2024

Registered Office
Bana Shilpa Bhaban
73, Motijheel Commercial Area
Dhaka-1000, Bangladesh

Head Office
Sena Kalyan Bhaban
(5th, 6th & 7th Floor)
195, Motijheel Commercial Area, Dhaka-1000

Incorporation
August 02, 1988

Commercial Operation
January 21, 1989

Contacts
Phone : Head off ice: 02-223388190, 02-223359589
ICT Division: 02-223382960, 02-223385087
BASIC Bank Training Institute (BBTI) : 47119578-9
E-mail: basicho@[Link]
[Link]
SWIFT: BKSIBDDH
 LETTER OF TRANSMITTAL

To
The Shareholders
Bangladesh Bank
Bangladesh Securities and Exchange Commission
Registrar of Joint Stock Companies & Firms

Subject: Annual Report of BASIC Bank Limited for the year ended December 31, 2024.

Dear Sir(s)/Madam(s),

We are pleased to present before you the Annual Report 2024 of the Bank together with the
Audited Financial Statements of the Bank for the year ended December 31, 2024 and as on
that date for your kind information and record. The Financial Statements comprise Balance
Sheet, Profit and Loss Account, Cash Flow Statement, Statement of Changes in Equity and
Liquidity Statement along with notes thereon.

With kind regards,

Yours faithfully,

Md. Hasan Imam

Company Secretary
 TABLE OF CONTENTS

01 Corporate Profile 06

02 Vision Statement 08

03 Mission Statement 09

04 Goals & Objectives 10

05 Our Approach 11

06 Forward Looking Statements 13

07 Board of Directors 15

08 Message from the Chairman 28

09 Managing Director’s Speech 31

10 cwiPvjKgÛjxi cÖwZ‡e`b 34
Directors’ Report

11 Report of the Audit Committee 54

12 Report of the Risk Management Committee 56

13 Disclosures on Risk Based Capital Requirement Under Basel-III 58

14 Sustainability Report 74

15 Corporate Governance Practices of the Bank 78

MD & CEO AND CFO’s

16 81
Declaration to the Board on Integrity of Financial Statement

17 Thirty Six Years of BASIC Bank Ltd 82

18 Independent Auditors' Report 92

 TABLE OF CONTENTS

19 Balance Sheet 102

20 Profit & Loss Account 104

21 Statement of Cash Flows 106

22 Statement of Changes in Equity 108

23 Liquidity Statement 109

24 Notes to the Financial Statements 110

25 Schedule of Balance with Other Banks-Outside Bangladesh (Nostro Account) 157

26 Details of Investment in Shares 158

27 Advances Exceeding 10% of Bank's Paid-up Capital 160

28 Schedule of Fixed Assets 161

29 Highlights on the Activities of the Bank 162

30 List of Executives 163

31 Head Office and Branches of the Bank 170

32 List of Sub-Branches 180

33 List of Collection Booth 184

34 List of ATM Booth 185

35 Credit Rating 187

36 Notice of the 34th Annual General Meeting 188

 Corporate Profile
06 | Annual Report 2024
Emergence as Bank: banking industry making banking operation so smooth that
one can easily bank with the mobile he possess for daily
BASIC Bank Limited (Bangladesh Small Industries and

Corporate Profile
communication purposes. In the world of modern era,
Commerce Bank Limited), a 100% state-owned information technology has an enormous effect on
commercial bank, launched its operation on January 21, development of banking services and on its based since
1989 being incorporated as a banking company on beginning BASIC Bank design and diverse its products in
August 2, 1988 under the erstwhile Companies Act 1913. such a way that banking needs of its client is met. Keeping
It is now governed by the Bank Company Act 1991 with its this view in mind, to cater to the need of banking people
amendment from time to time. growing of the smart age BASIC Bank has already started
Mobile App based banking operation named “Magpie”
The Bank came into being as outcome of the pragmatic which under financial inclusion thereby a lot of unbanked
thinking of the policy makers on emergent of a bank in the people will get access to banking services or get
country exclusively to foster advancement of Small Scale opportunity to be connected to BASIC Bank from any
Industries (SSIs) by way of proving financing and remote place of the country. By using this system, a
supervisory guidance as well. At the outset, it was a joint customer does not need to come to Bank in person to
venture enterprise commissioned by the former BCC open an account and to make transactions to some extent.
Foundation, formed by the BCCI (Bank of Credit and
Commerce International founded in 1972 and later Development Partner:
collapsed in July 1991) with 70 percent shares and the
Government of Bangladesh (GOB) with the remaining 30 In addition to regular banking activities, BASIC Bank
percent shares. After the closure of BCCI, BCC works with different local entities like Government bodies,
Foundation became nonfunctional and the Government of NBFIs, reputed MFIs/NGOs and international agencies
Bangladesh then took over 100 percent ownership of the like ADB, as a development partner for implementing
bank on 4th June 1992, thus, it turned as a 100% various development schemes carried out by the
state-owned Bank. government among which Government's Agro-based
Project Financing Scheme, Agribusiness Development
Path-finder of SME concept in Bangladesh: Project & Second Crop Diversification Project involving
the fund of Asian Development Bank (ADB) are worthy of
Long before the concept of SME getting onto surface, mention. The ultimate object of those projects is to create
BASIC is the lone bank in the country which first started rural employment opportunities through scaling up
practicing SME banking in exploring the potential agro-enterprises, encouraging production of High Value
assistance to small investors through providing financial Crops with a view to rising income of rural people and
and advisory support successfully while it kicked off its thus to reduce the extreme poverty.
operation.
BASIC has participated in different SME, Agri and SME
Since inception, BASIC Bank is unique in its objectives Women Entrepreneur fairs organized at different parts of
with blending of development and commercial banking the country by different govt. agencies and organizations,
panorama. Once treated as one of the best specialized like Bangladesh Bank, different Chambers, with its own
banks in Bangladesh it takes pride itself of being the stalls where it has achieved a number of prestigious
pioneer in financing to small and medium scale industries, accolades as recognition of its aesthetic and objective
inspired by its Memorandum with a stipulation that 50 responsibility towards building of a happy society.
percent of loanable fund shall be invested in Small and
Medium Scale industries. Now-a-days, SME is being Financing in Agricultural & Rural Sector:
regarded as one of the accredited tools/engine across the
world as one of the weapons in poverty alleviation, For development of agriculture sector BASIC is
employment generation and women empowerment by concerned from the very beginning of its operation, with
way of creation of new entrepreneurs, job opportunities providing loans to farmers directly at field level, side by
and generating of income as its outcome. side through MFIs linkage, and to different agro-based
processing industries at affordable interest rate. As
Online Banking Facilities: accreditation of contribution to agriculture, BASIC Bank
In a great strides towards achieving a cashless society achieved Bangladesh Bank Governor’s Award from
towards country’s journey to escalating its position to the Bangladesh Bank on different occasions.
geographic of developed countries. BASIC, among the
state-owned banks, is the first in launching of Online Epilogue:
Banking transaction by using state of art technologies
through which anybody can accomplish basic banking Steady growth and high retention rate in clientele base
transactions at his own convenience, wherever he since inception of Bank testifies their immense confidence
want—at home, at work, or on the go. If desire, one can they repose on our services. Diversified products in both
avail himself/herself of any type of banking facilities from liability and asset sides particularly a wide range of
any branch of the Bank-where it does not matter in which lending products relating to development of small and
branch he/she maintains accounts. At present, Bank have medium enterprises, and commercial and trading
72 branches & 37 sub-branches across the country where activities attract entrepreneurs from varied economic
all are well connected on-line so anybody craving for fields. Along with promotion of products special
banking transaction whenever aroused; can be met from importance is given on individual clients in line with
any corner of the territory. individual needs. "Serving people for progress", is the
motto of the Bank which is followed for development of
Mobile Banking: clientele as well as human resources of the Bank.

Today, Mobile Banking is the latest revolution in the

| Annual Report 2024 07

 VISION STATEMENT
To facilitate economic development of the country by
rendering all-out banking services with special emphasis on
finance and promotion of Small and Medium Enterprises.

08 | Annual Report 2024

MISSION STATEMENT
To evolve as the strongest one in the banking industry by
rendering quality and timely services with innovative ideas
towards entrepreneurship development through utilizing
human resources in an effective manner as well as ensuring
corporate governance for overall betterment of the society.

| Annual Report 2024 09

Our Goals
● To invest 50 percent of loanable funds in financing small and medium industries sector;

● To serve the depositors in safekeeping and growing their savings;

● To contract or negotiate all kinds of loans, aid or assistance, private or public, from any
source, local or foreign and to take all such steps as may be required to complete and
effectuate such deals;

● To act as agents for the sale and purchase of any stocks, shares or securities or for any
other monetary or mercantile transactions;

● To guarantee or become liable for the payment of money or for the performance of any
obligation and generally to transact all kinds of guarantee business and also transact all
kinds of agency business;

● To promote the development of small and medium industries and to provide all kinds of
banking facilities and technical services to small and medium industries in Bangladesh;

Our Objectives
● To develop a culture of compassionate banking;

● To establish and open offices and branches to carry on all or any or the above
businesses within the country and abroad, provided prior permission is obtained from the
Bangladesh bank and carry on, transact, undertake and conduct the business of banking
in all its branches and to transact and do all relevant matters and things; and

● To ensure secured banking.

10 | Annual Report 2024

 Our
Approach
| Annual Report 2024 11
 Pioneer in SME financing BASIC Bank, specialized in • To manage credit risk in effective manner, maintain
development banking has already created stance and quality asset and net-worth of the institution and
brand in the banking arena providing its clients with a contain deviation at zero level.
Our Approach

full range of customer franchise services to help them

grow in assets and net worth. • To reshape and redesign Bank’s products and
services to cater to the needs what an individual or
BASIC Bank places particular emphasis on small and a corporate expects in a modern era by way of
medium industries for steady and sustainable growth. introducing mobile app based banking,
Bank offers project loan to develop small and medium sub-branches, agreement with Exchange Houses
scale industrial enterprises for processing and like RIA, Western Union, Agrani Remittance
manufacturing goods and services. Besides, Bank House, different gateway of bringing remittance to
facilitates full-fledged commercial banking services like, the country, online banking facilities, contact less
working capital finance in trading and short term trade ATM card, facility of payment of all utility bills at one
finance along with providing international trade services. point, keeping the client updated with instant
delivery of information on any transaction in
BASIC Bank attaches special importance to technical account by SMS alert and launching of What’s up
and advisory support to small and medium scale based banking transactions, all of whom are to give
industries in order to enable them run their enterprises comfort to its customer in hasty busy life.
smoothly. Under financial inclusion, Bank's diversified its
services which included micro credit to the urban, semi Balance Sheet Management
urban poor people and farmers in rural areas through • To strengthen our capital and asset base and to
linkage with MFIs with a view to facilitate their access to improve our funding positions with adopting
formal financial market for mobilization of resources diversified strategies including recovery of bad
which is another diversification of our services. debt, keeping regular loan on right track, and make
optimum utilization of fund and capital ensuring
Besides, in keeping pace with the competitive and diversified investment with utmost precaution.
rapidly changing financial market of the country,
BASIC Bank maintains close connections with its Customer Service:
clients, regulatory authorities, shareholders (the • To ease and simplify processes and to provide
GOB), other banks and financial institutions. services at no cost, broaden areas of customer
service like Mobile Based Banking App “ Magpie”,
In 2025, bank to adopt strategic planning to place RTGS (Real-Time Gross Settlement), EFTN
it on a strong hold position: (Electronic Fund Transfer Network), core banking
Providing best services and attaining excellence: facilities, ATM Card Operations, engagement of
Alternative Credit Delivery Channel with assistance
• To scale up Bank’s position to a place where once of MFIs to reach the banking services to the door
it existed in terms of name, fame, transparency, steps of the commons.
profitability by engaging all out efforts specially
focusing on recovery heave. • To adopt new technology and confer training home
and abroad to make our human resources updated,
• To bring back glory of being number one bank in efficient and competitive to ensure better customer services.
Bangladesh in all consideration.
Create a sustainable brand:
• To grow product portfolio with focus on SMI need • To ensure good governance, stability, reliability,
based financial services in line with market trust and transparency and to regain ability to
demand under new challenging situation. contribute to the national exchequer through
earning profitability and being branded as SMI
• To continue to extend financing to agriculture and Bank i.e. bank exclusively dedicated for financing
rural sector giving priority to women entrepreneurs to Small & Medium scale Industries, the anthem the
for sustainability and generation of rural bank orchestrates from the beginning.
employment and food security also.
Culturing talent through skill development:
• To drive consumer finance to cater to the need of • To provide on and off the job training for developing
lower middle income group in urban and rural areas; high skilled talent pool, maintain congenial working
atmosphere, motivate, encourage and nurture
• To continue to open new sub-branch to broaden talent base to maintain standard and practice
the coverage of network of banking services aiming corporate culture.
at reaching out the unbanked people under the
approach of financial inclusion.

12 | Annual Report 2024

 Forward
Looking Statements

| Annual Report 2024 13

 This Annual Report contains forward-looking statements are between 10%-20%,
relating to the future business outlook, financial o To expand the number of classification-
Forward Looking Statements

condition, and performance of BASIC Bank Limited. free branches;

These statements appear throughout the report, • Improving operating profit by turning loss-making
including in the Chairman’s Message, Directors’ Report, branches into sustainable, profitable units;
and the Managing Director’s Message, and are based on • Expanding the Bank’s deposit base, particularly
management’s current expectations, plans, strategies, through growth in low-cost deposits such as
assumptions, and projections. savings, current, and STD accounts;
• Enhancing the Bank’s presence in export financing
These statements involve risks, uncertainties, and other and inward remittance channels to boost foreign
factors—many of which are beyond the control of the exchange earnings;
Bank—that may cause actual results to differ materially • Gradual reduction in the Loan-to-Deposit Ratio
from those expressed or implied. While these (LDR) to ensure improved liquidity management;
forward-looking statements reflect the Bank’s intent and • Streamlining operational expenditures and
best efforts to improve its financial health and operational optimizing cost structures;
efficiency, they are not guarantees of future • Gradual mitigation of capital and provisioning
performance. shortfalls, in alignment with regulatory
requirements and ongoing discussions with the
The Bank has faced significant challenges in recent Government;
years, including legacy issues related to loan • Enhancing efficiency through better human
irregularities, a high level of non-performing loans resource deployment and capacity building.
(presently 68.55%), sustained annual operating losses,
and a persistent capital and provision shortfall. Despite In addition, the Bank is actively approaching the
these challenges, BASIC Bank is undertaking a series of Government of Bangladesh—its sole shareholder—for
strategic actions aimed at recovery, stabilization, and necessary capital support to facilitate a turnaround.
eventual turnaround. The Bank is fully committed to Management remains hopeful of receiving timely capital
aligning itself with the financial stability roadmap to be injection and policy guidance to reinforce recovery
outlined by Bangladesh Bank. initiatives.

The core focus of the Bank’s forward-looking strategy It is important to note that the Bank’s forward-looking
includes: projections are made amidst heightened global and
• Aggressive recovery of non-performing loans domestic uncertainties, including ongoing geopolitical
(NPLs), with specific branch-level targets to bring tensions, post-pandemic economic shifts, inflationary
down classified loans: pressures, and vulnerabilities in the financial sector.
o To below 10% in branches where NPLs These may pose additional challenges to the Bank’s
exceed 20% of the total loan portfolio, recovery trajectory.
o To below 5% in branches where NPLs

14 | Annual Report 2024

 Board
of Directors
| Annual Report 2024 15
 Helal Ahmed Chowdhury
Chairman
Board of Directors

Mr. Helal Ahmed Chowdhury was appointed as a Director &

Chairman of the Bank on October 31, 2024 by the Financial
Institutions Division, Ministry of Finance, Government of
Bangladesh and joined on 17.11.2024. Mr. Chowdhury is a
veteran banking professional having around 50 years of
experience with an excellent career profile. He joined Pubali Bank
through Superior Service Exam (1977 Batch) as Class I Officer in
March 1977 and continued in the same bank and became the MD
& CEO & served the bank for 3 terms, which is a very unique and
remarkable achievement. He has more than 38 years of banking
experience at Pubali Bank PLC., where he successfully served in
different positions and leadership roles. He retired as its
Managing Director & CEO on December 06, 2014. Under his
dynamic leadership as the MD & CEO for a period of more than
eight years (2006-2014), Pubali Bank became an institutional role
model of the government turned private commercial bank and
won the prestigious award "Best Financial Institution" given by
DHL and The Daily Star in 2009. Mr. Chowdhury was the key role
player to turn around a problem bank to a top performing &
compliant bank under the supervision of Bangladesh Bank.
Mr. Chowdhury obtained M.S.S. from Chittagong University in the
year 1974. He is an Associate of The Institute of Bankers,
Bangladesh (AIBB). He participated in different training, seminars,
and short and long courses at home and abroad including Oxford and
Cambridge Universities in the UK and UC Berkeley and Columbia
University in the USA. He also undertook orientation training in
Natwest Bank, UK and Sonali Bank UK in 1986-87.
In his career, Mr. Chowdhury received PBL Gold Medal for his
outstanding performance. He was awarded many tributes at
home and abroad including Branch Ambassador of Remittance,
Banker of the year 2008, 2009, 2011, 2012 & 2013 by different
newspapers & organizations, Best Banker, Banker to the Masses,
outstanding performer in CSR etc. He participated in a seminar in
New York, USA. to smooth sending of remittances by our peace
keeping forces. As an ICC Bangladesh Banking Commission
member, he presented paper on delisting in Vienna, Austria and
also visited ICC Head Quarters in Paris, France for discussion on
mutual interest.
Prior to joining BASIC Bank Limited as a Director & Chairman, Mr.
Chowdhury was an Independent Director of Bank Asia PLC. and
the Chairman of BA Express USA Inc., a subsidiary of Bank Asia
PLC in USA. He is a member of the ICC Bangladesh Banking
Commission. Mr. Chowdhury is a Member and former
Vice-Chairman of the Association of Bankers, Bangladesh (ABB).
He also served as an Independent Director of IBBL in 2016. He is a
former Supernumerary Professor and a Board member of the
Bangladesh Institute of Bank Management (BIBM) and a former
General Parshad member of Palli Karma Sahayak Foundation
(PKSF) and also worked for Institute of Micro Finance in a project.
Mr. Chowdhury is engaged with a number of social organizations
and trade bodies in different capacities and works as a resource
person in different training/seminars both at home and abroad
and contributes articles in different newspapers. He is a National
Council member of Bangladesh Diabetic Association, a Life
member of BIRDEM, a Board member of Ibrahim Cardiac, a
Board member of BIHS Hospital and a Finance Committee
member of the University of Health Science, Mirpur. Mr.
Chowdhury is also a member of International Business Forum of
Bangladesh (IBFB), a trade chamber. He has visited many
countries in different regions of the world.
Mr. Helal Ahmed Chowdhury is a member of the Executive
Committee (EC) and the Risk Management Committee (RMC) of
the Board of Directors of the Bank.

16 | Annual Report 2024

 Board of Directors
Munshi Abdul Ahad
Director

Mr. Munshi Abdul Ahad is an Additional Secretary of the

Finance Division, Ministry of Finance, Government of
Bangladesh. He was born in a respectable Muslim family on
May 03, 1967 in the district of Shariatpur. Mr. Ahad was
appointed as a Director of the Bank on April 29, 2025 by the
Financial Institutions Division, Ministry of Finance. He joined
Bangladesh Civil Service in November 1995 and served in
various positions in the Ministry of Agriculture, Ministry of
Public Administration, Statistics and Informatics Division,
Ministry of Planning, Ministry of Commerce and Finance
Division under Ministry of Finance. Prior to joining the Civil
Service, Mr. Ahad started his professional career in 1993 as
a Senior Officer at Janata Bank PLC.

Mr. Ahad obtained Bachelor of Commerce in Finance &

Banking and Master of Commerce in Finance from the
University of Dhaka, Bangladesh. Later, he obtained Master
of Public Affairs in International Economic Relations from
Civil Service College, University of Dhaka. He also
completed Certificate Course on Competition Policy and
Law from East-West University, Dhaka, Bangladesh. Mr.
Ahad has expertise in the fields of Finance, Agribusiness,
Agricultural Marketing, International Economics and
Banking. He has participated in different trainings and
seminars at home and abroad.

Mr. Ahad is also serving as a Government appointed

Director of Nuclear Power Plant Company Bangladesh
Limited (NPCBL), Startup Bangladesh Limited and
Bangladesh Overseas Employment & Services Ltd.
(BOESL).

He is a member of the Executive Committee & the Risk

Management Committee of the Board of Directors of the
Bank.

| Annual Report 2024 17

 Board of Directors
Sheikh Farid
Director

Mr. Sheikh Farid is a Joint Secretary of the Financial

Institutions Division, Ministry of Finance, Government of
Bangladesh. He was born in a respectable Muslim family on
February 28, 1976 in the district of Mymensingh. Mr. Farid
was appointed as a Director of the Bank on March 24, 2025
by the Financial Institutions Division, Ministry of Finance. He
joined Bangladesh Civil Service in May 2003 and served in
various positions including Upazila Nirbahi Officer (UNO)
under Ministry of Public Administration. Mr. Farid served as
Senior Assistant Secretary and Deputy Secretary at the
Macroeconomic and Budget Wing in the Finance Division
under Ministry of Finance. He also served as Director
Finance in the Ministry of Foreign Affairs and
Counsellor/Minister (Political) at the Bangladesh Embassy
in Tokyo. Prior to joining the Civil Service, Mr. Farid started
his professional career in August 2000 as a Probationary
Officer at AB Bank PLC. Later, he joined Bangladesh Bank
as an Assistant Director in May 2001 and continued till
joining the BCS.

Mr. Farid obtained Bachelor of Social Science and Master of

Social Science in Economics from the University of Dhaka,
Bangladesh. He is also a JDS Scholar who did Master of
Science in Economics from Hiroshima University, Japan.
He was awarded with Hiroshima University Excellent
Student Scholarship Award. He has expertise in the fields of
Macroeconomics analysis and forecasting, Fiscal policy and
growth, Poverty analysis, Public administration,
Commercial Banking and Central Banking. Mr. Farid has
participated in different training, seminars, and conferences
at home and abroad. He also has two research publications.

Mr. Farid is fluent in English and Japanese language.

He is the Chairman of the Risk Management Committee & a

member of the Audit Committee of the Board of Directors of
the Bank.

18 | Annual Report 2024

Board of Directors

Md. Matiur Rahman, FCA, FCMA

Director

Mr. Md. Matiur Rahman, an experienced senior management

and financial executive, was appointed as a Director of the
Bank on March 24, 2025 by the Financial Institutions Division,
Ministry of Finance. He was born in a respectable Muslim
family on June 15, 1970 in the district of Narayanganj. Mr.
Rahman obtained Bachelor of Commerce (Honours) and
Master of Commerce in Accounting from the University of
Dhaka. He qualified as a Chartered Accountant as well as a
Cost and Management Accountant in 1999. Mr. Rahman joined
Bangladesh Bank as an Assistant Director in March 1999 and
served there till April 2000. Afterwards, he engaged himself in
the Accounting profession and now he has over 25 years’ of
experience in various positions of the Senior Management in
different organizations.

Mr. Rahman is a Partner of M. Z. Islam & Co., Chartered

Accountants. He is also a shareholder of Highend Secure
Solutions (Pvt.) Limited. He is a life member of SAARC
Chamber of Commerce and Industries, an apex business/trade
organization of South Asian Region. He is also a life member of
Accounting Alumni Association of University of Dhaka. Mr.
Rahman is an expert in International Financial Reporting
Standards, Auditing Standards, Tax Laws, Company Laws and
BSEC Rules and Regulations. He has participated in different
training, seminars, and conferences at home and abroad.

He is the Chairman of the Audit Committee & a member of the

Risk Management Committee of the Board of Directors of the
Bank.

| Annual Report 2024 19

 Board of Directors
Md. Abdul Ahad
Director

Mr. Md. Abdul Ahad was born in a respectable Muslim

family on February 01, 1962 in the district of Satkhira. He
was appointed as a Director of the Bank on May 20, 2025 by
the Financial Institutions Division, Ministry of Finance. Mr.
Ahad joined Bangladesh Civil Service (Admin Cadre) in
February 1988 and served in various positions including
Assistant Commissioner (AC) & Magistrate, NDC &
Magistrate, Upazila Magistrate, Upazila Nirbahi Officer
(UNO), Additional Deputy Commissioner (ADC). He was the
Deputy Commissioner (DC) & District Magistrate of
Rangpur District. As Deputy Secretary he served at the
Budget Wing in the Finance Division under Ministry of
Finance. Then he served as Deputy Secretary in the
Ministry of Disaster Management and Relief. Afterwards, as
Joint Secretary he served in the Ministry of Public Works
and Ministry of Public Administration. Mr. Ahad retired as
Additional Secretary of the Government of Bangladesh. He
participated in different training and seminars at home and
abroad.

Mr. Ahad obtained Bachelor of Social Science and Master

of Social Science in Economics from Jahangirnagar
University, Savar, Dhaka, Bangladesh. Mr. Ahad has
worked as a part-time Lecturer at School of Business in
Ahsanullah University of Science and Technology, Dhaka,
Bangladesh. In addition to his professional career, he has
worked as the Chairman of the governing body of about 50
Schools, Madrashas and Colleges.

Mr. Ahad is the Chairman of the Executive Committee & a

member of the Risk Management Committee of the Board
of Directors of the Bank.

20 | Annual Report 2024

Board of Directors

Dr. Abu Saleh Mostafa Kamal

Director

Dr. Abu Saleh Mostafa Kamal was born in a reputable

Muslim family on January 15, 1966 in the district of
Chuadanga. He was appointed as a Director of the Bank on
May 27, 2025 by the Financial Institutions Division, Ministry
of Finance. Dr. Kamal joined Bangladesh Civil Service
(Admin Cadre) in April 1993 and served in various positions
including Assistant Commissioner (AC) & Magistrate under
Ministry of Public Administration, Assistant Commissioner
(Land) under Ministry of Land and Senior Assistant
Secretary at the Ministry of Public Administration. He served
as Private Secretary to the Secretary and Deputy Secretary
of Ministry of Environment, Forest and Climate Change. As
Deputy Secretary he served at the Ministry of Fisheries and
Livestock. Then he served as the Director (Haj) at the
Ministry of Religious Affairs. As Joint Secretary & Additional
Secretary, Dr. Kamal was posted to the Cabinet Division,
Bangladesh Secretariat, Dhaka. Later, he served as the
Managing Director & CEO (Additional Secretary) of Biman
Bangladesh Airlines Ltd. and Director General (Grade-1) of
Department of Social Services under Ministry of Social
Welfare. Dr. Kamal retired from the government service as
a Grade-1 Official.

Dr. Kamal obtained his Doctor of Philosophy (PhD) in

Botany from Jahangirnagar University, Savar, Dhaka,
Bangladesh. He has Master of Science and Bachelor of
Science in Botany from the University of Dhaka,
Bangladesh. He has several academic publications and
attended several international workshop, seminars and
conferences globally. Dr. Kamal participated in different
training programs at home & abroad.

Dr. Kamal is engaged with a number of professional bodies

and social organizations in different capacities. He is a Life
member of Mushroom Foundation, Bangladesh; Member of
Bangladesh Administrative Service Association; Life
member of Officers’ Club, Dhaka. He was an Expert
member of National Codex Committee, BSTI. Dr. Kamal
has Ex-officio experiences as Member of the Board of
Advisors, BIRDEM and Syndicate member of BMU. He was
a Member of National Disabled Development Foundation,
Ministry of Social Welfare; a Trustee member of ECDL
Foundation, HSD, MoHFW; a Member of the Executive
Committee of SDF, Ministry of Finance; and a Trustee
Member of Sk Zayed-Bin-Sultan Al-Nahiyan Trust, Ministry
of Social Welfare.

Dr. Kamal is a member of the Audit Committee of the Board

of Directors of the Bank.

| Annual Report 2024 21

Board of Directors

Md. Quamruzzaman Khan

Managing Director & CEO

Md. Quamruzzaman Khan was born on October 12, 1963 at

Gazipur in a respectable Muslim family. He joined BASIC
Bank Limited on 3rd December 2024 as Managing Director
& CEO. Prior to his joining the Bank, he served Sonali Bank
PLC as Deputy Managing Director. He also served as
General Manager at Janata Bank PLC.

With a distinguished career spanning 36 years, Mr. Khan is

renowned for his vision, dynamism, commitment and
innovative ideas. He started his banking career as a Senior
Officer at Janata Bank through Bankers’ Recruitment
Committee (BRC) in 1988 and served the bank in different
capacities at Branches, Divisional Office and Head Office.
He was promoted to Deputy General Manager (DGM) on
13.08.2013 and served at Local Office, Divisional Office and
as the Head of different Departments at Head Office. Then,
Mr. Khan was promoted to General Manager on 27.06.2018
and served as the Head of different Divisions at Head Office
for more than three years. After serving long 33 years at
Janata Bank, he was promoted as Deputy Managing
Director in November 2021 and posted to Sonali Bank PLC
until his last day of regular service ended on October 11,
2022. He has participated in numerous trainings, seminars,
and workshops both locally and internationally.

Mr. Md. Quamruzzaman Khan completed MBA (Major in

Finance) from the Institute of Business Administration (IBA),
University of Dhaka. He is an Associate of The Institute of
Bankers, Bangladesh (AIBB). He is widely known for his
humanitarian and social activities.

22 | Annual Report 2024

 Board of Directors
Nahid Hossain, PhD
(Tenure ended on 06.03.2025)
Director

Dr. Nahid Hossain is currently serving as an Additional

Secretary of the Ministry of Public Administration,
Government of Bangladesh. He was appointed as a
Director of the Bank on February 07, 2021. Later, he was
re-appointed as Director of the Bank on February 28, 2023.
Dr. Hossain joined Bangladesh Civil Service in 1999 and
served various positions including Deputy Secretary,
Financial Institutions Division, Ministry of Finance, Deputy
Secretary, Power Division, Ministry of Energy, Power and
Mineral Resources, Superintendent of Police, Natore,
Bangladesh Police Academy and Armed Police Battalion of
Bangladesh Police. In international capacity, Dr. Hossain
worked 3 years 8 months (from 2016 to 2019) in lien as
Visiting Fellow & Adjunct Faculty at School of Law, Western
Sydney University, Sydney, Australia. In 2012, he also
worked as UN nominated General Trainer at National Police
Academy of Timor-Leste and was awarded Solidarity Medal
by H.E. President of Timor-Leste for his contribution in the
field of police curriculum and training module development.
He has worked as Consultant (JICA part) of Dhaka City
Solid Waste Management Project.

As a Kubota Fund and Japanese Government Scholar Dr.

Nahid Hossain obtained his Doctor of Engineering (PhD) in
Environmental Economics from Toyohashi University of
Technology and, as a JDS Scholar he did his Master of
Economics from Yamaguchi University, Japan. He has
Master of Commerce and Bachelor of Commerce in
Finance from the University of Dhaka, Bangladesh. He has
also acquired a Post Graduate Diploma in Marketing
Management from Bangladesh Institute of Management,
Dhaka. He has published one academic book, several
international academic journals and attended several
international academic conferences globally. For his
academic and professional contributions Dr. Hossain has
received many awards and scholarships throughout his
career both in home and in abroad.

Dr. Nahid Hossain has gathered experience in different

sectors like environmental issues, energy policies including
waste-to-energy, renewable energy, green financing,
capital market functionaries, insurance sector development,
and macro-economic implications of financial markets
through his working and academic involvements.

Dr. Hossain is fluent in English and Japanese.

He was the Chairman of the Audit Committee & a member

of the Risk Management Committee of the Board of
Directors of the Bank.

| Annual Report 2024 23

Board of Directors

Dr. Md. Abdul Khaleque Khan, Freedom Fighter

(Released by FID on 29.04.2025)
Director

Dr. Md. Abdul Khaleque Khan, a Freedom Fighter (F.F.) and

seasoned banker having a bright and successful banking
career, was appointed as a Director of the Bank on July 25,
2021 by the Financial Institutions Division, Ministry of
Finance. Later, he was re-appointed as Director of the Bank
on August 01, 2023. He obtained BSS (Honours) and MSS
in Economics from University of Dhaka. Moreover, he was
awarded Ph.D. from World University (USA) Center for
Executive Studies, Dhaka, Bangladesh in the year 2015.

Mr. Khan started his banking career at Bangladesh Krishi

Bank (BKB) as Senior Officer through Bankers Recruitment
Committee and served BKB from 31.05.1983 to 16.10.2011
in different capacities. Subsequently, Mr. Khan was promot-
ed to General Manager and joined Rajshahi Krishi Unnayan
Bank (RAKUB) on 17.10.2011. He got promotion to Deputy
Managing Director on 18.01.2015 and served RAKUB till
27.08.2015. Later, he was promoted to Managing Director
on 28.08.2016 and served Bangladesh House Building
Finance Corporation and the Bangladesh Commerce Bank
Limited as Managing Director & CEO for a total period of
one year. In his long career, Mr. Khan attended various
training programmes and seminars at home and abroad.
Besides, he performed the Holy Haj in 2019.

He was the Chairman of the Risk Management Committee

& a member of the Audit Committee of the Board of Direc-
tors of the Bank.

24 | Annual Report 2024

 Board of Directors
Shamim Ahammed
(Tenure ended on 30.01.2025)
Director

Shamim Ahammed, a Joint Secretary to the Government of

Bangladesh, is presently working in the Department of
Military Lands and Cantonments, Dhaka Cantonment,
Dhaka as Director General. He was appointed as Director of
the Bank on January 20, 2022 by the Financial Institutions
Division, Ministry of Finance. He holds Master of Business
Administration degree awarded by University of West
London, UK achieving a merit position of 1st among 50
international students. Prior to that, he achieved Bachelor of
Urban & Rural Planning degree from Khulna University and
was placed in First Class.

Mr. Shamim Ahammed has gathered multi-disciplinary

knowledge through working in diverse Government sectors;
which include Prime Minister’s Office, Ministry of Civil
Aviation & Tourism, Ministry of Finance, Dhaka North City
Corporation and Department of Youth Development. He has
also performed diligently in the position of Upazila Nirbahi
Officer, Batiaghata, Khulna; Revenue Deputy Collector in
Jhenaidah, Assistant Commissioner (Land) in Jhenaidah
Sadar Upazila and Assistant Commissioner & Magistate in
Mymensingh.

Mr. Shamim Ahmed conducted numerous researches on

different contemporary issues and his various analytical
articles were published in local and international journals.
He attended many foreign & local trainings and seminars in
his professional career.

He was a member of the Executive Committee and the Risk

Management Committee of the Board of Directors of the
Bank.

| Annual Report 2024 25

 Md. M. Latif Bhuiyan
(Tenure ended on 16.05.2025)
Board of Directors

Director

Md. M. Latif Bhuiyan was born in a respectable Muslim family in

1963. He started his career as a Senior Officer at Bangladesh
Shipa Bank (now it is Bangladesh Development Bank Ltd.) in 1990.
In February 2022 he retired as General Manager from Bangladesh
Development Bank Limited after completing a bright and
successful banking career of 32 years. He was appointed as
Director of the Bank on April 12, 2023 by the Financial Institutions
Division, Ministry of Finance.

Mr. Bhuiyan’s academic career is very bright. He got first division in

SSC and HSC examinations held under Dhaka Board, stood 8th in
order of merit in the Commerce Group in HSC examination and
achieved the first position in the Admission Test administered by
Dhaka University in 1981 under Group GA from all students of all
Boards in Bangladesh. He got first class in both [Link]. (Hons.)
and [Link]. in Accounting from the University of Dhaka and
studied in USA under USAID scholarship and received his MBA
with dual major in Finance and MIS from the University of New
Orleans.

While he was in BDBL, he developed the ICT policy and the Credit
Policy for the Bank. As a part of his consultancy under the foreign
aided FMRP project of Finance Division of Ministry of Finance, he
streamlined the DSL accounts of the Ministry of Finance and
developed an Excel-based computerized system of accounting for
Government Debt Service liabilities payable to the Government by
state-owned enterprises. While working at the World Bank
financed DMTBF project of Ministry of Finance, he developed an
Operating Manual for Financial Assets Management (Debt and
Equity Management) for MoF, built a computer database module
for use in iBAS++ for managing government equities and prepared
a Cash Management Manual for the Ministry of Finance.

He is well experienced in various fields of commercial banking and

development financing. He is also an expert in the management of
domestic and foreign loans, Government DSL (Debt Service
Liability), Government Equities, budgeting and accounting. As he
worked as a national consultant to the Ministry of Finance (MoF)
and ADB/ World Bank-financed projects of MoF, he gathered
immense experience in loan, cash and risk management, policy
formulation and implementation thereof. He is also experienced in
the system analysis, design and the development of computer
database.

He served as a member in the Government Loan Accounts

Development Committee under MoF and also acted as a member
in the Sick Textile and Garment Industries Rehabilitation
Committee in Bangladesh that provided recommendations to the
Government for the development of the sector. Mr. Bhuiyan
developed employees’ service rules, regulations and policies and
the Financial Reporting Act 2015 for the Financial Reporting
Council (FRC). He also developed CPF policy, Gratuity Policy,
Travelling & Conveyance Policy and Overtime Policy for National
Human Resource Development Fund (NHRDF) of Ministry of
Finance.

He is fluent in Bangla and English and also skilled in MS Word,

Excel, FoxPro, Dbase, Access and Oracle. Mr. Bhuiyan attended
various training programs and seminars.

He was a member of the Audit Committee and the Risk

Management Committee of the Board Directors of the Bank.

26 | Annual Report 2024

 Board of Directors
Md. Rafiqul Islam
(Tenure ended on 16.05.2025)
Director

Mr. Md. Rafiqul Islam was born in a respectable Muslim

family on May 24, 1957 in the district of Cumilla. Mr. Islam
was appointed as a Director of the Bank for the second time
on April 24, 2023 by the Financial Institutions Division,
Ministry of Finance. Previously, he was a Director on the
Board of Directors of the Bank from 23.07.2020 till
30.06.2021. He is a retired Additional Secretary of the
Government of Bangladesh. He joined Government Service
(Education Cadre) on 01.07.1985 and conducted classes
on Management, Insurance and Banking in different Govt.
Colleges until his lateral joining as Deputy Secretary in the
Ministry of Public Administration in May 2005. Mr. Islam
served the Ministry of Shipping, Bangladesh Road
Transport Authority, Ministry of Post & Telecommunication
and Ministry of Public Administration in different capacities
before retiring from the service in the year 2017. He
obtained Master’s in Management from University of
Chittagong in the year 1983. Prior to that, he completed his
[Link] (Hons) from University of Chittagong in the year
1981.

He visited different countries like India, Malaysia,

Philippines, Thailand, Japan, Kuwait, Sweden, Switzerland,
KSA. He attended many trainings and seminars on
Management in home and abroad in his colorful career. His
major trainings were on Project Management, Audit
Management Procurement Act & Rules, Measures for
Prevention of Corruption, Advanced Course on
Administration and Development, Trade Facilitation
Negotiation Needs and Priorities for Bangladesh, E-file
Management System, ICT Development. He also attended
training on Public Management Program in Malaysia;
Health Information System International Event, Philippines;
ITU Asia Pacific Centres of Excellence Training Workshop,
Thailand; ITU Programme in Japan; Postal Financial
Services India, Thailand, Switzerland and Management
Training in Sweden.

During his service life he has contributed immensely

towards the development of education systems and
modernization of postal services. He is also involved in
various socio-cultural organizations.

