 9.50%

For 1 year period & above:       9.50%

 Tasks Related with FDR

Fixed Deposits are kept with the bank for a fixed amount of time and the depositor gets a certain
amount of interest from it. After the period is over, the depositor can encash the deposit and take
the whole amount or may again open another FDR. FDR also includes opening an account. FDR
is opened from the Customer Service & Remittance desk and also encashed from this very desk.

 Deposit pension scheme

The deposit pension scheme is a kind of savings scheme where customers save certain amount of
money in every month and after the maturity they will receive a good amount of money at a
total. Deposit monthly installment ranging from Tk. 500/- to Tk.10, 000/- and on maturity the
holder receives a handsome amount as per table below:
 Monthly Payment Payment Payment Payment Payment
deposit After 3 After 5 After 7 After 10 After 12
Years Years Years Years Years
500 21500 41000 65500 115000 160000
1000 43000 82000 131000 230000 320000
2000 86000 164000 262000 460000 640000
3000 129000 246000 393000 690000 960000
4000 172000 328000 524000 920000 1280000
5000 215000 410000 655000 1150000 1600000
8000 344000 656000 1048000 1840000 2560000
10000 430000 820000 1310000 2300000 3200000

Table 9: Deposit Pension Scheme (2)

Features of this product are:

 At the maturity the 10% income Tax should be deduct form the maturity amount and then
pay to the customer.
 Form start the scheme to the maturity, the customer will get advantage of Tax rebate.
 In case of premature liquidation, the applicable interest rate is savings Bank account rate.
 Installment to be made available in Savings Account in due time.

E- Banking
 SMS or Mobile Banking

“Bank in your Mobile”, now a days Mobile reached to all hand. So, it is a very safe way to
satisfy the customer to get information about there account and for the Banks recent all
service.
 Service  Use of the mobile  (Send to 6969)

A/C Balance Enquiry BA<space>ACC<space>PIN Code<space>Source A/C

Fund Transfer BA<space>FTR<space>PIN Code<space>

Source A/C<space>Amount<space>Destination A/C

PIN Change BA<space>PIN<space>PIN Code<space>New PIN Code
Change Mob. Number BA<space>CNG<space>PIN Code<space>New Mob. No.
Unregistered BA<space>CAN
Card Info BA<space>CCD

 Table : SMS or Mobile feature

Online Banking

All branches under online banking system will be able to do banking practices using a common
server (which is centralized) from where only the branches will be able to enter using a common
password.

 Internet Banking

Any one including any client or any branch from any direction will be able to enter in the system
to do banking transactions. Internet Banking Services include the following features:

 Check account balance

 Take print out of account statement for a particular period
 Transfer fund within client’s own account
 Make payment of mobile phone bill
 Enquire foreign exchange rate
 Enquire currency exchange rate
 Acquire information of all the products

Consumer Finance
Auto loan
This product will allow car financing to the customer segment. Under this scheme, the vehicle is
hypothecated to the bank only. In addition to this registration requirement, on a case-to-case
basis, bank may also secure the loan partially by the commonly acceptable form of cash/quasi
cash securities available in the market.
1. Customer Segment
Any Bangladeshi individual who has the means and capacity to repay bank loan; In specific
terms, these could be salaried executives of multinational and middle to large size local
corporate, Government officials, Officials working in reputed NGOs (Non Government
Organizations), international aid agencies & UN bodies, any tax paying businessmen of repute,
any employed / self-employed tax-paying individual having a reliable source of income.
2. Loan Feature
Loan amount Maximum Tk.40,00,000.00 for both Recondition & Brand New Car
Repayment tenure Maximum 5 years for reconditioned car & 6 years for Brand new car.
Payment method- Equal Monthly Installments.
Competitive interest rate
No hidden cost.
3. Eligibility
Age limit: Minimum 23 years, Maximum 65 years at loan maturity
Monthly surplus income (after meeting all expenses) shall be at least Tk. 15,000/-.
For salaried individual, minimum service length of 3 years and must be a confirmed
employee. For self employed individual, a business record of minimum 2 years

House Finance
This product will facilitate the customer to have financing for purchase of flat/house,
construction of new house, extension and renovation of existing house/flats and construction of
semi-pucca house under this scheme.
1. Customer Segment

Any Bangladeshi individual who has the means and capacity to repay bank loan. In specific
terms, these could be salaried executives of multinational and middle to large size local
corporate, Government officials, Officials working in reputed NGOs (Non Government
Organizations), international aid agencies & UN bodies, Doctors, Mariners, Wage earners Land-
Lords any tax paying businessmen of repute, any employed / self-employed/ tax-paying
individual having a reliable source of income.
2. Loan Feature
Loan amount Tk. 5,00,000.00 to Maximum Tk.1,20,00,000.00
Repayment tenure Maximum 25 years including maximum 1 year grace period.
 Payment method- Equal Monthly Installments.
Loan to price ratio-70: 30
Competitive interest rate
No hidden cost.
3. Eligibility
Age limit: Minimum 25 years, Maximum 65 years at loan maturity
Minimum income: Debt burden ratio based
For salaried individual, minimum service length of 02(two) years and must be a
confirmed employee. For self employed individual, a business record of minimum 3 years &
Land lord having substantial rental income.

Loan for professionals

A personal loan scheme meant for professionals only (doctors, engineers, architects, IT
professionals, management consultants etc.) to support their small scale purchase of different
equipment, tools and small machineries for installation at their business sites / offices.
1. Customer Segment

Any Bangladeshi in the following professions as self employed or salaried people:

- Doctors or medical professionals
- Engineers
- Architects
- IT professionals
- Management Consultants
2. Loan Feature
Loan amount Tk.1,00,000.00 to Maximum Tk.10,00,000.00
Repayment tenure Minimum 1 year to Maximum 5 years.
Payment method- Equal Monthly Installments.
Competitive interest rate
No early settlement & partial adjustment fees
No hidden cost.
3. Eligibility
 Age limit: Minimum 25 years, Maximum 65 years at loan maturity
Minimum income Tk. 25,000.00 per month
For salaried individual, must be confirmed employees of a relevant firm. For self
employed individual, a business record of minimum 2 years.

Agriculture/ Rural finance

Agriculture remains the most important sector of Bangladesh economy. Overall economic
development of the country is dependent on the development of agriculture sector. Agriculture
contributes 23% to our GDP. It is inevitable that the food security of the country can be ensured
only through expansion of this prioritized sector. However, as widely identified, one of the major
constraints that has been hindering sustainable growth and development of this sector is scarcity
of fund amongst the poor farmers.

Recognizing this and also to facilitate the same, Bank Asia has been providing agricultural credit
since its inception. The credit facility has been distributed through Direct and Indirect Channels.

The Agricultural Credit Department of the Bank has been working since 2006. Till September,
2012 we have disbursed agri/ rural credit to 1,86,196 beneficiaries through its rural branches as
well as NGO linkages.