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Friday, 4 December 2020

Bangladesh Commerce Bank Limited

 





Bangladesh Commerce Bank Limited is a private commercial bank in Bangladesh. It was registered as a public limited company on June 1, 1997 under the Companies Act, 1994.









History 





As a non-banking financial institution, the defunct Bangladesh Commerce and Investment Limited was established on 26 January 1986 and continued its business till April 1992. However, due to the liquidity crisis, it failed to operate and in April 1992, it suspended the business activities of Bangladesh Bank. In this situation, the depositors of Bangladesh Commerce and Investment Limited suffered and the officers and employees lost their jobs. The aggrieved depositors and officers-employees started a vigorous movement to protect their interests and alleviate the suffering by re-launching the company in any way. Finally, in order to protect the entire banking sector of the country from contagious losses, the Government of Bangladesh dissolved Bangladesh Commerce and Investment Limited and established Bangladesh Commerce Bank. Conversion of BCIL to BCBL and its business and administrative The Government constituted a 10-member Board of Directors on 8 February 1997 to restructure, implement and manage. The 24 branches of the former BCIL were reorganized and introduced as full-fledged branches of the BCBL. Bangladesh Commerce Bank Limited started its commercial banking business on 16 September 1999 as a scheduled commercial bank.





Activities 





A 9-member board of directors nominated by the government approves the overall management control and policy of the bank. Managing Director's Chief Executive. At present (2010) the bank has 454 officers and 25 branches. The former BCIL's training institute is inherited by the bank. It is currently reorganizing and renovating and providing training to its own officers and staff.













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