He was the Chairman of the Executive Committee and a

member of the Risk Management Committee of the Board
of Directors of the Bank.

| Annual Report 2024 27

 Message From The
Chairman

28 | Annual Report 2024

Being the Chairman of the Board of Directors of BASIC surprising resilience. The apprehension of a recession
Bank Limited, I feel honoured to welcome you all to the that overshadowed financial prospects ultimately failed to
36th Annual General Meeting (AGM) of the Bank. On materialize last year.
behalf of the Board of Directors, I would like to convey Bangladesh as a developing country has been embracing
special thanks to the representative of Bank’s lone the blessings of global opportunities and at the same time
shareholder, the Government of Bangladesh, nominated has to suffer if any disfavor arises out of global
shareholder-Directors, observer of Bangladesh Bank and environment. All the international issues like global
other stakeholders for their valuable presence in the 36th economic slowdown caused by inflation, economic
AGM of the Bank. It is a matter of great honor and unrest, and geopolitical disputes left significant impact on
privilege for me to present the Annual Report along with the development process of Bangladesh. The country has
Audited Financial Statements of BASIC Bank Limited for long been facing multifarious challenges impacted by
the year 2024. global economic slowdown and uncertainties in global
economy including potential recession risks in major
The year 2024 brought about a dimensional change in the economies effecting export demand and foreign
history of Bangladesh marked by ‘July Revolution’ also investment in Bangladesh while high inflation dampening
known as July Student-People Uprising, a pro-democracy consumers’ spending and current account deficit as a
mass uprising in the country resulting from quota reform result of trade imbalances thwarted prospects of the
movement led by ‘Students Against Discrimination’ in July country. To add to all these odds, absence of political
2024. I am expressing my sincere gratitude and respect to stability during the year 2024 remained as one of the
all the ‘July Martyrs’ whose name has got place in the major hurdles on the way of desired progression of the
history of Bangladesh. Following the political changeover, economy. Political unrest in July and August, coupled with
banking sector of Bangladesh also witnessed some floods in different parts of the country disrupted industrial
tangible reforms. For the first time in years, the operations and supply chains. However, hopefully the
Bangladesh Bank (BB) operated more independently as a post uprising interim government has prioritised actions to
regulator and public confidence in the banking sector be taken immediately and restoring business confidence
started to regain. Boards and top management of many tops it all. Reflection has already been in economic front
troubled banks have been reshuffled to safeguard public having signs of indicator-wise improvement such as
interest. Amid such happenings, Government of control of inflation, robust growth of remittance,
Bangladesh, represented by Financial Institutions consistencies in balance of trade and balance of payment
Division (FID), Ministry of Finance, the sole owner of and increase of foreign currency reserves; seemingly
BASIC Bank, appointed me as Director and Chairman of country’s economy has been witnessing the transition
BASIC Bank and accordingly, I joined as Chairman of the from chaos to cosmos.
Board of Directors of BASIC Bank in November 17, 2024
at the time when reforms and restructuring were taking The banking sector showed signs of facing challenges
place in banking sector. although there were improvements in certain
performance indicators. This period witnessed a sharp
Bangladesh faced multiple challenges in 2024 that increase in the non-performing loans (NPLs), and also
impacted financial sector wherein banking industry experienced a deceleration in the growth of bank
confronted multifaceted hurdles caused by severe advances. The non-performing loan reached a record
liquidity crisis, slow credit growth and a surge in high of 20.2 percent at the end of 2024 from that of 9
Non-Performing Loans (NPLs). Depositors’ trust in banks percent at the end of 2023. The overall CRAR for the
has been severely shaken as many faced unprecedented banking system reached 3.08 percent in 2024 compared
difficulties withdrawing their hard-earned savings. Low to 11.08 percent in the previous year. The Banking
economic growth due to political uncertainty, forex industry‘s profitability declined slightly at the end of
shortage, and low investor confidence further worsen Q1FY25 than that of Q1FY24, as shown by a reduction in
vulnerabilities in the financial sector. Moreover, the long both return on asset (ROA) and return on equity (ROE).
continued crises like shortage of dollar, depreciating local The overall ROA and ROE reduced to 0.38 percent and
currency, loan irregularities, uneven distribution of 7.42 percent at the end of Q1FY25 from 0.41 percent and
deposit, high cost of fund, narrow interest spread - all 7.46 percent at the end of Q1FY24.
these disadvantageous components placed financial
sector in a tight position. The situation signals severe Coming to the discussion on BASIC Bank, it was a matter
implications for the economy, as rising defaults threaten of pride that the bank remained a successful one and
to limit access to credit for potential borrowers and erode placed itself as an example for being a profit earning
confidence in the banking system. Amid such a backdrop, state-owned bank with sound indicators in all required
few banks registered growth in their operating profits terms since inception of its journey in 1988 to 2009. At the
despite a little increase of classified loans and downturn in same time, it is a matter of great misfortune that it started
interest-rate spread. Efficient fund management and losing its track of glory and fall in extreme weakness as a
earning from treasury operation kept financial position of sheer consequence of ill motives and irregularities
such banks considerably pleasant. The steady foreign inflicted upon the bank during 2010 -2014. After that, the
trade covering both export and import also contributed to bank had long been striving to bring it out from ailing
achieve operating-profit growth for many banks in 2024. condition in terms of financial health indicators. But all the
ventures and attempts could not find ways to kindle a ray
The aftershock of the COVID-19 pandemic penetrated by of good hope for retrieval of the bank from dire situation. It
inflation, food insecurity, unemployment, soaring energy is undeniable that all initiatives and endeavors to rescue
and food prices, supply chain disruptions have kept global the bank partially dented due to perilous and enormous
financial system under severe pressure. The situation has size of NPLs of borrowers. After the disaster wrecked
further been dampened following ongoing geopolitical upon the bank, more than a decade has been passed but
crisis triggered by Russia-Ukraine war and Middle East there prevails no significant signs of recovery. Only in
unrest. Yet the global system has responded with 2016 and 2017 the bank could make a little amount of

| Annual Report 2024 29

 operating profit but the hope withered away with falling of and intensive attention in corporate credit are still in
the bank again in operating loss trap as a consequence of effect.
reclassification of declassified loans.
The bank has been trying to mitigate risks and achieve
After my inclusion in the Board, I, along with other fellow sustainability through several ventures such as
directors, have, at the very beginning, put our expanding networks by opening sub-branches and
concentration to prioritize the tasks to be done extending services to more clients by inaugurating new
sequentially to get rid of vulnerable situation. Attention ATM booths. At present, BASIC Bank has an operational
has been given to develop credit deposit ratio, ensure network of 72 branches, 37 sub-branches, 13 collection
maintenance of regulatory requirements, restrict irregular booths and 26 ATM booths. BASIC Bank always stands
practices, form marketing team for deposits and ready to embrace technology based modern banking
businesses and recovery teams to recover NPL. service. The bank developed its own Banking Software
Objective of such efforts is to reduce loss and ensure back in 1991 which was later replaced by a Centralized
moving the bank towards operating profit. Plan of action Real Time Core Banking System solution to increase
containing clear directions as to how the bank would be efficiency in customer service dimension. In this pursuit of
turned around has already been disseminated among the digital excellence, BASIC Bank has introduced several
leaderships and employees as a whole. forward-looking solutions aimed at supporting a cashless
and paperless society which include digital banking
All these aimed at reshaping mindset of the workforce to application "Magpie, remittance software “remit365”,
overcome the predicaments and restart a journey for internet banking application ‘iBank’, customer onboarding
successful achievements. Throughout the year the bank application ‘eKYC’ and VISA dual currency contactless
has to face challenges in every layer of its operational secured chip based debit/credit card. BASIC Bank
areas. Total asset of the Bank stood at Taka148.35 billion actively participates in the national payment
at the end of year 2024, decreasing by 19.83 billion from infrastructure, including Bangladesh Automated Cheque
Taka 168.18 billion in the previous year. Deposit slides by Processing System (BACPS), Bangladesh Electronic
7.76 percent and reached Taka 135.53billion in 2024 from Fund Transfer Network (BEFTN), Real Time Gross
146.93 billion in 2023. Loans and advances stood at Settlement System (RTGS), Electronic Dealing System
about Taka 128.89 billion at the end of 2024 decreasing for Interbank Money Market (EDSMoney) and Market
by 2.64 billion from that of 131.53 billion in 2023. Bank Infrastructure Module (MI Module) for trading government
management with the leadership of Board of Directors securities. The Bank provides e-GP services through all
and guidance of Bangladesh Bank, has been extending branches for participants in the national e-tendering
their best effort to improve Credit-Deposit Ratio (CDR). platform operated by CPTU.
The Credit-Deposit Ratio (CDR) of the bank stood at
95.54% in 2024. BASIC Bank in its long journey always BASIC Bank considers people or human as its worthiest
maintained the required liquidity to honor all payments in resource. The Bank translates its goal into viable realities
time since inception. with efficient utilization of human capital. The Bank has its
own independent training wing named BASIC Bank
Foreign trade of the bank experienced a mixed trend Training Institute (BBTI) to trigger excellence of its
during the year. Import business of the Bank stood at workforce. Total 1773 participants attended 76 Trainings,
Taka 28.49 billion at the end of 2024 registering a Seminars and Workshops at BBTI, Bangladesh Institute
negative growth of 8.98% percent from Tk. 31.30 billion at of Bank Management (BIBM), Bangladesh Bank Training
the end of 2023. Export financing increased by 10.19 Academy (BBTA) and other training institutions during the
percent from that of the previous year and stood at Taka year 2024.
33.64 billion at the end of the reporting year. From the On behalf of members of Board of Directors, I would like
very beginning the bank has been keen to promote SME to express my sincere gratitude to the Government of
and thrust sector resembling the national goal of creating Bangladesh, sole owner of the bank, for their continued
and enhancing new entrepreneurs with assurance of job support and guidance. I would prefer acknowledging the
creation throughout the country. The bank has financed depth of our relationship with government autonomous
Taka 10.38 billion towards SME. The Bank incurred bodies for reposing their confidence in us by maintaining
operating loss before tax of Taka 8.40 billion in 2024 their deposits with the Bank. Bangladesh Bank, the
which is a consequence of mounting NPL and shrinking of regulator of banking industry, deserves special thanks
income from interest spread. and sincere appreciation for their timely guidelines and
valuable direction.
Instead of giving emphasis on collecting high-cost bearing
deposits and concentrating loans in the large entities, the I extend my heartfelt gratitude to the fellow Members of
Bank has been mobilizing small ticket deposits from the Board of Directors for their cooperation and active
individuals and corporates in order to bring a good mix in participation in discussion contributing towards making
its investible fund base. The management team remains right decision. I would like to thank our clients for choosing
cautious than ever in selecting borrowers and appraising and remaining with us. My sincere appreciation goes to all
loan proposals while the Board of Directors has been on employees who under the leadership of Managing
alert on the issue of stability and sustainable Director have engaged themselves in their persistent
development. Deposit products like Personal Retail effort to turn around the Bank from this downturn
Account (PRA), BASIC Shohayok Savings Scheme are situation. I would like to conclude with an optimistic note
launched to develop a healthy mix of deposits in terms of that BASIC Bank will win against all the odds and will
cost and maturity. The Bank has been trying to explore soon turn a successful and prosperous bank with the
new and diversified avenues for financing with the aim of support and blessings of all its stakeholders.
developing and maintaining a sound portfolio with
mitigated risk. This effort includes diversified lending in
agriculture; rural enterprise, retail and CMSME sectors,

30 | Annual Report 2024

 Managing Director's
Speech

| Annual Report 2024 31

Assalamu Alaikum wa Rahmatullah. several sub-branches in rural and semi-urban
regions, ensuring access to banking for
Esteemed Shareholders, Honorable Members of the underbanked populations. New deposit schemes
Board, Respected Regulators, Valued Customers and tailored for women, pensioners and small
Dear Colleagues, savers were well received.

It is with immense respect and gratitude that I present 4. Digitalization: The digital Banking app “ Magpie”
to you the Managing Director’s statement for the year has been introduced with greater customer
2024. It was a year marked by transformation, tenacity, satisfaction and Bangla QR-based payments was
and an unwavering commitment to the future of BASIC rolled out in pilot zones. We are building a robust
Bank Limited. Amid evolving global and domestic digital banking ecosystem to compete in the
economic challenges, our journey through 2024 was a evolving financial services landscape.
reaffirmation of our strategic intent—to rebuild,
strengthen and re-emerge as a reliable and 5. Cost Optimization: Operational efficiency was
sustainable bank serving the nation’s banking needs. enhanced through staff redeployment, branch
rationalization, and overhead cost reductions.
Resilience in a Shifting Global Landscape Investment in government securities ensured
liquidity and stable returns.
The year 2024 saw a modest recovery in the global
economy, with GDP growth stabilizing at 2.6%–3.2%, 6. Governance and Compliance: Strengthened
as per estimates by the World Bank and IMF. While internal controls, transparent reporting, and staff
advanced economies grew slowly, emerging markets training helped foster a culture of compliance
showed stronger performance, led by countries like and risk management.
India and Indonesia. However, inflation, geopolitical
instability, protectionist trade policies and currency Human Capital and Capacity Building
volatility continued to challenge global markets.
Bangladesh, too, was not immune to these shocks, We consider our people our greatest strength. In 2024,
facing persistent inflation (averaging 9.7%), currency significant training programs were conducted at BBTI,
pressure and trade disruptions. Despite these external BBTA and BIBM. Specialized workshops focused on
headwinds, the banking sector played a pivotal role in credit risk, AML, cyber security and ethical banking
maintaining macroeconomic stability. were conducted across the Bank. Motivation,
recognition and a performance-linked culture are
Performance Highlights – 2024 gradually taking shape.

In 2024, BASIC Bank focused on realigning its Challenges Remain

operations to achieve greater efficiency and
customer-centric innovation. We prioritized enhancing While we made progress, we remain cautious of the
asset quality, expanding our outreach and modernizing road ahead:
our service delivery infrastructure.
• High NPLs continue to burden the balance sheet.
Strategic Initiatives • Capital adequacy remains below regulatory
requirements.
We adopted a multidimensional transformation strategy • Global market volatility, FX pressure and rising
in 2024: cost of funds need close monitoring.
• Operational profitability must be broadened
1. Credit Discipline & Recovery Focus: With across the branches.
NPL recovery as our top priority, we introduced
structured loan settlement plans, strengthened Way Forward – 2025 and Beyond
legal enforcement and empowered teams to
take action at the field level. Over BDT 552 crore As we enter 2025, we are guided by a bold but
in classified loan recovery is testimony to this. achievable vision:

2. Deposit Mobilization: We launched deposit • Strengthen asset quality by reducing

campaigns through new sub-branches and non-performing exposures through focused
digital channels. Low-cost-no-cost deposit recovery and risk control.
segments were prioritized to reduce cost of funds. • Enhance capital strength to ensure greater
financial resilience and regulatory compliance.
3. Financial Inclusion: BASIC Bank opned • Improve operational performance by increasing

32 | Annual Report 2024

 the number of profit-generating branches. Finance and Bangladesh Bank for their policy backing
• Drive full-scale digital solutions to modernize and strategic direction.
customer experience and service delivery.
• Boost deposit mobilization through trust-based I also thank our valued customers for placing their trust
relationship building and innovative offerings. on us and to all our employees for their tireless efforts
• Intensify recovery efforts to reclaim long- and resilience during the year.
outstanding classified loans and improve liquidity.
Commitment to Stakeholders
Our Strategic Priorities:
We are not just rebuilding BASIC Bank—we are
• Strengthen recovery efforts with new settlement reimagining it. Together with our stakeholders, we will
tools. transform challenges into opportunities and steer the
• Introduce customer-centric products with Bank towards sustainable profitability and social
competitive pricing. impact.
• Invest in fintech collaborations and cross-border
payment facilitation. Let us reaffirm our collective commitment to restoring
• Optimize manpower through automation and BASIC Bank to its rightful place as a pillar of
reskilling. Bangladesh’s banking sector.
• Uphold strict governance and transparency
standards. With gratitude and determination,

Acknowledgement

My heartfelt thanks to our Hon’ble Board of Directors

for their unwavering guidance and support throughout Md. Quamruzzaman Khan
the year. I express sincere gratitude to the Ministry of Managing Director & CEO
BASIC Bank Limited

| Annual Report 2024 33

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wn‡m‡e cwiPvjbv cl©` Mfxifv‡e Avw_©K weeiYxmg~n ch©v‡jvPbv K‡i‡Q, hv‡Z 8.4% †_‡K Kg| Z‡e mieivn weNœ I gy`ªvi Aeg~j¨vq‡bi Kvi‡Y evsjv‡`‡k
e¨vs‡Ki Avw_©K `„pZv g~j¨vqb, cwiPvjb cÖwµqvi ¯^”QZv wbwðZKiY Ges Avw_©K gy`ªvùxwZ D”P wQj (9.7%)| GB A‡ji †K›`ªxq e¨vsK¸‡jv wfbœ wfbœ cwjwm
cÖwZ‡e`‡bi h_v_©Zv I wbf©i‡hvM¨Zv eRvq _v‡K| AbymiY K‡i, †hgb wKQz †`k my‡`i nvi Kwg‡q‡Q (†hgb: eªvwRj), Avevi gy`ªvi
w¯’wZkxjZvi Rb¨ wKQz †`k GB nvi evwo‡q‡Q |
e¨vs‡Ki we¯ÍvwiZ Kvh©µg I mvd‡j¨i ch©v‡jvPbvq hvIqvi Av‡M, GB
cÖwZ‡e`‡b ˆewk¦K I †`kxq A_©‰bwZK †cÖ¶vcU Ges e¨vswKs Lv‡Zi Pjgvb 2024 mv‡j evwYR¨ D‡ËRbv I f‚ivR‰bwZK AwbðqZv wQj cÖe„w×i cÖavb
cÖeYZvmg~‡ni GKwU msw¶ß ch©v‡jvPbv Dc¯’vcb Kiv n‡q‡Q-hv 2024 mv‡j cÖwZeÜKZv| hy³iv‡óªi bZzb ïé I Ab¨vb¨ †`‡ki cÖwZwµqvq ˆewk¦K mieivn
e¨vs‡Ki †KŠkjMZ AMÖvwaKvi I Kg©¶gZvq ¸iæZ¡c~Y© cÖfve †d‡j‡Q| e¨e¯’vq e¨vNvZ N‡U, ˆewk¦K cÖe„w× 0.2%-0.8% n«vm cvq| we‡klZ KuvPvgvj
idZvwbKviK †`k I ga¨eZ©x cY¨wbf©i A_©bxwZ¸‡jvi Rb¨ wek¦ evwY‡R¨i MwZ
ˆewk¦K A_©‰bwZK cwiw¯’wZ gš’i nq|

2024 mv‡j wek¦ A_©bxwZ msKUgq †cÖ¶vc‡U mnbkxjZv cÖ`k©b K‡i‡Q, †hLv‡b †cÖv‡UKkwbRg I A-ïé evav e„w× †c‡q e¨q I AwbðqZv evwo‡q‡Q, we‡kl
gy`ªvùxwZ K‡g Avmv, gy`ªvbxwZi mgš^q Ges f‚ivR‰bwZK I evwYR¨MZ AwbðqZv K‡i †hme EMDE †`k wek¦ g~j¨ k„•L‡ji mv‡_ hy³| Pxb hy³iv‡óªi ïé
e„w× †c‡q‡Q| ˆewk¦K wRwWwc cÖe„w× AvbygvwbK 2.6% †_‡K 3.2% Gi g‡a¨ w¯’i hy‡×i d‡j 2025 mv‡ji cÖe„w× K‡g 4.5% n‡Z cv‡i| ga¨cÖvP¨ I
wQj, hv †KvwfW-c~e© `k‡Ki 3.1% M‡oi wb‡P Ges gnvgvix-cieZ©x cybiæ×v‡ii mve-mvnvivb Avwd«Kvq msNl© I mvgvwRK Aw¯’iZv AvÂwjK cÖe„w×i c~e©vfvm‡K
Zzjbvq gš’i MwZ wb‡`©k K‡i| gy`ªvùxwZ D‡jøL‡hvM¨fv‡e n«vm †c‡q‡Q †bwZevPKfv‡e cÖfvweZ K‡i‡Q| we‡kl K‡i LICs A‡j Lv`¨ I R¡vjvwb
(3.5%-5.9%), hv mieivn Pv‡ci n«vm I K‡Vvi gy`ªvbxwZi Kvi‡Y m¤¢e n‡q‡Q, wbivcËv `ye©j n‡q c‡o|
hw`I wKQz A‡j g~j gy`ªvùxwZ (core inflation) w¯’i wQj| Z‡e evwYR¨ weNœ,
D”P miKvwi FY Ges f‚ivR‰bwZK D‡ËRbv †bwZevPK SyuwK ˆZwi K‡i‡Q, †hLv‡b 2024 mv‡j ˆewk¦K Avw_©K Lv‡Zi mnbkxjZv wgkÖ wQj| hw`I e¨vsK¸‡jv g~jab
cÖhyw³MZ AMÖMwZ I bxwZMZ ms¯‹vi wbw`©ó wKQz A_©bxwZ‡Z m¤¢vebvi Øvi Ly‡j ch©vßZv eRvq †i‡L‡Q, EMDEs A‡ji 30% †`k D”P Avw_©K SyuwKi gy‡L
w`‡q‡Q| i‡q‡Q, we‡klZ miKvwi F‡Y AwaK wbf©iZv I `ye©j bxwZMZ KvVv‡gvi Kvi‡Y|
Ômve©‡fŠg-e¨vsKÕ m¤úK© †hLv‡b e¨vsK¸‡jv e¨vcKfv‡e miKvwi eÛ aviY K‡i, ZvÕ
wek¦e¨vs‡Ki wn‡m‡e 2024 mv‡j ˆewk¦K cÖe„w× wQj 2.6%, hv 2023 mv‡ji 2012 †_‡K 2023 mvj ch©šÍ 35% GiI †ewk †e‡o‡Q|
Zzjbvq AcwiewZ©Z wKš‘ †KvwfW-c~e© M‡oi †P‡q Kg| AvšÍR©vwZK gy`ªv Znwej
(IMF) mvgvb¨ D”P cÖe„w× 3.2% Abygvb K‡i‡Q, †hLv‡b DbœZ A_©bxwZ¸‡jvi D”P FYcxwoZ Dbœqbkxj A_©bxwZi Rb¨ D”P ˆewk¦K my‡`i nvi (Mo 4%,
cÖe„w× 1.6% Ges D`xqgvb I Dbœqbkxj A_©bxwZ¸‡jvi (EMDEs) cÖe„w× 2025-26 mgqKv‡j) Avw_©K Ae¯’vi Ici Pvc m„wó K‡i| BD‡ivi
4.2% wnmv‡e aiv n‡q‡Q| kw³kvjxKiY I gvwK©b Wjvi †_‡K m‡i Avmvi cÖeYZv wewbgq nvi‡K cÖfvweZ
K‡i Ges BD‡iv‡Rv‡b gy`ªvùxwZi nvi n«v‡m mnvqZv Ki‡Q|
DbœZ A_©bxwZ¸‡jv‡Z cÖe„w× wQj Zzjbvg~jKfv‡e w¯’wZkxj (cÖvq
1.5%-1.7%)| Drcv`bkxjZv e„w×i Kvi‡Y hy³iv‡óª cÖe„w× wQj kw³kvjx 2025 mv‡j ˆewk¦K cÖe„w× mvgvb¨ †e‡o 2.7%-3.3% n‡Z cv‡i, †hLv‡b DbœZ
(2.6%-2.8%), hw`I eQ‡ii †kl w`‡K wKQz ¯’weiZvi j¶Y †`Lv hvq| A_©bxwZi cÖe„w× 1.7%-1.8% Ges EMDEs A‡j 4.0%-4.2% _vKvi m¤¢vebv
BD‡iv‡Rv‡b cÖe„w× wQj Zzjbvg~jKfv‡e `~e©j (0.8%-1.1%), †hLv‡b i‡q‡Q| gy`ªvùxwZ AviI K‡g 2.9%-4.5% n‡Z cv‡i, hw`I cwi‡lev Lv‡Z g~j
Rvg©vwb‡Z wkí Drcv`b `~e©j _vKvq cÖe„w× 0.0%-0.2%, wKš‘ †¯úb gy`ªvùxwZ I evwYR¨ weNœ j¶¨gvÎvq †cuŠQv‡Z wej¤^ NUv‡Z cv‡i| bxwZwba©viK‡`i
A‡c¶vK…Z fv‡jv K‡i‡Q (2.4%-2.9%)| Rvcv‡bi cÖe„w× wQj axiMwZi DwPZ n‡e ivR¯^ NvUwZ Kgv‡Z Ges †UKmB cÖe„w× wbwðZ Ki‡Z ms¯‹vig~jK
(0.3%-0.7%)| c`‡¶c MÖnY Kiv| GKBm‡½ evwYR¨ evav n«vm I Rjevqy cwieZ©b †gvKv‡ejv
AvšÍR©vwZK mn‡hvwMZv †Rvi`vi Kiv Acwinvh© n‡q DV‡e|
EMDEs A‡ji cÖe„w× wQj 4.0%-4.2%, hv 2023 mv‡ji 4.3% †_‡K
wKQzUv Kg| Af¨šÍixY Pvwn`v I AeKvVv‡gv wewb‡qvM Øviv PvwjZ fvi‡Zi cÖe„w× evsjv‡`‡ki A_©‰bwZK cwiw¯’wZ-2024
wQj me‡P‡q †ewk (6.8%-7.0%)| Avevmb Lv‡Zi P¨v‡jÄ I evwYR¨
D‡ËRbvi Kvi‡Y Px‡bi cÖe„w× K‡g `uvovq 4.6%-5.0%| mve-mvnvivb evsjv‡`‡ki 2024 mv‡ji A_©‰bwZK cwiw¯’wZ GKwU RwUj cwiw¯’wZi gy‡LvgywL
Avwd«Kvi cÖe„w× wQj 3.5%, D”P FY I Kg ˆe‡`wkK mvnv‡h¨i Kvi‡Y Pv‡ci n‡qwQj, hv A_©‰bwZK cÖe„w× n«vm, `xN©¯’vqx gy`ªvùxwZ, Avw_©K Lv‡Zi `ye©jZv
gy‡L _vK‡jI Af¨šÍixY Pvwn`v kw³kvjx wQj| Ges ˆe‡`wkK Lv‡Zi P¨v‡j‡Äi mw¤§j‡b MwVZ, hvi m‡½ i‡q‡Q ivR‰bwZK
Aw¯’iZv I ˆewk¦K AwbðqZv|
wb¤œ Av‡qi †`k¸‡jv‡Z (LICs) cÖe„w× 2023 mv‡ji 3.8% †_‡K 2024
mv‡j †e‡o `uvovq 5.0%, Z‡e Zv‡`i g‡a¨ wZb-PZz_©vsk †`‡kB c~e©vfvm n«vm 2024 A_©eQ‡i (RyjvB 2023- Ryb 2024) evsjv‡`‡ki cÖK…Z wRwWwc cÖe„w×
†c‡q‡Q msNvZ, Lv`¨ AwbivcËv I Rjevqy-m¤úwK©Z mgm¨vi Kvi‡Y| G mg‡q D‡jøL‡hvM¨fv‡e n«vm †c‡q 4.2 kZvs‡k `uvovq, hv 2023 A_©eQ‡ii 5.8
gv_vwcQz Av‡qi cÖe„w× Pig `vwi`ª¨ `~i Kivi Rb¨ h‡_ó wQj bv| kZvsk †_‡K Kg| wek¦e¨vsK 2025 A_©eQ‡ii cÖe„w×i c~e©vfvm AviI Kwg‡q
4.0 kZvs‡k wba©viY K‡i‡Q, hv MZ `yB `k‡Ki g‡a¨ me©wb¤œ| GB cÖe„w× n«v‡mi
ˆewk¦K gy`ªvùxwZ 2023 mv‡ji 6.8% †_‡K K‡g 2024 mv‡j `uvovq †cQ‡b `ye©j †fvMe¨q, wewb‡qv‡Mi MwZ n«vm Ges wkí Lv‡Zi ¯’weiZv `vqx, hv
AvbygvwbK 3.5%-5.9%| GB cZb R¡vjvwb I KuvPvgv‡ji g~j¨ n«vm, MZ `k‡Ki 6.2 kZvsk Mo cÖe„w× †_‡K GKwU D‡jøL‡hvM¨ wePz¨wZ †K wb‡`©k
mvcøvB-†PB‡bi DbœwZ Ges D”P my‡`i nv‡ii cÖfv‡e ZvÕ m¤¢e n‡q‡Q| Z‡e
K‡i|
cwi‡lev Lv‡Z g~j gy`ªvùxwZ A‡bK A‡j GLbI †ewk wQj, hvi d‡j †K›`ªxq
e¨vsK¸‡jv mZK© bxwZgvjvi c_ †e‡Q †bq|

| Annual Report 2024 35

2024 mv‡j Mo gy`ªvùxwZ 10.87 kZvs‡k `uvovq, †hLv‡b Lv`¨ gy`ªvùxwZ 2024 mv‡ji †g gv‡m 1.3 wewjqb Wjvi FY Qvo Kiv n‡q‡Q ˆe‡`wkK gy`ªvi
m‡e©v”P 14 kZvs‡k †cuŠQvq, hvi †cQ‡b wQj ivR‰bwZK Aw¯’iZv Ges mvcøvB wiRvf© †Rvi`v‡ii Rb¨|
†PB‡b weNœ| evsjv‡`k e¨vsK bxwZMZ my‡`i nvi eQi †k‡l 10 kZvsk ch©šÍ
evwo‡q gy`ªvùxwZ wbqš¿‡Yi †Póv K‡i, wKš‘ F‡Yi my‡`i nv‡i mxgv _vKvi Kvi‡Y Av‡qi ˆelg¨ †e‡o †M‡Q (2010-2022 mg‡q wRwb m~PK 0.50 †_‡K 0.53),
†mB cÖ‡Póv mxwgZ n‡q c‡o| Ges bvix I hyemgv‡Ri g‡a¨ Kg©ms¯’vb ¯’weiZv i‡q‡Q, hv mvgvwRK SyuwK ˆZwi
Ki‡Q| wek¦e¨vs‡Ki ÔCountry Private Sector DiagnosticÕ
2024 A_©eQ‡i ivR¯^ NvUwZ wRwWwci 4.5 kZvs‡k †b‡g Av‡m Ges 2025 Abyhvqx, MÖxb RMG, Avevmb LvZ, I wWwRUvj wdbv‡Ý ms¯‹vi Ki‡j K‡qK
A_©eQ‡i Zv 4.3 kZvs‡k _vK‡e e‡j aviYv Kiv n‡”Q| Z‡e ivR¯^ Av`vq wQj j¶ Kg©ms¯’vb m„wó n‡Z cv‡i| Z‡e, ˆewk¦K evwY‡R¨i AwbðqZv, ïé e„w× I
wRwWwci gvÎ 8.2 kZvsk, hv ˆewk¦Kfv‡e me©wb¤œ‡`i g‡a¨ Ab¨Zg| Gi d‡j Af¨šÍixY Avw_©K `ye©jZv eo ai‡bi SyuwK n‡q DV‡Z cv‡i|
AeKvVv‡gv I gvbem¤ú` Dbœq‡bi g‡Zv ¸iæZ¡c~Y© Lv‡Z miKvwi wewb‡qvM
mxwgZ n‡q‡Q| NvUwZ †gUv‡Z UvKv Qvcv‡bv Ges c‡iv¶ K‡ii (‡gvU ivR‡¯^i 2024 mv‡ji A_©‰bwZK cwiw¯’wZ ewa©Z NPL I Zvij¨ msK‡Ui †cÖ¶vc‡U
`yB-Z…Zxqvsk) Ici wbf©iZv ivR¯^ e¨e¯’v‡K AviI Pv‡c †d‡j‡Q| SyuwK e¨e¯’vcbvq mZK©Zv Aej¤^‡bi cÖ‡qvRbxqZv Zz‡j a‡i‡Q| e¨vsK¸‡jvi
DwPZ m¤ú`gvb Dbœq‡b ¸iæZ¡ †`Iqv, Prompt Corrective Action
2024 A_©eQ‡i eZ©gvb wnmv‡ei NvUwZ msKzwPZ n‡q 6.5 wewjqb Wjv‡i bv‡g, KvVv‡gv †g‡b Pjv Ges wWwRUvj wdbvÝ I MÖxb dvBb¨vwÝs Gi my‡hvM Kv‡R
hvi †cQ‡b wQj Avg`vwb n«vm I †iwgU¨vÝ cÖev‡n DbœwZ| Z‡e ˆe‡`wkK gy`ªvi jvMv‡bv, hv‡Z Pjgvb ms¯‹v‡ii m‡½ mvgÄm¨ eRvq _v‡K|
wiRvf© 2021 mv‡ji AvM‡÷ 48 wewjqb Wjvi †_‡K 2024 mv‡ji †deªæqvwi‡Z
20.8 wewjqb Wjv‡i †b‡g Av‡m, hvi d‡j Avg`vwb‡Z wbqš¿Y Av‡ivc Ki‡Z nq| ißvwbgyLx LvZ, we‡klZ RMG I dvg©vwmDwUK¨vjm LvZ‡K mnvqZv, Ges
†iwgU¨vÝ cÖevn Kv‡R jvwM‡q FYcÖevn evov‡bv m¤¢e| Z‡e ivR‰bwZK I
e¨vswKs LvZ Pig Pv‡ci gy‡L c‡o, †hLv‡b 2024 mv‡j †Ljvwc F‡Yi cwigvY ˆe‡`wkK SyuwK †gvKv‡ejvq kw³kvjx weKí cwiKíbv _vKv Riæwi|
`uvovq 3.45 wUªwjqb UvKv, hv e¨vsK Lv‡Zi †gvU m¤ú‡`i 20.2 kZvsk|
wW‡m¤^i 2023 ch©šÍ †Ljvwc F‡Yi AbycvZ wQj 9 kZvsk| GB msKU A_©‰bwZK cwiw¯’wZ
†gvKv‡ejvq evsjv‡`k e¨vsK ÒcÖ¤úU Kv‡iKwUf A¨vKkbÓ KvVv‡gv Pvjy K‡i|
evsjv‡`‡ki A_©bxwZ ˆewk¦K I Af¨šÍixY P¨v‡jÄ m‡Ë¡I w¯’wZkxjZv I cÖe„w×i
2024 A_©eQ‡i †emiKvwi Lv‡Z FY cÖevn n«vm †c‡q 8.4 kZvs‡k `uvovq, m¤¢vebv cÖ`k©b K‡i‡Q, hv wewfbœ AvšÍR©vwZK ms¯’v I A_©‰bwZK we‡køl‡Y
†hLv‡b j¶¨ wQj 14.8 kZvsk| wewb‡qvM ¯’weiZvi m‡½ m‡½ K‡Vvi Zvij¨ cÖwZdwjZ n‡q‡Q| 2024 A_©eQ‡i (RyjvB 2023-Ryb 2024) evsjv‡`‡ki
cwiw¯’wZ hvi †cQ‡b wQj ˆe‡`wkK gy`ªv n¯Í‡¶c I `ye©j AvgvbZ cÖe„w×, hv cÖK…Z wRwWwc cÖe„w× 5.82 kZvs‡k `uvwo‡q‡Q, hv Av‡Mi eQ‡ii 5.78 kZvsk
FYcÖevn AviI mxwgZ K‡i †Zv‡j| †_‡K mvgvb¨ †ewk| ˆewk¦K AwbðqZvi g‡a¨I GB cÖe„w× GKwU mZK© wKš‘
w¯’wZkxj djvdj wb‡`©k K‡i| Gkxq Dbœqb e¨vsK (ADB) mvgvb¨ †ewk, 6.2
2014 †_‡K 2024 mv‡ji g‡a¨ gvwK©b Wjv‡ii wecix‡Z UvKvi gvb 34.8 kZvsk cÖe„w×i c~e©vfvm w`‡q‡Q, hv evsjv‡`‡ki P¨v‡jÄ †gvKv‡ejvi m¶gZv‡K
kZvsk Aeg~j¨vwqZ n‡q‡Q, hvi d‡j 2024 mv‡ji Rvbyqvwi‡Z GK Wjv‡ii wb‡`©k K‡i| MZ GK `k‡K evsjv‡`k M‡o 5.86 kZvsk nv‡i cÖe„w× a‡i
wewbgq nvi `uvovq 110 UvKv| evsjv‡`k e¨vsK 2024 mv‡ji †g gv‡m GKwU †i‡L‡Q, hv †`‡ki `„p A_©‰bwZK wfwˇK Zz‡j a‡i|
µwjs †cM (crawling peg) e¨e¯’v Pvjy K‡i, hv‡Z wewbgq nv‡i bgbxqZv
evov‡bv hvq| Z‡e ˆe‡`wkK gy`ªvi wiRv‡f©i Ici Pvc Ae¨vnZ _vKvq Avg`vwb cÖavb LvZmg~‡ni Ae`vb: ˆZwi †cvkvK LvZ (RMG), hv wRwWwci cÖvq 10%
wbqš¿Y cÖ‡qvRb n‡q c‡o| Ges †gvU ißvwbi 85% cÖwZwbwaZ¡ K‡i, A_©bxwZi cÖavb PvwjKvkw³ wn‡m‡e
Ae¨vnZ i‡q‡Q| 2024 mv‡j ißvwb 8.3 kZvsk nv‡i †e‡o‡Q, hv ˆewk¦K
ißvwb LvZ kw³kvjx wQj, †hLv‡b 2024 mv‡j evsjv‡`‡ki ißvwb Avq †iKW© evRv‡i evsjv‡`‡ki c‡Y¨i Pvwn`v cÖwZdwjZ K‡i| K…wl LvZ Lv`¨ wbivcËv I
50 wewjqb gvwK©b Wjv‡i †cuŠQvq, hv Av‡Mi eQ‡ii Zzjbvq 8.3 kZvsk cÖe„w× MÖvgxY RxweKvi mnvqK wn‡m‡e ¸iæZ¡c~Y© f‚wgKv cvjb Ki‡Q| †mev LvZ
AR©b K‡i| ˆZwi †cvkvK (RMG) LvZ A_©bxwZi †giæ`Ð wn‡m‡e †_‡K w¯’wZkxjZv eRvq †i‡L‡Q Ges wkí Drcv`b, we‡kl K‡i Drcv`b LvZ, ˆewk¦K
†M‡Q, Ges Av‡Mi eQ‡ii Zzjbvq avivevwnK cÖe„w× eRvq †i‡L‡Q| 2024 mv‡j Pvwn`vi IVvbvgvi g‡a¨I w¯’wZkxjZv †`wL‡q‡Q|
evsjv‡`k †iKW© 26.9 wewjqb Wjvi †iwgU¨vÝ †c‡q‡Q, hv Av‡Mi eQ‡ii
Zzjbvq 23 kZvsk †ewk, Ges GwU †`‡ki ˆe‡`wkK LvZ‡K w¯’wZkxj ivL‡Z gy`ªvùxwZ I A_©‰bwZK w¯’wZkxjZv: 2024 A_©eQ‡i Mo gy`ªvùxwZ 9.7 kZvs‡k
¸iæZ¡c~Y© f‚wgKv †i‡L‡Q| †cuŠQvq, hvi †cQ‡b ˆewk¦K Lv`¨ I R¡vjvwbi g~‡j¨i Pvc wQj| evsjv‡`k e¨vsK
2024 mv‡ji †g gv‡m µwjs †cM G·‡PÄ †iU e¨e¯’v Pvjy K‡i gy`ªvi gvb
Ilya wkí evwl©K 12% nv‡i cÖe„w× AR©b K‡i, hv †`‡ki 98% Pvwn`v c~iY w¯’wZkxj ivL‡Z Ges A_©‰bwZK w¯’wZkxjZv eRvq ivL‡Z c`‡¶c †bq| eQ‡ii
Ki‡Q Ges 150wUiI †ewk †`‡k ißvwb n‡”Q| GB LvZ evsjv‡`k‡K ¯^‡ívbœZ †kl w`‡K gy`ªvùxwZ n«v‡mi j¶Y †`Lv hvq, hv Kvh©Ki gy`ªvbxwZ e¨e¯’vcbvi
†`‡ki g‡a¨ AMÖMY¨ wn‡m‡e cÖwZwôZ K‡i‡Q| dj| RxebhvÎvi e¨q wbqš¿‡Yi cÖ‡Póv †fv³v‡`i µq¶gZv w¯’wZkxj ivL‡Z
mnvqZv K‡i, we‡kl K‡i Lv`¨c‡Y¨i g~j¨ wKQzUv n«vm cvq|
K…wl LvZ miKvwi fZ©ywKi mnvqZvq Lv‡`¨ ¯^qsm¤ú~Y©Zv wbwðZ Ki‡jI, evievi
eb¨vi Kvi‡Y †ek wKQz P¨v‡j‡Äi m¤§yLxb K‡i‡Q| †iwgU¨vÝ I ˆe‡`wkK gy`ªvi wiRvf©: †iwgU¨vÝ cÖevn 23% nv‡i e„w×i gva¨‡g
ˆe‡`wkK gy`ªvi wiRvf©‡K kw³kvjx K‡i‡Q, hv 2024 mv‡j 26 wewjqb Wjvi
evsjv‡`k 2026 mv‡ji b‡f¤^i gv‡m ¯^‡ívbœZ †`‡ki (LDC) ZvwjKv †_‡K Qvwo‡q hvq| AvBGgGd-Gi 4.7 wewjqb Wjv‡ii FY Kg©m~wP (2023 I 2024
DËi‡Yi Rb¨ cÖ¯‘Z n‡”Q, hvi d‡j ˆZwi †cvkvK Lv‡Z cÖvß evwYwR¨K mv‡j A_© Qvomn) A_©‰bwZK w¯’wZkxjZv i¶v Ges †UKmB cÖe„w× D‡`¨v‡M
AMÖvwaKvi K‡g hv‡e| evwY‡R¨ ˆewPΨnxbZv I RMG-wbf©iZv †`‡ki mnvqZv K‡i‡Q| Zvij¨ Dbœqb, e¨emv I †fv³v‡`i Rb¨ FYcÖevn e„w×i gva¨‡g
A_©bxwZ‡K ewnwe©‡k¦i evwY‡R¨ SyuwKi gy‡L †dj‡Q| Avw_©K LvZI A_©‰bwZK Kvh©µ‡g mnvqK f‚wgKv †i‡L‡Q|

2024 mv‡ji RyjvB-AvM÷ gv‡m N‡U hvIqv MYAv‡›`vjb I mwnsmZv 1.2 AeKvVv‡gv I †UKmB wkí: evsjv‡`‡ki †UKmB Drcv`b †K›`ª wn‡m‡e we‡klZ
wewjqb Wjv‡ii †ewk A_©bxwZ‡Z weiƒc cÖfvemn gy`ªvùxwZ evwo‡q w`‡q‡Q Ges RMG Lv‡Z evo‡Z _vKv mybvg ˆewk¦K wewb‡qvMKvix‡`i `„wó AvKl©Y K‡i‡Q|
mvgwMÖK A_©‰bwZK Kvh©µ‡g weNœ NwU‡q‡Q| ivR‰bwZK AwbðqZv cwi‡ekevÜe Drcv`‡b evsjv‡`‡ki AMÖMwZ-we‡k¦i kxl© 100
wewb‡qvMKvix‡`i Av¯’v ÿzYœ Ki‡Q| cÙv †mZz I XvKv †g‡Uªv‡ij cÖKí ev¯ÍevwqZ LEED-mb`cÖvß meyR †cvkvK KviLvbvi g‡a¨ 54wU evsjv‡`‡k-ißvwbi
n‡jI AeKvVv‡gvMZ NvUwZ GLbI i‡q †M‡Q| cÖwZ‡hvwMZvg~jKZv evwo‡q‡Q| cÙv †mZz, hv GKKfv‡e wRwWwc 1.23% ch©šÍ
evov‡Z cv‡i e‡j Avkv Kiv n‡”Q, Ges XvKv †g‡Uªv‡ij Kv‡bw±wfwU I
wek¦e¨vsK I AvBGgGd g‡b Ki‡Q, Ki wfwË m¤cÖmviY, Avw_©K Lv‡Z Z`viwK A_©‰bwZK `¶Zv evwo‡q `xN©‡gqv‡` cÖe„w×i my‡hvM m„wó Ki‡Q|
†Rvi`vi, Ges e¨emv mnvqK cwi‡ek ˆZwi-GBme mvnmx ms¯‹vi GLb Riæwi| dvg©vwmDwUK¨vjm LvZ evwl©K M‡o 12% nv‡i cÖe„w× AR©b K‡i‡Q, hv Af¨šÍixY
AvBGgGd-Gi 4.7 wewjqb Wjv‡ii FY Kg©m~wP, hv 2023 mv‡ji Rvbyqvwi‡Z Pvwn`vi 98% c~iY Ki‡Q Ges ißvwb‡Z m¤¢vebvgq Ae¯’vb ˆZwi Ki‡Q,
Aby‡gvw`Z nq, evsjv‡`k‡K KvVv‡gvMZ ms¯‹v‡i mnvqZv Ki‡Q| Gi g‡a¨ †`k‡K cÖvq ¯^wbf©i K‡i Zz‡j‡Q|

36 | Annual Report 2024

`vwi`ª¨ n«vm I mvgvwRK Dbœqb: evsjv‡`k `vwi`ª¨ n«v‡m D‡jøL‡hvM¨ AMÖMwZ i‡q‡Q, hv gvbe m¤ú` e¨env‡i `¶Zvi cÖwZdjb| cÖwZ Kg©xi Kic~e© ¶wZ
AR©b K‡i‡Q| $2.15/w`b `vwi`ª¨mxgv Abyhvqx `vwi‡`ª¨i nvi 2010 mv‡j UvKv 4.65 wgwjq‡bi g‡a¨ mxgve× ivLv n‡q‡Q, hv LiP wbqš¿Y Ges m¤ú‡`i
11.8% †_‡K 2022 mv‡j 5.0%-G †b‡g Av‡m| $3.65/w`b mxgv Abyhvqx Kvh©Ki e¨e¯’vcbvq e¨e¯’vcbv KZ©„c‡¶i cÖwZkÖywZ wb‡`©k K‡i|
ga¨g `vwi`ª¨ 49.6% †_‡K 30.0%-G n«vm cvq| wk¶v I ¯^v¯’¨ Lv‡Z
avivevwnK wewb‡qvM `xN©‡gqvw` Dbœq‡b mnvqZv Ki‡Q, we‡kl K‡i hye mgvR I 2024 mv‡j †ewmK e¨vsK wjwg‡U‡W Gi Mfb¨©vÝ I †KŠkjMZ Z`viwK wQj
bvix‡`i Rb¨ my‡hvM e„w×i †¶‡Î AMÖvwaKvi †`Iqv n‡”Q| h‡_ó kw³kvjx| cwiPvjbv cl©` SyuwK e¨e¯’vcbv, bxwZm¤§Z Kvh©µg I e¨emv
Dbœq‡b avivevwnK w`Kwb‡`©kbv w`‡q‡Q| wWwRUvj iƒcvšÍi D‡`¨vM‡K we‡kl
2025 A_©eQ‡i evsjv‡`‡ki A_©bxwZ cybiæ×vi n‡q 4% †_‡K 5% Ges AMÖvwaKvi †`Iqv nq-†mev mieiv‡n `¶Zv evov‡Z Ges †cv÷-†KvwfW
2026 A_©eQ‡i 5% †_‡K 5.5% nv‡i cÖe„w× AR©‡bi c~e©vfvm †`Iqv n‡q‡Q| ev¯ÍeZvq MÖvnK‡`i cwiewZ©Z Pvwn`v c~i‡Y e¨vsKwU wWwRUvj cø¨vUdg© Dbœq‡b
GB cÖe„w×i †cQ‡b _vK‡e ˆewk¦K cwiw¯’wZi DbœwZ, †iwgU¨vÝ cÖev‡n kw³kvjx wewb‡qv‡Mi cwiKíbv MÖnY K‡i Ges D™¢vebx e¨vswKs cY¨ Pvjyi D‡`¨vM †bq|
aviv Ges ißvwb e„w×i f‚wgKv| cÖe„w×i m¤¢ve¨ †¶Î¸‡jvi g‡a¨ i‡q‡Q-ißvwb‡Z
ˆewPΨ Avbv, AeKvVv‡gv wewb‡qv‡Mi my‡hvM‡K Kv‡R jvMv‡bv, Ges †UKmB mvgvwRK `vqe×Zv I Avw_©K AšÍf©yw³i cÖwZ e¨vs‡Ki A½xKvi wQj AUzU| ¯‹zj
wkí Drcv`‡b †bZ…‡Z¡i gva¨‡g mivmwi ˆe‡`wkK wewb‡qvM (FDI) AvKl©Y| e¨vswKs I Z…Yg~j ch©v‡q Avw_©K †mevi m¤cÖmvi‡Y e¨vsKwU Ae¨vnZ cÖ‡Póv
Pvwj‡q †M‡Q| GB D‡`¨vM¸‡jv ïay mgv‡Ri g‡a¨ Av¯’v e„w×B K‡iwb, eis
wek¦ evwYR¨ ms¯’vi Investment Facilitation for Development evsjv‡`‡ki Rb¨ GKwU we¯Í„Z, AšÍf©yw³g~jK Avw_©K e¨e¯’vi wfwË wbg©v‡Y
D‡`¨v‡M evsjv‡`‡ki m¤¢ve¨ AskMÖnY †`‡ki †KŠkjMZ evwYR¨ Kvh©µg‡K Ae`vb †i‡L‡Q|
AviI kw³kvjx Ki‡Z cv‡i| †UKmB Drcv`b Lv‡Z †bZ…Z¡ Ges w¯’wZkxj
A_©‰bwZK cvidig¨v‡Ýi d‡j evsjv‡`k `w¶Y Gwkqvi A_©bxwZ‡Z GKwU fwel¨‡Zi w`Kwb‡`©kbv:
¸iæZ¡c~Y© Ae¯’vb ˆZwi K‡i‡Q, hv AvšÍR©vwZK mnvqZv I wewb‡qvM AvKl©‡Yi
m¤¢vebvI evwo‡q‡Q| 2025 mvj I Zvi cieZ©x mg‡qi Rb¨ e¨vsKwU Avkvev`x| e¨vs‡Ki cÖavb
†KŠkjMZ D‡`¨vM¸‡jvi g‡a¨ i‡q‡Q:
ˆewk¦K P¨v‡jÄ _vKv m‡Ë¡I evsjv‡`k A_©‰bwZK w¯’wZkxjZv eRvq
†i‡L‡Q-we‡kl K‡i ˆZwi †cvkvK Lv‡Zi kw³kvjx cvidig¨vÝ, †iwgU¨v‡Ýi • g~jab cybM©Vb
e„w× Ges iƒcvšÍig~jK AeKvVv‡gv cÖK‡íi gva¨‡g| Ilya wkí Ges †UKmB • SyuwK e¨e¯’vcbvq DbœZ KvVv‡gv
Drcv`b D‡`¨vM evsjv‡`‡ki AvšÍR©vwZK Ae¯’vb‡K AviI my`„p K‡i‡Q| • wWwRUvj AeKvVv‡gvi AvaywbKvqb Ae¨vnZ ivLv
• g~j e¨vswKs Kvh©µg AviI kw³kvjx Kiv
ißvwb e„w×, AeKvVv‡gv Dbœqb Ges A_©‰bwZK ˆewPΨKi‡Y Ae¨vnZ
g‡bv‡hv‡Mi gva¨‡g evsjv‡`k AvMvgx eQi¸‡jv‡Z `„p cybiæ×vi Ges †UKmB †UKmB cÖe„w×, MÖvnK‡Kw›`ªKZv I Kvh©Ki `¶Zvi Dci ¸iæZ¡ w`‡q †ewmK
cÖe„w×i c‡_ GwM‡q hv‡”Q, †hLv‡b AvšÍR©vwZK Askx`vwiZ¡ Ges GKwU MwZkxj e¨vsK AvMvgx w`‡b jvfRbK I AskxRb‡`i Rb¨ g~j¨ ms‡hvR‡bi j¶¨ AR©‡b
A_©‰bwZK wfwË cÖavb mnvqK wn‡m‡e KvR Ki‡Q| cÖwZkÖywZe×|

†ewmK e¨vs‡Ki Kvh©µg ch©v‡jvPbv 2024 mvj wQj mnbkxjZv I †KŠkjMZ wfwË ˆZwii eQi| e¨vsKwU P¨v‡jÄ
†gvKv‡ejv Ges wb‡Ri m¶gZv Kv‡R jvwM‡q RvZxq Avw_©K LvZ I A_©‰bwZK
2024 mvjwU wQj †ewmK e¨vsK wjwg‡U‡Wi Rb¨ GK ¸iæZ¡c~Y© mgq, †hLv‡b Dbœq‡b Zvrch©c~Y© f‚wgKv ivL‡Z `„p cÖwZÁve×|
cÖe„w×i avivevwnKZvq e¨vsKwU evsjv‡`‡ki MwZkxj e¨vswKs Lv‡Z AviI GKwU
¸iæZ¡c~Y© avc AwZµg K‡i‡Q| Pjgvb P¨v‡jÄ _vKv m‡Ë¡I, eQiRy‡o M„nxZ e¨vswKs †bUIqvK©
cwiPvjb I †KŠkjMZ D‡`¨vMmg~n e¨vsKwUi `xN©‡gqvw` cybiæ×vi I fwel¨r
mvd‡j¨i Rb¨ GKwU `„p wfwË ¯’vcb K‡i‡Q| †ewmK e¨vsK wjwg‡UW †`‡ki wewfbœ †KŠkjMZfv‡e ¸iæZ¡c~Y© kni I MÖvgxY
GjvKvq Aew¯’Z 72wU kvLvi gva¨‡g we¯Í„Z e¨vswKs †mev cÖ`vb K‡i _v‡K|
Pjgvb cÖwZK‚j cwi‡e‡kI †ewmK e¨vsK evsjv‡`k A_©bxwZi Rb¨ ¸iæZ¡c~Y© MÖvnK‡mevi we¯Ívi I mnRjf¨Zv wbwðZ Ki‡Z 37wU DckvLv ¯’vcb Kiv
evwYR¨ A_©vqb Kvh©µg cwiPvjbvq we‡kl ¸iæZ¡c~Y© f‚wgKv cvjb K‡i‡Q| n‡q‡Q, Ges fwel¨‡Z AviI wKQz DckvLv †Lvjvi cwiKíbv i‡q‡Q| mv¤cÖwZK
2024 mv‡j e¨vsKwU UvKv 28,487.60 wgwjqb g~‡j¨i Avg`vwb e¨emv eQi¸‡jv‡Z, MÖvnK‡mevi gv‡bvbœqb I Kvh©µ‡g `¶Zv Avb‡Z wKQz kvLv
cwiPvjbv K‡i, Ges ißvwb A_©vqb UvKv 33,641.90 wgwjqb-G DbœxZ nq, hv Dc‡hvMx ¯’v‡b ¯’vbvšÍi Kiv n‡q‡Q| Gi cvkvcvwk, †`ke¨vcx 13wU Kv‡jKkb
†`‡ki ißvwb wbf©i cÖe„w× †KŠk‡ji cÖwZ e¨vsKwUi cÖwZkÖywZ I mwµq f‚wgKv ey_ Gi gva¨‡g wej Av`v‡qi e¨e¯’v Pvjy i‡q‡Q| Gi g‡a¨ XvKvq 6wU,
Zz‡j a‡i| GB ißvwb A_©vq‡bi e„w×i gva¨‡g e¨vsKwU RvZxq A_©‰bwZK K·evRv‡i 2wU Ges gqgbwmsn, ewikvj, Kzwóqv, MvRxcyi I cUzqvLvjx‡Z
AMÖvwaKv‡ii m‡½ mvgÄm¨ †i‡L AvšÍR©vwZK evwY‡R¨ hy³ e¨emv¸‡jv‡K mnvqZv GKwU K‡i ey_ i‡q‡Q| GB Kv‡jKkb ey_¸‡jv MÖvnK †jb‡`b‡K mnR I mvkÖqx
K‡i‡Q| K‡i Zzj‡Z mnvqK f‚wgKv cvjb Ki‡Q|

e¨vsKwUi Avw_©K Ae¯’vb SyuwK e¨e¯’vcbv I m¤ú‡`i gvb i¶vq GKwU mZK© I MÖvnK‡mevi gvb I mnRjf¨Zv e„w×i j‡¶¨ e¨vsKwU †`‡ki Ab¨Zg e„nr †kqvW©
weP¶Y bxwZi cÖwZdjb NUvq| †gvU m¤ú` UvKv 148,351.32 wgwjqb Ges GwUGg †bUIqvK© ÒwKD-K¨vkÓ-Gi m`m¨| eZ©gv‡b GB †bUIqv‡K©i AvIZvq
AvgvbZ UvKv 135,529.28 wgwjq‡b †cuŠQv‡jI, e¨vsKwU FY †cvU©‡dvwjI †`‡ki wewfbœ ¯’v‡b Aew¯’Z cÖvq 3,147wU GwUGg e¨env‡ii myweav e¨vs‡Ki
e¨e¯’vcbvq g‡bv‡hvMx wQj Ges AvgvbZ-F‡Yi nvi 93.47% a‡i †i‡L evRvi MÖvnKiv Dc‡fvM Ki‡Z cvi‡Qb, hv e¨vswKs Kvh©µ‡g avivevwnKZv wbwðZ
AwbðqZvi g‡a¨I `¶fv‡e A_© msMÖn I e¨envi K‡i‡Q| K‡i‡Q| e¨vsKwUi wbR¯^ GwUGg ey_I i‡q‡Q-Gi g‡a¨ XvKv wefv‡M 15wU,
ewikv‡j 3wU, PÆMÖvg I ivRkvnx‡Z 2wU K‡i Ges Lyjbv, wm‡jU I Kzwgjøvq 1wU
Avw_©K djvd‡j †`Lv hvq, †gvU Avq UvKv 6,078.49 wgwjqb, †hLv‡b †gvU K‡i ey_ Pvjy i‡q‡Q| MÖvnK‡`i AviI mn‡R †mev cÖ`v‡bi j‡¶¨ ¸iæZ¡c~Y©
e¨q UvKv 14,478.35 wgwjqb| d‡j Kic~e© ¶wZ `uvovq UvKv 8,399.86 GjvKvq bZzb GwUGg ey_ ¯’vc‡bi cwiKíbv MÖnY Kiv n‡q‡Q|
wgwjqb| GB djvdj¸‡jvi †cQ‡b e¨vs‡Ki c~e©eZ©x †Ljvwc m¤ú` mgm¨v
mgvavb I g~jab wfwË kw³kvjxKi‡Yi Pjgvb cÖ‡Póvi cÖfve i‡q‡Q| cÖhyw³
Capital Adequacy Ratio (CAR) wQj -8.10%, hv e¨vs‡Ki Rb¨
Ae¨vnZ g~jab mnvqZvi cÖ‡qvRbxqZv Zz‡j a‡i Ges GwU eZ©gv‡b GKwU cÖwZôvi ïiæ †_‡KB †ewmK e¨vsK AvaywbK Z_¨ cÖhyw³ wbf©i e¨vswKs Kvh©µg
†KŠkjMZ AMÖvwaKvi wn‡m‡e we‡ewPZ| cwiPvjbvq cÖwZkÖywZe×| 1991 mv‡j e¨vsK wbR¯^fv‡e GKwU e¨vswKs mdUIq¨vi
ˆZwi K‡iwQj, hv cieZ©x‡Z MÖvnK‡mev AwaKZi Kvh©Ki I MwZkxj Ki‡Z
Kvh©Kix `¶Zv e„w×I wQj e¨vs‡Ki ¸iæZ¡c~Y© j¶¨| Kg©xi msL¨v K‡g 1,808 †m›UªvjvBRW wi‡qj UvBg †Kvi e¨vswKs wm‡÷g (CBS) Øviv cÖwZ¯’vwcZ nq| MZ
Rb n‡q‡Q, hvi d‡j Drcv`bkxjZv e„w×i Avkv Kiv n‡”Q| cÖwZ Kg©xi GK `k‡KiI AwaK mgq a‡i e¨vs‡Ki cÖavb Kvh©vjq, kvLv I DckvLvmg~n GB
wecix‡Z UvKv 74.96 wgwjqb AvgvbZ Ges UvKv 71.29 wgwjqb FY-AwMÖg †Kvi e¨vswKs wm‡÷‡gi AvIZvq mdjfv‡e cwiPvwjZ n‡q Avm‡Q|

| Annual Report 2024 37

AvaywbK e¨vswKs LvZ Z_¨ I †hvMv‡hvM cÖhyw³ (ICT) wbf©i GK MwZkxj RMr, SyuwK e¨e¯’vcbv KwgwUi mnvqZvq cwiPvjbv cl©` e¨vs‡Ki SyuwK e¨e¯’vcbvq
†hLv‡b cÖhyw³i e¨env‡i bZzb w`MšÍ D‡b¥vwPZ n‡”Q| G †cÖw¶‡Z, †ewmK e¨vsK me‡P‡q ¸iæZ¡c~Y© f‚wgKv cvjb K‡i| cl©` SyuwK e¨e¯’vcbvi Rb¨ e¨vs‡K
wbqwgZfv‡e wdb‡UK I wWwRUvj D™¢ve‡bi gva¨‡g †mevi ¸YMZ gvb e„w× mvsMVwbK KvVv‡gv cÖeZ©b, e¨vswKs Kvh©µg cwiPvjbvi Rb¨ AšÍwb©wnZ
Ki‡Q| MÖvnK‡`i cwieZ©bkxj Pvwn`v, wbivc` I `ªæZ †mev wbwðZKiY Ges SyuwK¸‡jvi ch©v‡jvPbv Ges †KŠkjMZ ¯Í‡i FY I AwMÖg Aby‡gv`bmn wewfbœ
¯^v”Q›`¨gq e¨vswKs AwfÁZv cÖ`v‡bi j‡¶¨ e¨vsK me©`v AvaywbK cÖhyw³ MÖnY I wm×všÍ MÖn‡Yi Rb¨ SyuwK e¨e¯’vcbvi bxwZ, c×wZ Ges wb‡`©wkKv Aby‡gv`b K‡i
e¨env‡i m‡Pó| _v‡K| cl©‡`i SyuwK e¨e¯’vcbv KwgwU wewfbœ SyuwK Mf‡b©Ý KvVv‡gv Ges `k©b
cÖwZôv K‡i, Kvh©Ki cÖwZ‡iva, wbqš¿Y Ges ¯’vwqZ¡ wbwðZ Kivi Rb¨ SyuwK
GB avivevwnKZvq, GKwU K¨vk‡jm I †ccvi‡jm mgvR MV‡bi j‡¶¨ e¨vsK e¨e¯’vcbv bxwZ Ges cÖwµqvi ev¯Íevqb ch©‡e¶b K‡i, e¨vs‡Ki mvgwMÖK SyuwKi
Pvjy K‡i‡Q AvaywbK wWwRUvj †mevmg~n, hvi g‡a¨ i‡q‡Qt wPÎ ch©‡e¶Y K‡i Ges mg‡q mg‡q cl©`‡K G wel‡q AewnZ K‡i| GQvov,
• ÒMagpieÓ: GKwU ¯^Zš¿ †gvevBj A¨vc hv MÖvnK‡`i †jb‡`b, wnmve cl©‡`i SyuwK e¨e¯’vcbv KwgwU SyuwK msµvšÍ wewfbœ bxwZgvjv ch©v‡jvPbv K‡i
e¨e¯’vcbv I bvbv e¨vswKs †mev MÖn‡Y mnRZv I MwZkxjZv G‡b‡Q| Ges cl©`‡K G¸‡jv Aby‡gv`‡bi Rb¨ mycvwik K‡i|
• ÒBASIC i-AccountÓ: B-†KIqvBwm wfwËK wWwRUvj Ab‡evwW©s
wm‡÷g, hvi gva¨‡g bZzb MÖvnKMY KvMRcÎ QvovB mn‡R A¨vKvD›U e¨vsK e¨e¯’vcbv KZ©„c¶ e¨vs‡Ki cwiPvjbv cl©` KZ©„K Aby‡gvw`Z bxwZgvjv
Lyj‡Z cvi‡Qb| Ges †KŠkjmg~n ev¯Íevqb K‡i| e¨vs‡Ki SyuwK e¨e¯’vcbv KwgwU Gme
• ÒRemit365Ó: GKwU AvaywbK †iwgU¨vÝ mdUIq¨vi, hv AvšÍR©vwZK bxwZgvjvmg~‡ni µgvMZ ch©‡e¶‡Yi cvkvcvwk e¨vs‡Ki SyuwK †hb KvwO&¶Z
†jb‡`b‡K K‡i‡Q AviI `ªæZ, wbivc` I AšÍf©yw³g~jK| mxgv I m¶gZvi mv‡_ mvgÄm¨c~Y© _v‡K †mwUI ch©‡e¶Y K‡i| e¨vs‡Ki gyL¨
SyuwK¸‡jvi Kvh©Ki Mf‡b©Ý wbwðZ Ki‡Z MwVZ 06 wU gyL¨ SyuwK m¤úwK©Z
D‡jøL‡hvM¨ Gme cÖhyw³MZ D™¢veb ¯§vU© evsjv‡`k MV‡bi D‡Ï‡k¨ GKwU KwgwUi Kvh©µgI wbe©vnx SyuwK e¨e¯’vcbv KwgwU ch©‡e¶Y K‡i| GQvovI,
†UKmB, ¯^”Q I AšÍf©yw³g~jK Avw_©K e¨e¯’v M‡o Zzj‡Z mnvqK f‚wgKv ivL‡Q| mycvifvBRwi wiwfD cÖ‡mm (GmAviwc) Gi Aax‡b e¨vs‡Ki mvgwMÖK g~jab
e¨vs‡Ki wbR¯^ mdUIq¨vi cÖ‡KŠkjx‡`i ˆZwi wewfbœ mdUIq¨vi e¨env‡ii ch©vßZv, SyuwKi Ae¯’vb, Ges g~ja‡bi ¸bMZ gvb wba©vi‡Yi Rb¨, e¨vs‡Ki
gva¨‡g ˆ`bw›`b Kvh©µg AviI mnRZi Ges `¶ Kiv n‡q‡Q| e¨vsK `xN©w`b GmAviwc wUg cl©‡`i SyuwK e¨e¯’vcbv KwgwUi Z`viwK‡Z KvR K‡i Ges
a‡i wbR¯^ mdUIq¨v‡ii gva¨‡g wewfbœ BDwUwjwU wej msMÖn K‡i Avm‡Q| cwiPvjb ¯Í‡ii Kvh©µg wba©viY K‡i|

MÖvnK‡`i Pvwn`v c~i‡Y DbœZgv‡bi cÖhyw³wbf©i †mev wbwðZ Ki‡Z Pvjy Kiv SyuwK e¨e¯’vcbvi m¤ú~Y© Kvh©vewj, cÖwµqv, cÖkvmb Ges Abykxjbmg~n SyuwK
n‡q‡Q wfmv eª¨v‡Ûi K›Uv±‡jm Wzqvj Kv‡iwÝ †µwWU KvW©| GQvovI e¨vs‡Ki e¨e¯’vcbvi KvVv‡gv MVb K‡i| cwiPvjb ¯ÍiwU SyuwK e¨e¯’vcbv KvVv‡gvi cÖ_g
wewfbœ Kvh©µg I †mevmg~n m¤ú‡K© MÖvnK‡`i AeMZ ivL‡Z i¶Yv‡e¶Y Kiv ¯Íi wnmv‡e MY¨ nq| e¨vs‡Ki d«›U Awdm n‡Z SyuwKi DrcwË nq Ges GB ¯Í‡i,
n‡”Q GKwU Awdwkqvj †dmeyK †cR| †ewmK e¨vsK-Gi wewfbœ kvLv, mv‡K©j Ges wefvM SyuwK wPwýZKiY,
cwigvcKiY, ch©‡e¶Y I wbqš¿Y Ges cÖwZ‡e`b Kivi Rb¨ AvšÍwiKZvi mv‡_
ˆewk¦K †iwgU¨vÝ MÖnY I †cÖi‡Y e¨vsK mdjfv‡e KvR Ki‡Q AvšÍR©vwZK wewfbœ KvR K‡i| GQvovI, e¨vs‡Ki SyuwK e¨e¯’vcbv KvVv‡gv‡Z GKwU c„_K SyuwK
cÖwZôv‡bi m‡½, †hgb: Western Union, Ria, MoneyGram, Ges e¨e¯’vcbv wefvM i‡q‡Q hvi Aax‡b wewfbœ SyuwKmg~n I g~jab e¨e¯’vcbvi Rb¨
Agrani Remittance House (Malaysia) I Agrani c„_K †W¯‹ i‡q‡Q Ges †W‡¯‹i Kg©KZ©v‡`i my¯úó `vwqZ¡ wba©vwiZ i‡q‡Q|
Exchange House Pte. Ltd. (Singapore)|
RvZxq e¨vswKs AeKvVv‡gvi Ask wn‡m‡e e¨vsK mwµqfv‡e AskMÖnY Ki‡Q: GQvovI, SyuwK e¨e¯’vcbvi Rb¨ †ewmK e¨vsK †ek K‡qKwU bxwZgvjv cÖ¯‘Z
• evsjv‡`k A‡Uv‡g‡UW †PK cÖ‡mwms wm‡÷g (BACPS) K‡i‡Q, hvi g‡a¨ D‡jøL‡hvM¨ n‡”Q, (K) FY bxwZgvjv (L) m¤ú`-`vq
• evsjv‡`k B‡jKUªwbK dvÛ UªvÝdvi †bUIqvK© (BEFTN) e¨e¯’vcbv bxwZgvjv (M) Af¨šÍixY wbqš¿Y I cwicvjb bxwZgvjv (N) gvwb
• wi‡qj UvBg MÖm †m‡Uj‡g›U wm‡÷g (RTGS) jÛvwis I mš¿v‡m A_©vqb cÖwZ‡iva bxwZgvjv (O) †UªRvix SyuwK e¨e¯’vcbv
• B‡jKUªwbK wWwjs wm‡÷g (EDSMoney) bxwZgvjv (P) Z_¨ I †hvMv‡hvM cÖhyw³ bxwZgvjv (Q) cvBKvwi A_©vqb welqK
• gv‡K©U Bbd«v÷ªvKPvi gwWDj (MI Module) wb‡`©kbv (R) Zvij¨msi¶Y cwiKíbv (S) SyuwK e¨e¯’vcbv bxwZgvjv (T)
RvwjqvwZ e¨e¯’vcbv bxwZgvjv Ges (U) Af¨šÍixY g~jab ch©vßZv g~j¨vqb
miKvwi B-†UÛvwis †mevi AvIZvq CPTU-Gi B-wRwc †mev e¨vs‡Ki me cÖwµqv msµvšÍ bxwZgvjv| weP¶YZvi mv‡_ SyuwK e¨e¯’vcbvi ¯^v‡_© †ewmK e¨vsK
kvLvq Pvjy i‡q‡Q| e¨vsK Q-Cash †kqvW© †bUIqvK© I evsjv‡`k e¨vs‡Ki Zvi wewfbœ ¯Í‡ii Kg©KZ©v‡`i‡K wbqš¿K ms¯’v I Af¨šÍixYfv‡e cÖYxZ mKj
RvZxq †c‡g›U myBP (NPS) Gi gva¨‡g ATM/†WweU KvW© Ges B-Kgvm© bxwZgvjv, wb‡`©kbv Ges cÖwµqvmg~n h_vh_fv‡e Abymi‡Y DrmvwnZ K‡i
†mev cÖ`vb Ki‡Q| _v‡K| GQvovI, wbqwgZ cÖwk¶Y Kg©m~wP, Kg©kvjv I Af¨šÍixY wbix¶v
e¨vs‡Ki mKj Kg©xevwnbx I e¨e¯’vcbv KZ©„c‡¶i g‡a¨ SyuwK msµvšÍ m‡PZbZv
Z_¨ wbivcËv wbwðZ Ki‡Z evsjv‡`k e¨vs‡Ki me©‡kl ICT wbivcËv wb‡`©kbv I ms¯‹…wZ e„w× K‡i‡Q|
Abyhvqx e¨vsK Zvi ICT Security Policy nvjbvMv` K‡i‡Q Ges h_vh_
c`‡¶c MÖnY K‡i‡Q| wbf©i‡hvM¨ evwn¨K AvBwmwU wbix¶K‡`i gva¨‡g g~jab w¯’wZ
wbqwgZfv‡e `ye©jZv g~j¨vqb, †c‡b‡Uªkb †U÷ Ges KbwdMv‡ikb ch©v‡jvPbv
m¤úbœ Kiv n‡”Q| we‡klfv‡e e¨vs‡Ki SWIFT wm‡÷g Gi wbivcËv AviI eQi †k‡l e¨vs‡Ki g~jab w¯’wZi Ae¯’vb wb¤œiƒct
†Rvi`vi Kiv n‡q‡Q hv‡Z m¤¢ve¨ mvBevi SyuwK cÖwZnZ Kiv hvq|
(wgwjqb UvKv)
†ewmK e¨vsK fwel¨Z-wbf©i cÖhyw³, D™¢veb I wbivcËv wbwð‡Zi gva¨‡g weeiY 2024 2023
†UKmB, wWwRUvj Ges AšÍf©yw³g~jK e¨vswKs cwi‡ek M‡o †Zvjvi j‡¶¨
`„pfv‡e A½xKvie×| cwi‡kvwaZ g~jab 10,846.98 10,846.98
†kqvi †nvìviM‡Yi BKzBwU (14,540.78) (6,142.49)
SyuwK e¨e¯’vcbv †gvU g~jab (15,052.28) (6,313.40)
g~jab NvUwZ (33,636.95) (25,149.47)
`¶ I Kvh©Ki SyuwK e¨e¯’vcbvi Rb¨ e¨vs‡K GKwU mgwš^Z SyuwK e¨e¯’vcbv
cÖwµqv, †hgb- SyuwK wPwýZKiY, cwigvcKiY, ch©‡e¶Y I wbqš¿Y BZ¨vw`
cÖ‡qvRb nq| †ewmK e¨vsK B‡Zvg‡a¨ GKwU mgwš^Z SyuwK e¨e¯’vcbvi ms¯‹…wZ FY I AwMÖ‡gi wecix‡Z µgvš^‡q cÖwfkb msi¶Y Kiv Ges cÖ‡qvRbxq e‡Kqv
ˆZwi K‡i‡Q †hLv‡b e¨vs‡Ki SyuwK e¨e¯’vcbv‡K mswkøó mK‡ji mw¤§wjZ `vwqZ¡ cÖwfkb g~ja‡bi mv‡_ mgš^q bv Kivi wel‡q wbqš¿K KZ©„c‡¶i KvQ †_‡K Qvo
wn‡m‡e we‡ePbv Kiv nq| cvIqv m‡Ë¡I MZ K‡qK eQ‡i cyÄxf‚Z †jvKmv‡bi Kvi‡Y e¨vs‡Ki g~jab
NvUwZ e„w× †c‡q‡Q hvi d‡j e¨vs‡Ki g~ja‡bi Ae¯’vb h_vh_ bq|

38 | Annual Report 2024

wbix¶K wb‡qvM gvbe m¤ú` Dbœqb

†Kv¤úvwbi AvB‡bi (Companies Act, 1994) aviv 210 †gvZv‡eK gvbe m¤ú` e¨vs‡Ki me‡P‡q g~j¨evb m¤ú` wn‡m‡e we‡ewPZ, hv e¨vs‡Ki
cwiPvjbv cl©‡`i wm×všÍ Abyhvqx †ewmK e¨vsK wjwg‡U‡Wi 2024 mv‡ji †UKmB cÖe„w× Ges Kvh©µ‡gi mdjZvi g~j PvwjKv kw³| AvR‡Ki MwZkxj I
÷¨vUzUwi (Avewk¨K) wbix¶K wn‡m‡e wb‡qvMcÖvß n‡q‡Q KvRx Rwni Lvb A¨vÛ cÖwZ‡hvwMZvg~jK cwi‡e‡k, cÖwZwU Kg©x cÖwZôv‡bi cÖwZwbwa wn‡m‡e KvR K‡i
†Kv., PvU©vW© GKvD›U¨v›Um| Ges Kg©x‡`i mw¤§wjZ I e¨w³MZ cÖ‡Póv cÖwZôvbMZ j¶¨ AR©‡bi Rb¨
Acwinvh©| GB ¸iæZ¡ Abyaveb K‡i e¨vsK Ges avivevwnKfv‡e Kg©x ¶gZv
Avw_©K cÖwZ‡e`b e„wׇZ I †ckvMZ Dbœq‡b †Rvi †`q|

†ewmK e¨vsK 2024 A_©eQ‡i wbf©yj I myôy wnmve i¶Y wbwðZ K‡i‡Q| Avw_©K mviv eQie¨vcx e¨vs‡Ki wbR¯^ cÖwk¶Y cÖwZôv‡b wewfbœ cÖwk¶Y Kg©kvjv,
weeiYxmg~n evsjv‡`k A¨vKvDw›Us ÷¨vÛvW©m (BAS), evsjv‡`k wdb¨vwÝqvj †mwgbvi Ges Kg©kvjv Av‡qvRb Kiv nq, hv e¨vswKs Kvh©µ‡gi we¯Í„Z w`K¸‡jv
wi‡cvwU©s ÷¨vÛvW©m (BFRS), ms‡kvwaZ e¨vsK †Kv¤úvwb AvBb, 1991 c~iY K‡i| Gi cvkvcvwk, Kg©x‡`i wbqwgZfv‡e evsjv‡`k Bbw÷wUDU Ad
(2023 mvj ch©šÍ ms‡kvwaZ) Ges Ab¨vb¨ cÖ‡hvR¨ AvBb I wewagvjv e¨vsK g¨v‡bR‡g›U (BIBM), evsjv‡`k e¨vsK †Uªwbs GKv‡Wwg (BBTA)
†gvZv‡eK, evsjv‡`k e¨vs‡Ki wba©vwiZ KvVv‡gv Abymv‡i cÖ¯‘Z Kiv n‡q‡Q| Ges Ab¨vb¨ ¯^xK…Z ¯’vbxq I AvšÍR©vwZK cÖwZôv‡bi we‡klvwqZ cÖwk¶Y †Kv‡m©
cvVv‡bv nq| GB D‡`¨vM¸‡jvi j¶¨ n‡jv Kg©x‡`i `¶Zv e„w×, Kvh©Kix
31 wW‡m¤^i 2024 Zvwi‡L mgvcbx wnmve Abyhvqx e¨vs‡Ki Avw_©K Ae¯’vb, DrKl©Zv cÖPvi Ges e¨vswKs Lv‡Z D`xqgvb cÖeYZv I P¨v‡jÄ †gvKv‡ejvq
Kvh©µ‡gi djvdj, A_© cÖevn Ges BKz¨BwUi Pjgvb cwieZ©b h_vh_fv‡e cÖ¯‘wZ wbwðZ Kiv|
Dc¯’vwcZ n‡q‡Q| GB Avw_©K weeiYxmg~‡ni mZ¨Zv I ¯^”QZv KvRx Rwni Lvb
A¨vÛ †Kv. (PvU©vW© GKvD›U¨v›Um) KZ©„K wbixw¶Z I cÖZ¨vwqZ| 2024 mv‡j †gvU 76wU cÖwk¶Y Kg©m~wP cwiPvwjZ nq, †hLv‡b 1,773 Rb Kg©x
AskMÖnY K‡ib, hv e¨vs‡Ki avivevwnK wk¶v I †ckvMZ Dbœq‡bi cÖwZ
RvZxq ivR¯^ I A_©bxwZ‡Z Ae`vb kw³kvjx fzwgKvi cÖgvY| Gi g‡a¨ wewfbœ Kvh©µg I †KŠkjMZ welq wb‡q
‡ewmK e¨vsK †Uªwbs Bbw÷wUDU (BBTI) Av‡qvwRZ 29wU cÖwk¶Y wQj,
2024 mv‡j †ewmK e¨vsK wjwg‡UW K‡c©v‡iU Ki cwi‡kv‡a h_vh_fv‡e AvBb †hLv‡b 1,712 Rb AskMÖnY K‡ib | evB‡ii cÖwk¶‡YI e¨vsK Kg©x‡`i Rb¨
†g‡b P‡j‡Q, Ges G eQ‡i †gvU 150.34 wgwjqb UvKv RvZxq ivR¯^ Lv‡Z Rgv my‡hvM ˆZwi K‡i‡Q| evsjv‡`k Bbw÷wUDU Ad e¨vsK g¨v‡bR‡g›U
w`‡q‡Q| (BIBM)-G 15wU cÖwk¶Y †Kv‡m© 18 Rb AskMÖnY K‡ib| evsjv‡`k e¨vsK
†Uªwbs GKv‡Wwg (BBTA)-†Z 14wU cÖwk¶‡Y 14 Rb AskMÖnY K‡ib|
e¨vsKwU ïaygvÎ wbR¯^ Ki cÖ`v‡bB mxgve× bv †_‡K, RvZxq ivR¯^ †evW© evsjv‡`k e¨vsK mivmwi Av‡qvwRZ 11wU cÖwk¶‡Y 19 Rb Kg©x AskMÖnY K‡i|
(NBR)-†K wewfbœ miKvwi Ki msMÖn I Rgv cÖ`v‡bi gva¨‡g mnvqZv K‡i Ab¨vb¨ ¯^xK…Z cÖwZôv‡b 7wU cÖwk¶‡Y 10 Rb Kg©x AskMÖnY K‡i‡Q|
hv‡”Q| Gi g‡a¨ i‡q‡Q:
Gme D‡`¨vM wgwj‡q e¨vs‡Ki Kg©x‡`i cÖhyw³MZ `¶Zv, wbqš¿K AbyewZ©Zv Ges
• AvqKi (Income Tax) †bZ…‡Z¡i m¶gZv DbœZ Kivi j‡¶¨ KvR K‡i, hv AvaywbK e¨vswKs c×wZ Ges
• g~j¨ ms‡hvRb Ki (VAT) cÖwZôv‡bi D‡Ï‡k¨i m‡½ m½wZc~Y©|
• AveMvix ïé (Excise Duty)
gvbem¤ú` Dbœqb Kvh©µ‡gi Kvh©Ki ev¯Íevq‡bi Rb¨ e¨vsK cÖwZ eQi Zvi
Ges Ab¨vb¨ eva¨Zvg~jK Kimg~n, hv Avgvb‡Zi my` cÖ`vb, cY¨ I †mev µq, evwl©K ev‡R‡U wbw`©ó A_© eivÏ K‡i‡Q| 2024 mv‡j †gvU 2.0 wgwjqb UvKv
Kg©x‡`i †eZb cÖ`vb Ges MÖvnK‡`i cÖ`Ë e¨vswKs †mevi wecix‡Z cÖ‡hvR¨| cÖwk¶Y Kg©kvjv, †mwgbvi, Kg©Pvix ¯^xK…wZ Ges Ab¨vb¨ Kvh©µ‡gi Rb¨ wba©viY
Kiv n‡q‡Q|
GB mKj ivR¯^ msMÖn I KZ©b cÖ‡hvR¨ AvBb I wbqš¿K ms¯’vi wb‡`©kbv Abyhvqx
wbqwgZfv‡e miKvwi †KvlvMv‡i Rgv †`Iqv n‡”Q| Gi gva¨‡g †ewmK e¨vsK †ckvMZ †hvM¨Zvi ¸iæZ¡ Dcjwä K‡i, e¨vsK e¨vswKs wW‡cøvgv cix¶vq mdj
†`‡ki Avw_©K k„•Ljv I Dbœqb Kvh©µ‡g MVbg~jK f‚wgKv †i‡L P‡j‡Q| Kg©x‡`i cyi¯‹…Z Kivi Rb¨ AwZwi³ 2.0 wgwjqb UvKv ev‡R‡U eivÏ K‡i‡Q|
GwU e¨vs‡Ki wk¶vMZ DrKl©Zv DrmvwnZ Kivi Ges Ávbm¤úbœ `¶ Kg©x ˆZwi
mg‡SvZv ¯§viK (GgIBD) Kivi `„X় A½xKv‡ii cÖwZdjb|

mvwe©K Avw_©K Ae¯’vi DbœwZ Ges wbivc`, weP¶Y I my`„p e¨vswKs ms¯‹…wZK †UKmB eª¨vÛ MV‡bi D‡`¨vM
PP©vi ewntcÖKvk ¯^iƒc †ewmK e¨vsK 2013 mv‡ji RyjvB gv‡m evsjv‡`k
e¨vs‡Ki mv‡_ cÖ_g mg‡SvZv ¯§viK ¯^v¶i K‡i| Gici †_‡K cÖwZ eQiB 2024 mv‡j †ewmK e¨vsK Zvi fveg~wZ© †Rvi`vi I RbM‡Yi Av¯’v e„w× Kivi
(2019 I 2020 mvj e¨ZxZ) j¶¨gvÎv I kZ©vejxi mvgvb¨ ms‡kvabc~e©K Rb¨ ¸iæZ¡c~Y© c`‡¶c MÖnY K‡i‡Q, hv e¨vs‡Ki †UKmB eª¨vÛ MV‡bi
†ewmK e¨vsK evsjv‡`k e¨vs‡Ki mv‡_ mg‡SvZv ¯§viK ¯^v¶i K‡i Avm‡Q| avivevwnK cÖ‡Póvq GKwU ¸iæZ¡c~Y© Aa¨vq| cÖwZ‡hvwMZvg~jK I `ªæZ
evsjv‡`k e¨vs‡Ki mv‡_ †ewmK e¨vsK Gi we`¨gvb me©‡kl mg‡SvZv ¯§viK cwieZ©bkxj e¨vswKs Lv‡Zi P¨v‡jÄ Abyaveb, e¨vsKwU wb‡R‡K GKwU
2023 mv‡ji 03 Rvbyqvix 03 eQ‡ii Rb¨ A_©vr 2023, 2024 Ges 2025 wbf©i‡hvM¨, MÖvnK-†Kw›`ªK Ges ¯^”Q Avw_©K cÖwZôvb wn‡m‡e cÖwZwôZ Kivi
mv‡ji Rb¨ ¯^v¶wiZ n‡q‡Q| Dci we‡kl ¸iæZ¡ Av‡ivc K‡i‡Q|

g~jab ch©vßZvi nvi e„w×, FY I AwMÖ‡gi nvi e„w×, m¤ú‡`i gvb Dbœqb, mviv eQie¨vcx, cwiPvjbv cl©‡`i w`Kwb‡`©kbvq †KŠkjMZ eª¨vwÛs Kvh©µg
†kÖYxK…Z F‡Yi wecix‡Z bM` Av`vq e„w×, Zvij¨ e„w×, cwiPvjb e¨q n«vmKiY, cwiPvwjZ n‡q‡Q, †hLv‡b Acv‡ikbvj DrKl©Zv Ges `„k¨gvb KwgDwbwU
†kÖYxK…Z FY Ges AwMÖg-AvgvbZ AbycvZ n«vm, DcvR©b e„w×, SyuwK e¨e¯’vcbvi AskMÖn‡Yi gva¨‡g mybvg cybwbg©v‡Y †Rvi †`Iqv nq| e¨vs‡Ki g~j
DbœwZ, gvbem¤ú‡`i weKvk, †c‡g›U AeKvVv‡gv wWwRUvjKiY, wbixw¶Z kw³¸‡jv-‡mevi gvb, Avw_©K k„•Ljv Ges Kg©x‡`i mZZv-KZ©„c¶ wek¦vm
e¨vjvÝwkU Ges wba©vwiZ cÖwZ‡e`b Rgv †`Iqvi g‡Zv wKQz j¶¨ I kZ© c~i‡Yi cybM©V‡b Kvh©Kifv‡e Kv‡R jvwM‡q‡Q| †iwgU¨vÝ †mev, Avg`vwb-ißvwb
Rb¨ mg‡SvZv Pzw³i gva¨‡g e¨vsK‡K wb‡`©kbv cÖ`vb Kiv nq| mnvqZv Ges DbœZ wWwRUvj cø¨vUd‡g©i gva¨‡g MÖvnK †mev `¶Zvq D‡jøL‡hvM¨
DbœwZ eª¨vwÛs D‡`¨v‡Mi m‡½ mvgÄm¨ †i‡L AwR©Z n‡q‡Q|
evsjv‡`k e¨vs‡Ki wba©vwiZ j¶¨gvÎv AR©‡bi Rb¨ cwiPvjbv cl©` cÖ‡qvRbxq
bxwZgvjv cÖYqb, Kvh©Ki Kg©-cwiKíbv MÖnY, Ges mgwš^Z †KŠkj Aej¤^b 2024 mv‡j e¨vs‡Ki `„k¨gvb AMÖMwZ cwijw¶Z n‡q‡Q I e¨vswKs †mev
K‡i| wba©vwiZ j¶¨gvÎvi wecix‡Z e¨e¯’vcbvi AR©bmgyn cl©` wbqwgZ MÖvn‡Ki Kv‡Q †cuŠQv‡bv e¨vcKfv‡e e„w× †c‡q‡Q| cÖPwjZ gva¨g I wWwRUvj
ch©v‡jvPbv I g~j¨vqb K‡i| Awbevh© KviYekZ e¨vsK j¶¨gvÎv AR©‡b wcwQ‡q wgwWqv Df‡qB wgwjZ GKwU wecYb †KŠkj MÖnY K‡i wewfbœ MÖvnK‡Mvôxi m‡½
co‡jI j¶¨gvÎvi KvQvKvwQ †cuŠQv‡bvi me©vZ¥K cÖ‡Póv Pvwj‡q hv‡”Q| ms‡hvM ¯’vcb Kiv n‡q‡Q| e¨vsK mvgvwRK I HwZn¨evnx gva¨‡g wbqwgZ Ges

| Annual Report 2024 39

kw³kvjx Dcw¯’wZ eRvq †i‡L‡Q, †hLv‡b cÖavb Kvh©µg, bxwZMZ cwieZ©b Ges Pj‡Z e¨vswKs Kvh©µg ¯^qswµqKiY, Kg©x `¶Zv e„w× I †KŠkjMZ Askx`vwiZ¡
MÖvnK †mev m¤ú‡K© wbqwgZ Avc‡WU cÖ`vb Kiv n‡q‡Q| GB c×wZ‡Z MÖvnK Kv‡R jvMv‡bv n‡”Q| cvkvcvwk, †UKmB PP©v Ges Avw_©K AšÍf©yw³ e„w× RvZxq
AskMÖnY e„w× †c‡q‡Q, A¨vKvD›U †Lvjvi msL¨v †e‡o‡Q Ges kni I MÖvgxY Dbœqb Kg©m~wP Ges AvšÍR©vwZK gv‡bi m‡½ mvgÄm¨ ivLvi cÖ‡Póv Ae¨vnZ Av‡Q|
Dfq evRv‡iB eª¨v‡Ûi ¯^xK…wZ DbœZ n‡q‡Q|
evsjv‡`‡ki e¨vswKs Lv‡Z ˆewk¦K I ¯’vbxq Pvwn`v weKwkZ n‡Z _vKvq †ewmK
e¨vsK 2024 mv‡j KwgDwbwU cÖwZwbwa‡Z¡I mwµq f‚wgKv cvjb K‡i‡Q| RvZxq e¨vsK‡K hy‡Mvc‡hvMx I P¨v‡jÄ †gvKv‡ejvq m¶g K‡i †Zvjv n‡”Q| AvMvgx
Abyôvb I ¸iæZ¡c~Y© w`b¸‡jv kvLv¸‡jv‡Z D`hvwcZ n‡q‡Q, †hLv‡b ¯’vbxq eQ‡i AviI my¯’ g~jab h_vh_Zv (Capital Adequacy), BKz¨BwUi Dci
Askx`vi‡`i AskMÖnY I wcÖ›U I wWwRUvj wgwWqvq cÖPviYv wQj| Gme D‡`¨vM DbœZ wiUvb©, Ges bb-cvidwg©s †jv‡bi AbycvZ n«v‡mi Rb¨ `„X় wfwË M‡o †Zvjv
e¨vsK Ges RbM‡Yi g‡a¨ mvwbœa¨ I mvs¯‹…wZK ms‡hvM kw³kvjx Ki‡Z ¸iæZ¡c~Y© n‡q‡Q| mwVK †KŠkj MÖnY Ges `xN©‡gqv`x j¶¨¸‡jvi cÖwZ ¸iZ¡ w`‡q †ewmK
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Ges †`‡ki Avw_©K I A_©‰bwZK AMÖMwZ‡Z Zvrch©c~Y© Ae`vb ivL‡Z m¶g|
miKvwi I †emiKvwi Lv‡Zi wewfbœ ms¯’vi m‡½, we‡kl K‡i ¯^v¯’¨‡mev,
BDwUwjwU Ges wkí Lv‡Z, Askx`vwiZ¡ AviI Mfxi Kiv n‡q‡Q, hvi d‡j K…ZÁZv Ávcb
e¨vs‡Ki wek¦vm‡hvM¨Zv e„w× †c‡q‡Q Ges K‡c©v‡iU m¤úK© we¯Í„Z n‡q‡Q|
Gw`‡K, mvgvwRK AšÍf©yw³ Kg©m~wP †hgb ¯‹zj e¨vswKs I Z…Yg~j ch©v‡qi †mev †ewmK e¨vsK wjwg‡U‡Wi cwiPvjbv cl©` evsjv‡`‡ki †K›`ªxq e¨vsK I A_©
m¤cÖmviY, e¨vs‡Ki mgv‡Ri me ¯Í‡ii gvby‡li Rb¨ †mev cÖ`v‡bi wgkb‡K gš¿Yvj‡qi Avw_©K cÖwZôvb wefvM‡K Zuv‡`i g~j¨evb wb‡`©kbv, wbqš¿K mnvqZv
mg_©b K‡i Ges AvbyôvwbK Avw_©K †mevq cÖ‡ekvwaKvi evovq| Ges AwePj mn‡hvwMZvi Rb¨ AvšÍwiK K…ZÁZv cÖKvk K‡i| Zuv‡`i
mg‡qvc‡hvMx n¯Í‡¶c I bxwZ wba©viY e¨vsK‡K MVbg~jK I A_©‰bwZK P¨v‡jÄ
2024 mv‡j †ewmK e¨vs‡Ki eª¨vÛ Movi hvÎvq wQj avivevwnKZv, KwgDwbwU †gvKv‡ejvq c_cÖ`k©K wn‡m‡e KvR K‡i‡Q, hv w¯’wZkxjZv wbwðZ K‡i‡Q|
AskMÖnY Ges MÖvnK-†Kw›`ªK †hvMv‡hv‡Mi w`‡K AMÖmi nIqv| Gme cÖ‡Póv
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40 | Annual Report 2024

Bismillahir Rahmanir Rahim external headwinds but supported by rising real
Respected Shareholders, incomes.
Assalamu Alaikum
Emerging Markets and Developing Economies
The Board of Directors of BASIC Bank Limited extends (EMDEs) grew at 4.0%–4.2%, slightly slower than
a warm welcome to all esteemed shareholders on the 2023’s 4.3%. India was a standout, with growth at
occasion of the 36th Annual General Meeting of the 6.8%–7.0%, driven by strong domestic demand and
Bank. We are honored to present the Directors’ Report infrastructure investment. China’s growth slowed to
along with the Audited Financial Statements for the 4.6%–5.0%, impacted by property sector challenges
year ended 31 December 2024. and trade tensions. Sub-Saharan Africa saw growth of
3.5%, supported by domestic demand but constrained
This report encapsulates a comprehensive account of by high debt and reduced external aid.
the Bank’s performance across various dimensions
during the year 2024. In discharging our fiduciary Growth in Low-Income Countries (LICs) accelerated to
responsibilities, the Board has meticulously reviewed 5.0% from 3.8% in 2023, but forecasts were
the financial statements to evaluate the financial health downgraded for three-quarters of these economies
of the Bank, ensure transparency in its operational due to conflict, food insecurity, and climate-related
processes, and uphold the accuracy and reliability of challenges. Per capita income growth remained
its financial disclosures. insufficient to significantly reduce extreme poverty.

Prior to delving into the detailed review of the Bank’s Global inflation moderated significantly in 2024,
operational achievements, this report outlines the declining from 6.8% in 2023 to an estimated
major developments in the global and domestic 3.5%–5.9%. This decline was driven by lower
economic landscape, as well as prevailing trends commodity prices, unwinding supply chain disruptions,
within the banking sector — all of which significantly and sustained high interest rates. However, core
shaped the Bank’s strategic direction and performance inflation, particularly in services, remained elevated in
during the year under review. many regions, prompting central banks to adopt
cautious monetary policy stances. In the Eurozone,
Global Economic Scenario inflation fell to 1.9%–2.3% by mid-2024, enabling the
European Central Bank (ECB) to cut rates by 200 basis
In 2024, the global economy demonstrated resilience points since June 2024, bringing policy rates to 1.50%
amid a complex backdrop of moderating inflation, by year-end. In the United States, the Federal Reserve
monetary policy adjustments, and rising geopolitical reduced rates by 100 basis points but maintained a
and trade uncertainties. Global GDP growth stabilized cautious approach due to upside risks from tariffs and
at approximately 2.6%–3.2%, a level below the fiscal expansion, with core inflation at 2.5% by April.
pre-COVID-19 decade average of 3.1%, reflecting a Japan’s Bank of Japan resumed rate hikes, targeting
slowdown in economic momentum compared to the 1% by year-end amid rising wage-price dynamics.
post-pandemic rebound. Inflation continued to decline Inflation in EMDEs eased to 7.0% in 2024 from 8.4% in
globally, falling to an estimated 3.5%–5.9%, driven by 2023, with further moderation expected to 6.1% in
easing supply-side pressures and tighter monetary 2025. However, countries like Bangladesh faced
policies, though core inflation remained persistent in persistent inflationary pressures (9.7% in 2024) due to
some regions. However, challenges such as trade supply chain disruptions and currency depreciation.
disruptions, high public debt, and geopolitical tensions Central banks in EMDEs adopted divergent
posed downside risks, while opportunities emerged approaches, with some easing rates (e.g., Brazil) and
from technological advancements and policy reforms others tightening to stabilize currencies.
in select economies.
Trade tensions and geopolitical uncertainties were
Global economic growth in 2024 was characterized by significant headwinds in 2024. The imposition of new
stabilization but remained subdued compared to U.S. tariffs and retaliatory measures by other countries
historical standards. The World Bank estimated global disrupted global supply chains, reducing global growth
GDP growth at 2.6%, steady from 2023 but significantly forecasts by 0.2–0.8 percentage points. Global trade
lower than the 3.1% average in the decade before the growth weakened, particularly affecting commodity
pandemic. The IMF projected a slightly higher growth exporters and economies reliant on intermediate
rate of 3.2% for 2024, consistent with 2023, with goods. Geopolitical tensions, including ongoing
advanced economies growing at 1.6% and emerging conflicts in Ukraine and the Middle East, exacerbated
market and developing economies (EMDEs) at 4.2%. supply chain strains and commodity price volatility.

Growth in advanced economies remained steady at Rising protectionism and non-tariff barriers increased
around 1.5%–1.7%. The United States led with a costs and uncertainty, particularly for EMDEs
robust 2.6%–2.8% growth, supported by productivity integrated into global value chains. China faced
gains and less restrictive monetary policy, though challenges from U.S. tariffs, contributing to a projected
signs of cooling emerged late in the year. The growth slowdown to 4.5% in 2025. Conflicts and civil
Eurozone grew modestly at 0.8%–1.1%, with Germany unrest in the Middle East and Sub-Saharan Africa led
stagnating at 0.0%–0.2% due to weak industrial output, to downward revisions in regional growth outlooks.
while Spain outperformed at 2.4%–2.9%. Japan’s These disruptions also heightened food and energy
growth was sluggish at 0.3%–0.7%, constrained by insecurity, particularly in LICs.

| Annual Report 2024 41

The global financial sector showed mixed resilience in remittance inflows. However, foreign exchange
2024. While banks remained well-capitalized overall, reserves declined sharply from $48 billion in August
vulnerabilities persisted in EMDEs, with 30% of these 2021 to $20.8 billion by February 2024, prompting
countries facing high financial sector risks due to import restrictions.
exposure to sovereign debt and inadequate policy
frameworks. The sovereign-bank nexus, where banks The banking sector faced significant stress, with NPLs
hold significant government debt, emerged as a key reaching Tk 3.45 trillion by end of 2024, accounting for
risk, with EMDE banks’ exposure to government debt 20.2% of total assets. The gross NPL ratio rose to 9%
rising by over 35% between 2012 and 2023. by December 2023. The Bangladesh Bank introduced
a Prompt Corrective Action framework and proposed
High global interest rates (averaging 4% over bank mergers to address vulnerabilities.
2025–26) tightened financial conditions, particularly for
developing economies with high debt burdens. A Credit growth to the private sector slowed to 8.4% in
stronger euro and aversion to dollar holdings FY2024, against a target of 14.8%, reflecting a broader
influenced exchange rate dynamics, supporting investment slowdown. Tight liquidity conditions, driven
disinflation in the Eurozone. by unsterilized forex interventions and weak deposit
growth, further constrained lending.
Global growth is projected to edge up slightly to
2.7%–3.3% in 2025, with advanced economies The Taka depreciated by 34.8% against the USD from
accelerating to 1.7%–1.8% and EMDEs maintaining 2014 to 2024, with the exchange rate at 110 Taka per
growth at 4.0%–4.2%. Inflation is expected to decline USD by January 2024. The Bangladesh Bank adopted
further to 2.9%–4.5%, though persistent services a crawling peg system in May 2024 to enhance
inflation and trade disruptions could delay exchange rate flexibility, but reserves remained under
convergence to central bank targets. Policymakers will pressure, necessitating import controls.
need to balance fiscal consolidation with
growth-enhancing reforms while navigating trade and Export growth was robust, Bangladesh's exports
geopolitical uncertainties. International cooperation to reached a record $50 billion in 2024, marking an 8.3%
reduce trade barriers and address climate challenges year-on-year growth. The ready-made garments
will be critical to sustaining global economic stability. (RMG) sector remained the backbone of the economy,
generating steady growth compared to the previous
Economic Scenario of Bangladesh in 2024 year. Bangladesh received a record $26.9 billion in
remittances in 2024, marking a 23% year-on-year
The economic scenario of Bangladesh in 2024 reflects increase. This surge provided crucial support to the
a complex landscape marked by a slowdown in growth, country's external sector, helping stabilize foreign
persistent inflationary pressures, financial sector exchange reserves. The pharmaceutical industry grew
vulnerabilities, and external sector challenges, at a 12% annual rate, meeting 98% of domestic
compounded by political instability and global demand and exporting to 150 countries, positioning
uncertainties. Bangladesh as a leader among least-developed
countries. Agriculture: Supported by government
Bangladesh’s real GDP growth slowed significantly in subsidies, agriculture ensured food self-sufficiency but
fiscal year 2024 (July 2023–June 2024), recording a faced challenges from repeated floods.
growth rate of 4.2%, down from 5.8% in FY2023. The
World Bank further revised its forecast for FY2025 to Bangladesh is set to graduate from Least Developed
4.0%, the lowest in two decades, citing weak Country (LDC) status in November 2026, which will
consumption, subdued investment, and industrial reduce preferential market access for RMG exports.
sector slowdown. This marks a departure from the Low trade diversification and an overreliance on RMG
robust 6.2% average annual growth over the past expose the economy to external shocks. The mass
decade. uprising and violence in July–August 2024 caused
economic disruption exceeding $1.2 billion,
Inflation remained elevated, averaging 10.87% in exacerbating inflation and disrupting economic activity.
2024, with food inflation peaking at 14% due to political Political uncertainty continues to dampen investor
turmoil and supply chain disruptions. The Bangladesh confidence. Infrastructure deficiencies persist despite
Bank’s monetary tightening efforts, including raising projects like the Padma Bridge and Dhaka Metro Rail.
the policy rate to 10% by year-end, aimed to curb
inflation but were hampered due to lending rate caps. The World Bank and IMF emphasize the need for bold
reforms, including widening the tax base,
The fiscal deficit moderated to 4.5% of GDP in strengthening financial sector oversight, and improving
FY2024, with projections to remain at 4.3% in FY2025. the business environment to attract FDI. The IMF’s
Low tax revenue (8.2% of GDP, among the world’s $4.7 billion loan program, approved in January 2023,
lowest) constrained public investment in critical sectors supports structural reforms, with $1.3 billion disbursed
like infrastructure and human capital. Deficit in May 2024 to bolster reserves. Rising income
monetization and reliance on indirect taxes (two-thirds inequality (Gini index from 0.50 to 0.53 between
of revenue) further strained fiscal space. 2010–2022) and stagnant job creation, particularly for
youth and women, pose social risks. The World Bank’s
The current account deficit narrowed to $6.5 billion in Country Private Sector Diagnostic suggests reforms in
FY2024, driven by import contraction and robust green RMG, housing, and digital financial services

42 | Annual Report 2024

could create millions of jobs. However, downside risks sector, attracted attention from global investors,
include global trade uncertainties, tariff increases, and supported by infrastructure improvements. The RMG
domestic financial vulnerabilities. industry’s global competitiveness, with Bangladesh
hosting 54 of the top 100 LEED-certified green
The 2024 economic scenario underscores the need for garment factories, positioned it as a leader in
prudent risk management amid rising NPLs and sustainable production, enhancing export appeal.
liquidity constraints. Banks should prioritize Megaprojects like the Padma Bridge, expected to
strengthening asset quality, adhering to the new boost GDP by 1.23%, and the Dhaka Metro improved
Prompt Corrective Action framework, and exploring connectivity and economic efficiency, creating
opportunities in digital financial services and green opportunities for long-term growth. The pharmaceutical
financing to align with reform priorities. Supporting sector grew at an average annual rate of 12%, meeting
export-oriented industries, particularly RMG and 98% of domestic medicine demand and positioning
pharmaceuticals, and leveraging remittance inflows Bangladesh as a near-self-sufficient producer with
can drive lending opportunities. However, exposure to export potential.
political and external risks requires robust contingency
planning. Bangladesh achieved remarkable progress in poverty
reduction, with poverty declining from 11.8% in 2010 to
Economic Outlook
5.0% in 2022 (based on the $2.15/day poverty line)
Bangladesh’s economy showcased resilience and and moderate poverty falling from 49.6% to 30.0%
potential for growth, despite global and domestic (based on the $3.65/day line). Continued investments
challenges, as outlined by various international in education and healthcare supported long-term
organizations and economic analyses. Bangladesh’s development, with a focus on improving opportunities
real GDP growth was 5.82% for fiscal year (FY) 2024 for youth and women.
(July 2023–June 2024), slightly up from 5.78% in
FY23, reflecting a cautious but stable performance The economy was projected to rebound to 4%–5%
amid global uncertainties. The Asian Development growth in FY25 and 5%–5.5% in FY26, driven by
Bank (ADB) projected a slightly higher growth rate of improving global conditions, strong remittance inflows,
6.2%, underscoring the economy’s ability to navigate and export growth. Opportunities for growth included
challenges. Over the past decade, Bangladesh has further diversifying exports, leveraging infrastructure
maintained an impressive average growth rate of investments, and enhancing Bangladesh’s appeal as a
5.86%, highlighting its strong economic foundation. destination for foreign direct investment (FDI) through
its sustainable manufacturing leadership and strategic
The ready-made garments (RMG) sector, contributing trade initiatives, such as potential participation in the
about 10% of GDP and 85% of exports, remained a WTO’s Joint Initiative on Investment Facilitation
key driver. Exports grew by 8.3% year-on-year, for Development. Bangladesh’s leadership in green
reflecting robust global demand for Bangladeshi manufacturing and its resilient economic performance
textiles. The agricultural sector continued to support positioned it as a key player in South Asia’s economic
food security and rural livelihoods, sustaining its role as landscape, with potential to attract further international
a vital economic pillar. The services sector maintained support and investment.
steady activity, while industrial output, particularly in
manufacturing, showed resilience despite global Bangladesh demonstrated economic resilience despite
demand fluctuations. global challenges, with strong performances in the
RMG sector, rising remittances, and transformative
Inflation averaged 9.7% in FY24, driven by global food infrastructure projects. The pharmaceutical industry
and energy price pressures. The Bangladesh Bank and sustainable manufacturing initiatives further
introduced measures like a crawling peg exchange enhanced its global standing. With continued focus
rate system in May 2024 to stabilize the currency and on export growth, infrastructure development, and
support economic resilience. By late 2024, inflation economic diversification, Bangladesh is well-
showed signs of moderation, reflecting effective positioned for a robust recovery and sustained growth
monetary management by Bangladesh Bank. Efforts to in the coming years, supported by international
address the cost-of-living pressures helped stabilize
partnerships and its dynamic economic base.
household purchasing power, with food inflation easing
slightly after peaking earlier in the year.

Strong remittance inflows, marking a 23% Review of BASIC Bank’s Operations

year-on-year increase, bolstered foreign exchange
reserves, which were surpass $26 billion in 2024. The The year 2024 marked another important phase in
IMF’s $4.7 billion loan program, with disbursements in BASIC Bank Limited’s journey of consolidation and
2023 and 2024, supported economic stability and growth within Bangladesh’s dynamic banking sector.
provided resources for sustainable growth initiatives. While the Bank continued to navigate through legacy
The financial sector continued to facilitate economic challenges, the operational and strategic initiatives
activity, with ongoing efforts to enhance liquidity and implemented during the year laid a strong foundation
support lending for businesses and consumers. for sustained recovery and future success.
Bangladesh’s growing reputation as a hub for Despite a challenging operating environment, BASIC
sustainable manufacturing, particularly in the RMG Bank demonstrated its pivotal role in facilitating trade

| Annual Report 2024 43

finance activities that contribute significantly to profitability and deliver value to its stakeholders.
Bangladesh’s economy. In 2024, the Bank managed
import business amounting to Tk. 28,487.60 million, 2024 was a year marked by resilience and strategic
while export financing rose impressively to Tk. groundwork. The Bank remains dedicated to
33,641.90 million, reflecting a strong commitment to overcoming challenges and leveraging its strengths to
supporting the country’s export-led growth strategy. contribute meaningfully to the nation’s financial sector
This increase in export financing is a positive indicator and economic development.
of the Bank’s alignment with national economic
priorities and its efforts to support businesses engaged Banking Network
in international trade.
BASIC Bank Limited provides a wide range of banking
The Bank’s financial position reflected a cautious and services through its 72 branches, located across
prudent approach to risk management and asset strategically important rural and urban areas of the
quality. While total assets stood at Tk. 148,351.32 country. To further extend service accessibility, 37
million, and deposits reached Tk. 135,529.28 million, sub-branches have been established at key locations,
the Bank focused on optimizing its loan portfolio and with plans in place to open additional sub-branches in
lowering a high loan-to-deposit ratio of 93.47%, upcoming years. In recent years, several branches
demonstrating efficient mobilization and deployment of have also been relocated to more suitable locations to
funds despite market uncertainties. enhance service delivery and operational efficiency.

Financial results showed a gross income of Tk. In addition, the Bank facilitates bill collection through
6,078.49 million against gross expenditure of Tk. 13 collection booths, located in various regions
14,478.35 million, resulting in a loss before tax of Tk. including 6 in Dhaka, 2 in Cox’s Bazar, and 1 each in
8,399.86 million. These results, though challenging, Mymensingh, Barishal, Kushtia, Gazipur, and
are understood in the context of ongoing efforts to Patuakhali. These booths play a supportive role in
resolve legacy asset quality issues and strengthen the easing customer transactions and improving service
capital base. The Bank’s negative capital adequacy convenience.
ratio of -8.10% highlights the need for continued capital
support, which remains a strategic priority for restoring As part of its commitment to enhancing customer
balance sheet strength. convenience, the Bank is a member of the Q-Cash
network—one of the largest shared ATM networks in
Operational efficiency remains a key focus area. The Bangladesh. Currently, this network provides Bank
Bank’s workforce was streamlined to 1,808 customers with access to approximately 3,147 ATMs
employees, a step towards enhancing productivity. located across the country, ensuring uninterrupted
Deposit per employee stood at Tk. 74.96 million and banking services even beyond branch locations. The
advances per employee at Tk. 71.29 million, reflecting Bank operates its own network of ATM booths,
continued focus on maximizing output per resource. including 15 in Dhaka Division, 3 in Barishal, 2 each in
Loss before tax per employee was contained at Tk. Chattogram and Rajshahi, and 1 each in Khulna,
4.65 million, underscoring management’s commitment Sylhet, and Cumilla. Expansion plans are in place to
to cost control and resource optimization. install more ATMs in key areas to enhance
accessibility and service delivery.
The Bank’s governance and strategic oversight
remained robust during the year, with the Board of Technology
Directors providing steady guidance on risk
management, compliance, and business development. Since its inception, BASIC Bank has prioritized the
Digital transformation initiatives were prioritized to integration of information technology into its banking
improve service delivery, with investments planned for operations. The Bank began its digital journey in 1991
upgrading digital platforms and introducing innovative by developing its own in-house banking software,
banking products that meet evolving customer needs which was later replaced with a centralized, real-time
in a post-pandemic environment. Core Banking System (CBS) to enhance service
efficiency and customer experience. For over a
BASIC Bank’s commitment to social responsibility and decade, all branches, sub-branches, and the Head
financial inclusion remained steadfast, with ongoing efforts Office have been operating seamlessly through this
to expand outreach through school banking and grassroots centralized platform.
financial services. These initiatives not only foster trust
within the community but also contribute to building a Recognizing the transformative role of ICT in modern
broader, more inclusive financial ecosystem in Bangladesh. banking, BASIC Bank continues to embrace financial
technologies and digital innovations to meet evolving
Looking forward, the Bank is optimistic about its customer demands. The Bank remains committed to
prospects for 2025 and beyond. Key strategic delivering prompt, secure, and efficient services while
initiatives include capital restructuring, enhanced risk maintaining convenience and adaptability. This is
mitigation frameworks, continued modernization of achieved through continuous system upgrades,
digital infrastructure, and strengthening of core automation enhancements, and the implementation of
banking operations. With a clear focus on sustainable advanced digital tools.
growth, customer-centricity, and operational In this pursuit of digital excellence, BASIC Bank has
excellence, BASIC Bank is positioned to regain introduced several forward-looking solutions aimed at

44 | Annual Report 2024

supporting a cashless and paperless society. These cybersecurity measures in accordance with the latest
include: directives from Bangladesh Bank. Regular vulnerability
assessments, penetration testing, and configuration
• "Magpie", a comprehensive digital banking app reviews are conducted by independent external auditors.
enabling customers to conduct transactions, Security for the Bank’s SWIFT system has also been
manage accounts, and access a wide range of fortified to safeguard against potential cyber threats.
banking services with ease.
• "BASIC i-Account", an e-KYC based digital BASIC Bank remains committed to leveraging
onboarding platform that streamlines the account technology to drive innovation, improve service
opening process and reduces reliance on physical delivery, and contribute to the development of a
documentation. sustainable, smart, and inclusive financial ecosystem.
• "Remit365", a centralized remittance platform that
ensures secure and swift cross-border Risk Management
transactions, promoting financial inclusion and
global connectivity. The Bank constantly requires efficient and effective
systems for risk management, i.e. identification,
These initiatives mark significant progress toward a measurement, monitoring, and control of risk across
more accessible, efficient, and transparent digital the Bank. Hence, BASIC Bank has developed an
banking ecosystem—contributing to the broader vision inclusive risk management culture where risk
of a Smart Bangladesh. management is considered to be a responsibility
shared by all concerned.
To further strengthen operational efficiency, the Bank
utilizes various proprietary software solutions The Board of Directors (BoD) with support from the
developed by its internal IT team. BASIC Bank has Risk Management Committee of the Board (BRMC)
also long facilitated online utility bill collection through plays the most important role in managing risk of the
its dedicated platform. All branches are interconnected Bank. The Board establishes organizational structure
with the Head Office, Data Center, and Disaster for risk management within the Bank; reviews the
Recovery Site via a robust Wide Area Network (WAN), inherent risks of banking operations and approves risk
ensuring uninterrupted service delivery. management policy, procedures, and guidelines for the
Bank at strategic level while approving loans and
In response to growing customer needs for convenient advances and making other decisions. The BRMC sets
payment solutions, the Bank has launched a up various risk governance structure and risk
Visa-branded Contactless Dual Currency Credit Card. philosophy; monitors implementation of risk
Additionally, BASIC Bank maintains an official management policies and process to ensure effective
presence on social media platforms to share updates prevention, control measures and sustainability;
and enhance customer engagement. observes overall risk profile of the Bank and updates
the Board from time to time. The BRMC also reviews
The Bank provides remittance services at its branches risk policies and recommends to the BoD.
to both regular and walk-in customers through
partnerships with renowned global networks, including The management of the Bank implements the policies
Western Union, Ria, MoneyGram, Agrani Remittance and the strategies approved by the BoD. Board Risk
House (Malaysia), and Agrani Exchange House Pte. Management Committee (ERMC) continuously
Ltd. (Singapore) and other renowned exchange monitors policies, and the threshold limits of risks that
houses. may be taken in line with the Bank’s risk appetite.
ERMC also monitors the activities of 06 Core Risks
BASIC Bank actively participates in the national Addressing Committees of the Bank which were
payment infrastructure, including: formed for the effective governance of individual core
• Bangladesh Automated Cheque Processing risk areas. Moreover, to facilitate overall Supervisory
System (BACPS) Review Process (SRP) in the Bank as well as to
• Bangladesh Electronic Fund Transfer Network assess the Bank’s capital adequacy, risk position,
(BEFTN) resulting capital levels, and quality of capital held, the
• Real Time Gross Settlement System (RTGS) SRP Team of the Bank works under comprehensive
• Electronic Dealing System for Interbank Money supervision of the BRMC and assigns tasks to
Market (EDSMoney) operational level.
• Market Infrastructure Module (MI Module) for
trading government securities Since the full array of risk management functions,
processes, governance, programs, and practices
The Bank provides e-GP services through all branches constitutes the risk management framework,
for participants in the national e-tendering platform operational level encompasses the first line of risk
operated by CPTU. The Bank also provides ATM and management, where risks originate in front-offices of
Debit Card services through the Q-Cash shared the Bank. At this level, BASIC Bank with its branches,
network and the National Payment Switch Bangladesh circles and divisions, works rigorously to identify,
(NPSB). Additionally, e-Commerce services are assess, measures, mitigate and report risk. Moreover,
facilitated via the NPSB payment gateway. the Bank’s risk management structure includes a
In line with regulatory guidelines, BASIC Bank has separate Risk Management Division having focus on
updated its ICT Security Policy and strengthened its Credit Risks, Market Risks, Liquidity Risks,

| Annual Report 2024 45

Operational Risks, Risk Research & Policy Kazi Zahir Khan & Co. (Chartered Accountants), have
Development, Capital Management and Stress Testing duly audited and certified the authenticity of these
with clearly assigned duties and responsibilities of the financial statements.
desks officials of the Division.
Contribution to National Exchequer and Economy
Besides, BASIC Bank has put in place a number of
policies, viz., (i) Credit Policy (ii) ALM Policy (iii) The Bank has remained compliant in discharging its
Treasury Risk Management Policy (iv) ICC Policy (v) corporate tax obligations, with a total of Taka 150.34
AML & CFT Policy (vi) ICT Policy, (vii) Wholesale million deposited to the national exchequer in 2024. In
Borrowing and Funding Guidelines, (viii) Liquidity addition to its own tax payments, the Bank continues to
Contingency Plan, (ix) Risk Management Policy, (x) support the National Board of Revenue (NBR) by
Fraud Management Policy, (xi) ICAAP Policy for collecting and depositing various government levies at
providing guidelines for managing risks efficiently. source. These include income tax, value-added tax
BASIC Bank encourages its employees, at all levels, to (VAT), excise duty, and other statutory deductions
adhere to the regulatory, as well as internal policies, arising from interest payments on deposits,
guidelines and procedures for prudential risk procurement of goods and services, employee
management. Additionally, regular training programs, salaries, and banking services provided to customers.
workshops, and audits have enhanced risk awareness All such collections are regularly deposited into the
and culture among employees and management of the government treasury in accordance with applicable
Bank. laws and regulatory directives.

Capital Position Memorandum of Understanding (MoU)

The year-end capital position of the Bank stands as With a view to making its standpoints and
under: commitments relating to improvement of overall
financial condition and practice of safer, prudent and
(million taka) sound banking culture in ‘black and white’, BASIC
Bank signed first MoU with Bangladesh Bank in July,
Particulars 2024 2023 2013. Henceforth, MoU has been signed with
Paid up capital 10,846.98 10,846.98 Bangladesh Bank every year (except the year 2019
and 2020) after revising few contents of MoU. The
Total shareholders’ equity (14,540.78) (6,142.49) prevailing MOU with Bangladesh Bank has been
Total capital (15,052.28) (6,313.40) signed on 03 January, 2023 for 03 years i.e. for 2023,
2024 and 2025.
Capital Deficit (33,636.95) (25,149.47)
The MoU dictates the Bank for compliance of some
Capital position of the Bank has not been up to the targets and conditions such as increasing Capital to
mark due to accumulation of losses over the last few Risk weighted Asset Ratio (CRAR), restraining growth
years despite receiving regulatory forbearance for of loans and advances, improving asset quality,
maintaining provision against loans and advances augmenting cash recovery, improving liquidity,
gradually and not adjusting the remaining required minimizing operating expenses, reducing classified
provision in calculating regulatory capital of the Bank. loans and ADR (Advance Deposit Ratio), increasing
earnings, improving risk management, developing
Appointment of Auditors human resources, digitizing payments infrastructure,
submitting audited balance sheet and regulatory
In accordance with Section 210 of the Companies Act, reporting in time etc.
1994, Kazi Zahir Khan & Co., Chartered Accountants,
was appointed as the statutory auditors of BASIC Bank To attain the targets set by Bangladesh Bank, the Board
Limited for the year 2024, following the decision of the of Directors approves necessary policy, crafts effective
Board of Directors. plans and devises accommodative strategies. The Board
reviews and evaluates management’s performance
Financial Reporting regularly against those agreed targets. Although the Bank
fell behind to achieve the targets due to inevitable
The Bank has consistently maintained accurate and reasons, it is striving to attain closer to the targets.
proper books of accounts for the year 2024. The
financial statements have been prepared in full Development of Human Resources
compliance with Bangladesh Accounting Standards
(BAS), Bangladesh Financial Reporting Standards Human resources remain the most valuable asset of
(BFRS), applicable provisions of The Bank Companies the Bank, serving as the primary driving force behind
Act, 1991 (as amended up to 2023), and other relevant its sustained growth and operational success. In
laws and regulations issued by regulatory authorities, today’s dynamic and competitive environment, every
adhering to the format prescribed by Bangladesh employee acts as a representative of the organization,
Bank. As of 31st December 2024, the financial and the collective and individual efforts of staff are
statements present a true and fair view of the Bank’s indispensable in achieving institutional objectives.
financial position, performance, cash flows and Recognizing this, the Bank places strong emphasis on
changes in equity. The statutory external auditors, continuous capacity building and professional

46 | Annual Report 2024

development. Throughout the year, various training on rebuilding reputation through operational excellence
programs, workshops, and seminars are organized at and visible community engagement. The Bank’s core
the Bank’s own training institute, covering a broad strengths-service quality, financial discipline, and
range of banking operations. In addition, employees employee integrity-were actively leveraged to reinforce
are regularly nominated to attend specialized training stakeholder trust. To support this goal, branding initiatives
courses conducted by reputed professional institutions were closely aligned with operational performance, with
such as the Bangladesh Institute of Bank Management notable improvements seen in remittance facilitation,
(BIBM), Bangladesh Bank Training Academy, and export-import support, and customer service efficiency via
other recognized local and international bodies. These enhanced digital platforms.
initiatives aim to enhance employee skills, promote
operational excellence, and ensure preparedness for Visibility and outreach were expanded significantly in
emerging trends and challenges in the banking sector. 2024. A combined marketing strategy-incorporating
In 2024, a total of 76 training programs were conducted both conventional channels and digital media-was
with the participation of 1,773 employees, reflecting the implemented to connect with diverse customer
Bank's strong emphasis on continuous learning and segments. The Bank maintained a strong and
professional development. The majority of these consistent presence on social and traditional platforms,
training sessions—29 in total—were organized by the where updates on key operations, policy changes, and
BASIC Bank Training Institute (BBTI), engaging 1,712 customer services were regularly communicated. This
participants across various operational and strategic approach contributed to higher customer engagement,
topics. In addition to in-house initiatives, the Bank also increased account openings, and improved brand
facilitated external training opportunities for its recognition across urban and rural markets.
employees. A total of 15 training programs were
attended at the Bangladesh Institute of Bank The Bank also took an active role in community
Management (BIBM), with 18 participants benefiting representation throughout the year. National events
from specialized courses. The Bangladesh Bank and significant calendar days were observed across
Training Academy (BBTA) hosted 14 training programs branches, with participation from local stakeholders
attended by 14 participants, while training sessions and wide coverage in print and digital media. These
conducted directly by Bangladesh Bank saw the efforts played a vital role in strengthening the
participation of 19 employees across 11 different emotional and cultural connection between the Bank
programs. Furthermore, 10 employees took part in 7 and the public.
training sessions organized by other reputed
institutions. These initiatives collectively aimed to Partnerships were further deepened with both public
enhance technical proficiency, regulatory compliance, and private sector entities, particularly in healthcare,
and leadership capacity across various levels of the utilities, and industrial sectors, to reinforce the Bank’s
Bank’s workforce, thereby ensuring alignment with credibility and broaden its corporate relationships.
modern banking practices and institutional goals. Meanwhile, financial inclusion programs-including
school banking and grassroots-level outreach-were
To ensure the effective implementation of its human expanded in line with the Bank’s mission to serve all
resource development initiatives, the Bank allocates segments of society and enhance access to formal
dedicated funding in its annual budget each year. In financial services.
2024, a total of Taka 2.0 million was earmarked for
organizing training programs, workshops, seminars, In 2024, BASIC Bank's brand-building journey was
and employee recognition activities. This financial marked by consistency, community engagement, and
commitment underscores the Bank’s continued focus a shift toward customer-first communication. These
on enhancing staff capacity and motivation. In addition, efforts have laid the groundwork for sustained public
recognizing the importance of professional trust and have positioned the Bank to emerge as a
qualifications in the banking sector, the Bank also stronger, more inclusive institution in the coming years.
allocated a separate budget of Taka 2.0 million
specifically to reward employees who successfully The Way Forward
completed the Banking Diploma Examination. This
initiative reflects the Bank’s encouragement of The financial institutions of Bangladesh remain driven
academic excellence and its commitment to fostering a by a collective mission: to foster inclusive growth and
knowledgeable and skilled workforce. ensure the long-term prosperity of the nation.
Throughout 2024, BASIC Bank remained aligned with
Building a Sustainable Brand this national priority, even as the financial landscape
underwent substantial change, both globally and
In 2024, deliberate steps were taken to further domestically. The challenges posed by inflationary
strengthen BASIC Bank’s institutional image and pressures, currency volatility, geopolitical
enhance public confidence, marking a critical phase in uncertainties, and tightening monetary policies were
the Bank’s ongoing efforts to build a sustainable brand. met with caution and resolve across the banking sector.
Recognizing the competitive and rapidly evolving A number of structural shifts were observed in the
nature of the banking sector, particular focus was industry, notably those related to regulatory
placed on positioning the Bank as a reliable, compliance, evolving risk landscapes, and digital
customer-centric, and transparent financial institution. disruption. Customer expectations also continued to
Throughout the year, strategic branding efforts were change, influenced by post-pandemic behavior and an
guided by the Board of Directors, with a strong emphasis increasing preference for digital engagement. In such a

| Annual Report 2024 47

complex environment, it became clear that resilience, role in navigating the Bank through structural and
innovation, and adaptability would be crucial in shaping economic challenges, ensuring stability and regulatory
the future of banking. compliance.

In response to these developments, a comprehensive Our sincere thanks are reserved for the Government of
strategy has been adopted by BASIC Bank for the People’s Republic of Bangladesh, the sole
the coming year, with emphasis placed on shareholder of the Bank, for its unwavering
customer-centricity, operational optimization, prudent commitment and strategic support in restoring BASIC
risk governance, and technological transformation. The Bank’s institutional health. The Government’s
ongoing enhancement of digital banking platforms is continued confidence remains the cornerstone of our
being prioritized to meet the growing demand for resilience and reform journey. In a global economic
secure, fast, and convenient services. At the same time, landscape marked by volatility, inflationary pressures,
the development and delivery of innovative financial and the prolonged impacts of the Russia-Ukraine
products are being designed to address the shifting conflict, the trust of our stakeholders has proven to be
needs of individual and institutional clients alike. an invaluable asset. The Board extends heartfelt
appreciation to the autonomous and public institutions
To ensure satisfactory and customer-friendly service, that have placed their funds and faith in the Bank,
reinforcing our role as a safe and reliable custodian of
several important initiatives have been undertaken to
public resources. We also acknowledge the loyalty and
establish model branches in the Bank, and six
support of our individual and corporate depositors,
branches have already been declared as model whose confidence inspires our commitment to service
branches. As part of this initiative, training programs excellence. Special recognition is extended to the
focused on customer service have been arranged for non-governmental organizations (NGOs) that continue
executives, officers, and staff. Additionally, product to collaborate with the Bank to deliver microfinance
feature billboards are being displayed in visible areas solutions to underserved communities. These
of these branches by department to facilitate better partnerships not only promote financial inclusion but
customer understanding. To further enhance service also contribute meaningfully to national efforts in
quality, efforts are being made to ensure the poverty alleviation and grassroots development.
functionality of essential equipment, maintain a clean
and modern environment, provide separate toilets, and We commend the dedication, professionalism, and
establish waiting lounges for customers. perseverance demonstrated by the management team
and all employees of the Bank. In a year of significant
Efforts have also been intensified to reinforce internal transition and operational realignment, their collective
controls, improve asset quality, and contain credit risk, effort has been vital to upholding customer trust and
particularly in light of the sector-wide emphasis on institutional integrity. Their contributions are not only
non-performing loan (NPL) reduction. Process valued-they are essential to the Bank’s future
automation, workforce capacity-building, and strategic trajectory.
partnerships are being leveraged to improve service
delivery, reduce costs, and ensure regulatory The Board also acknowledges the strategic insight and
compliance. Furthermore, investment in sustainable governance oversight of its fellow Directors, whose
practices and financial inclusion has been recognized vigilance and commitment to accountability have
as essential in aligning with the national development ensured the continued strengthening of internal
agenda and international standards. controls, transparency, and ethical leadership across
all levels of the organization.
As the banking industry in Bangladesh continues to
evolve in response to global and local demands, As BASIC Bank moves forward with renewed focus
BASIC Bank is being positioned to remain agile and and determination, the Board extends its warmest
responsive. A strong foundation has been laid for wishes for continued success and prosperity to all
achieving a healthier capital adequacy position, an stakeholders, clients, and well-wishers, whose
improved return on equity, and a reduction in the NPL partnership remains our greatest strength and
ratio in the forthcoming year. With the right strategies in motivation.
place and an unwavering focus on long-term goals,
On behalf of the Board of Directors
BASIC Bank is expected to move forward with
confidence—ready to navigate uncertainties while
contributing meaningfully to the country’s financial and
economic progress.
Helal Ahmed Chowdhury
Acknowledgement Chairman
Board of Directors
The Board of Directors of BASIC Bank Limited BASIC Bank Limited
expresses its profound gratitude to Bangladesh Bank
and the Financial Institutions Division, Ministry of
Finance, for their invaluable guidance, regulatory
support, and enduring partnership. Their timely
interventions and policy direction have played a pivotal

48 | Annual Report 2024

Meeting of the Board of Directors of BASIC Bank Limited.

BASIC Bank Limited held the Managers' Conference—2025 on Sunday, February 02, 2025, at BIAM
Auditorium, Eskaton in the Capital. Mr. Helal Ahmed Chowdhury, Chairman of the Bank's Board of Directors,
inaugurated the conference as the Chief Guest. Mr. Md. Quamruzzaman Khan, Managing Director & CEO of
the Bank, presided over the conference.

| Annual Report 2024 49

 To make banking services more inclusive and user-friendly, BASIC Bank Limited organized a program
titled "Innovation Showcase and Award Giving Ceremony" on Monday, July 28, 2025. The program
was graced by Mr. Md. Ahsan Kabir, Additional Secretary of the Financial Institutions Division, as the Chief
Guest; Mrs. Farida Yasmin, Joint Secretary, as the Special Guest; and Mr. Helal Ahmed Chowdhury, Chairman
of BASIC Bank’s Board of Directors, as the Guest of Honour. Mr. Md. Quamruzzaman Khan, Managing
Director & CEO of the Bank presided over the ceremony.

In an effort to strengthen the recovery of non-performing loans (NPLs), BASIC Bank Limited organized a
seminar on "Non-Performing Loan (NPL) and Liability Management" on Monday, February 17, 2025. Mr. Helal
Ahmed Chowdhury, Chairman of the Bank’s Board of Directors, attended as the Chief Guest, while Managing
Director & CEO Mr. Md. Quamruzzaman Khan presided over the seminar.

50 | Annual Report 2024

BASIC Bank Limited participated in a two-day long and the 10th Annual Banking Conference
organized by the Bangladesh Institute of Bank Management (BIBM) on Wednesday, April 9, 2025, at
the BIBM in Mirpur, Dhaka. Dr. Ahsan H. Mansur, Governor of Bangladesh Bank inaugurated the
conference as the Chief Guest and Mr. Md. Akhtaruzzaman, Director General of BIBM Chaired the
program. Mr. Helal Ahmed Chowdhury, Chairman, Board of Directors, BASIC Bank, and Mr. Md.
Quamruzzaman Khan, Managing Director & CEO, visited the Bank’s stall.

BASIC Bank Limited signed a Memorandum of Understanding (MoU) with the National Pension Authority to
enhance and facilitate the activities of the Universal Pension Scheme on Monday, 14 July 2025, at the
conference room of Finance Division. Finance Secretary Dr. Md Khairuzzaman Mozumder graced the occasion
as the Chief Guest. The MoU was signed by Mr. Md. Mahiuddin Khan, Executive Chairman of the National
Pension Authority, and Mr. Md. Quamruzzaman Khan, Managing Director & CEO of BASIC Bank Limited.
Senior officials from both institutions were also present.

| Annual Report 2024 51

 Senior Management
Md. Hasan Imam
General Manager

Md. Ismail
General Manager

Md. Nashir Uddin

General Manager

Dulon Kanti Chakraborty

General Manager

Md. Momenul Hoque

General Manager
Abu Md. Mofazzal
Deputy Managing Director

52 | Annual Report 2024

 Senior Management
Sumit Ranjan Nath
General Manager

Saidur Rahman Sohel

General Manager

Nurur Rahman Chowdhury

General Manager (C.C)

Md. Ghulam Sayeed Khan

General Manager

Subhash Chandra Das

Deputy Managing Director
Md. Quamruzzaman Khan
Managing Director & CEO

| Annual Report 2024 53

 Report of The
Audit Committee
Constitution/Formation of the Audit Committee:

The Audit Committee, an important functional committee, was constituted by the Board in its 148th meeting held on April
05, 2003 in compliance with the guidelines of BRPD Circular No.12 dated December 23, 2002 of Bangladesh Bank to
provide an independent oversight of the financial reporting, non-financial corporate disclosures, internal control and
compliance to governing rules and laws. After issuance of BRPD Circular No.11 dated October 27, 2013 of Bangladesh
Bank which was later replaced by BRPD Circular No.02 dated February 11, 2024, reconstitution of the Committee is
being made in compliance of the stipulations enunciated in the said Circular(s).

Particulars of the Members of the Audit Committee as on 31.12.2024:

[Link]. Name Status with Status with the Educational Qualification

the Bank Committee
[Link] (Hons.), [Link]
1. Dr. Nahid Hossain Director Chairman (Finance & Banking), Master of
Economics (Japan), Doctor of
Engineering (Environment &
Life Engineering, Japan)

2. Dr. Md. Abdul Khaleque Khan, F.F. Director Member Member Ph.D; MSS
(Economics), Dhaka University.

MBA (Finance & MIS), University

3. Mr. Md. M. Latif Bhuiyan Director Member
of New Orleans, USA, [Link]
(Accounting), University of Dhaka.

Meetings held during 2024:

During the year 2024 the Audit Committee met 07 (Seven) times wherein efforts were made there to accomplish the
duties and responsibilities that would serve the purpose of constitution of the Committee. Details of the meetings held
in 2024 are as under:

Sl. No. Meeting No. Date

1. 115 03.01.2024
2. 116 20.03.2024
3. 117 30.04.2024
4. 118 31.07.2024
5. 119 03.09.2024
6. 120 09.10.2024
7. 121 05.12.2024

54 | Annual Report 2024

Activities of the Audit Committee during 2024:

The Committee while discharging its duties and responsibilities followed the guidelines enunciated in the BRPD Circular
No.02 dated February 11, 2024 of Bangladesh Bank, and emphasis was given on the following fundamentals:

• Internal Control
• Financial Reporting
• Internal Audit
• External Audit
• Compliance

Besides, the major areas reviewed/discussed/evaluated/recommended by the Audit Committee during the year 2024
are as under:

■ Statement of audited Accounts for the year ended December 31, 2023.

■ Appointment of external auditors of the bank for the year 2024 and fixing their remuneration.

■ Appointment of external auditors for auditing the applications in connection with export stimulus/export subsidy/
cash incentive of the bank for the year 2024-2025.

■ Review of Self-Assessment of Anti-Fraud Internal Control statement of the Bank for the periods July-December
2023 and January-June 2024.

■ Risk based grading of the Branches of the Bank for the year 2023.

■ Compliance status of major irregularities mentioned in the 25th Comprehensive Inspection Report based on
31.12.2022 conducted on BASIC Bank Limited, Head Office by Bangladesh Bank.

■ Compliance status of major irregularities mentioned in the 26th Comprehensive Inspection Report based on
31.12.2023 conducted on BASIC Bank Limited, Head Office by Bangladesh Bank.

■ Compliance status on irregularities mentioned in the Special Inspection (Surprise) Reports based on 27.10.2022
conducted on BASIC Bank Limited, Main Branch, Dhaka by the Department of Currency Management,
Bangladesh Bank, Head Office, Dhaka.

■ Compliance status on irregularities mentioned in the Special Inspection (Surprise) Reports based on 19.09.2024
conducted on BASIC Bank Limited, Mirpur Branch, Dhaka by the Department of Currency Management,
Bangladesh Bank, Head Office, Dhaka.

■ Statement of unaudited Accounts for the half-year ended on 30.06.2024.

■ Review of up-to-date information regarding default borrowers of different branches of the Bank.

■ Review of the plan for conducting internal audit and inspection program of the Bank for the year 2024.

Dr. Nahid Hossain

Chairman
Audit Committee

| Annual Report 2024 55

Report of The
Risk Management Committee
The Risk Management Committee of the Board of Directors was formed in line with the Bangladesh Bank’s BRPD
Circular No.11 dated October 27, 2013 which was lastly reconstituted at 619th Board meeting held 17.05.2023 with the
following members:

[Link]. Name Status with Status with the Educational Qualification

the Bank Committee
Member Ph.D; MSS
1. Dr. Md. Abdul Khaleque Khan, F.F. Director Chairman
(Economics), Dhaka University.

2. Dr. Nahid Hossain Director Member [Link] (Hons.), [Link]

(Finance & Banking), Master of
Economics (Japan), Doctor of
Engineering (Environment &
Life Engineering, Japan)
Master of Business
3. Mr. Shamim Ahammed Director Member Administration, University of
West London, UK; Bachelor of
Urban and Rural Planning,
Khulna University, Bangladesh.
MBA (Finance & MIS),
4. Mr. Md. M. Latif Bhuiyan Director Member University of New Orleans,
USA, [Link] (Accounting),
University of Dhaka.

M. Com (Management),
5. Mr. Md. Rafiqul Islam Director Member
University of Chittagong

The Committee discharged its duties and responsibilities enunciated in the Bangladesh Bank’s BRPD Circular No.02
dated February 11, 2024 replacing the BRPD Circular No.11 dated October 27, 2013.

During the year 2024 the Risk Management Committee met 11 (eleven) times wherein efforts were there to accomplish
the duties and responsibilities that would serve the purpose of constitution of the Committee. Details of the meetings
held in 2024 are as under:

Sl. No. Meeting No. Date

1. 87 03.01.2024
2. 88 08.02.2024
3. 89 06.03.2024
4. 90 03.04.2024
5. 91 08.05.2024
6. 92 06.06.2024

56 | Annual Report 2024

 Sl. No. Meeting No. Date
7. 93 16.07.2024
8. 94 20.08.2024
9. 95 18.09.2024
10. 96 28.11.2024
11. 97 22.12.2024

The role and responsibilities of the Committee include, among others:

i. To formulate a policy for overall risk management.

ii. To review risk management policy and guidelines.
iii. To submit observations and recommendations to the Board.
iv. To set appropriate organizational structure for controlling risks.
v. To advise on the development and maintenance of a supportive culture, in relation to the management of risk.

The major areas discussed/evaluated/reviewed and recommended by the Risk Management Committee in
those analyses are as under:
■ Comprehensive Risk Management report as on 31.12.2023.

■ Comprehensive Risk Management Rating of the Bank based on June 30, 2023 and December 31, 2023.
■ Risk Appetite Statement of the Bank for the year 2024.

■ Surveillance Credit Rating Report of 2023.

■ Statement on Internal Capital Adequacy Assessment Process (ICAAP) under Supervisory Review Process of
BASEL-III for the year 2023.

■ Half Yearly Report (01.07.2023 to 31.12.2023) & (01.01.2024 to 30.06.2024) regarding the steps taken by the
Bank in terms of Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT).

■ Supervision of Suit filed by the Bank and against the Bank.

■ Plan for Recovery from Potential Stress Events.

■ Risk Management Guidelines-2024

■ Present status including the recovery progress of the loans & advances of the default borrowers of the Bank.

Dr. Md. Abdul Khaleque Khan, F.F.

Chairman
Risk Management Committee

| Annual Report 2024 57

Disclosures on
Risk Based Capital Requirement under Basel-III
For the year ended 31 December 2024

Disclosure Overview
The following detailed qualitative and quantitative disclosures are provided in accordance with the Guidelines on Risk
Based Capital Adequacy (Revised Regulatory Capital Framework for Banks in Line with Basel-III) issued by
Bangladesh Bank through BRPD Circular No. 18 dated December 21, 2014. This is intended to provide the users an
insight about various risk exposures, to which the Bank is exposed and maintained adequate capital against them. The
users will also be able to compare the Bank’s performance within the banking industry.

Scope and Purpose

The purpose of Market Discipline in the Revised Regulatory Capital Framework is to complement the Minimum Capital
Requirements (MCR) and the Supervisory Review Process (SRP). The aim of introducing Market Discipline in the
revised Framework is to establish more transparent and more disciplined financial market so that stakeholders can
assess the position of a bank regarding holding of assets and to identify the risks relating to the assets and capital
adequacy to meet probable loss of assets.

All the quantitative disclosures furnished here are on Solo Basis and on the basis of Audited Financial Statements of
BASIC Bank Limited for the year ended 31 December 2024 prepared under relevant International Accounting and
Financial Reporting Standards (IFRSs) as adopted by the Institute of Chartered Accountants of Bangladesh (ICAB) and
related circulars/instructions issued by Bangladesh Bank from time to time.

A) Scope of Application

Qualitative Disclosures

a. The name of the top corporate entity in the group to which

this guidelines applies. BASIC Bank Limited

b. An outline of differences in the basis of consolidation for The Risk Based Capital Adequacy Guideline
accounting and regulatory purposes, with a brief applies to BASIC Bank Limited on “Solo
description of the entities within the group: Basis” as there are no subsidiaries of the
(a) that are fully consolidated; Bank on reporting date.
(b) that are given a deduction treatment; and
(c) that are neither consolidated nor deducted.

c. Any restrictions, or other major impediments, on transfer of

funds or regulatory capital within the group. Not Applicable

Quantitative Disclosures

d. The aggregate amount of surplus capital of insurance

subsidiaries (whether deducted or subjected to an
alternative method) included in the capital of the
consolidated group. Not Applicable

58 | Annual Report 2024

B) Capital Structure

Qualitative Disclosures For the purpose of calculating capital under Capital Adequacy
Framework, the capital of banks shall be classified into two tiers:
a. Summary information on the • Tier-1 Capital (Going-Concern Capital)
terms and conditions of the • Tier-2 Capital (Gone-Concern Capital)
main features of all capital
instruments, especially in the Tier-1 Capital is further classified into two categories:
case of capital instruments - Common Equity Tier-1 (CET-1)
eligible for inclusion in CET-1, - Additional Tier-1
Additional Tier-1 or Tier-2.
CET-1 capital, which is the sum of core capitals like Paid-up Capital,
Retained Earnings, Statutory Reserve, General Reserve etc. after netting
regulatory adjustments like Shortfall in specific loan loss provision
maintained, Goodwill, Deferred Tax Assets etc., of BASIC Bank as on 31
December 2024 was Tk. (1,668.82) crore. This had been calculated
considering Regulatory Forbearance allowed by Bangladesh Bank for
total provision shortfall of Tk. 5,316.81 crore against loans and advances
of the Bank vide its letter no# DOS(CAMS)1157/41(Dividend)/2025-3095
dated 21 May 2025. As per the Forbearance, Regulatory Capital was
calculated without adjusting shortfall in provision against NPL which was
Tk. 5,257.70 crore.

Additional Tier-1 (AT-1) Capital shall consist of Non-cumulative

Irredeemable Preference Shares account, Instruments issued by the
banks that meet the qualifying criteria for the same, Minority Interest etc.
after netting regulatory adjustments. On 31 December 2024, the Bank
only had a Non-cumulative Irredeemable Preference Shares account for
Tk. 120.50 crore in AT-1 Capital.

On the other hand, Tier-2 Capital represents other elements which fall
short of some of the characteristics of the core capital but contribute to
the overall strength of a bank. Tier-2 Capital shall consist of General
Provisions, Subordinated Debt/Instruments issued by the bank etc. after
netting regulatory adjustments. The Bank had a total of Tk. 43.09 crore
eligible for Tier-2 Capital on 31 December 2024.

All banks will be required to maintain the capital adequacy ratios as per
following table:

Particulars 2024
Minimum CET-1 Capital Ratio 4.50%
Capital Conservation Buffer (CCB) 2.50%
Minimum CET-1 plus CCB 7.00%
Minimum T-1 Capital Ratio 6.00%
Minimum T-1 Capital Ratio plus CCB 8.50%
Minimum Total Capital Ratio 10.00%
Minimum Total Capital plus CCB 12.50%
Leverage Ratio 3.50%

| Annual Report 2024 59

 (Amount in crore TK.)
Quantitative Disclosures Tier- 1 Capital (Going Concern Capital)
Common Equity Tier-1
b. The amount of Regulatory
Fully Paid-up Capital 1,084.70
Capital, with separate Statutory Reserve 222.47
disclosure of: General Reserve 4.00
Retained Earnings (5,485.84)
• CET-1 Capital
Others (fresh fund provided by Govt. in the 2,600.00
• Additional Tier-1 Capital
process of converting to capital)
• Total Tier-1 Capital (1,574.67)
• Tier-2 Capital Regulatory Adjustments (from CET-1):
Shortfall in provisions against NPL -
Deferred Tax Assets (DTA) 94.15
(94.15)
• Total Common Equity Tier-1 Capital [A] (1668.82)
Additional Tier-1 Capital
Non-cumulative irredeemable pref. shares 120.50
• Total Additional Tier-1 Capital [B] 120.50
• Total Tier-1 Capital [A+B] (1548.32)
Tier- 2 Capital (Gone Concern Capital)
General Provision 43.09

43.09
Regulatory Adjustments (from Tier-2):
Total Deductions from Tier-2 (0.00)
• Total Tier- 2 Capital [C] 43.09

Total Regulatory Capital [A+B+C] * (1,505.23)

* Regulatory Forbearance was allowed by Bangladesh Bank for total provision shortfall of Tk. 5,316.81 crore against
loans and advances of the Bank vide its letter no# DOS(CAMS)1157/41(Dividend)/2025-3095 dated 21 May 2025.
As per the Forbearance, Regulatory Capital was calculated without adjusting Tk. 5,257.70 crore as shortfall in
provision against NPL.
C) Capital Adequacy

Qualitative Disclosures
a) A summary discussion of the Capital Adequacy is the cushion required to be maintained for covering the
bank’s approach to assessing Credit Risk, Market Risk and Operational Risk so as protecting the
the adequacy of its capital to depositors and general creditors’ interest against such losses. In line with
support current and future latest Guidelines on Risk Based Capital Adequacy that has been issued
activities. through BRPD Circular No. 18 dated 21 December 2014, the Bank has
adopted Standardized Approach (SA) for computing capital requirement
for Credit Risk and Market Risk and Basic Indicator Approach (BIA) for
computing capital requirement for Operational Risk.

Quantitative Disclosures
(Amount in crore TK.)
b) Capital requirement for Credit Risk 1,642.68
c) Capital requirement for Market Risk 35.12
d) Capital requirement for Operational Risk 180.67
e) Capital to Risk Weighted Assets Ratio: Total CET-1 Tier-1 Tier-2
• For the consolidated group N/A N/A N/A N/A
• For stand alone -8.10% -8.98% -8.33% 0.23%
f) Capital Conservation Buffer Maintained 0.00
g) Available Capital under Pillar-2 req. 0.00

60 | Annual Report 2024

D) Credit Risk
Qualitative Disclosures

a. The general qualitative disclosures requirement with respect to credit risk, including:

• Definitions of past due and To define past due and impairment through classification and
impaired (for accounting provisioning, BASIC Bank Limited follows Bangladesh Bank circulars and
purposes); guidelines.
All loans and advances are categorized into 04 (four) types for the
purpose of classification, namely-(a) Continuous Loan, (b) Demand
Loan, (c) Fixed Term Loan, and (d) Short-term Agricultural & Micro
Credit.

The basis for determination of Past Due/Overdue period is as under:

Types of Facility Past Due/Overdue Period

Continuous Loan If not repaid/renewed within the fixed expiry
date for repayment or after the demand by the
Bank is treated as past due/overdue from the
following day of the expiry date.
Demand Loan If not repaid within the fixed expiry date for
repayment or after the demand by the Bank is
treated as past due/overdue from the following
day of the expiry date.
Fixed Term Loan In case of any installment(s) or part of
installment(s) is not repaid within the fixed
expiry date, the amount of unpaid installment(s)
is treated as past due/overdue after 6 months of
the expiry date.
Short-term If not repaid within the fixed expiry date for
Agricultural & repayment is treated as past due/overdue after
Micro Credit 6 months of the expiry date.

The summary of objective criteria for loan classification is as below:

Past Due/Overdue Period for Loan Classification
Types of Facility
Sub-standard (SS) Doubtful (DF) Bad Loss (B/L)
Continuous Loan &
3 months or 9 months or 12 months or
Demand Loan (except more but less more but less more
CMS*) than 9 months than 12 months
3 months or 9 months or
Fixed Term Loan more but less 12 months or
more but less more
(except CMS) than 9 months than 12 months

Continuous & Demand 6 months or 18 months or 30 months or

more but less more but less more
Loan (For CMS)
than 18 months than 30 months

Fixed Term Loan 6 months or 18 months or 30 months or

(For CMS)
more but less more but less more
than 18 months than 30 months

Short- term Agricultural

12 months or 36 months or 60 months or
more but less more but less
& Micro Credit more
than 36 months than 60 months
* CMS means Cottage, Micro and Small credits defined in SMESPD Circular-02, 05 September 2019.

| Annual Report 2024 61

 Required Provision (% of Base for Provision)
• Description of approaches Type of Loans & Advances
Standard SMA SS DF BL
followed for specific and
general allowances and Housing Finance (HF) 1% 1% 20% 50% 100%
Consumer Loans to Professionals (LP) 2% 2% 20% 50% 100%
statistical methods
Finance Credit Cards & Other than 2% 2% 20% 50% 100%
HF & LP
Loans to BHs/MBs/ SDs against shares, etc. 1% 1% 20% 50% 100%
CMS under CMSME Financing 0.25% 0.25% 5% 20% 100%
Medium Enterprise under CMSME Financing 0.25% 0.25% 20% 50% 100%
All Others 1% 1% 20% 50% 100%
Short term Agri. Credit & Micro Credit 1% - 5% 5% 100%
Off-Balance Sheet Exposures 1% - - - -

• Discussion of the bank’s Credit risk is defined as the possibility of failure of the Bank’s borrower(s) to
credit risk management policy meet the financial obligation in accordance with agreed terms. The main
objective of credit risk management is to minimize the negative impact
through adopting proper measures and also limiting credit risk exposures
within acceptable limit.

BASIC Bank Limited has a Credit Risk Management Division (CRMD) as well
as a Credit Risk Management Committee (CRMC) for prudent management
of credit risk. Final authority and responsibility for all activities that expose the
Bank to credit risk belong to the Board of Directors. The Board, however,
delegated specific authority to the Managing Director and other Executives of
the Bank through a well structured delegation of power. Besides, the Board
determines Risk Appetite for credit risk of the Bank desiring optimum
business mix, risk preference etc. The Bank strictly adheres to the regulatory
policies; rules etc. as regard to credit management and are in compliance
with regulatory requirements as stipulated by Bangladesh Bank from time to
time. The credit assessment process of the Bank is initiated at Branch as well
as Circle Offices which include all plausible aspects including eligibility of the
borrower, requirement of information and/or documents etc. While assessing
the overall rating of borrowers, the Bank follows Bangladesh Bank’s
prescribed Internal Credit Risk Rating (ICRR) system which captures
quantitative and qualitative issues related to financial risk, performance
behavior, business and industry risk, management risk, security risk,
relationship risk and compliance risk. Collateral values are also accurately
identified by using standard evaluation methodologies. Bank procedures
require verification including certification by Bank officials during initial,
annual and periodic reviews including genuineness checking of collaterals.
All these procedures are also ensured before sanction of the loan through
Credit Pre-Audit Cell of Audit & Inspection Division under Internal Control &
Compliance of the Bank. Respective branch, Circles, as well as Internal
Control & Compliance (ICC) of the Bank are simultaneously engaged in
effective credit monitoring of the Bank. Besides, Risk Management Division
of the Bank reviews various parameters of credit risk, e.g. concentration,
quality of assets etc. on time to time and places the observations to Executive
Risk Management Committee of the Bank.

BASIC Bank Limited is very much concerned with managing non-performing

loan (NPL) which is being conducted by Recovery Division of the Bank. The
Bank follows Bangladesh Bank’s BRPD Circular for classification of loans &
advances & provisioning. Recovery positions of the Bank are regularly
reviewed and potential alternative actions are relentlessly asserted. Targets
for the branches are determined to recover classified and write-off loans and
advances. Head Office Executives and Officials have also been assigned
with the responsibility of recovery of classified and write-off loans of branches
of the Bank. Circle Offices are also designated with the responsibility of
monitoring recovery of branches of the Bank. Moreover, Write-off Loan
Recovery Unit, Intelligence Unit, Special Asset Management Unit (SAM) and
Mamla Porjobekkhon Unit are also working in this regard.

62 | Annual Report 2024

Quantitative Disclosures
Type Amount (in crore Tk.) Percentage

b. Total gross credit risk Term Loan 6,870.43 53.30%

exposures broken down by Cash Credit 1,938.28 15.04%
major types of credit exposure. Overdraft 1,060.60 8.23%
Export/Packing Credit 36.68 0.28%
Loan Against Trust Receipt 240.69 1.87%
Real Estate Loan 724.27 5.62%
Transport Loan 448.54 3.48%
Micro Credit Financing 31.73 0.25%
Staff Loan 344.09 2.67%
Bill Purchased & Discounted 99.87 0.77%
Others 1,093.73 8.49%
Total 12,888.91 100.00%

Division Amount (in crore Tk.) Percentage

c. Geographical distribution of Dhaka 7,622.49 59.14%

exposures, broken down in Chattogram 2,189.96 16.99%
significant areas by major types Rajshahi 602.64 4.68%
of credit exposure. Khulna 614.98 4.77%
Barishal 69.13 0.54%
Sylhet 120.36 0.93%
Rangpur 828.46 6.43%
Mymensingh 840.89 6.52%
Total 12,888.91 100.00%

Sector Amount
Percentage
(only industrial loan) (in crore Tk.)

d. Industry or counterparty type Food & Allied 1,558.29 17.24%

distribution of exposures, Textile 506.36 5.60%
broken down by major types of ERMG 931.21 10.30%
credit exposure. Accessories 219.76 2.43%
Jute Product & Allied 483.04 5.35%
Forest Product & Allied 10.25 0.11%
Paper, Board, Printing & Packaging 464.25 5.14%
Tannery, Leather and Rubber 458.42 5.07%
Chem. Pharm. and Allied 205.56 2.27%
Glass, Plastic, Ceramic & other non-metal 216.13 2.39%
Engineering 636.57 7.04%
Electrical & Electronics 47.34 0.52%
Service Industry 640.95 7.09%
Misc. Industry 2,393.31 26.48%
Industry not elsewhere classified 265.37 2.94%
Total 9,036.81 100.00%

| Annual Report 2024 63

 Amount
Type of credit exposure (in crore Tk.) Percentage

e. Residual contractual maturity Up to 01 Month 26.07 0.20%

breakdown of the whole Above 1 month but not more than 3 month 799.90 6.21%
portfolio, broken down by major Above 3 month but not more than 1 year 2,321.95 18.02%
types of credit exposure.
Above 1 year but not more than 5 years 8,567.96 66.48%
Above 5 years 1,173.03 9.10%
Total 12,888.91 100.00%

f. By major industry or counterparty type: (Amount in crore Tk.)

• Amount of impaired loans and if available, past due loans,

provided separately;
Unclassified loans (STD + SMA) 4,053.34
Classified loans (SS + DF + BL) 8,835.57

• Specific and general provisions;

General provision for loans 25.80
Specific provision for loans 511.58

• Charges for specific allowances and charge-offs during the

period. 0.00

g. Movement of NPLs & Provisions: (Amount in crore Tk.)

Gross Non Performing Loans (NPLs) 8,835.57

Non Performing Loans (NPLs) to Outstanding Loans & Advances 68.55%

Movement of Non Performing Assets (NPAs)

Opening balance 8,332.75
Additions 502.82
Reductions (0.00)
Closing balance 8,835.57

Movement of specific provisions for NPAs

Opening balance 501.12
Provisions made during the period 1.18
Provision provided for Write-off/Interest Waived (0.00)
Transferred to Provision for Non-Banking Assets (0.00)
Transferred from Provision for Un-classified Loans 9.28
Closing balance 511.58

64 | Annual Report 2024

E) Equities: Disclosures for Banking Book Positions
Qualitative Disclosures
a. The general qualitative disclosure requirement with
respect to Equity Risk, including:
Equity investments of the Bank are mainly for
• Differentiation between holdings on which capital gains capital gain purpose and dividend earnings from
are expected and those taken under other objectives invested securities of various companies. Bank also
including for relationship and strategic reasons; and has some equity investment for strategic purpose.

• Discussion of important policies covering the valuation The holding of Bank’s quoted and unquoted shares
and accounting of equity holdings in the banking book. are valued at cost price. Provisions are made at the
This includes the accounting techniques and valuation end of the year if total market value of the quoted
methodologies used, including key assumptions and and un-quoted shares is lower than the cost value of
practices affecting valuation as well as significant those shares.
changes in these practices

Quantitative Disclosures

b. Value disclosed in the balance sheet of investments, as Value disclosed (cost value of Quoted & Un-quoted
well as the fair value of those investments; for quoted securities) in the balance sheet of investments was
securities, a comparison to publicly quoted share values Tk. 133.74 crore and market value of which was Tk.
where the share price is materially different from fair 102.71 crore.
value.
Cost value of investment in Quoted Securities was
Tk. 127.40 crore and market value thereof was
Tk. 96.20 crore.

c. The cumulative realized gains (losses) arising from sales

and liquidations in the reporting period. Nil

d.
• Total unrealized gains/ (losses) Total unrealized losses were Tk. 31.03 crore.
• Total latent revaluation gains /(losses) Nil
• Any amounts of the above included in Tier-2 capital Nil

e. e. Capital requirements broken down by appropriate Specific Market Risk: Tk. 13.37 crore
equity groupings, consistent with the bank’s General Market Risk: Tk. 13.37 crore
methodology, as well as the aggregate amounts and the Total capital charge on equities: Tk. 26.74 crore
type of equity investments subject to any supervisory
provisions regarding regulatory capital requirements.

F) Interest Rate Risk in the Banking Book (IRRBB)

Qualitative Disclosures

a. The general qualitative disclosure requirement including Interest Rate Risk in the Banking Book is the risk of
the nature of IRRBB and key assumptions, including changes in market interest rate. Any positive or
assumptions regarding loan prepayments and behavior negative movement in the market interest rate
of non maturity deposits, and frequency of IRRBB affects the value of the banking book. It affects the
measurement. current earning as well as the net worth of the Bank.

| Annual Report 2024 65

 Quantitative Disclosures

b. The increase (decline) in earnings or economic value (or Market Value of Assets: Tk. 14,948.36 crore
relevant measure used by management) for upward and Market Value of Liabilities: Tk. 16,350.97 crore
downward rate shocks according to management’s Weighted average of Duration Gap: 0.48 years
method for measuring IRRBB, broken down by currency CRAR after different level of shocks:
(as relevant). • Minor Level : -8.47%
• Moderate Level : -8.82%
• Major Level : -9.17%

G) Market Risk

Qualitative Disclosures

a. Views of BOD on trading/investment activities As the Market Risk is the probability of losing assets in
Balance Sheet and Off-Balance Sheet position arising
out of the volatility in market variables i.e., interest rate,
exchange rate and price; the Board of Directors
approves all necessary policies related to Market Risk
and review them on regular basis.

Methods used to measure Market Risk Standardized Approach has been used to measure the
Market Risk.
Market Risk Management system Treasury & Capital Market Services Division, Mid Office
Division & Back Office Division of the Bank have been
functioning to manage market risk covering liquidity,
interest rate and foreign exchange risks with oversight
by Asset-Liability Management Committee (ALCO)
comprising Senior Executives and is chaired by the
Managing Director of the Bank.
Risk Management Division also reviews the market risk
parameters time to time and places the observations to
Executive Risk Management Committee of the Bank.

Policies and processes for mitigating Market Risk There are approved limits for advance deposit ratio,
liquid assets to total deposit ratio, liquid assets to short
term liabilities, net open position, LCR, NSFR, WBG,
structural liquidity profile, maturity mismatch,
commitments for both on-balance sheet and
off-balance sheet items etc. The limits are monitored
and enforced regularly to protect the Bank against
market risks. These limits are reviewed based on
prevailing market and economic conditions to minimize
Quantitative Disclosures risk due to market fluctuation.

b. The capital requirements for: (Amount in crore Tk.)

Interest Rate Risk 2.86
Equity Position Risk 26.75
Foreign Exchange Risk 5.51
Commodity Risk 0.00

66 | Annual Report 2024

H) Operational Risk

Qualitative Disclosures

a. Views of BOD on system to reduce Operational Risk As the Operational Risk is defined as the risk of loss
resulting from inadequate or failed internal processes,
people and system or from external events, the Board of
Directors approves all necessary policies related to
operational risk and reviews them on regular basis.

Bank has internal manuals on Internal Control &

Compliance and on Human Resources where details of
operational policies, procedures and HR related
activities have been stated, which is approved by the
Board of Directors.
Performance gap of executives and staffs
Bank regularly monitors and reviews the performance of
Executives both quantitatively and qualitatively through
analysis of achievement of business target in various
parameters and behavioral, tactical and leadership
aspects through confidential evaluation process.

No potential external events are expected to expose the

Potential external events Bank to significant Operational Risk.

The internal control and compliance policy is approved

Policies and processes for mitigating Operational by the Board taking into account relevant guidelines of
Risk Bangladesh Bank for mitigating operational risks. The
Bank has three Divisions under Internal Control and
Compliance, namely Audit & Inspection Division,
Monitoring Division and Compliance Division.

Audit and Inspection team regularly works to detect and

remove procedural flaws, errors and frauds. Monitoring
Division ensures proper implementation of control tools
to strengthen internal check and internal control system
of the Bank. Compliance Division works to ensure all
sorts of regulatory and policy compliance to help smooth
operation and maintain consistency and thus reduce
risk. The Bank is using some tools for mitigating
operational risk such as Self Assessment of Anti-fraud
Internal Control; Quarterly Operational Report (QOR)
and Departmental Control Function Check List (DCFCL)
in line with the Bangladesh Bank’s relevant Instructions
and recommendations. It is required to submit the
statement on Self Assessment of Anti-fraud Internal
Control to Bangladesh Bank on quarterly rest.

Bank’s Anti-Money Laundering Division is devoted to

thwart all money laundering and terrorist finance related
activities. The Central Customer Service & Complaints
Management Unit is also engaged in mitigating the
operation risks of the Bank.

Bank is running through centralized real time online

system. External events like natural disasters and
unauthorized access to Bank’s centralized computer
system can affect the Bank significantly. Bank has
alternative arrangement for disaster recovery and a
highly qualified team of IT experts who are working
to prevent any type of unauthorized access.

| Annual Report 2024 67

 Approach for calculating capital charge for Bank uses Basic Indicator Approach for calculating
operational risk capital charge for Operational Risk as per instruction of
Bangladesh Bank.

Quantitative Disclosures

b. The capital requirements for Operational Risk: Tk. 180.67 crore

I ) Liquidity Ratio

Qualitative Disclosures

a. Views of BOD on system to reduce liquidity Risk Board of Directors (BOD) has instructed to follow all the
guidelines and instructions related to liquidity risk
management with utmost importance. Moreover, the
BOD has also instructed to maintain liquidity at an
optimum level so that no liquidity ratio can violate
regulatory range.

Methods used to measure Liquidity Risk The Bank uses ‘Cash-Flow Approach’ and ‘Stock
Approach’ for measuring Liquidity Risk. Under
‘Cash-Flow Approach’ Liquidity Risk is tracked through
maturity or cash flow mismatches. Calculation of gaps
at various ‘time-buckets’, is adopted as standard tool
for measuring Liquidity Risk. While, Liquidity Risk under
‘Stock Approach’ is measured liquidity position of
various Balance-Sheet items.

Liquidity Risk management system Liquidity Risk is the potential inability to meet the
liabilities as they become due. ‘Cash-Flow Approach’
and ‘Stock Approach’ are used for managing,
monitoring and measuring Liquidity Risk. The
Liquidity/Funds requirements under stress situations,
sources of raising the funds and its possible impact on
profit and loss are also worked out at quarterly interval.

Policies and processes for mitigating Liquidity Risk Various regulatory ratios/limits like ADR, CRR, SLR,
LCR, and NFSR, etc. are in place to apply the stock
approach to monitor and to control Liquidity Risk and
various liquidity related ratios are reported to
Bangladesh Bank on weekly, monthly and quarterly
basis.
Quantitative Disclosures

b. Liquidity Coverage Ratio (LCR) 90.01%

Net Stable Funding Ratio (NSFR) 134.52%
Stock of High quality liquid assets Tk. 1,181.21 crore
Total net cash outflows over the next 30 calendar days Tk. 1,312.25 crore
Available amount of stable funding Tk. 14,206.85 crore
Required amount of stable funding Tk. 10,561.34 crore

68 | Annual Report 2024

J) Leverage Ratio

Qualitative Disclosures

a. Views of BOD on system to reduce excessive The Board of Directors has instructed the management
leverage to follow all guidelines and instructions that are given by
regulators in order to reduce excessive leverage in the
Bank.

Policies and processes for managing excessive on The Leverage Ratio is calibrated to act as a credible
and off-balance sheet leverage supplementary measure to the risk based capital
requirements. The Leverage Ratio is intended to
constrain the build-up of leverage in the Bank and to
reinforce the risk based requirements with an easy to
understand and a non-risk based measure.

The Bank has been aware of its leverage and has been
trying to increase its core capital as well has controlling
the growth of on and off-balance sheet exposure.

Approach for calculating exposure The accounting measure of exposure is generally

followed to calculate total exposure for leverage ratio.
The Bank includes both on and off-balance sheet items
for measuring total exposure as instructed by the
Guidelines on Risk Based Capital Adequacy of
Bangladesh Bank.

Quantitative Disclosures

b. Leverage Ratio -10.37%

On-Balance Sheet Exposure Tk. 14,323.55 crore
Off-Balance Sheet Exposure Tk. 705.17 crore
Total Exposure (after related deductions) Tk. 14,934.57 crore

K) Remuneration Policy

Qualitative Disclosures

a. Information relating to the bodies that oversee

remuneration.
Name, composition and mandate of the main body The Board of Directors of the Bank oversees the
overseeing remuneration. remuneration policy. At the beginning, the Board forms
‘Pay Scale Committee’. The committee examines the
proposed pay scales, fringe benefits and allowances
thoroughly and submits their recommendations after
suitable adjustment, amendment or modification where
applicable. Eventually, the Board approves the policy.
The Human Resources Division executes the approved
remuneration structure. Finance and Accounts Division
disburses the remuneration to respective employees on
monthly basis.

However, from 22/12/2019 Bank has adopted

remuneration policy following National Pay Scale-2015
applicable for public bodies.

| Annual Report 2024 69

 External consultants whose advice has been Not Applicable.
sought, the body by which they were
commissioned and in what areas of the
remuneration process.

A description of the scope of the bank’s At present the Bank is following “Government Pay Scale
remuneration policy (e.g., by regions, business এস.আর.ও নং-৩৭০-আইন ২০১৫ এর মাধ�েম �ণীত চাকির
lines), including the extent to which it is applicable �শািসত (Public Bodies) এবং রা�ায়� �িত�ানসমূহ
to foreign subsidiaries and branches. (েবতন ও ভাতািদ) আেদশ ২০১৫” as remuneration policy
for the employees based on their designation. There
are different provisions for those who fall under
disciplinary proceedings. The Bank has no foreign
subsidiaries and branches.

A description of the types of employees considered Senior Management, Branch Managers and Divisional
as material risk takers and as senior managers, Heads may be considered as Material Risk Takers of
including the number of employees in each group. the Bank. ‘Senior Manager’ refers to Senior
Management in the rank of Deputy General Manager to
Managing Director & CEO. Presently, the composition
of Senior Management comprises as DGM: 48, GM: 08,
DMD: 01 & MD: 01.

b. Information relating to the design and structure

of remuneration processes.
An overview of the key features and objectives of Only cash and cash equivalent remuneration is being
remuneration policy. permitted whereas there are no equity or equity linked
payments.
The objectives of the remuneration policy incorporates:
• to attract and retain skilled and
motivated employees; and
• to provide incentivize executive to lead
employees to achieve goals.

Whether the remuneration committee reviewed the Remuneration policy is being reviewed upon changes
firm’s remuneration policy during the past year and made by Govt. as the Bank is following National Pay
if so, an overview of any changes that was made. Scale-2015 approved by the Board of Directors vide its
meeting no-487 held on 21/12/2019 effective from
22/12/2019.

A discussion of how the bank ensures that risk and The policy aims to ensure that quality human resources
compliance employees are remunerated are being employed, retained and compensated in
independently of the businesses they oversee. accordance with their responsibilities and expertise.
There is no scope of independent remuneration
provision at the current pay scale of the Bank for the
risk and compliance employees.

c. Description of the ways in which current and

future risks are taken into account in the
remuneration processes.
An overview of the key risks that the bank takes The level and composition of the remuneration deems
into account when implementing remuneration to be appropriate and fair in the context of the interests
measures. of the Bank. The Bank aims to maintain a strong risk
framework and continuous assessment of the risks in
order to protect its resources.

70 | Annual Report 2024

 An overview of the nature and type of the key In this context, Bank employs an array of measures
measures used to take account of these risks; based on the nature and types of business
including risks difficult to measure (values need lines/segments. The most effective tools and indicators
not be disclosed). used for measuring such risks include asset quality
ratio (NPL ratio), Net Interest Margin (NIM) ratio,
provision coverage ratio, credit-deposit ratio,
cost-income ratio as well as some non-financial
indicators such as compliance status as per regulatory
norms etc.

A discussion of the ways in which these measures The key measures of the remuneration policy
affect remuneration. commensurate with the process of setting targets,
Annual Performance Appraisals (APA) and the long
term plans of the Bank. At the end of each financial
year, the actual performance of the Bank is being
assessed with target set at the beginning of the year.
Bank evaluates each employee’s performance on
annual basis based on some pre-determined financial
and non-financial indicators. However, there are
significant implications of the above measures on the
remuneration policy of the Bank.
A discussion of how the nature and type of these In the previous year, the Bank did not experience any
measures has changed over the past year and changes of these measures affecting remuneration.
reasons for the change, as well as the impact of
changes on remuneration.

d. Description of the ways in which the bank

seeks to link performance during a
performance measurement period with levels
of remuneration.
An overview of main performance metrics for bank, The main performance metrics is the outcome of a
top-level business lines and individuals. comprehensive review of some performance indicators
such as Profitability, Capital to Risk-weighted Assets
Ratio (CRAR), Liquidity Ratios, Return on Assets
(ROA), Cost to Income Ratio, Net Interest Margin
(NIM), Non-Performing Loans (NPL) to Total Loans,
Loan Growth and Deposit Growth etc.

A discussion of how amounts of individual Though fixed remuneration pool is defined over the
remuneration are linked to bank-wide and years, variable remuneration package (incentives
individual performance. bonus) does not arise unless a predetermined level of
profit is achieved despite personal achievements of
employees.

A discussion of the measures the bank will in A set remuneration process is in practice. Weak
general implement to adjust remuneration in the performance metrics/scorecards hardly affect the
event that performance metrics are weak. remuneration practice.

e. Description of the ways in which the bank

seeks to adjust remuneration to take account
of longer-term performance.
A discussion of the bank’s policy on deferral and The Bank does not offer any deferred variable
vesting of variable remuneration and, if the fraction remuneration.
of variable remuneration that is deferred differs
across employees or groups of employees, a
description of the factors that determine the
fraction and their relative importance.

| Annual Report 2024 71

 A discussion of the bank’s policy and criteria for Not Applicable
adjusting deferred remuneration before vesting
and (if permitted by national law) after vesting
through claw back arrangements.

f. Description of the different forms of variable

remuneration that the bank utilizes and the
rationale for using these different forms.
An overview of the forms of variable remuneration Only cash based remuneration exists.
offered (i.e., cash, shares and share-linked
instruments and other forms)

A discussion of the use of the different forms of Not Applicable.

variable remuneration and, if the mix of different
forms of variable remuneration differs across
employees or groups of employees), a description
the factors that determine the mix and their relative
importance.

Quantitative Disclosures

g. Number of meetings held by the main body Nil

overseeing remuneration during the financial year
and remuneration paid to its member.

h.

• Number of employees having received a Nil

variable remuneration award during the
financial year.

• Number and total amount of guaranteed Number of employees: 1,808

bonuses awarded during the financial year. Total amount: Tk. 0.84 crore

• Number and total amount of sign-on awards Not Applicable.

made during the financial year.

• Number and total amount of severance Nil

payments made during the financial year.

i. Total amount of outstanding deferred Nil

remuneration, split into cash, shares and
share-linked instruments and other forms. Total
amount of deferred remuneration paid out in the
financial year.

72 | Annual Report 2024

j. Breakdown of amount of remuneration awards
for the financial year to show:
• Fixed Tk. 10.30 crore (Amount includes partial/due payment
to the Executives who served during the period).

• Variable Nil

• Deferred and non-deferred Nil

• Different forms used (cash, shares and share Cash only

linked instruments, other forms).

k. Quantitative information about employees’

exposure to implicit (e.g., fluctuations in the
value of shares or performance units) and
explicit adjustments (e.g., claw backs or
similar reversals or downward revaluations of
awards) of deferred remuneration and retained
remuneration:

• Total amount of outstanding deferred Not Applicable

remuneration and retained remuneration
exposed to ex post explicit and/or implicit
adjustments.

• Total amount of reductions during the financial Not Applicable

year due to ex post explicit adjustments.

• Total amount of reductions during the financial Not Applicable

year due to ex post implicit adjustments.

| Annual Report 2024 73

74 | Annual Report 2024
Sustainable Banking means providing socially and management of the Bank:
environmentally responsible products and services that
will have long term positive impact to financial institutes 1. Using more daylight and saving electricity;
and community as a whole. Financial institutions 2. Conserving natural resources like water, gas,
unwilling to follow the path towards sustainability will air and saving other physical resources like
lose competitiveness. The “triple bottom line” approach paper and stationery;
“people, planet and profit” to banking contextualizes 3. Using online communication technology
the relationships between people, the social equity extensively;
bottom line; planet, the environmental bottom line; and 4. Incorporating the latest developments and
profit, the economic bottom line. Guided by these, trends of technologies for fostering utilization of
BASIC Bank is anchored on creating a holistic impact energy ;
that benefits all constituents of its stakeholder 5. Setting up energy efficient devices while using
ecosystem. energy efficient vehicles for corporate business
travels;
This type of banking focuses on responsible and 6. Creating awareness among the employees for
inclusive lending, promoting projects and programs in efficient use of electricity, water, gas, paper,
line with Environmental, Social and Governance (ESG) stationary, fuel and re-use of equipments.
investing. An ESG framework guides investment
decisions to factor in the impact on the environment, Social Initiatives and CSR:
social issues and overall governance instead of just
potential returns. The Bank confers its commitment to social issues such
as employees’ health and safety factors to borrower’s
As a development financial institution, BASIC Bank has entity, presence of child labor as well as forced labor,
demonstrated its commitment firmly towards wage compensation, working hours, congenial
sustainable development to foster social and economic atmosphere at the factories/offices etc. while assessing
growth. To meet the expectations of the stakeholders, business proposals and making positive decisions in
the Bank is concentrating on sustainability of its favor of the clients.
business. BASIC Bank emphasizes Environmental,
Social and Governance (ESG) investing while it’s Socially responsible business is BASIC Bank’s prime
lending programs. As a part of social commitment, motto. Hence the Bank has been taking part in CSR
Bank prioritizes by ascertaining investment of 50 activities since 2008. CSR areas of the bank include
percent of its loan able funds in the Small and Medium education, health, environment and climate change
Scale Industries (SMIs). mitigation & adaptation, income generating activities,
disaster management, infrastructure development,
BASIC Bank places of high importance in avoiding sports and culture, financial literacy, other sectors (as
environmentally hazardous and socially undesirable defined by Bangladesh Bank). Being a corporate
projects. While financing various projects reports citizen, the Bank reaffirms its commitment towards
related to ‘Initial Environmental Examination’ as well as social wellbeing of the citizens of the country. As part of
‘Environmental and Social Impact Assessment’ are social responsibility, the Bank earlier contributed in
taken care of and Environmental and Social Due establishing a day-care center in collaboration with
Diligence (ESDD) are also conducted prior to fund the other four nationalized commercial banks. That facility
projects. What is more, the Bank categorically performs was crafted for those working mothers who would not
Environmental and Social Risk Rating (ESRR) with be burdened by the feeling of insecurity of their wards
conformity to prudential regulations and put due weight at home. On different occasions, the Bank donated
on social return on investment before approving any fund under its CSR initiatives for purchasing medical &
credit proposals. The Bank is promoting the ‘green’ pathological equipments and ambulances for hospitals,
initiatives through effective finance; it also facilitates to procuring computers and various educational items for
micro credit borrowers through direct approach and schools & colleges and developing infrastructure of
indirectly through the role of NGOs, Alternative Credit schools, colleges, universities and other educational
Delivery Channel and MFIs. institutions, organizing & celebrating various cultural
programs & many more.
All branches of BASIC Bank are technologically
sophisticated and fully fledged offices since inception. Green Banking
In addition, it is the first state owned bank that
implemented real time on-line banking in the country Green Banking is a part of global initiatives that are
where in-house environmental management has also intended for financing environment friendly
been highly prioritized. The following issues are projects/ventures. Green Banking concerns for ethical
considered for implementing in-house environmental standard of banking addressing sustainability and

| Annual Report 2024 75

social responsibility in banking. Practice of Green economic activities, to make credit more
Banking focuses on environment-friendly practices at available/convenient for women entrepreneurs and to
all levels of organization and examines environmental promote women entrepreneurship, BASIC Bank has
impact of a project before maneuvering a financing formed ‘Women Entrepreneur Development Unit’ at
decision. Head Office level and Women Entrepreneur Dedicated
Desk at all of its branches. The bank has greatly
Being a socially and environmentally responsible bank
contributed by means of financing 157 women
of the country, BASIC Bank persists to improve its own
entrepreneurs of BDT 603.30 million for the period of
standard progressively while contributing in building
2024. Of them, majority are small entrepreneurs. On
socially responsible business environment taking into
the other hand, total outstanding of loan for women
account the interest of the stakeholders. The Bank is
entrepreneurs as of 31 December 2024 was BDT
aiming to create long-term resilient, sustainable
3079.58 million.
economy, sustainable environment and social value.
As part of these sustainability goals, BASIC Bank is
Financial Inclusion
supporting loans to environment friendly proposals and
refraining from projects which are non-compliant.
‘Financial Inclusion’ has become an issue of worldwide
Policies have been put in place to increase BASIC
concern and a very popular term in the banking arena.
Bank’s exposure to climate change-mitigating
Financial inclusion refers to delivery of banking
industries; introducing ‘Green Banking’ products
services and credit at an affordable cost to the vast
namely ‘BASIC Alternative Power Generation System
section of disadvantaged and low-income group of
(Solar System) Financing Scheme’ in the renewable
people. The various financial services include savings,
energy sector.
loans, insurance, payments, remittance facilities and
The Bank conforms to the instructions stipulated in the financial counseling/advisory services within the formal
detailed guidelines on Environmental and Social Risk financial system.
Management (ESRM) circulated by Bangladesh Bank.
Moreover, the Bank is continuously assessing Millions of people across the country still remain
Environmental & Social Risk Assessment-Generic unbanked or have limited access to banking services.
Checklist in addition to existing Internal Credit Risk For achieving SDG (Sustainable Development Goal)
Rating System (ICRRS) for either of new, renewal, targets, financial inclusion is considered as a very
rescheduling and restructuring industrial projects. important tool for Bangladesh to grow as a
middle-income country. BASIC Bank limited has taken
BASIC Bank firmly promotes green banking to reach its initiatives to bring the unbanked people of our country
long-term strategic objective to be a green, triple under the coverage of banking channel by opening
bottom line bank where every decision will be taken bank account through financial inclusion program. The
with both financial and environmental considerations in major focus under this program has given to the
mind. The Bank’s green banking initiatives includes underprivileged, uprooted, street child, poor and low
Online & paperless banking, reducing greenhouse gas income group people.
emission, mapping bank’s carbon foot print, efficient
energy use, environment friendly projects, plant BASIC Bank has always devised effective strategy for
nursery and horticulture projects etc. disbursing agricultural and rural credit (micro finance)
targeting more financial inclusion of financially
In 2024, the Bank assessed Environmental & Social vulnerable people of the country. To promote financial
Risk Assessment-Generic Checklist of 352 projects, inclusio n, BASIC Bank has already launched different
business ventures worth BDT 21885.10 million. The high yield deposit products and arranged promotional
bank also takes care on environmental and social campaigns at divisional and district level through
issues while processing each loan proposal. The bank school banking conferences, development fairs, SME
has stepped into green finance zone by funding 51 fairs etc. The Bank has conducted workshops,
(Fifty one) projects comprising 30 (Thirty) brick fields, 1 seminars, symposiums in branches in order to train its
(One) plants for Installation of ETP and 8 (Eight) employees so that appropriate service can be delivered
Integrated Cow Rearing & Bio Gas Plant, 4 (Four) to the vulnerable people of the country.
Paper Bottle Recycling plant, 3 (Three) Pet Bottle
Recycling plant, 3 (Three) ‘Polythene Recycling Plant’, E-governance, Innovation And Facing The
1(one) ‘Solar Panel Manufacturing Plant’, 1(one) plant Challenge of Fourth Industrial Revolution in
for Vermicompost, as of 31 December 2024 under Banking Service
project loan and working capital policy’s.
The Fourth Industrial Revolution (4IR) has now
Women Empowerment
become a buzzword but still most of the people in
To ensure more involvement of women in country’s Bangladesh are not much aware of how the new digital

76 | Annual Report 2024

landscape will have a significant impact on their daily (3) Automated Leave Register;
life and activities. Technologies like Artificial
(4) Automated Salary Payment Mechanism;
Intelligence (AI), Internet of Things (IOT), Augmented
Reality (AR), Virtual Reality (VR), Cloud Computing, (5) Credit Report Database;
Block chain Technologies, 3D Printing, Bio
(6) 100% Real-time on-line banking in all branches
Technology, Robotic Engineering and the like are still
far away to embrace due to lack of Training, Study and (7) Wall Mag BASIC
Research in our country.
(8) E-training Portal
In view of the above, our Bank has taken initiatives to (9) Call a Customer
train our employees in the aforesaid fields to face the
(10) BASIC Bank WhatsApp Banking Services App
challenges of Fourth Industrial Revolution (4IR) which
is the talk of the world nowadays. (11) Internet Banking (Magpie Apps)
(12) E-KYC (Electronic Know Your Customers)
During the last two decades of the twenty first century
and at the advent of the new millennium, the banking (13) Electronic Wallet Fund Transfer (With bkash)
industry has emerged as the most alluring sector (14) Magpie Apps
amongst all others for its continuing strive in the field of
innovative cultures by implementing & presenting more (15) I-banking
and more Innovative ideas for its customers. Innovation (16) Remit 365
and its practices in the banking as well as public
services is of utmost importance in easing public (17) Incorporation of various Customer-centric
administration functions which play a significant role in services in Magpie Mobile Apps
enhancing employee efficiency and keeping congenial
working environment everywhere. The government has (18) Utility Bill payment through Mobile Apps
taken various initiatives for institutionalizing the issues (19) Connectivity with bKash & Nagad customers for
of innovation in public services. Taking the purview of
the instruction from access to Information (a2i) under easy payment mechanism
the Prime Minister’s Office, the Bank has constituted an (20) Connectivity with National Payment Switch of
‘Innovation Team’ headed by a Deputy Managing
Director. Bangladesh etc.

The Central Innovation Team of BASIC Bank has been Besides, the Bank is preparing itself with a view to
functioning as a working partner of the Ministry of implement the following innovative ideas within a
Finance to minimize ‘TCV’ (Time, Cost and Visits), shortest possible time.
enhance the functional quality and increase the
efficiency of the working force as well as to modernize (1) Bangla QR Code Payment System
and to develop new service rendering methods. (2) BASIC Rin Prokoron Engine
(3) Cheque Book Issue Mechanism (From Any Branch)
As part of the drive, the Bank has successfully initiated (4) On-line Account Opening Mechanism
the following innovative ideas: (5) Electronically Stationery Requisition & Supply
(6) BASIC Lens (Observing Every Transaction
(1) Real-time Utility Bill Payment System; Round The Clock) and
(2) SMS Alert Service; (7) Unique Loan Management Software etc.

“Sustainable banking isn’t just a philosophy – it’s about action.”

| Annual Report 2024 77

 Corporate Governance
Practices of the Bank

78 | Annual Report 2024

Preface: Chairman of the Board through convening the 663rd
Board meeting held on November 17, 2024. As on
Corporate governance encompasses the framework of December 31, 2024 the Board was comprised of seven
rules, relationships, systems and processes within which members, of whom three were retired bankers, two were
fiduciary authority is exercised and controlled in bureaucrats, one was retired bureaucrat and the rest one
companies. The parties involved in corporate governance was the MD & CEO of the Bank. Since January 2024, a
include the governing or regulatory bodies i.e., total of 28 Board meetings were held up to December
Bangladesh Bank, Bangladesh Securities and Exchange 2024. The Directors, having sound academic and
Commission, the Managing Director / Chief Executive professional background, skills and experiences, add
Officer, the Board of Directors, Management and value toward corporate governance and maximizing the
Shareholders. Other Stakeholders who take part include shareholders’ value.
employees, suppliers, creditors, lenders, customers and
the community at large. Good governance is an essential The Board discharges its duties through convening Board
element in corporate success and sustainable economic meetings on regular basis as per Memorandum and
growth of a nation. Being a stakeholder of the society Articles of Association of the Bank, directives of
BASIC Bank is keen to augment the corporate Bangladesh Bank as well as usual banking norms and
governance practices toward accountability, sustainable practices.
growth of the Bank as well as betterment of our economy.
Chairman of the Board:
The Board:
Mr. Helal Ahmed Chowdhury, former Managing Director &
The members of the Board of Directors of the Bank are CEO of Pubali Bank PLC., was appointed as a Director &
appointed by the Financial Institutions Division, Ministry of Chairman of the Board of Directors of BASIC Bank Limited
Finance, Government of the People’s Republic of on October 31, 2024 by the Financial Institutions Division
Bangladesh. The Board with the chairmanship of of Ministry of Finance. Prior to his joining at BASIC Bank
Professor Dr. Abul Hashem was in function till October 09, Limited Mr. Chowdhury had been serving as an
2024. Then Mr. Helal Ahmed Chowdhury was appointed Independent Director of Bank Asia PLC. and Chairman of
as a Director & Chairman of the Board of Directors on BA Express USA Inc., a subsidiary of Bank Asia PLC.
October 31, 20024. Mr. Helal started his journey as the

Attendance of the Directors in Board Meetings held during 2024:

Total No. of No. of

Sl No. Name of the Director Remarks
meetings held attendance
After his joining as Director & Chairman in the
1. Mr. Helal Ahmed Chowdhury 28 04 663rd Board meeting held on 17.11.2024,
Chairman
total 04 meetings were held up to 31.12.2024.
Total 23 Board meetings were held during his
2. Professor Dr. Abul Hashem 28 23
tenure as the Chairman of the Bank till
Ex-Chairman
09.10.2024.
He could not attend the 662nd and 663rd
3. Dr. Nahid Hossain 28 26
Board meeting held on 07.11.2024 and
Director
17.11.2024 due to personal reasons.

4. Dr. Md. Abdul Khaleque Khan, F.F 28 28

Director -

He could not attend the 659th and 666th

5. Mr. Shamim Ahammed 28 26 Board meeting held on 22.09.2024 and
Director 26.12.2024 due to personal reasons.

6. Mr. Md. M. Latif Bhuiyan 28 28

Director -

7. Mr. Md. Rafiqul Islam 28 28

Director -

| Annual Report 2024 79

 Total No. of No. of
Sl No. Name of the Director Remarks
meetings held attendance
After his joining as the MD & CEO on
8. Mr. Md. Quamruzzaman Khan 28 02 03.12.2024, total 02 Board meetings were
Managing Director & CEO
held up to 31.12.2024.
His first tenure as the MD & CEO ended on
9. Mr. Md. Anisur Rahman 28 17 31.03.2024. He again joined the Bank as the
Ex-Managing Director & CEO MD & CEO on 24.04.2024 after being
reappointed by FID, MoF. Later, as per
instructions of FID, MoF, his contract as MD
& CEO was terminated on 22.09.2024. Total
18 Board meetings were held during his two
tenures in 2024 and he attended 17 of those.
He could not attend meeting No. 652 held on
27.06.2024 due to his Ex-Country leave.

The Committees of the Board of Directors: is a relatively new concept that was reflected through
amendments to the Banking Companies Act in 2013. The
As per Banking Companies Act 1991 (amended up to ToR of the Risk Management Committee is based on the
2023), presently there are three committees of the Board, guidelines of Bangladesh Bank. The Risk Management
namely Executive Committee, Audit Committee and Risk Committee of the Bank as on 31.12.2024 was comprised
Management Committee of the Board of Directors of the of the following members:
Bank. Each Committee operates under separate Terms of
Reference (ToR) as per said Act and the guidelines of 01. Dr. Md. Abdul Khaleque Khan, F.F. - Chairman
Bangladesh Bank. 02. Dr. Nahid Hossain - Member
03. Mr. Shamim Ahammed - Member
Executive Committee: 04. Mr. Md. M. Latif Bhuiyan - Member
05. Mr. Md. Rafiqul Islam - Member
The Board delegated administrative, financial and
business authorities to the Executive Committee though A total of 11 meetings of the Risk Management Committee
all policy matters and strategic issues are under the were held in 2024.
jurisdiction of the Board of Directors of the Bank. The
Executive Committee of the Bank as on 31.12.2024 was Compliance with Bangladesh Bank regulations:
comprised of the following members:
The Bank as a scheduled commercial bank gives priority
towards meticulous compliance with all regulatory
01. Mr. Md. Rafiqul Islam - Chairman requirements of Bangladesh Bank focusing core risk
02. Mr. Helal Ahmed Chowdhury - Member management, capital adequacy, loan classification and
03. Mr. Shamim Ahammed - Member provisioning, foreign exchange regulations, liquidity
management, anti-money laundering guidelines, BASEL
A total of 06 meeting of the Executive Committee were implementation etc.
held in 2024.
Compliance with Corporate Governance guidelines of
Audit Committee: Bangladesh Bank:

The ToR of the Audit Committee is based on the The Bank follows the guidelines of Bangladesh Bank on
guidelines of Bangladesh Bank. The Audit Committee of corporate governance regarding responsibilities and
the Bank as on 31.12.2024 was comprised of the following accountabilities of the Board of Directors, responsibilities
members: of the Chairman of the Board focusing credit and risk
management, internal control, human resources
01. Dr. Nahid Hossain - Chairman management as well as income and expenses,
02. Dr. Md. Abdul Khaleque Khan, F.F. - Member responsibilities and accountabilities of the CEO and the
03. Mr. Md. M. Latif Bhuiyan - Member contractual appointment of the Adviser, Consultant for any
bank.
A total of 07 meetings of the Audit Committee were held in
2024. Compliance with BSEC regulations:

Risk Management Committee: The Bank follows the applicable regulations of the
Bangladesh Securities and Exchange Commission
The Risk Management Committee of the Board of Directors (BSEC) though it is yet to be a listed company.

80 | Annual Report 2024

MD & CEO and CFO’s
Declaration to the Board on Integrity of Financial Statements
April 29, 2025

The Board of Directors

BASIC Bank Limited
Senakalyan Bhaban
195 Motijheel C/A
Dhaka-1000

Subject: Declaration on Financial Statements for the year ended on 31 December 2024.

Dear Sirs,

Pursuant to the condition No. 1(5)(xxvi) imposed vide the Commission’s Notification No. BSEC/
CMRRCD/2006-158/207/Admin/80 Dated 03 June 2018 under section 2CC of the Securities and Exchange Ordinance,
1969, we do hereby declare that:

(1) The Financial Statements of BASIC Bank Limited for the year ended on 31 December 2024 have been
prepared in compliance with International Accounting Standards (IAS) or International Financial Reporting
Standards (IFRS), as applicable in the Bangladesh and any departure there from has been adequately disclosed;
(2) The estimates and judgments related to the financial statements were made on a prudent and reasonable
basis, in order for the Financial Statements to reveal a true and fair view;
(3) The form and substance of transactions and the Company’s state of affairs have been reasonably and fairly
presented in its financial statements;
(4) To ensure above, the Company has taken proper and adequate care in installing a system of internal
control and maintenance of accounting records;
(5) Our internal auditors have conducted periodic audits to provide reasonable assurance that the established
policies and procedures of the Company were consistently followed; and
(6) The management’s use of the going concern basis of accounting in preparing the financial statements is
appropriate and there exists no material uncertainty related to events or conditions that may cast significant
doubt on the Company ability to continue as a going concern.

In this regard, we also certify that:

(i) We have reviewed the financial statements for the year ended on 31 December 2024 and that to the best of our
knowledge and belief:
(a) these statements do not contain any materially untrue statement or omit any material fact or contain
statements that might be misleading;
(b) these statements collectively present true and fair view of the Company affairs and are in compliance with
existing accounting standards and applicable laws.
(ii) There are, to the best of our knowledge and belief, no transactions entered into by the Company during the
year which are fraudulent, illegal or in violation of the code of conduct for the Company’s Board of Directors
or its members.

Sincerely yours,

(Md. Quamruzzaman Khan) (Saidur Rahman Sohel)

Managing Director & Chief Executive Officer (MD & CEO) General Manager & CFO

| Annual Report 2024 81

 Thirty Six Years of
BASIC Bank Ltd

82 | Annual Report 2024

A. From the Balance Sheet (Million Taka) 2024 2023 2022 2021
Authorized Capital 55,000.00 55,000.00 55,000.00 55,000.00
Paid-up Capital 10,846.98 10,846.98 10,846.98 10,846.98
Share Money Deposit 26,000.00 26,000.00 26,000.00 26,000.00
Reserve and Surplus (51,387.76) (42,989.47) (38,954.25) (37,421.89)
Shareholders' Equity (14,540.78) (6,142.49) (2,107.27) (574.91)
Fixed Assets 409.55 447.26 365.46 375.01
Total Assets 148,351.32 168,181.44 180,575.95 195,561.35
Deposits 135,529.28 146,933.94 148,961.57 150,980.39
Long-term Debt 1,913.54 2,277.03 2,900.12 4,627.16
Loans and Advances 128,889.06 131,524.83 134,595.36 144,451.77
Placement & Investment 5,414.50 22,063.20 30,700.37 36,058.78
B. From the Income Statement (Million Taka)
Gross Income 6,078.49 8,308.90 10,006.32 7,993.92
Gross Expenditure 14,478.35 12,403.03 11,282.42 12,016.88
Profit before Tax and Provision (8,399.86) (4,094.13) (1,248.60) (4,022.96)
Profit/(Loss) after Tax (8,630.94) (4,162.95) (1,301.65) (3,969.79)
Tax Paid (cumulative) 8,873.51 8,750.13 8,461.33 8,339.99
C. Others (Million Taka)
Import Business 28,487.60 31,297.60 27,217.36 29,176.40
Export Business 33,641.90 30,534.10 29,310.60 21,362.20
D. Financial Ratios (Percentage)
Capital Adequacy Ratio (8.10) (3.35) (1.36) 0.18
Capital Fund to Deposite Liabilities (10.73) (4.18) (1.41) (0.38)
Liquid Assets to Deposit Liabilities 7.50 7.44 10.91 9.15
Loan to Deposit Liabilities 93.47 88.20 88.40 92.92
Earning Assets to Deposit Liabilities 34.46 48.20 58.96 62.48
After Tax Return on Average Assets (5.45) (2.39) (0.69) (2.02)
Net Profit to Gross Income (141.99) (50.10) (13.01) (49.66)
Interest Magin Cover (225.89) (182.72) (95.09) (163.46)
After Tax Return on Equity (104.66) (270.97) (53.73) (49.01)
SMI/SSI Loan and Micro Credit to Loanable Fund 49.05 51.79 40.03 40.31
Number of Branches 72 72 72 72
Number of Employees 1,808 1,879 1,939 2,005
Deposit per employee (Million Taka) 74.96 78.20 76.82 75.30
Advance per employee (Million Taka) 71.29 70.00 69.41 72.05
Profit before Tax per employee (Million Taka) (4.65) (2.18) (0.64) (2.01)

| Annual Report 2024 83

 A. From the Balance Sheet (Million Taka) 2020 2019 2018 2017
Authorized Capital 55,000.00 55,000.00 55,000.00 55,000.00
Paid-up Capital 10,846.98 10,846.98 10,846.98 10,846.98
Share Money Deposit 26,000.00 26,000.00 26,000.00 26,000.00
Reserve and Surplus (33,153.85) (29,839.84) (26,465.66) (22,939.89)
Shareholders' Equity 3,693.13 7,007.14 10,381.32 13,907.09
Fixed Assets 414.93 472.71 312.29 349.66
Total Assets 196,678.18 194,915.97 191,560.41 198,816.67
Deposits 139,714.95 138,307.35 131,821.58 143,180.24
Long-term Debt 8,454.52 7,315.44 7,082.11 2,198.15
Loans and Advances 149,125.94 151,769.61 151,968.05 145,568.59
Placement & Investment 29,157.29 27,995.90 25,313.44 37,599.23
B. From the Income Statement (Million Taka)
Gross Income 7,772.95 8,489.12 9,586.44 10,615.17
Gross Expenditure 11,476.08 11,555.65 10,787.00 10,263.62
Profit before Tax and Provision (3,703.13) (3,066.53) (1,200.56) 351.55
Profit/(Loss) after Tax (3,718.18) (3,269.03) (3,538.95) (6,843.69)
Tax Paid (cumulative) 8,292.03 8,245.39 8,124.98 8,067.46
C. Others (Million Taka)
Import Business 27,758.60 32,514.70 41,925.40 39,035.90
Export Business 19,161.10 22,470.90 23,102.40 22,285.70
D. Financial Ratios (Percentage)
Capital Adequacy Ratio 3.08 6.53 8.25 (13.22)
Capital Fund to Deposite Liabilities 2.64 5.07 7.88 9.71
Liquid Assets to Deposit Liabilities 10.39 9.58 7.75 13.60
Loan to Deposit Liabilities 100.84 103.88 109.45 100.25
Earning Assets to Deposit Liabilities 74.00 72.82 68.70 67.50
After Tax Return on Average Assets (1.90) (1.69) (1.81) (3.39)
Net Profit to Gross Income (47.83) (38.51) (36.92) (64.47)
Interest Magin Cover (155.39) (77.25) (41.11) (6.52)
After Tax Return on Equity (28.09) (20.57) (21.08) (55.38)
SMI/SSI Loan and Micro Credit to Loanable Fund 40.13 39.71 40.72 40.34
Number of Branches 72 72 68 68
Number of Employees 2,070 2,097 2,075 2,103
Deposit per employee (Million Taka) 67.50 65.95 63.53 68.08
Advance per employee (Million Taka) 72.04 72.37 73.24 69.22
Profit before Tax per employee (Million Taka) (1.79) (1.46) (0.58) 0.17

84 | Annual Report 2024

A. From the Balance Sheet (Million Taka) 2016 2015 2014 2013
Authorized Capital 55,000.00 25,000.00 25,000.00 5,000.00
Paid-up Capital 10,846.98 10,846.98 2,946.98 2,946.98
Share Money Deposit 16,000.00 16,000.00 7,900.00
Reserve and Surplus (16,038.66) (899.90) 2,166.94 3,092.20
Shareholders' Equity 10,808.32 25,947.08 13,013.92 6,039.18
Fixed Assets 409.03 514.23 649.68 723.08
Total Assets 204,739.63 194,173.36 171,118.53 157,072.19
Deposits 158,070.98 148,167.23 139,934.06 134,493.45
Long-term Debt 2,325.16 2,482.94 2,673.97 2,780.50
Loans and Advances 134,882.80 128,807.01 119,384.90 109,428.44
Placement & Investment 54,209.42 44,677.93 37,299.33 34,584.88
B. From the Income Statement (Million Taka)
Gross Income 11,932.41 11,514.96 15,113.56 17,338.74
Gross Expenditure 11,841.56 14,079.21 16,237.94 15,868.54
Profit before Tax and Provision 90.85 (2,564.25) (1,124.38) 1,470.20
Profit/(Loss) after Tax (14,930.40) (3,140.36) (1,100.16) (531.53)
Tax Paid (cumulative) 7,918.05 7,879.44 7,844.26 7,798.92
C. Others (Million Taka)
Import Business 30,380.20 32,104.90 38,318.80 42,007.20
Export Business 23,415.80 21,892.70 26,691.30 30,538.30
D. Financial Ratios (Percentage)
Capital Adequacy Ratio (15.59) (7.55) (29.08) (1.66)
Capital Fund to Deposite Liabilities 6.84 17.51 9.30 4.49
Liquid Assets to Deposit Liabilities 10.86 16.88 12.03 11.80
Loan to Deposit Liabilities 83.62 84.72 85.32 78.31
Earning Assets to Deposit Liabilities 73.50 70.47 54.14 84.52
After Tax Return on Average Assets (7.49) (1.72) (0.67) (0.40)
Net Profit to Gross Income (125.12) (27.27) (7.28) (3.07)
Interest Magin Cover (39.29) (115.46) (50.36) 61.62
After Tax Return on Equity (81.24) (12.10) (11.55) (8.50)
SMI/SSI Loan and Micro Credit to Loanable Fund 40.57 44.15 41.18 43.07
Number of Branches 68 68 68 68
Number of Employees 2,132 2,163 2,237 2,145
Deposit per employee (Million Taka) 74.14 68.50 62.55 62.70
Advance per employee (Million Taka) 63.27 59.55 53.37 51.02
Profit before Tax per employee (Million Taka) 0.04 (1.19) (0.50) 0.69

| Annual Report 2024 85

 A. From the Balance Sheet (Million Taka) 2012 2011 2010 2009
Authorized Capital 5,000.00 5,000.00 2,000.00 2,000.00
Paid-up Capital 2,946.98 2,357.59 1,964.65 1,455.30
Share Money Deposit
Reserve and Surplus 3,493.60 3,124.17 2,509.78 2,468.65
Shareholders' Equity 6,440.58 5,481.76 4,474.43 3,923.95
Fixed Assets 526.82 364.46 283.12 232.65
Total Assets 109,682.06 78,031.73 61,569.38 45,308.31
Deposits 87,693.23 62,650.73 49,259.60 34,501.69
Long-term Debt 3,742.93 2,788.15 2,718.46 2,875.16
Loans and Advances 85,955.76 56,884.76 46,341.51 29,261.53
Placement & Investment 14,111.57 13,760.82 9,294.02 12,244.91
B. From the Income Statement (Million Taka)
Gross Income 13,402.26 8,825.20 6,120.53 5,162.30
Gross Expenditure 10,792.18 6,476.70 4,403.49 3,593.96
Profit before Tax and Provision 2,610.08 2,348.50 1,717.05 1,568.34
Profit/(Loss) after Tax 27.89 976.11 660.93 648.85
Tax Paid (cumulative) 7,066.80 5,987.61 4,948.64 4,225.37
C. Others (Million Taka)
Import Business 37,093.50 47,087.80 42,205.90 33,976.60
Export Business 29,939.20 33,061.10 23,998.80 19,887.70
D. Financial Ratios (Percentage)
Capital Adequacy Ratio 10.05 10.13 9.41 13.48
Capital Fund to Deposite Liabilities 7.34 8.75 9.08 11.37
Liquid Assets to Deposit Liabilities 9.91 14.28 12.06 24.67
Loan to Deposit Liabilities 91.75 87.74 94.08 84.81
Earning Assets to Deposit Liabilities 105.56 108.22 81.55 116.44
After Tax Return on Average Assets 0.03 1.40 1.24 1.41
Net Profit to Gross Income 0.21 11.06 10.80 12.57
Interest Magin Cover 110.17 139.76 95.15 135.79
After Tax Return on Equity 0.47 19.61 14.95 18.79
SMI/SSI Loan and Micro Credit to Loanable Fund 52.12 54.67 56.78 56.93
Number of Branches 62 45 34 32
Number of Employees 1,657 1,132 964 776
Deposit per employee (Million Taka) 52.92 55.35 51.10 44.46
Advance per employee (Million Taka) 51.87 50.25 48.07 37.71
Profit before Tax per employee (Million Taka) 1.58 2.07 1.78 2.02

86 | Annual Report 2024

A. From the Balance Sheet (Million Taka) 2008 2007 2006 2005
Authorized Capital 2,000.00 2,000.00 2,000.00 2,000.00
Paid-up Capital 1,309.77 1,247.40 945.00 810.00
Share Money Deposit
Reserve and Surplus 1,672.82 1,349.17 1,294.00 916.14
Shareholders' Equity 2,982.59 2,596.58 2,239.00 1,726.14
Fixed Assets 228.36 196.11 154.52 135.78
Total Assets 46,660.03 38,773.91 29,417.09 27,136.37
Deposits 38,368.23 31,947.98 24,084.65 22,325.58
Long-term Debt 1,708.40 1,385.81 830.06 937.51
Loans and Advances 27,269.13 22,263.35 19,000.00 15,339.35
Placement & Investment 15,659.03 13,560.92 8,212.23 10,236.82
B. From the Income Statement (Million Taka)
Gross Income 5,060.29 3,549.51 2,870.32 2,228.21
Gross Expenditure 3,526.35 2,458.41 1,858.69 1,599.77
Profit before Tax and Provision 1,533.94 1,091.10 1,011.62 628.44
Profit/(Loss) after Tax 549.86 282.96 554.14 285.49
Tax Paid (cumulative) 3,538.01 2,790.98 2,245.16 1,777.70
C. Others (Million Taka)
Import Business 27,359.77 21,266.57 17,804.27 14,094.96
Export Business 22,270.87 16,794.96 15,463.74 11,097.23
D. Financial Ratios (Percentage)
Capital Adequacy Ratio 12.04 12.91 11.98 11.77
Capital Fund to Deposite Liabilities 7.81 9.23 10.34 10.36
Liquid Assets to Deposit Liabilities 47.70 49.10 40.42 58.01
Loan to Deposit Liabilities 71.07 69.69 78.89 69.74
Earning Assets to Deposit Liabilities 114.69 109.70 112.99 114.56
After Tax Return on Average Assets 1.30 0.83 1.96 1.23
Net Profit to Gross Income 10.87 7.97 19.31 12.81
Interest Magin Cover 137.08 176.80 211.72 214.56
After Tax Return on Equity 19.68 11.70 27.82 17.75
SMI/SSI Loan and Micro Credit to Loanable Fund 59.32 56.73 53.43 50.66
Number of Branches 31 31 28 27
Number of Employees 735 721 651 601
Deposit per employee (Million Taka) 52.20 44.31 37.00 37.15
Advance per employee (Million Taka) 37.10 30.88 29.19 25.52
Profit before Tax per employee (Million Taka) 2.09 1.51 1.55 1.05

| Annual Report 2024 87

A. From the Balance Sheet (Million Taka) 2004 2003 2002 2001
Authorized Capital 2,000.00 2,000.00 500.00 500.00
Paid-up Capital 675.00 450.00 300.00 300.00
Share Money Deposit
Reserve and Surplus 816.23 799.29 712.90 461.39
Shareholders' Equity 1,491.23 1,249.29 1,012.90 761.35
Fixed Assets 101.41 73.49 76.68 65.73
Total Assets 19,436.57 14,766.32 13,019.42 9,721.93
Deposits 15,509.18 11,266.54 10,021.24 7,512.62
Long-term Debt 839.61 690.95 676.51 582.82
Loans and Advances 12,000.15 9,282.20 7,957.04 6,260.78
Placement & Investment 6,098.51 4,361.93 3,988.76 2,605.23
B. From the Income Statement (Million Taka)
Gross Income 1,768.85 1,558.52 1,290.66 1,041.76
Gross Expenditure 1,241.63 1,004.85 856.15 685.64
Profit before Tax and Provision 527.22 553.67 434.51 356.12
Profit/(Loss) after Tax 291.48 236.39 251.55 213.67
Tax Paid (cumulative) 1,434.76 1,199.02 881.73 698.76
C. Others (Million Taka)
Import Business 12,507.80 9,882.80 8,645.00 7,542.80
Export Business 7,908.00 6,933.90 5,557.60 5,957.90
D. Financial Ratios (Percentage)
Capital Adequacy Ratio 12.49 12.57 13.20 12.49
Capital Fund to Deposite Liabilities 10.47 10.65 10.11 10.13
Liquid Assets to Deposit Liabilities 50.56 51.05 54.80 51.47
Loan to Deposit Liabilities 77.37 82.39 79.40 83.34
Earning Assets to Deposit Liabilities 116.70 121.10 119.20 118.01
After Tax Return on Average Assets 1.70 1.70 2.20 2.45
Net Profit to Gross Income 16.48 15.17 19.35 20.51
Interest Magin Cover 205.07 210.87 187.00 173.91
After Tax Return on Equity 21.27 20.90 28.18 28.06
SMI/SSI Loan and Micro Credit to Loanable Fund 62.21 59.16 63.00 50.18
Number of Branches 27 26 26 25
Number of Employees 578 523 510 497
Deposit per employee (Million Taka) 26.83 21.54 19.65 15.12
Advance per employee (Million Taka) 20.76 17.75 15.60 12.60
Profit before Tax per employee (Million Taka) 0.91 1.06 0.85 0.72

88 | Annual Report 2024

A. From the Balance Sheet (Million Taka) 2000 1999 1998 1997
Authorized Capital 500.00 500.00 500.00 500.00
Paid-up Capital 240.00 160.00 80.00 80.00
Share Money Deposit
Reserve and Surplus 457.77 424.43 394.48 258.34
Shareholders' Equity 697.77 584.43 474.48 338.34
Fixed Assets 51.11 37.83 41.96 36.39
Total Assets 7,730.67 7,173.17 5,620.57 4,350.14
Deposits 5,845.15 5,647.93 4,551.48 3,541.60
Long-term Debt 555.98 368.85 344.61 273.29
Loans and Advances 4,618.73 3,960.11 3,218.90 2,630.90
Placement & Investment 2,462.17 2,021.19 2,040.72 1,395.59
B. From the Income Statement (Million Taka)
Gross Income 877.48 794.59 591.64 440.46
Gross Expenditure 573.30 528.01 364.73 268.83
Profit before Tax and Provision 304.18 266.58 226.91 171.63
Profit/(Loss) after Tax 173.34 159.95 136.15 94.61
Tax Paid (cumulative) 556.31 425.47 318.84 228.08
C. Others (Million Taka)
Import Business 7,948.00 7,391.10 7,208.20 7,017.56
Export Business 5,557.00 5,060.30 4,420.20 3,754.87
D. Financial Ratios (Percentage)
Capital Adequacy Ratio 15.30 14.27 14.01 12.45
Capital Fund to Deposite Liabilities 11.94 10.34 10.42 9.55
Liquid Assets to Deposit Liabilities 59.52 59.09 62.29 59.58
Loan to Deposit Liabilities 79.02 66.71 66.81 69.86
Earning Assets to Deposit Liabilities 117.74 85.34 115.56 113.69
After Tax Return on Average Assets 2.33 2.50 2.73 2.28
Net Profit to Gross Income 19.75 20.45 23.01 21.48
Interest Magin Cover 150.67 112.67 192.07 194.64
After Tax Return on Equity 27.04 30.21 28.69 27.96
SMI/SSI Loan and Micro Credit to Loanable Fund 46.96 40.09 42.21 35.83
Number of Branches 25 23 22 21
Number of Employees 453 417 372 351
Deposit per employee (Million Taka) 12.90 13.54 12.24 10.09
Advance per employee (Million Taka) 10.20 9.50 8.65 7.50
Profit before Tax per employee (Million Taka) 0.67 0.64 0.61 0.49

| Annual Report 2024 89

 A. From the Balance Sheet (Million Taka) 1996 1995 1994 1993
Authorized Capital 100.00 100.00 100.00 100.00
Paid-up Capital 80.00 80.00 80.00 80.00
Share Money Deposit
Reserve and Surplus 163.73 105.96 53.49 27.81
Shareholders' Equity 243.73 185.96 133.49 107.81
Fixed Assets 25.45 21.27 21.37 20.82
Total Assets 3,962.55 3,280.16 2,609.85 2,321.13
Deposits 3,357.05 2,773.73 2,241.33 1,977.60
Long-term Debt 196.45 166.08 119.68 122.18
Loans and Advances 1,724.81 1,561.29 1,112.24 986.61
Placement & Investment 1,320.43 995.57 483.90 672.29
B. From the Income Statement (Million Taka)
Gross Income 311.43 291.62 232.87 197.67
Gross Expenditure 207.41 191.66 181.51 163.01
Profit before Tax and Provision 104.02 99.96 51.36 34.66
Profit/(Loss) after Tax 57.77 52.48 25.68 17.33
Tax Paid (cumulative) 151.06 104.81 57.33 31.65
C. Others (Million Taka)
Import Business 4,986.10 4,657.86 2,613.50 1,851.13
Export Business 2,609.30 1,783.09 1,227.08 718.63
D. Financial Ratios (Percentage)
Capital Adequacy Ratio 12.39 - - -
Capital Fund to Deposite Liabilities 7.26 6.70 5.96 5.45
Liquid Assets to Deposit Liabilities 70.42 66.22 68.17 66.91
Loan to Deposit Liabilities 47.82 54.17 49.62 49.89
Earning Assets to Deposit Liabilities 99.57 97.52 74.04 83.69
After Tax Return on Average Assets 1.60 1.78 1.04 0.76
Net Profit to Gross Income 18.54 18.00 11.03 8.77
Interest Magin Cover 112.45 109.68 60.33 84.98
After Tax Return on Equity 23.70 28.22 21.28 17.48
SMI/SSI Loan and Micro Credit to Loanable Fund 40.99 43.44 46.25 22.16
Number of Branches 19 18 17 16
Number of Employees 315 300 238 196
Deposit per employee (Million Taka) 10.66 9.25 9.42 10.09
Advance per employee (Million Taka) 5.48 5.20 4.67 5.03
Profit before Tax per employee (Million Taka) 0.33 0.33 0.22 0.18

90 | Annual Report 2024

A. From the Balance Sheet (Million Taka) 1992 1991 1990 1989
Authorized Capital 100.00 100.00 100.00 100.00
Paid-up Capital 80.00 80.00 80.00 80.00
Share Money Deposit
Reserve and Surplus 10.48 4.83 4.36 1.09
Shareholders' Equity 90.48 84.83 84.36 81.09
Fixed Assets 16.26 15.15 14.08 7.62
Total Assets 1,646.95 991.37 661.91 406.73
Deposits 1,367.36 843.79 529.19 317.72
Long-term Debt 125.80 30.00 30.00 -
Loans and Advances 715.75 432.80 200.00 66.45
Placement & Investment 553.61 404.60 341.11 287.52
B. From the Income Statement (Million Taka)
Gross Income 126.70 98.80 61.11 28.42
Gross Expenditure 117.52 95.33 52.22 24.28
Profit before Tax and Provision 9.18 3.47 8.89 4.14
Profit/(Loss) after Tax 4.13 2.87 3.27 1.09
Tax Paid (cumulative) 14.32 9.27 8.67 3.05
C. Others (Million Taka)
Import Business 1,656.70 1,144.16 582.39 296.41
Export Business 365.50 115.64 36.76 -
D. Financial Ratios (Percentage)
Capital Adequacy Ratio - - - -
Capital Fund to Deposite Liabilities 6.62 10.05 15.94 25.52
Liquid Assets to Deposit Liabilities 75.59 61.21 81.86 104.05
Loan to Deposit Liabilities 52.35 51.29 37.79 20.91
Earning Assets to Deposit Liabilities 92.70 101.48 102.99 111.41
After Tax Return on Average Assets 0.23 0.23 0.39 0.35
Net Profit to Gross Income 3.26 2.90 5.35 3.84
Interest Magin Cover 57.85 82.15 102.43 123.10
After Tax Return on Equity 4.71 3.39 3.95 1.34
SMI/SSI Loan and Micro Credit to Loanable Fund 15.38 15.56 23.84 28.12
Number of Branches 13 10 7 3
Number of Employees 159 124 100 48
Deposit per employee (Million Taka) 8.60 6.80 5.29 6.62
Advance per employee (Million Taka) 4.50 3.49 2.00 1.38
Profit before Tax per employee (Million Taka) 0.06 0.03 0.09 0.09

| Annual Report 2024 91

 Independent Auditor’s Report
To the Shareholders of
BASIC Bank Limited

92 | Annual Report 2024

Report on the Audit of the Financial Statements clients/accounts files of the Bank of its Gulshan,
Shantinagar, Dilkusha, Babubazar, Main Branch of
Opinion Dhaka and Agrabad branch of Chittagong, loans for
which were sanctioned and disbursed/renewed
We have audited the financial statements of BASIC Bank during the period from 2010-2014 without complying
Limited (the Bank), which comprise the balance sheets as with relevant policies, procedures of the Bank, the
of 31 December 2024, and profit & loss account, a rules and regulations of the Bangladesh Bank, etc.
statement of changes in equity, and a statement of cash Investigation on all of those loan clients/accounts
flows for the year then ended and notes to the financial files is still being carried out by the Anti-Corruption
statements, including a summary of significant accounting Commission, Bangladesh. In the interest of said
policies and other explanatory information. investigation, the Bank has informed us that all those
files containing original documents, records,
In our opinion, the accompanying financial statements instruments, etc., were seized and taken by the
give a true and fair view, in all material respects of the Anti-Corruption Commission, Bangladesh. However,
financial position of the Bank as of 31 December 2024 and during our audit period, we have obtained recent
of its financial performance and its cash flows for the year updates on these clients and found that among
then ended in accordance with International Financial these 60 parties outstanding amount to Taka
Reporting Standards (IFRSs) as explained in note 2 and 5,334.26 crore, 39(thirty-nine) clients have a loan
other applicable laws and regulations. outstanding amounting to Taka 4,159.41 Crore
which is bad/losses, and loans of the remaining 21
Basis for Opinion (twenty) parties have been written off as per
guidelines of Bangladesh Bank amount to Taka
We conducted our audit in accordance with International 1,174.85 crore.
Standards on Auditing (ISAs). Our responsibilities under
those standards are further described in the Auditors’ • Note 16 to the financial statements, which describes
Responsibilities for the Audit of the Financial Statements the share money deposit of Taka 2,600 Crore, is yet
section of our report. We are independent of the Bank in to be converted into paid-up share capital due to
accordance with the International Ethics Standards Board pending approval of an increase in authorized
for Accountants Code of Ethics for Professional capital by the RJSC and FEID Circular No. 02,
Accountants (IESBA Code), Bangladesh Bank, and we issued on February 5, 2020. However, this amount
have fulfilled our other ethical responsibilities in has been considered as share capital while
accordance with the IESBA Code and the Institute of calculating EPS following circular bs 146/ GdAviwm
Chartered Accountants of Bangladesh (ICAB) Bye-Laws. / cÖkvt/ cÖÁvcb/ 2020/ 01 dated 11 February 2020 from
We believe that the audit evidence we have obtained is the Financial Reporting Council (FRC).
sufficient and appropriate to provide a basis for our opinion.
• We draw attention to Note-2.9.9 of the financial
Emphasis of matter statements where the management has described
the possible effects of IFRS 16 “Leases”.
We draw attention to the following matters disclosed in the
financial statements. Our opinion, however, is not • The Bank has signed a Memorandum of
modified in respect of those matters. Understanding (MOU) with Bangladesh Bank vide
ref. no- [Link].[Link], dated- 03
• Note 14.3 to the financial statements, which January 2023 under which the Bank is trying to
describe the risk-weighted assets and capital ratios maintain the requirements of MOU.
as defined in the Basel Capital Accord which shows
that the Bank has failed to maintain the required • Statutory Audit has not been conducted for Gratuity Since
capital. Regulatory capital has been calculated by 2020 for that appropriate provision has not been included.
the Bank in accordance with Bangladesh Bank's
approval vide its Letter No. DOS(CAMS) • We draw your attention to note 3.3 of the financial
1157/41(Dividend)/ 2025-3095, dated 21 May 2025 statements where negative CRR & SLR represent
and DOS (CAMS) 1157/41 (Dividend)/ 2024- 1839 amount to Taka 250.91 crore and Taka 1,089.78
dated 30 April 2024. Bangladesh Bank has allowed crore respectively. It is also noted that, the Bank
a deferral facility to the Bank for maintaining a CRR & SLR also negative throughout the year,
provision shortfall of Taka 5,316.81 crore. The Bank which indicates the Banks were facing liquidity crisis
represents a shortfall of Capital amounting to Taka and its net cash flow were negative amount Taka
3,828.31 crore, and negative CRAR is 8.10%. On 76.20 Crore and liquidity statement also negatively
he other hand, in minor shock, it will stand at represent amount to Taka 1,454.08 crore. The Bank
negative 10.31%. needs to follow the guidelines of Bangladesh Bank.

• Notes 7, 7.7, 13.1, and 34 to the financial • The Banks net gap between cost of fund and yield
statements, which describe the total loans and on loan is to 4.46% which leads to the Bank on
advances and provision thereon. The total required negative interest income and operating cash flows
provision as per the Bangladesh Bank is Taka year to year. Considering this situation, the Banks
5,854.19 crore. The Bank has maintained an amount faces liquidity crisis which leads to the decrease of
of Taka 537.38 crore. The difference is Taka
5,316.81 crore against loans and advances, which is deposit amount to Taka 1,140.47 crore, including
disclosed in Notes 7.7 and 13.1 of the financial 113.48 crore of non-interest-bearing deposit over
statement. The justification behind not maintaining the year of the Bank. It is to be noted that, the Bank
the required provision was the insufficiency of the negative Return on Assets is 5.45% which is
bank’s capital/equity to maintain the required increased more than 128.43% from the prior year.
provision. During the year, the Bank did not write off On the other hand, net gap was increased by
any loans & advances. 21.74% from the prior year.
• The Bank provided us with a list of 60 (Sixty) loan

| Annual Report 2024 93

Material Uncertainty Related to Going Concern

The Bank represents negative interest income amount to Taka 598.19 crore and has remained negative since 2014. The Bank
also represents negative operating income amount to Taka 575.17 crore and remain negative since 2020. On the other hand,
the Bank represents negative operating cash flow amount to Taka 76.20 crore and remain negative since 2016. The Bank's
total negative shareholders’ equity represent amount to Taka 1,454.08 crore. The Bank has been suffering a serious liquidity
crisis since 2016, and then the bank availed a forbearance facility from Bangladesh Bank. It is also noted that the Bank's total
Non-performing Loans as on 31 December 2024 is nearly 68.55% without considering the writ petition taken by the parties from
the honourable court. The above events & circumstances indicate that the Bank has material uncertainty related to going
concern. In consideration of consecutive backing from Bangladesh Bank our has not been modified.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in the audit of the financial
statements for the year ended 31 December 2024. These matters were addressed in the context of the audit of the financial
statements, and in forming the Auditors' opinion thereon, we do not provide a separate opinion on these matters. For each
matter described below, our description of how our audit addressed the matter is provided in that context.

We have fulfilled the responsibilities described in the auditor’s responsibilities for the audit of the financial statements section
of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to
respond to our assessment of the risks of material misstatements of the financial statements. These results of our audit
procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the
accompanying financial statements.

Description of key audit matters Our response to key audit matters

Measurement of provision for loans and advances
The process for estimating the provision for loans & We tested the design and operating effectiveness of key
advances portfolios associated with credit risk is controls focusing on the following:
judgmental and complex.
• Credit monitoring and provisioning process;
The Bank calculates provision for loans and advances • Identification of loss events, including early
by considering various factors such as rate of provision, warning and default warning indicators; and
loan category, expiry date, outstanding balance, • Review of quarterly Classification of Loans (CL).
interest suspense amount, and value of eligible • Follow Bangladesh Bank’s circular and
collateral as per BRPD circular no. 14 dated 23 guidelines;
September 2012 and its subsequent amendments. • Furthermore, obtained the recent updates of the
clients under investigation by the Anti-Corruption
To minimize the COVID-19 impact, Bangladesh Bank Commission, on these clients and found that
issued several circulars for providing deferral facilities to among these 60 parties outstanding amount to
aggrieved customers and directed the banks to keep an Taka 5,334.26 crore, 39(thirty-nine) clients have
extra provision (Special General Provision-COVID-19) a loan outstanding amounting to Taka 4,159.41
for those borrowers who have availed the deferral Crore which is bad/losses, and loans of the
facilities. remaining 21 (twenty) parties have been written
off as per guidelines of Bangladesh Bank
As per BRPD Circular No. 58 dated December 31, amount to Taka 1,174.85 crore.
2024, the Special General Provision for COVID-19 has
been repealed and Banks may transfer the special Our substantive procedures in relation to the provision for
general provision to a general or specific provision. the loan and advances portfolio comprised the following:
Accordingly, BASIC Bank Limited has transferred the
special general provision of 19.33 crore to the general For confirming the classification of rescheduled leases,
provision. loans, and advances. we performed the following
procedures:
At the year's end, the Bank reported total loans and
advances of Taka 12,888.91 crore (2023: Taka • We checked the no. of instalments outstanding
13,152.48 crore) and provision for loans and advances and compliance with BRPD Circular No. 16
of Taka 537.38 crore (2023: Taka 536.20 crore) dated 18 July 2022;
respectively. We have focused on the following
significant judgments and estimates that could give rise • We have checked that the provision regarding
to a material misstatement or management bias: COVID-19 has been transferred to the general
provision.
• The Bank provided us with a list of 60 (Sixty) loan
clients/accounts files of the Bank loans that were • Reviewed the adequacy of the bank's general
sanctioned and disbursed/renewed during the period and specific provisions;
from 2010-2014. Investigation on all of those loan
clients/accounts files is still being carried out by the • Assessed the methodologies on which the
Anti-Corruption Commission, Bangladesh. provision amounts are based (value of eligible
securities, interest suspense), recalculated the
ovisions for lease, loans, and advances; and

• We assessed the appropriateness and presentation

94 | Annual Report 2024

Since the identification of NPLs and provisioning for of disclosures against relevant accounting standards
loans and advances requires a significant level of and Bangladesh Bank guidelines.
estimation, and given its significance to the overall audit, • Finally, we compare the amount of provision
we have identified the measurement of provisioning for requirement as determined by the Bangladesh
loans and advances as a key audit matter. Bank inspection team to the actual amount of
provision maintained.

See notes no 7, 7.7, 13.1, and 34 to the financial statements.

Loans and advances
Loans and advances are the main elements of the We tested the design and operating effectiveness of key
financial statements of the Bank. The income of the controls focusing on credit appraisal, loan disbursement
Bank is mainly dependent on the portfolio of loans and procedures, and monitoring process as well as the
advances. Management performance is highly percentage of non-performing loans and advances.
dependent on the target achievement of loans and
advances. Loan disbursement requires robust We have performed procedures to check whether the
documentation followed by approval from the Bank has ensured appropriate documentation as per
appropriate level of authority. We have identified loans Bangladesh Bank regulations and the Bank’s policy
and advances as key audit matters because there is an before disbursement of loans and advances. In addition,
inherent risk of fraud in the disbursement of loans and we have performed procedures to check whether the
advances by management to meet specific targets or loans and advances are recorded completely and
expectations. In addition, the bank reported a accurately and that are exist at the reporting date.
non-performing loan of Taka 8,835.57 crore, 5.20% Furthermore, we have assessed the appropriateness of
higher than the previous year (2023: Taka 8,332.75 disclosure against Bangladesh Bank guidelines.
crore), which is 68.55% of the total loans and advances.
See notes no 7, 7.7, 13.1, and 34 to the financial statements.
Recognition of interest income
Recognition of interest income has a significant and We tested the design and operating effectiveness of key
wide influence on financial statements. Recognition and controls over the recognition and measurement of
measurement of interest income has involvement in interest on loans and advances.
complex IT environments.
We performed a test of operating effectiveness on
We identify recognition of interest income from loans automated control in place to measure and recognize
and advances as a key audit matter because this is one interest income.
of the key performance indicators of the Bank and
therefore there is an inherent risk of fraud and error in We have also performed substantive procedures to
recognition of interest by management to meet specific check whether interest income is recognized completely
targets or expectations. and accurately.

The bank has reported an interest income of Taka We assessed the appropriateness and presentation of
584.83 crore which is 14.51% higher than the previous disclosure against relevant accounting standards and
year (2023: Taka 499.99 crore). As such, negative EPS Bangladesh Bank guidelines.
represent Taka 2.34 which has decreased 1.07 times as
compared to last year. We assessed the appropriateness and presentation of
disclosure against relevant accounting standards and
The Bank has reported negative investment income Bangladesh Bank guidelines.
Taka 68.54 crore which is decrease by 1.42 times. On
the other hand, commission, exchange brokerage, and We Performed the substantive analytical procedure to
other operating income reported Taka 91.56 crore which assess the reasonableness of interest recognized
is 45.61% lower than the previous year (2023: Taka during the year.
168.34 crore).

Accordingly, this has been considered a key audit

matter.

| Annual Report 2024 95

 See note no 19 to the financial statements
Measurement of deferred tax assets (DTA)
The adequacy of the income tax provision and the We obtained an understanding, evaluated the design
measurement of deferred tax assets is considered a key and tested the operational effectiveness of the Bank’s
audit matter due to the significant judgment involved in key controls over the recognition and measurement of
determining both the current and deferred tax, as well as both current tax and deferred tax, including the
the potential impact on the financial position and assumptions used in estimating the Bank’s taxable
performance of the company. These areas involve income.
complex estimates, the application of tax laws, and the
assessment of future taxable income, which require We carefully reviewed any ongoing tax litigation
careful consideration and professional judgment. between the Bank and the income tax authority, as well
as the tax positions for the years where income tax
Both income tax provisions and deferred tax assets rely assessments are still pending. We also assessed the
on significant estimates. There is a risk that these adequacy of the tax provision recorded by the Bank.
estimates may be incorrect or overly optimistic, Special attention was given to any reversals or
particularly in the case of deferred tax assets, which can adjustments made to the income tax provision from prior
be recognized only if it is probable that the Bank will years.
have future taxable profits against which the deferred
tax assets can be utilized. We also assessed the completeness and accuracy of
the data used for the estimations of future taxable
Due to the inherent complexity and estimation income to ensure that The Bank has sufficient taxable
uncertainty in both areas, and the materiality of the profit to recover the deferred tax assets in foreseeable
amounts involved; we have determined them as a key future.
audit matter.
We recalculated the current tax provision and deferred
tax assets to ensure that the Bank has determined them
in accordance with the applicable laws and regulations.

We engaged our tax specialist team to assess the key

assumptions, controls, and the recognition and
measurement of both current and deferred tax.

Finally, we assessed the appropriateness and

presentation of the disclosures in accordance with IAS
12, Income Taxes, including the deduction of deferred
tax assets from regulatory capital.

See note 9 and 36 to the financial statements.

Increasing authorized capital and measurement of share money deposit
The bank has an amount of Taka 2,600 crore, kept as a We assessed the status of the processes and controls
share money deposit in the financial statements, which put in place by the Bank for the conversion of the share
was received from the Government of Bangladesh. money deposit.

This has a wide influence on the financial statements We checked necessary compliances and procedures
and requires adequate compliance. relating to the matter. Finally, we assessed the
appropriateness and presentation of disclosures against
Accordingly, this has been considered a key audit relevant accounting standards.
matter.

96 | Annual Report 2024

See note 16 to the financial statements.
Valuation of treasury bills and treasury bond
The classification and measurement of Treasury Bills We assessed the processes and controls put in place by
and Treasury Bonds require judgment and complex the Bank to identify and confirm the existence of
estimates. treasury bills and bonds.

In the absence of a quoted price in an active market, the We obtained an understanding, evaluated the design,
fair value of Treasury Bills and Treasury Bonds is and tested the operating effectiveness of the key
determined using complex valuation techniques that controls over the treasury bills and bonds valuation
may take into consideration direct or indirect processes, including controls over market data inputs
unobservable market data and complex pricing models into valuation models, model governance, and valuation
that require an elevated level of judgment. adjustments.

We tested a sample of the valuation models and the

inputs used in those models, using a variety of
techniques, including comparing inputs to available
market data.

Finally, we assessed the appropriateness and

presentation of disclosures against relevant accounting
standards and Bangladesh Bank guidelines.

See note no 6.1.1 and 6.1.2 to the financial statements

Impairment assessment of unquoted investments
In the absence of a quoted price in an active market, the We have assessed the processes and controls put in
fair value of unquoted shares and bonds, especially any place by the Company to ensure all major investment
impairment is calculated using valuation techniques that decisions are undertaken through a proper due diligence
may take into consideration direct or indirect process.
unobservable market data and hence require an
elevated level of judgment. We tested a sample of investment valuation as of 31
December 2024 and compared our results to the
recorded value.

Finally, we assessed the appropriateness and

presentation of disclosures against relevant accounting
standards and Bangladesh Bank guidelines.

| Annual Report 2024 97

 See note no 6.2 to the financial statements
IT Systems and controls
Our audit procedures have a focus on IT systems and We tested the design and operating effectiveness of the
controls due to the pervasive nature and complexity of Bank’s IT access controls over the information systems
the IT environment, the large volume of transactions that are critical to financial reporting.
processed in numerous locations daily, and the reliance
on automated and IT-dependent manual controls. We tested IT general controls (logical access, change
management, and aspects of IT operational controls).
Our areas of audit focus included user access This included testing that requests for access to systems
management, developer access to the production were appropriately reviewed and authorized.
environment, and changes to the IT environment. These
are key to ensuring IT-dependent and application-based We tested the Bank’s periodic review of access rights
controls are operating effectively. and reviewed requests for changes to systems for
appropriate approval and authorization.

We considered the control environment relating to

various interfaces, configurations, and other application
layer controls identified as key to our audit.

We perform the testes of IT general controls to evaluate

the application development and databases, hosting
platforms and segregation of incompatible duties
relevant to application and database change
management.
Legal and regulatory matters
We focused on this area because the Bank operates in We obtained an understanding, evaluated the design,
a legal and regulatory environment that is exposed to and tested the operational effectiveness of the Bank’s
significant litigation and similar risks arising from key controls over the legal provision and contingencies
disputes and regulatory proceedings. Such matters are process.
subject to many uncertainties and the outcome may be
difficult to predict. We enquired to those charged with governance to obtain
their view on the status of all significant litigation and
These uncertainties inherently affect the amount and regulatory matters.
timing of potential outflows concerning the provisions
that have been established and other contingent We enquired about the Bank’s internal legal counsel for
liabilities. all significant litigation and regulatory matters and
inspected internal notes and reports.
Overall, the legal provision represents the Bank’s best
estimate for existing legal matters that have a probable We assessed the methodologies on which the provision
and estimable impact on the Bank’s financial position. amounts are based, recalculated the provisions, and
tested the completeness and accuracy of the underlying
information. We also assessed the Bank’s provisions
and contingent liabilities disclosure.

98 | Annual Report 2024

Other Matter

We have sought balance confirmations for cash & balance with Bangladesh, Bank’s & NBFI’s, investments in shares &
securities, deposits and bonds. However, no responses have been received to date.

Reporting on Other Information

Management is responsible for the other information. The other information comprises all of the information in the
Annual Report other than the financial statements and our Auditors’ report thereon. The Annual Report is expected to
be made available to us after the date of this Auditor’s report.

Our opinion on the financial statements does not cover other information and we do not express any form of assurance
conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information identified above
when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based
on the work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements and Internal
Controls

Management is responsible for the preparation and fair presentation of the financial statements of the Bank in
accordance with IFRSs as explained in note 2.1, and for such internal control as management determines is necessary
to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
The Bank Company Act, 1991 (as amended up to date), and the Bangladesh Bank regulations require the management
to ensure effective internal audit, internal control, and risk management functions of the Bank. The Management is also
required to make a self-assessment of the effectiveness of anti-fraud internal controls and report to Bangladesh Bank
on instances of fraud and forgeries.

In preparing the financial statements, management is responsible for assessing the Bank’s ability to continue as a going
concern, disclosing, as applicable matters related to going concerned and using the going concern basis of accounting
unless management either intends to liquidate the Bank or to cease operations or has no realistic alternative but to do
so.

Those charged with governance are responsible for overseeing the Bank’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error and to issue an auditors’ report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with
ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken based on these financial statements.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism
throughout the audit. we also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit to design audit procedures that are appropriate
in the circumstances.

| Annual Report 2024 99

 • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may
cast significant doubt on the Bank’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the
financial statements or, if such disclosures are inadequate, to modify our opinion.

• Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However,
future events or conditions may cause the Bank to cease to continue as a going concern.

• Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business
activities within the Bank to express an opinion on the financial statements. We are responsible for the
direction, supervision, and performance of the Bank audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during
our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the financial statements of the current year and are therefore the key audit matters. We
describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because
the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such
communication.

Report on other Legal and Regulatory Requirements

In accordance with the Companies Act, 1994 (as amended up to date), the Bank Companies Act, 1991 (as amended up
to date), and the rules and regulations issued by Bangladesh Bank, we also report that:

i. We have obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purpose of our audit and made due verification thereof;

ii. To the extent noted during the course of our audit work performed on the basis stated under the ‘Auditors’
Responsibility’ section in forming the above opinion on the financial statements of the Bank and considering the
reports of the management to Bangladesh Bank on anti-fraud internal controls and instances of fraud and
forgeries as stated under ‘Management’s Responsibility’ section for the financial statements and internal control:

(a) Internal audit, internal control, and risk management arrangements of the Bank, as disclosed in the financial
statements appeared to be materially adequate;

(b) Nothing has come to our attention regarding material instances of forgery or irregularity or administrative error
and exception or anything detrimental committed by employees of the Bank other than the matter disclosed in
the financial statements.

iii. In our opinion, proper books of account as required by law have been kept by the Bank so far as it appeared
from our examination of those books;

100 | Annual Report 2024

 iv. The balance sheet and profit and loss account of the Bank together with the annexed notes dealt with by the
report are in agreement with the books of account and returns;

v. The expenditures incurred were for the purpose of the Bank's business for the year;

vi. Adequate provisions have been made for advance and other assets which are in our opinion, doubtful of recovery;

vii. The financial statements of the Bank have been drawn up in conformity with prevailing rules, regulations and
accounting standards as well as related guidance issued by Bangladesh Bank;

viii. Provision has been maintained by the Bank in accordance with Bangladesh Bank approval vide its Letter No.
DOS(CAMS) 1157/41(Dividend)/2025-3095, dated-21 May 2025, and DOS (CAMS) 1157/ 41 (Dividend) /2024
-1839 dated-30 April 2024.

ix. Capital to Risk-weighted Asset Ratio (CRAR) as required by Bangladesh Bank has not been maintained
adequately during the year as stated in note 14.3 to the financial statements;

x. The records and statements submitted by the branches have been properly maintained and consolidated in the
financial statements;

xi. The information and explanations required by us have been received and found satisfactory;

xii. The expenditures incurred were for the purpose of the Bank’s business for the year and;

xiii. We have reviewed over 80% of the risk-weighted assets of the Bank and we have spent around 4,700
person-hours on the audit of the books and accounts of the Bank.

Kazi Zahir Khan & Co.

Place of Issue: Dhaka, Bangladesh. Chartered Accountants
Date of Issue: FRC Registration #CAF-001-116
DVC No.:

Md. Nurul Hossain Khan FCA

Enrolment no.: 0240
Managing Partner

| Annual Report 2024 101

 BASIC Bank Limited
Balance Sheet
As at 31 December 2024

Amount of Taka
Notes
PROPERTY AND ASSETS 31.12.2024 31.12.2023
Cash*: 3 9,008,558,333 9,143,834,663
Cash in hand (including foreign currencies) 1,367,500,171 1,141,660,877
Balance with Bangladesh Bank & its agent bank(s) 7,641,058,162 8,002,173,786
(including foreign currencies)

Balance with other banks & financial institutions: 4 1,157,484,425 1,784,241,675

In Bangladesh 598,410,620 557,577,637
Outside Bangladesh 559,073,805 1,226,664,038

Money at Call & Short Notice 5 - -

Investments: 6 4,257,015,423 20,278,962,943
Government 2,919,551,378 18,927,418,270
Others 1,337,464,045 1,351,544,673
Loans & Advances: 7 128,889,061,260 131,524,829,699
Loans, Cash Credit & Overdraft etc. 127,890,314,689 130,591,095,399
Bills purchased & discounted 998,746,571 933,734,300

Fixed assets including premises, furniture and fixtures 8 409,546,173 447,259,333

Other assets 9 4,605,796,509 4,978,458,181

Non-banking Assets 10 23,858,490 23,858,490

Total Assets 148,351,320,613 168,181,444,984

LIABILITIES AND CAPITAL

Borrowings from other banks, financial Institutions and 11 2,224,824,124 2,277,029,982

agents

Deposits and other accounts: 12 135,529,279,823 146,933,936,813

Current Accounts and other Accounts 7,391,466,794 8,168,833,529
Bills Payable 620,935,820 1,000,211,752
Savings Bank Deposits 9,402,865,074 10,767,694,099
Fixed Deposits 118,114,012,135 126,997,197,433
Bearer Certificates of Deposit - -
Other Deposits - -
Other liabilities 13 25,137,998,327 25,112,968,245
Total Liabilities: 162,892,102,274 174,323,935,040
Capital/Shareholders' Equity:
Paid up Capital 14.2 10,846,982,500 10,846,982,500
Statutory Reserve 15 2,224,690,642 2,224,690,642
Other Reserve 16 27,245,896,833 27,028,167,425
Surplus in Profit and Loss A/C 17 (54,858,351,636) (46,242,330,623)
Total Shareholders' Equity** (14,540,781,661) (6,142,490,056)
Total Liabilities and Shareholders' Equity 148,351,320,613 168,181,444,984
*see Statement of Cash Flows
**see Statement of Changes in Equity

102 | Annual Report 2024

 Amount of Taka
OFF-BALANCE SHEET ITEMS Notes
31.12.2024 31.12.2023

CONTINGENT LIABILITIES: 18
Acceptances and Endorsements 3,778,836,752 3,158,413,446
Letters of Guarantee 3,788,710,932 3,424,892,339
Irrevocable Letters of Credit 8,541,080,311 8,082,842,340
Bills for Collection 66,541,038 85,195,526
Other Contingent Liabilities 1,113,666,325 1,107,132,325
Total: 17,288,835,358 15,858,475,976
OTHER COMMITMENTS:
Documentary credit and short term trade-related
transactions - -
Forward assets purchased and forward deposits placed - -
Undrawn note issuance and revolving underwriting
facilities - -
Undrawn formal standby facilities, credit lines and
other commitments - -
Total:
Total Off-Balance Sheet items including contingent liabilities: 17,288,835,358 15,858,475,976

These financial statements should be read in conjunction with the annexed notes.

Managing Director & CEO Director Director Chairman

Signed as per our annexed report on same date.

Place: Dhaka Kazi Zahir Khan & Co.

Dated:
Chartered Accountants
DVC:
FRC Registration #CAF-001-116

Md. Nurul Hossain Khan FCA

Enrollment no. : 0240
Managing Partner

| Annual Report 2024 103

 BASIC Bank Limited
Profit & Loss Account
For the year ended 31 December 2024

Amount of Taka
Notes
2024 2023
Interest income 19 5,848,277,117 4,999,907,589
Interest paid on deposits and borrowings etc. 20 (11,830,157,688) (9,784,527,828)
Net interest income (5,981,880,571) (4,784,620,239)

Investment income 21 (685,350,540) 1,625,646,885

Commission, exchange and brokerage 22 606,668,539 800,397,678
Other operating income 23 308,893,800 882,950,050
230,211,799 3,308,994,613
Total operating income (5,751,668,772) (1,475,625,626)

Salary and allowances 24 1,798,008,406 1,805,403,164

Rent, taxes, insurance, electricity etc. 25 315,291,701 308,070,462
Legal & professional expenses 26 11,233,727 23,873,234
Postage, stamp, telecommunication etc. 27 25,698,531 17,490,041
Stationery, Printings, Advertisements etc. 28 37,974,110 35,256,579
Managing Director's salary 29 4,478,251 5,225,150
Directors' fees 30 2,860,781 2,793,200
Auditors' fees 575,000 575,000
Charges on loan losses - -
Depreciation of bank's assets 31 70,292,080 81,759,593
Repair of bank's assets 32 35,364,941 35,053,995
Other expenses 33 346,414,066 303,006,077
Total operating expenses 2,648,191,594 2,618,506,495
Profit/(Loss) before provision (8,399,860,366) (4,094,132,121)
Provision (excess provision) for loan 34 11,851,740 -
Provision (excess provision) for Off Balance Sheet Exposures 34 14,300,594 43,194,912
Provision (excess provision) for other assets 34 (31,283,728) (228,898,321)
Provision (excess provision) for Investment 34 157,229,117 (26,800,000)
Provision (excess provision) for Balance with other Banks and NBFIs 34 - -
Total provision 152,097,723 (212,503,409)

Total Profit/(Loss) before taxes (8,551,958,089) (3,881,628,712)

Provision for Current Tax 35 123,380,848 288,799,777

Provision for Deferred Tax 36 (44,394,924) (7,477,772)
Net Profit/(Loss) after Taxation (8,630,944,013) (4,162,950,717)

104 | Annual Report 2024

 Amount of Taka
Notes
2024 2023
Appropriations:
Statutory Reserve 37 - -
General Reserve 37 - -
Dividends etc. 37 - -
Retained surplus (8,630,944,013) (4,162,950,717)
Earning Per Share (EPS) 39 (7.96) (3.84)
Diluted Earning Per Share (Diluted EPS) 39 (2.34) (1.13)

These financial statements should be read in conjunction with the annexed notes.

Managing Director & CEO Director Director Chairman

Signed as per our annexed report on same date.

Place: Dhaka Kazi Zahir Khan & Co.

Dated:
Chartered Accountants
DVC:
FRC Registration #CAF-001-116

Md. Nurul Hossain Khan FCA

Enrollment no. : 0240
Managing Partner

| Annual Report 2024 105

 BASIC Bank Limited
Statement of Cash Flows
For the year ended 31 December 2024

Amount of Taka
2024 2023
Cash flows from operating activities
Interest receipts in cash 5,329,750,647 6,618,075,144
Interest payments (11,769,862,930) (9,902,488,196)
Dividends receipts 64,917,053 47,669,521
Fee and commission receipts in cash 606,668,539 800,397,678
Recoveries of loans previously written off 122,010,663 48,091,367
Cash payments to employees (1,708,172,919) (1,841,970,806)
Cash payments to suppliers (37,974,110) (35,256,579)
Income taxes paid (146,722,869) (151,064,913)
Receipts from other operating activities (item- wise) 186,883,137 816,811,032
Payments for other operating activities (item-wise) (737,438,747) (690,862,009)
Operating profit before changes in operating assets and liabilities (8,089,941,536) (4,290,597,761)

Increase/Decrease in operating assets and liabilities 7,412,729,430 (271,276,538)

Statutory deposits - -
Purchase/sale of trading securities 16,239,676,928 3,103,861,831
Loans & advances to other banks - -
Loans & advances to customers 2,635,768,439 3,070,533,295
Other assets (item-wise) 181,733,966 878,311,516
Deposits from other banks 21,442,603 (15,083,183)
Deposits from customers (11,426,099,593) (2,012,554,020)
Other liabilities (item-wise) (239,792,913) (5,296,345,977)
Net cash from operating activities (677,212,106) (4,561,874,299)

Cash flows from investing activities

Proceeds from Sale of Securities - -
Payments for Purchase of Securities - -
Purchase of property, plant & equipment (32,729,134) (164,037,518)
Sales of property, plant & equipment 113,518 18,527,793
Net cash from investing activities (32,615,616) (145,509,725)

Cash flows from financing activities

Increase/(Decrease) of Long Term Borrowing (52,205,858) (623,093,750)
Receipt from Government - -
Conversion of borrowing into reserve - -
Payment of Dividend
Net cash from financing activities (52,205,858) (623,093,750)
Net increase/decreasing cash (762,033,580) (5,330,477,774)
Effects of Exchange Rate Changes on Cash and Cash Equivalent - -
Cash and cash equivalents at beginning period 10,928,076,338 16,258,554,112
Cash and cash equivalents at end of period 10,166,042,758 10,928,076,338

106 | Annual Report 2024

 Amount of Taka
2024 2023
Analysis of cash and cash equivalents at end of period

Cash 9,008,558,333 9,143,834,663

Balance with other banks & financial institutions 1,157,484,425 1,784,241,675
Money at call on Short Notice - -
10,166,042,758 10,928,076,338

Managing Director & CEO Director Director Chairman

Signed as per our annexed report on same date.

Place: Dhaka Kazi Zahir Khan & Co.

Dated:
Chartered Accountants
DVC:
FRC Registration #CAF-001-116

Md. Nurul Hossain Khan FCA

Enrollment no. : 0240
Managing Partner

| Annual Report 2024 107

108
BASIC Bank Limited
Statement of Changes in Equity
For the year ended 31 December 2024

Other Reserve

Paid-up Capital Statutory Reserve Non-cumulative Investment

Particulars Share Money
irredeemable General Reserve Revaluation Sub-Total Profit and Loss Total
Deposit
preference share Reserve
Taka Taka Taka Taka Taka Taka Taka
Balance as at 01 January 2024 10,846,982,500 2,224,690,642 1,205,000,000 40,000,000 26,000,000,000 (216,832,575) 27,028,167,425 (46,242,330,623) (6,142,490,056)
Add: Wrongly excess interest income was - - - - - - - 2,031,000 2,031,000
reversed in the approved audited Financial
Statements-2023.
Add: Wrongly assessed as interest income - - - - - - - 12,892,000 12,892,000
instead of interest suspense by DBI-8
inspection team-2023.

Opening Balance after adjustment for non- 10,846,982,500 2,224,690,642 1,205,000,000 40,000,000 26,000,000,000 (216,832,575) 27,028,167,425 (46,227,407,623) (6,127,567,056)
banking assets
Net Profit for the Year - - - - - - (8,630,944,013) (8,630,944,013)
Increase/ (decrease) of Investment Revaluation - - - - 217,729,408 217,729,408 - 217,729,408
Reserve during the year
Transferred to Other Reserve - - - - - - - -
Cash Dividend Paid during the year - - - - - - - -
Dividend Distribution Tax - - - - - - - -
Issue of share capital - - - -
Share Money received during the year - - - - -
Issuance of bonus share - - - - - - - -
Transferred to Statutory Reserve - - - - - - - - -
Free Reserve - - - - - - - -

Balance as at 31 December 2024 10,846,982,500 2,224,690,642 1,205,000,000 40,000,000 26,000,000,000 896,833 27,245,896,833 (54,858,351,636) (14,540,781,661)

These financial statements should be read in conjunction with the annexed notes.

Managing Director & CEO Director Director Chairman

Signed as per our annexed report on same date.

| Annual Report 2024

 BASIC Bank Limited
Liquidity Statement
(Asset and Liability Maturity Analysis)
As at 31 December 2024

(Amount in Taka)

Particulars Up to 01 month 1 - 3 months 3 - 12 months 1 - 5 years More than 5 years Total

Assets:
Cash in hand 1,367,500,171 - - - 7,641,058,162 9,008,558,333
Balance with other banks and financial
688,060,556 39,335,322 - 430,088,547 - 1,157,484,425
institutions
Money at call on short notice - - - - - -

| Annual Report 2024

Investment 4,524,700 - 237,580,000 4,014,851,223 59,500 4,257,015,423
Loans and Advances 1,954,989,652 6,304,691,211 23,219,490,439 85,679,593,544 11,730,296,414 128,889,061,260
Fixed assets including premises, furniture &
fixtures - - 2,833,365 127,996,837 278,715,971 409,546,173
Other assets - 149,457,844 144,534,523 1,197,462,512 3,114,341,630 4,605,796,509
Non-banking assets - - - - 23,858,490 23,858,490
Total Assets 4,015,075,079 6,493,484,377 23,604,438,327 91,449,992,663 22,788,330,167 148,351,320,613
Liabilities:
Borrowing from Bangladesh Bank, other banks,
financial institutions and agents 311,810,238 1,104,166 5,203,700 27,202,006 1,879,504,014 2,224,824,124

Deposits & Other accounts 23,726,160,371 37,987,990,112 46,504,404,025 25,206,015,085 2,104,710,230 135,529,279,823
Provision and other liabilities 619,800,000 100,927,685 3,630,049,428 7,509,011,656 13,278,209,558 25,137,998,327
Total Liabilities 24,657,770,609 38,090,021,963 50,139,657,153 32,742,228,747 17,262,423,802 162,892,102,274
Net Liquidity Gap (20,642,695,530) (31,596,537,586) (26,535,218,826) 58,707,763,916 5,525,906,365 (14,540,781,661)

Managing Director & CEO Director Director Chairman

Signed as per our annexed report on same date.

109
 BASIC Bank Limited
Notes to the Financial Statements
For the year ended 31 December 2024
1. The Bank and its activities

1.1 Corporate information

BASIC Bank Limited ("the Bank") was incorporated as a banking company in 1989 under the eastwhile
Companies Act, 1913 and governed by the Bank Companies Act, 1991 (amended 2013). In 2001 the Bank
changedits earlier name 'Bank of Small Industries and Commerce Bangladesh Limited' and registered the new
name as "BASIC Bank Limited" with the Registrar of Joint Stock Companies and Firms. Initially the Bank started
its operation as a joint venture organization of the then BCC foundation, a welfare trust in Bangladesh and the
Government of the People's Republic of Bangladesh. On 4 June 1992 the Government of Bangladesh took over
100% shares and became the sole owner of the Bank. Thus, it is recognized as a state-owned Bank. It operates
with 72 branches and 37 sub-branches in Bangladesh. The registered office of the Bank is located at 73
Motijheel C/A, Dhaka-1000.

1.2 Objectives

The Memorandum and Articles of Association of BASIC Bank Limited stipulate that at least fifty percent of its
loanable fund shall be used for financing Small and Medium Scale Industries. The principal activities of the Bank
is unique in blending development financing and commercial banking.

2. Basis of preparation and significant accounting policies

Basis of preparation

2.1 Statement of compliance

The financial statements of the Bank are prepared in accordance with the International Financial Reporting
Standards (IFRS) and the requirements of the Bank Companies Act 1991 (amended 2013), the rules and
regulations issued by Bangladesh Bank and the Companies Act 1994. In case any requirement of the Bank
Companies Act 1991, and provisions and circulars issued by Bangladesh Bank differ with those of IFRS, the
requirements of the Bank Companies Act 1991, and provisions and circulars issued by Bangladesh Bank shall
prevail. Material departures from the requirements of IFRS are as follows:

i) Inves tment in shares and securities

IFRS: As per requirements of IAS 39 investment in shares and securities generally falls either under
“at fair value through profit and loss account” or under “available for sale” where any change in the fair
value (as measured in accordance with IFRS 13) at the year-end is taken to profit and loss account or
revaluation reserve respectively.
Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003 investments in quoted shares
and unquoted shares are revalued at the year end at market price and as per book value of last audited
balance sheet respectively. Provision should be made for any loss arising from diminution in the value
of investment; otherwise investments are recognised at cost.
ii) Revaluation gains/losses on government securities
IFRS: As per requirement of IAS 39 where securities will fall under the category of Held for Trading
(HFT), any change in the fair value of held for trading assets is recognised through profit and loss
account. Securities designated as Held to Maturity (HTM) are measured at amortised cost method and
interest income is recognised through the profit and loss account.

Bangladesh Bank: Held for Trading (HFT) securities are revalued on the basis of marked to market
at every week end and at year end. Any gains on revaluation of securities which have not matured as
at the revaluation date are recognised in other reserves as a part of equity and any losses on
revaluation of securities which have not matured as at the revaluation date are charged in the profit
and loss account. Interest on HFT securities including amortisation of discount are recognised in the
profit and loss account. Held to Maturity (HTM) securities which have not matured as at the balance
sheet date are amortised at the year end and gains or losses on amortisation are recognised in other
reserve as a part of equity.

110 | Annual Report 2024

iii) Provision on loans and advances/investments

IFRS: As per IAS 39 an entity should start the impairment assessment by considering whether objective
evidence of impairment exists for financial assets that are individually significant. For financial assets that are
not individually significant, the assessment can be performed on an individual or collective (portfolio) basis.
Bangladesh Bank: As per BRPD Circular No. 14 dated 23 September 2012, BRPD Circular No. 15 dated
23 September 2012, BRPD Circular No. 06 dated 29 May 2013, BRPD Circular No. 05 dated 16 May 2019,
BRPD Circular No. 03 dated 21 April 2019, BRPD Circular No. 16 dated 21 July 2020, BRPD Circular No. 17
dated 28 September 2020, BRPD Circular No. 56 dated 10 December 2020 BRPD Circulars no. 3 dated 31
January, 2021, no. 5 dated 24 March, 2021 and no, 51 dated 29 December 2021 and BRPD Circular letter
No. 53 dated 30 December 2021; a general provision at 0.25% to 5% under different categories of
unclassified loans has to be maintained regardless of objective evidence of impairment. Also provision for
sub-standard loans, doubtful loans and bad & loss loans has to be provided at 5%, 20%, 50% and 100%
respectively for loans and advances depending on the duration of overdue. Again as per BRPD circular no.
10 dated 18 September 2007 and BRPD circular no. 14 dated 23 September 2012, a general provision at
1% is required to be provided for all off-balance sheet exposures. Such provision policies are not specifically
in line with those prescribed by IAS 39.

iv) Recognition of interes t in suspense

IFRS: Loans and advances to customers are generally classified as 'loans and receivables' as per IAS 39
and interest income is recognised through effective interest rate method over the term of the loan. Once a
loan is impaired, interest income is recognised in profit and loss account on the same basis based on revised
carrying amount.

Bangladesh Bank: As per BRPD circular no. 14 dated 23 September 2012, once a loan is classified, interest on
such loans are not allowed to be recognised as income, rather the corresponding amount needs to be credited to
an interest suspense account, which is presented as liability in the balance sheet.

v) Other comprehensive income

IFRS: As per IAS 1 Other Comprehensive Income (OCI) is a component of financial statements or the
elements of OCI are to be included in a single Other Comprehensive Income statement.

Bangladesh Bank: Bangladesh Bank has issued templates for financial statements to be strictly followed by
all banks. The templates of financial statements issued by Bangladesh Bank do not include Other
Comprehensive Income nor are the elements of Other Comprehensive Income allowed to be included in a
single Other Comprehensive Income (OCI) Statement. As such the Bank does not prepare the other
comprehensive income statement. However, elements of OCI, if any, are shown in the statements of
changes in equity.

vi) Financial ins truments – presentation and disclosure

In several cases Bangladesh Bank guidelines categorise, recognise, measure and present financial
instruments differently from those prescribed in IAS 39. As such full disclosure and presentation
requirements of IFRS 7 and IAS 32 cannot be made in the financial statements.
vii) Repo Transactions
IFRS: When an entity sells a financial asset and simultanesly entered into an agreement to repurchase the
asset (or a similar asset) at a fixed price on a future date (repo or stock lending), the arrangement is
accounted for a deposit, and the underlying asset continues to be recognised in the entities financial
statements. These transaction will be treated as loan and the difference between selling price and
repurchase price will be treated as interest expenses.
Bangladesh Bank: As per DOS guildelines, when a bank sells a finanacial assets and simultaneously
enters into an agreement to repurchase the asset (or a similar asset) at a fixed price on a future date (repo
and stock lending), the agreement is accounted for a normal sales transactions and the finanacial assets are
dereocognised in the seller's book and a recognised in the buyers book.

| Annual Report 2024 111

 viii) Financial guarantees

IFRS: As per IAS 39, financial guarantees are contracts that require an entity to make specified payments to
reimburse the holder for a loss it incurs because a specified debtor fails to make payment when due in
accordance with the terms of a debt instrument. Financial guarantee liabilities are recognised initially at their
fair value, and the initial fair value is amortised over the life of the financial guarantee. The financial
guarantee liability is subsequently carried at the higher of this amortised amount and the present value of any
expected payment when a payment under the guarantee has become probable. Financial guarantees are
included within other liabilities.

Bangladesh Bank: As per BRPD Circular No. 14, financial guarantees such as letter of credit, letter of
guarantee and acceptance will be treated as off-balance sheet items. No liability is recognised for the
guarantee except the cash margin.

ix) Cash and cash equivalent

IFRS: Cash and cash equivalent items should be reported as cash item as per IAS 7.

Bangladesh Bank: Some cash and cash equivalent items such as money at call and on short notice,
treasury bills, Bangladesh Bank bills and prize bond are not shown as cash and cash equivalents. Money at
call and on short notice is presented on the face of the balance sheet, and treasury bills, prize bonds are
shown in investments.

x) Non-banking asset

IFRS: No indication of non-banking asset is found in any IFRS.

Bangladesh Bank: As per BRPD 14, there must exist a face item named non-banking asset.

xi) Cash flow statement

IFRS: The cash flow statement can be prepared using either the direct method or the indirect method. The
presentation is selected to present these cash flows in a manner that is most appropriate for the business or
industry. The method selected is applied consistently.

Bangladesh Bank: As per BRPD 14, cash flow is the mixture of direct and indirect methods.

xii) Balance with Bangladesh Bank (Cash Reserve Requirement)

IFRS: Balance with Bangladesh Bank should be treated as other asset as it is not available for use in day to
day operations as per IAS 7.

Bangladesh Bank: Balance with Bangladesh Bank is treated as cash and cash equivalents.

xiii) Presentation of intangible asset

IFRS: An intangible asset must be identified and recognised, and the disclosure must be given as per IAS 38.

Bangladesh Bank: There is no regulation for intangible assets in BRPD 14.

xiv) Off-balance sheet items

IFRS: There is no concept of off-balance sheet items in any IFRS; hence there is no requirement for
disclosure of off-balance sheet items on the face of the balance sheet.

Bangladesh Bank: As per BRPD 14, off balance sheet items (e.g. Letter of Credit, Letter of Guarantee,
Acceptance, etc.) must be disclosed separately on the face of the balance sheet.

xv) Loans and advances net of provision

IFRS: Loans and advances should be presented net of provision.

Bangladesh Bank: As per BRPD 14, provision on loans and advances are presented separately as liability
and can not be netted of against loans and advances.

112 | Annual Report 2024

2.2 Use of estimates and judgments

The preparation of the financial statements of the Bank in conformity with IFRSs requires management to
make judgments, estimates and assumptions that affect the application of accounting policies and the
reported amount of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting
estimates are recognized in the period in which the estimate is revised and in any future periods affected.
Information about significant areas of estimation uncertainty and critical judgments in applying accounting
policies that have the most significant effect on the amounts recognized and presented in the financial
statements of the Bank are included in following notes/statements:
a) Note 13.1, 13.2, 13.3, 13.4 & 13.5 Provision for loans and advances, off balance sheet exposure,
other assets, investments and balance with other banks & NBFIs.
b) Note 31 Depreciation
c) Note 35 Current tax liabilities
d) Note 36 Deferred tax asset
e) Liquidity statement

2.3 Foreign currency transaction

a) Foreign currency
Items included in the financial statements are measured using the currency of the primary economic
environment in which the Bank operates, i e. the functional currency. The financial statements of the Bank
are presented in Taka which is the Bank's functional and presentation currency.
b) Foreign currencies translation
Foreign currency transactions are converted into equivalent Taka using the ruling exchange rates on the
dates of respective transactions as per IAS-21"The Effects of Changes in Foreign Exchange Rates". Foreign
currency balances held in US Dollar are converted into Taka at weighted average rate of inter bank market
as determined by Bangladesh Bank on the closing date of every month. Balances held in foreign currencies
other than US Dollar are initially translated into equivalent US Dollar at buying rates taken from Ticker Plant
and then retranslated from US Dollar into equivalent Taka in the same specified above.

c) Commitments

Commitments for outstanding forward foreign exchange contracts disclosed in these financial statements are
translated at contracted rates. Contingent liabilities/commitments for letters of credit, letters of guarantee,
acceptance etc. denominated in foreign currencies are expressed in Taka terms at the rate of exchange
ruling on the date of giving commitment or taking liability.
d) Transaction gains and losses

Foreign exchange differences (rates at which transactions were initially recorded and the rate prevailing on
the reporting date/date of settlements) of the monetary items are recognized in the profit and loss account.

2.4 Statement of Cash flows

Statements of Cash flows has been prepared in accordance with International Accounting Standard (IAS) 7
"Statement of Cash Flows" and under the guideline of Bangladesh Bank BRPD Circular no.14 dated 25 June
2003. The Statement shows the structure of changes in cash and cash equivalents during the financial year.

| Annual Report 2024 113

 2.5 Liquidity Statement

The Liquidity Statement of assets and liabilities as on the reporting date has been prepared on residual
maturity term as per the following basis:
i) Balance with other Banks and financial institutions, money at call on short notice, etc. are on the basis
of their maturity term;
ii) Investments are on the basis of their respective maturity;
iii) Loans and advances are on the basis of their repayment schedule;
iv) Fixed assets are on the basis of their useful lives;
v) Other assets are on the basis of their realization/amortization;
vi) Borrowing from other banks, financial institutions & agents, etc. are as per their maturity/repayment terms;
vii) Deposits & other accounts are on the basis of their maturity term & past trend of withdrawal by the depositors; and
viii) Provisions and other liabilities are on the basis of their payment/adjustments schedule.

2.6 Statement of Changes in Equity

Statement of Changes in Equity has been prepared in accordance with IAS 1 “Presentation of Financial
Statements” and following the guidelines of Bangladesh Bank BRPD circular no.14 dated 25th June 2003.

2.7 Reporting period

These financial statements cover one calendar year from 01 January 2024 to 31 December 2024.
2.8 Offsetting

Financial assets and financial liabilities are offsetted and the net amount is reported in the balance sheet
when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle
on a net basis, or realize the asset and settle the liability simultaneously.

2.9 Assets and basis of their valuation

2.9.1 Cash and cash equivalents

Cash and cash equivalents include notes and coins on hand, unrestricted balances held with Bangladesh
Bank and highly liquid financial assets which are subject to insignificant risk of changes in their fair value, and
are used by the Bank management for its short term commitments.

2.9.2 Loans, advances and provisions

Loans and advances are stated in the balance sheet on gross basis. General provisions on unclassified loans
and contingent assets, specific provisions for classified loans and interest suspense account thereon are
shown under other liabilities. Provision against classified loans and advances is made on the basis of quarter
end review by the management and instructions contained in BRPD Circular No. 14 dated 23 September
2012, BRPD Circular No. 15 dated 23 September 2012, BRPD Circular No. 06 dated 29 May 2013, BRPD
Circular No. 05 dated 16 May 2019, BRPD Circular No. 03 dated 21 April 2019, BRPD Circular No. 16 dated
21 July 2020, BRPD Circular No. 17 dated 28 September 2020, BRPD Circular No. 56 dated 10 December
2020, BRPD Circulars no. 3 dated 31 January, 2021, no. 5 dated 24 March, 2021 and no, 51 dated 29
December 2021 and BRPD Circular letter No. 53 dated 30 December 2021. The rates for provisions are
stated below:
Particulars Provision Rate
General provision on
a. Consumer Financing (House Financing) 1%
b. Consumer Financing (Loans to Professional) 2%
c. Consumer Financing (Other than house finance and loans to professional) 2%
d. Small and Medium Enterprise Financing (SMEF) 0.25%
e. Short Term Agriculture & Micro Credit 1%
f. Loans to BHs/ MBs/ Sds against Shares etc 2%
g. All other Credit 1%
h. Special Mention Account 0.25%, 1%

114 | Annual Report 2024

 Particulars Provision Rate
Specific provision on
a. Substandard Loans and Advances
i. Short Term Agri Credit & Micro Credit 5%
ii. Other than Short Term Agri Credit & Micro Credit 5%, 20%
b. Doubtful Loans and Advances
i. Short Term Agri Credit & Micro Credit 5%
ii. Other than Short Term Agri Credit & Micro Credit 5%, 20%, 50%
c. Bad & Loss Loans and Advances 100%
2.9.3 Inves tments
Investments have been initially recognised at cost, including acquisition charges associated with the
investment. Premiums have been amortised and discount accredited, using the effective or historical
yield method. The investment in government securities (Treasury bills & bonds) are classified into Held
to Maturity (HTM) & Held for Trading (HFT) as per Bangladesh Bank’s guidelines contained in DOS
Circular Letter No. 05 dated 26 May 2008 as amended vide DOS Circular Letter No. 05 dated 28 January
2009, DOS Circular No. 06 dated 15 July 2010 & DOS Circular Letter No.01 dated 19 January 2014.
Same procedures are followed for investment in Bangladesh Bank Bills. Reclassification of HTM
securities into HFT securities are also done in compliance with Bangladesh Bank’s guidelines.

Held to Maturity (HTM)

Held-to-maturity investments are non-derivative assets with fixed or determinable payments and fixed
maturity that the entity has the positive intent and ability to hold to maturity, and which are not designated
at fair value through profit or loss or as available for sale. These are measured at amortized value at each
year end by taking into account any premium or discount on acquisition. Any increase/decrease in value
for amortization of such investments is transferred to revaluation reserve account and shown in the
statement of changes of equity. The gains on such security at the time of maturity of the security are
credited to income account.

Held for Trading (HFT)

The securities under this catagory are the securities acquired by the Bank with the intention to trade by
taking advantages of short term price/interest movement. The government securities (Treasury
Bills/Bangladesh Bank Bills) under "Held for Trading" category are amortized and measured at present
value on the basis of marking to market method weekly. The resulting gains & losses are transferred to
profit and loss account and then gains arising from marking to market are instantly transferred to other
reserve account from profit and loss account. The government securities (Treasury Bond) under "Held
for Trading" category are measured at present value on the basis of marking to market method weekly.
The resulting gains are transferred to other reserve account & losses are transferred to profit and loss
account. The gains/(losses) arising on maturity or sale of such securities are credited/(debited) to profit
and loss account.

Value of investments has been enumerated as follows:

Measurement after
Investment class Initial recognition initial recognition Recording of changes

Bangladesh Bank Bill/ Cost Amortised value Both increase and decrease in value are
Treasury Bill /Bond (HTM) transferred to revaluation reserve account.
Both gains & losses are transferred to profit and
Bangladesh Bank Bill/ Cost Market value loss account: gains arising from marking to
Treasury Bill (HFT) market are instantly transferred to other reserve
account from profit and loss account.
Increase in value to equity and decrease in
Treasury Bond (HFT) Cost Market value
value to Profit & Loss account.
Prize Bond Face value None None
Subordinated Bond Cost None None
Cost Lower of cost and Any loss is charged to Profit & Loss account.
Shares
market value Realized gain is recognized in Profit & Loss accounts.
Unrealized gain is not recognized in accounts.

| Annual Report 2024 115

 Investment in listed (quoted) securities
These securities are bought and held primarily for the purpose of selling them in future or hold for dividend
income. These are reported at cost. Unrealized gains are not recognized in the profit and loss account. But
provision for diminution in value of investment has been made properly.
Investment in unlisted (unquoted) securities
Subordinated Bond is reported at cost and shares are reported at lower of cost and market value.
Other Investments
Other investments like prize bond is also eligible for SLR, which is shown at face value.
Investment and related income
a) Income on investments other than shares is accounted for on accrual basis concept; and
b) Dividend income on investment in shares is accounted for in the year when right has been established.

2.9.4 Fixed assets

Recognition and measurement
"Items of fixed assets are measured at cost less accumulated depreciation as per IAS 16 ""Property, Plant and
Equipment"". Cost includes expenditures that are directly attributable to the acquisition of assets. Subsequent
costs is capitalized only when it is probable that the future economic benefits associated with the costs will flow
to the entity. Ongoing repairs and maintenance is expensed as incurred.
Purchased software that is integral to the functionality of the related equipment is capitalized as part of that
equipment."
Depreciation
Items of fixed assets are depreciated from the date that they are installed and are ready for use, or in respect of
internally constructed assets, from the date that the asset is completed and ready for use. Depreciation on the
fixed assets has been charged for the year at the following rates:
Category of fixed assets Rate Method of Depreciation
Building-Office 3% Reducing balance method
Furniture and Fixtures 10% Reducing balance method
Interior Decoration 10% Reducing balance method
Machinery and Equipment 20% Reducing balance method
Computer Hardware 20% Straight line method
Software 20% Straight line method
Motor Vehicles 25% Straight line method
Leasehold Assets 1% Straight line method over the lease hold period

For additions during the year, depreciation is charged for the remaining days of the year and for disposal
depreciation is charged up to the date of disposal.
On disposal of fixed assets, the cost and accumulated depreciation are eliminated from the fixed assets
schedule and gain or loss on such disposal is reflected in the profit and loss account, which is determined with
reference to the net book value of the assets and net sale proceeds.
2.9.5 Intangible assets
a) "An intangible asset is recognised if it is probable that the future economic benefits that are
attributable to the assets will flow to the entity and the cost of the asset can be measured reliably in
accordance with IAS 38: "Intangible Assets".

Initial cost comprises license fees paid at the time of purchase and other directly attributable expenditure
that are incurred in customizing the software for its intended use. Subsequent expenditure on intangible
asset is capitalised only when it increases the future economic benefits embodied in the specific assets to
which it relates. All other expenditure is expensed as incurred.

116 | Annual Report 2024

 b) Software represents the value of computer application software licensed for use of the Bank, other
than software applied to the operation software system of computers. Intangible assets are carried at
its cost, less accumulated amortization and any impairment losses.

c) Software is amortized using the straight line method over the estimated useful life of 5 (five) years
commencing from the date of the application software is available for use over the best estimate of its
useful economic life.

2.9.6 Other assets

Other assets include all balance sheet accounts not covered specifically in other areas of the supervisory
activity and such accounts may be quite insignificant in the overall financial condition of the Bank.

2.9.7 Receivables
Receivables are recognized when there is a contractual right to receive cash or another financial asset from
another entity.
2.9.8 Inventories
Inventories measured at the lower of cost and net realizable value.
2.9.9 Leasing

The Bank currently has lease/rent agreements at 72 (Seventy two) of its branch and 37 (Thirty seven)
Sub-branch offices and incurred Tk.23.16 crore as expense on the lease/rent payment. The leases/rents are
short term leases/rent with different tenure and cancellable contract. As such, the leases/rent are not treated
as Right of Use Assets (ROU). However, the effect of IFRS 16 is very immaterial compared to the volume of
whole finanacial statements. All contracts are cancellable contract and the effect of lease is not material.
2.9.10 Non-banking assets

The bank has not acquired any non-banking asstets in exchange for loan during the period of this financial
statements. But the Bank acquired non-banking asstets of land valuing at Tk. 82,19,490 and building valuing
at Tk. 1,56,39,000, Total Tk. 2,38,58,490 in exchange for loan in 2019.
2.9.11 Reconciliation of inter-bank and inter-branch account

Accounts with regard to inter-bank (in Bangladesh and outside Bangladesh) are reconciled regularly and there
are no material differences which may affect the financial statements significantly.
Un-reconciled entries/balances in the case of inter-branch transactions as on the reporting date are not material.
2.10 Share capital

Ordinary shares are classified as equity when there is no contractual obligation to transfer cash or other
financial assets.
2.11 Statutory reserve

Bank Companies Act, 1991 requires the Bank to transfer 20% of its current year's profit before tax to reserve
until such reserve equals to its paid up capital and share premium account.

2.12 Deposits and other accounts

Deposits by customers & banks are recognized when the Bank enters into contractual provisions of
arrangements with the counterparties, which is generally on trade/contract date, & initially measured at the
consideration received.
2.13 Borrowings from other banks, financial institutions and agents

Borrowed funds include call money deposits, borrowings, re-finance borrowings and other term borrowings
from banks, Bangladesh Bank, Financial Institutions & other Organizations. They are stated in the balance
sheet at amounts payable. Interest paid / payable on these borrowings is charged to the income statements.

| Annual Report 2024 117

2.14 Basis for valuation of liabilities and provisions
2.14.1 Provision for current taxation
Provision for current income tax has been made as per prescribed rate in the Finance Ordinance, 2024 on the
gross receipts/accounting profit made by the Bank after considering some of the add backs to income and
disallowances of expenditure as per income tax laws in compliance with IAS-12 " Income Taxes".
2.14.2 Provision for deferred taxation

"Deferred tax is recognized in compliance with IAS 12 ""Income Taxes"" and BRPD Circular no. 11 dated 12
December 2011, providing for temporary differences between the carrying amounts of assets and liabilities for
financial reporting purposes and amounts used for taxation purposes. Deferred tax is measured at the tax
rates that are expected to be applied to the temporary differences when they reverse, based on the laws that
have been enacted or substantively enacted by the date of balance sheet. Deferred tax assets and liabilities
are offset as there is a legally enforceable right to offset current tax liabilities and assets, and they relate to
income taxes levied by the same tax authority on the same taxable entity.
A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available
against which the deductible temporary difference can be utilized. Deferred tax assets are reviewed at each
date of balance sheet and are reduced to the extent that it is no longer probable that the related tax benefit will
be realized."

2.14.3 Benefits to the employees

The retirement benefits accrued for the employees of the Bank as on reporting date have been accounted for
in accordance with the provisions of International Accounting Standard-19, "Employee Benefit". Bases of
enumerating the retirement benefit schemes operated by the Bank are outlined below:
a) Provident Fund

Provident fund benefits are given to the permanent employees of the Bank in accordance with Bank's service
rules. Accordingly approved trust deed and provident fund rules were in [Link] Commissioner of Income
Tax, Taxes Zone - 8, Dhaka has approved the Provident Fund as a recognized provident fund within the
meaning of section 2(52), read with the provisions of part - B of the First Schedule of Income Tax Ordinance
1984. The recognition took effect from 30 September 1995. The Fund is operated by a Board of Trustees
consisting of seven members. Usually all confirmed employees of the Bank are contributing 10%-25% of their
basic salary as subscription to the Fund. The Bank also contributes 8.33% of basic salary of each member.
Interest on the provident fund balance is credited to the members' account on yearly basis.

b) Gratuity Fund

The Bank made provision for gratuity fund at discretion of the management (with the appproved of BoD) to
provide an employee with financial benefit on his ceasing the Bank's service or in the event of his death to his
legal heirs/nominees or successors, in respect of which provision is made annually covering all its permanent
eligible employees who have completed required years of service.

c) Benevolent Fund
The benevolent fund is subscribed by monthly contribution of the employees. The Bank also contributes to the
fund @ 0.5% of profit or a lump sum at the end of the year. The fund is established to sanction grant in the
event of death on duty or permanent disabilities of the employees & to provide financial assistance to the
employees & dependants.
d) Superannuation Fund

The Bank operates a contributory superannuation fund to give benefit to employees at the time of retirement
or to his/her family upon his/her death. Employees are contributing to the fund monthly and the Bank also
contributes a lump sum amount from the profit at the end of each year.
e) Welfare Fund
The Bank has been maintaining a welfare fund created from profit. This fund is for the utilization of various
social activities as part of corporate social responsibility of the Bank.

118 | Annual Report 2024

2.14.4 Provision for liabilities
A provision is recognized in the balance sheet when the Bank has a legal or constructive obligation as a result
of a past event and it is probable that an outflow of economic benefit will be required to settle the obligations,
in accordance with the IAS 37 "Provisions, Contingent Liabilities and Contingent Assets".
2.14.5 Provision for Off-balance sheet exposures
Off-balance sheet items have been disclosed under contingent liabilities and other commitments as per
Bangladesh Bank guidelines. In accordance with BRPD circular no. 14 dated 23 September 2012, general
provision @ 1% has been made on the outstanding balances of Off-Balance Sheet exposure of the Bank as
at 31 December 2024. Provision is made on the total exposure and amount of cash margin where value of
eligible collateral is not deducted while computing Off-Balance sheet exposure.
2.14.6 Provision for nos tro accounts
As per instructions contained in the circular letter no. FEPD (FEMO)/01/2005-677 dated 13 Sep 2005 issued
by Foreign Exchange Policy Department of Bangladesh Bank, Banks are required to make provision regarding
the un-reconciled debit balance of nostro account for more than 3 months as on the reporting date in these
financials. Since there is no unreconciled entries which are outstanding more than 3 months then Bank's are
not required to make provision.
2.15 Revenue recognition
2.15.1 Interest income
In terms of the provisions of the IAS-18 "Revenue", the interest income is recognized on accrual basis. Interest
on loans and advances ceases to be taken into income when such advances are classified. It is then kept in
interest suspense. After the loans is classified as bad and loss, interest ceases to apply in the respective loan
account and recorded in the system as unapplied interest. Interest on classified advances is accounted for on
a cash receipt basis as per Bangladesh Bank guidelines.

2.15.2 Investment income

Interest income on investments is recognized on accrual basis. Capital gain is recognized when it is realized.

2.15.3 Fees and commission income

Fees, Commission and Exchange Income on services provided by the Bank are recognized as and when the
related services are performed. Commission charged to customers on letter of credit, letter of guarantee etc.
are credited to Income at the time of effecting the transactions.
2.15.4 Dividend income on shares
Dividend income from investment in shares is recognized when the Bank's right to receive dividend is
established as per IAS 18 "Revenue".
2.15.5 Interest paid and other expenses
In terms of the provisions of IAS-1 "Presentation of Financial Statements" interest and other expenses are
recognized on accrual basis.
2.16 Risk management
The risk of BASIC Bank Limited is defined as the possibility of losses, financial or otherwise. The risk
management of the Bank covers core risk areas of banking viz. credit risk; liquidity risk; market risk that
includes foreign exchange risk, interest rate risk, equity risk; ICT risk; operational risk & reputation risk arising
from money laundering incidences. The prime objective of the risk management is that the Bank evaluates &
takes well calculative business risks & thereby safeguards the Bank’s capital, its financial resources &
profitability from various business risks through its own measures & through implementing Bangladesh Bank's
guidelines & following some best practices as under:

| Annual Report 2024 119

 a) Credit risk

It arises mainly from lending, trade finance, leasing and treasury businesses. It can be described as the
potential loss arising from the failure of a counter party to perform as per contractual agreement with the Bank.
The failure may result from unwillingness of the counterparty or deterioration in their financial condition.
The Bank has 04 (four) Circle Offices (Circle Office-1, 2, 3 & 4) and several credit divisions focused on different
areas/sectors of the economy and entrusted with the duties of Credit Appraisal to assess the merit of loan
[Link] Bank ensures strict management of credit quality by analyzing/assessing borrower risk on
historical repayment performance of the borrower, historical and projected financial statements, industry
outlook, collateral coverage of the proposed credit facility, market reputation of the borrower and any other
relevant aspects. To manage its credit risk at a tolerable level, the Bank takes an Annual Credit Budget and
subsequently the amount of loan to each sector is allocated on yearly basis. Budgeted allocation to each
sector is monitored or adjusted periodically on the basis of national economic trends, business or sector
viability, the Bank's credit position and profitability, the central bank's regulations and guidelines, availability of
investable fund and so on. Moreover, total aggregate loans and advances of branches are allocated and
controlled on the basis of the credit budget. The Bank also has a Credit Pre-Audit Cell (CPAC) that oversees
and ensures proper documentation before approval pertaining to the credit facilities above a threashold amount.

The Bank takes its lending decision based on the credit risk assessment report by the appraisal team. In
determining Single borrower/Large loan limit, the instructions of Bangladesh Bank are strictly followed.
Internal audit is conducted at periodical intervals to ensure compliance of Bank’s & Regulatory polices. Loans
are classified as per Bangladesh Bank guidelines. Concentration of single borrower/large loan limit is shown
in the notes to the financial statements.
b) Liquidity risk

The object of liquidity risk management is to ensure that all foreseeable funding commitments and deposit
withdrawals can be met when due. To this end, the Bank is maintaining a diversified and stable funding base
comprising of core retail and corporate deposits and institutional balance. Management of liquidity and funding is
carried out by Treasury and Capital Market Services Division under approved [Link] Front Office is
supported by a very structured Back Office. A Mid Office Division has also been created as per requirement of
Bangladesh Bank. The Liquidity management is monitored by Asset Liability Management Committee (ALCO) on a
regular basis. A written contingency plan is in place to manage extreme situation.
c) Market risk

The exposure of market risk of the Bank is restricted to foreign exchange risk, interest rate risk & equity risk.

Foreign exchange risk

Foreign exchange risk is defined as the potential change in earnings due to change in market prices. The foreign
exchange risk of the Bank is minimal as all the transactions are carried out on behalf of the customers against
underlying L/C commitments and other remittance requirements. No foreign exchange dealing on Bank's account was
conducted during the year.
Treasury Division independently conducts the transactions, Back Office of Treasury is responsible for
verification of the deals & passing of their entries in the books of account and Mid Office of Treasury monitors
dealer's adherence to various internal, regulatory and counter party limits. All foreign exchange transactions are
revalued at Mark-to-Market rate as determined by the bank as mid rate on daily basis & the mid rate is being
published by the Treasury Division of the Bank as per approved policy. All Nostro accounts are reconciled on a
monthly basis & outstanding entry beyond 30 days is reviewed by the management for its settlement. The
position maintained by the Bank at the end of day was within the stipulated limit prescribed by Bangladesh Bank

120 | Annual Report 2024

Interes t rate risk
Interest rate risk may arise either from trading portfolio or non-trading portfolio. The short-term movement in
interest rate is negligible or nil. Interest rate risk of non-trading business arises from mismatches between future
yield of an asset & its funding cost. Asset Liability Management Committee monitors interest rate movement on
a regular basis.
Equity risk

Equity risk arises from fall in market price of shares which are regularly monitored by the management. The
management keep required provision as per Bangladesh Bank guidelines when the cost price exist under the
market price.

d) Reputation risk arising from money laundering incidences

Money Laundering has significant economic and social consequences, especially for developing countries and
emerging markets. The adverse consequences of money laundering are reputational, operational, legal and
concentration risks and include loss of profitable business, liquidity problems through withdrawals of funds,
termination of correspondent banking facilities, loan losses etc.

An Anti Money Laundering/Combating the Financing of Terrorism (AML/CFT) program is an essential

component of a bank’s compliance regime. The primary goal of an AML/CFT program is to protect the bank
against money laundering, terrorist financing and other financial crimes and to ensure that the bank is in full
compliance with relevant laws and regulations. The management of BASIC Bank Limited has taken prevention
of money laundering and terrorist financing as part of the Bank’s risk management strategies. 'Anti Money
Laundering (AML) and Combating the Financing of Terrorism (CFT) Policy’ of the Bank has been revised and
subsequently approved by the Board of Directors of the Bank in its 494th meeting held on 05 March 2020.

The Bank established a separate division namely Anti-Money Laundering Division (AMLD) for mitigating Money
Laundering and Terrorist Financing related risks. One of the General Managers is acting as the Chief
Anti-Money Laundering Compliance Officer (CAMLCO) of the Bank. In addition, Central Compliance Committee
(CCC) is working to develop and review institutional strategy and program for preventing money laundering and
terrorist financing. AMLD is performing as the secretariat of Central Compliance Committee. AMLD is
continuously monitoring and reviewing overall Bank’s compliance to mitigate ML/TF risks. Besides, a senior
level executive from each Branch is working as a Branch Anti-Money Laundering Compliance Officer
(BAMLCO). Audit and Inspection Division conducts audit for an effective Anti Money Laundering System Check
throughout the year. Moreover, members of CCC and employees of AMLD pay visit to Branches to supervise
the AML procedures and functions at branch level as and when required.

Sound Know Your Customer (KYC) and Transaction Profile (TP) are in place to recognize the risk associated
with accounts. Cross-border transactions (both incoming and outgoing messages) are screened against UN,
OFAC, EU and other Sanction lists through SWIFT Screening Software. Moreover, the Bank has its own AML
Screening System for screening customer against UN Sanction List, Domestic Sanction List and Private List
before opening an account and making payment of foreign remittance (through Bank or Exchange Houses).

The Bank is providing CTR data through goAML web portal of Bangladesh Financial Intelligence Unit (BFIU) on
regular basis. It is the requirement of BFIU to report cash transaction of BDT 10 Lac and above in a single day
in a single account and submit STR/SAR to BFIU as and when detected without delay. Bank has taken initiative
to aware the officials about the negative effect of Hundi, Howla, Crypto Currency, gaming, betting etc. BASIC
Bank Training Institute arranges training programs on AML & CFT throughout the year to develop awareness
and skill for mitigating money laundering and terrorist financing risks.

e) Operational risk
Operational risk may arise from error and fraud due to lack of internal control and compliance. Management
through Internal Control and Compliance Division controls operational procedure of the Bank. Audit and
Inspection Division undertakes periodical and special audit of the branches and divisions at the Head Office for
review of the operation and compliance of statutory requirements. Compliance Division ensures compliance with
regulatory requirement and Monitoring Division commits monitoring, reviewing and examining the activities of
branches/ divisions. The Audit Committee of the Board subsequently reviews the reports of the Audit and
Inspection Division, Compliance Division and Monitoring Division.

| Annual Report 2024 121

 f) Asset Liability Management Risk
Asset Liability Management (ALM) is a risk management technique designed to earn an adequate return while
maintaining a comfortable surplus of assets beyond liabilities. The scope of ALM function can be described as
liquidity risk management, management of market risks, trading risk management, funding and capital planning,
profit planning, growth projection, etc.

The ALM committee usually makes decisions on financial direction of the Bank. The ALCO's goal is to manage
the sources and uses of funds, identify balance sheet management issues like balance sheet gap, interest rate
gap etc. ALCO also reviews liquidity contingency plan and implements asset and liability pricing strategy for the
Bank. The bank revised its asset liability management policy in line with Bangladesh Bank guideline. The Board
of Directors of the Bank approved the revised policy in September 2017, which is followed meticulously.
g) ICT Risk Management

ICT risk refers to the potential of ensuing harmful effects that an organization may suffer from intentional or
unintentional threats to information and information technology systems. Managing ICT risk is part of running
regular operation of the Bank now a days. Failure to manage ICT risk may lead to serious security breaches,
financial losses & even business discontinuity. Hence, it is imperative that there should be a mechanism to
identify, assess and mitigate ICT risk. BASIC Bank Limited, with the approval of the Board, has adopted an ICT
policy in compliance with ICT security guidelines of Bangladesh Bank covering various aspects of ICT risk
management. Based on the policy the Bank has taken necessary measures for mitigating ICT risk and
impending hazards through implementing proper strategies and processes of identifying, appreciating,
analyzing and assessing the same. The Bank has also taken necessary initiatives which would make a positive
impact on improving ICT segment of core risks management. All observations by Bangladesh Bank, related to
ICT segment of core risks management are being complied in time. Necessary measures are also being taken
to minimize manual intervention, as much as possible, by implementing automatic handling of network level and
server level failure. Moreover, necessary initiatives are also being taken to comply with the ICT related issues
mentioned in the circular of Bangladesh Bank regarding Self-Assessment of Anti Fraud Internal Controls.

Internal ICT audit by Audit and Inspection Division of Head Office in different branches of the Bank are being
carried out regularly. The Bank has been carrying out the job of Vulnerability Assessment (VA), Penetration Test
(PT) by the external experts having sufficient expertise on ICT securities. The Bank has taken necessary steps
to enhance the securities of the network, database and e-mail systems of the Bank. An independent ICT
Security Unit comprising some ICT security experts has already been established within the Bank for monitoring,
identifying and overseeing all kinds of potential ICT risks and threats. Moreover, the Bank has taken necessary
initiatives to protect its ICT System from unauthorized Network Access, Denial of Service Attack, Zero-Day Virus
Attack, Advanced Persistent Threat (APT) Attack, Malware Attack, Spyware Attack etc. The Bank is also
carrying out training programs on importance an awareness of ICT security for its employees to prevent from
different malicious activities.
h) Internal Control and Compliance
The primary objectives of Internal Control and Compliance are to help the Bank perform better through the
effective use of its resources, identify its weaknesses, take appropriate measures to overcome the same and
ensure compliance with regulatory framework including applicable laws and regulations. Internal Control and
Compliance of the Bank includes three fold functions viz. Internal Audit & Inspection of Branches and Divisions
of Head Office, Monitoring of operational activity of the Bank to assess the risk of individual Branches/Divisions
and Compliance of Internal Audit & Inspection Reports of Branches & Divisions and Bangladesh Bank Audit
Reports including Bangladesh Bank Special Audit Reports on Core Risks & Cash Incentive and Government
Commercial Audit Reports. These functions are being carried out by 03 (three) divisions namely Audit &
Inspection Division, Audit Findings Monitoring Division and Compliance Division. The Audit Committee of the
Board subsequently reviews the major lapses identified by Audit and Inspection Division as well as compliance
of these lapses. The Audit Committee also reviews periodic financial statements of the Bank, Bangladesh Bank
Inspection Reports, Commercial Audit Reports and other issues indicated in the Bangladesh Bank Guidelines.
Necessary steps/measures are taken on the basis of observation & suggestion of the Committee.

122 | Annual Report 2024

 i) Fraud & Forgeries

The term ‘Fraud’ commonly includes activities such as theft, corruption, conspiracy, embezzlement, money
laundering, bribery & extortion. Fraud risk is one of the components of Operational risk. Operational risk
focuses on the risks associated with errors or events in transaction processing or other operations. Bank is
absolutely committed to maintain an honest, open & well intentioned atmosphere within the organization.
Bank is also committed to prevent fraud and detection of fraud. Fraud & Forgery has emerged as one of the
major threats in banking sector with regular development of avenues by the fraudsters.
In the year 2017, the bank has started to further develop the Risk & Fraud awareness culture among the
employees & reduce the likelihood of fraud occurring in the Bank. In 2024, Audit & Inspection Division (AID)
of the Bank has conducted 72 (Seventy Two) Branches and 36 (Thirty Six) Sub-branches including 16
(Sixteen) Authorized Dealer (AD) Branches of Foreign Exchange, 09 (Nine) Special inspections at different
Branches and 20 (Twenty) regular Inspections at different Divisions and 04 (Four) Circle(s) of Head Office,
where allout efforts were taken by the officials of AID to detect fraud & forgeries and to find out potential risk factors.
In line with the instruction of Bangladesh Bank , apart from regular audit activities AID has to conduct an audit
namely “On-line Foreign Exchange Monitoring System” on 16 (Sixteen) AD branches and 04 (Four) divisions
of Head Office of the bank with a view to reporting the findings to Bangladesh Bank.

In connection with dealing the situation and ensuring safety checking measures against fraud & forgery related
issues, Monitoring Division of the Bank quarterly prepare Self Assessment of Anti-Fraud Internal Controls
report and submit the same to Bangladesh Bank with joint signature of the Managing Director & the Chairman
of Audit Committee of the Board of Directors of the Bank.

2.17 Earnings per share (EPS)

The Bank presents basic and diluted (when dilution is applicable) earnings per share (EPS) for its ordinary
shares in accordance with BAS 33 "Earnings per Share". Basic EPS is calculated by dividing the profit or loss
attributable to ordinary shareholders of the Bank with the weighted average number of ordinary shares
outstanding during the period, adjusted for the effect of change in number of shares for bonus issue, share split
and reverse split. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders
and the weighted average number of ordinary shares outstanding, for the effects of all dilutive potential
ordinary shares. Hence Diluted EPS has been calculated.
2.18 Events after the reporting period

All material events after the reporting period that provide additional information about the Bank's position at the
balance sheet date are reflected in the financial statements as per IAS 10 "Events after the Reporting Period".
Events after the reporting period that are not adjusting events are disclosed in the notes when material.
2.19 Directors' responsibility on statement
The Board of Directors takes the responsibility for the preparation and presentation of these financial statements.
Memorandum items
Memorandum items are maintained to have control over all items of importance and for such transactions
where the Bank has only a business responsibility and no legal commitment. Stock of travelers cheques,
savings certificates, wage earners bonds and other fall under the memorandum items.
Capital Expenditure Commitment
There was no capital expenditure contracted but incurred or provided for at 31 December 2024. Besides, there
was no material capital expenditure authorized by the Board but not contracted for at 31 December 2024.

| Annual Report 2024 123

2.20 Related party disclosures

As per IAS 24 “Related Party Disclosures”, a related party is a person or entity that is related to the entity
(i.e. BASIC Bank Limited) that is preparing its financial statements. Related party transaction is a transfer of
resources, services, or obligations between a reporting entity and a related party, regardless of whether a price
is charged as per IAS 24.

Related Parties include the Bank's Directors, key management personnel, associates, companies under
common directorship etc. as per IAS 24 “Related Party Disclosures”. All transactions involving related parties
arising in the normal course of business are conducted at arm’s length at normal commercial rates on the
same terms and conditions as third party transactions using valuation modes as admissible.

2.21 Board of Directors as on 31 December 2024:

Name Status Other Position

Helal Ahmed Chowdhury Chairman Ex-Independent Director, Bank Asia PLC
Ex-Chairman, BA Express USA inc. (Bank Asia PLC
subsidiary)
Ex-Managing Director & CEO, Pubali Bank Limited

Dr. Nahid Hossain Director Additional Secretary, Goververnment of the People's

Republic of Bangladesh

Dr. Md. Abdul Khaleque Khan Director Managing Director & CEO (Retired), Bangladesh
(Freedom Fighter) Commerce Bank Limited

Mr. Shamim Ahammed Director Joint Secretary, Goververnment of the People's

Republic of Bangladesh

Mr. Md. M. Latif Bhuiyan Director General Manager (Retired), Bangladesh Development
Bank Limited

Mr. Md. Rafiqul Islam Director Joint Secretary (Retired), Goververnment of the
People's Republic of Bangladesh
Mr. Md. Quamruzzaman Khan Director Managing Director & CEO, BASIC Bank Limited

The Board of Directors conducted 28 (twenty eight) meetings during the year.

2.22 Audit Committee as on 31 December 2024:

Members of the Audit Committee of the Board of Directors:
Name Status with the Committee Educational Qualification

Dr. Nahid Hossain Chairman [Link] (Hons.), [Link] (Finance & Banking),
Master of Economics (Japan), Doctor of Engineering
(Environment & Life Engineering, Japan)

"Dr. Md. Abdul Khaleque Khan Member Ph.D; MSS (Economics), Dhaka University.
(Freedom Fighter)"

Mr. Md. M. Latif Bhuiyan Member MBA (Finance & MIS), University of New Orleans,
USA, [Link] (Accounting), University of Dhaka.

Audit Committee conducted 07 (seven) meetings during the year.

124 | Annual Report 2024

2.23 Risk Management Committee as on 31 December 2024:
Name Status Educational Qualification
Dr. Md. Abdul Khaleque Khan, F.F. Chairman Ph.D; MSS (Economics), Dhaka University.
[Link] (Hons.), [Link] (Finance & Banking), Master of
Dr. Nahid Hossain Member Economics (Japan), Doctor of Engineering (Environment & Life
Engineering, Japan)
Master of Business Administration, University of West London,
Mr. Shamim Ahammed Member UK; Bachelor of Urban and Rural Planning, Khulna University,
Bangladesh.
MBA (Finance & MIS), University of New Orleans, USA, [Link]
Mr. Md. M. Latif Bhuiyan Member
(Accounting), University of Dhaka.
Mr. Md. Rafiqul Islam Member M. Com (Management), University of Chittagong.
Risk Management Committee conducted 11 (eleven) meetings during the year.

2.24 Executive Committee as on 31 December 2023:

Name Status Educational Qualification
Mr. Md. Rafiqul Islam Chairman M. Com (Management), University of Chittagong

Helal Ahmed Chowdhury Member MSS (Political Science), University of Chittagong

Mr. Shamim Ahammed Member Master of Business Administration, University of West London,
UK; Bachelor of Urban and Rural Planning, Khulna University,
Bangladesh.
Executive Committee conducted 06 (six) meetings during the year.

2.25 Head Office Management Committee (MANCOM) as on 31 December 2024:

SL No. Name Designation Status with the Committee

1 Mr. Abu Md. Mofazzal Deputy Managing Director Chairman

2 Mr. Md. Ismail General Manager Member
3 Mr. Md. Momenul Hoque General Manager Member
4 Mr. Md. Nashir Uddin General Manager Member
5 Mr. Sumit Ranjan Nath General Manager Member
6 Mr. Md. Shafiul Alam General Manager Member
7 Mr. Md. Hasan Imam General Manager Member
8 Mr. Dulon Kanti Chakraborty General Manager Member
9 Mr. Md. Ghulam Sayeed Khan General Manager Member
10 Mr. Nurur Rahman Chowdhury Deputy General Manager, HRD Member Secretary

The Head Office Management Committee conducted 05 (Five) meetings during the year.

| Annual Report 2024 125

 2.26 Compliance report on International Accounting Standards (IAS) & International Financial Reporting
Standards (IFRS)
The Institute of Chartered Accountants of Bangladesh (ICAB) is the sole authority for adoption of
International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). While
preparing the financial statements, BASIC Bank applied all the applicable IAS and IFRS as adopted by ICAB.
Details are given below:

Name of the IAS IAS No. Status

Presentation of Financial Statements 1 Applied*
Inventories 2 N/A
Statement of Cash Flows 7 Applied*
Accounting policies. Changes in accounting Estimates and Errors 8 Applied
Events after the Reporting Period 10 Applied
Income Taxes 12 Applied
Property, Plant and Equipment 16 Applied
Employees Benefits 19 Applied
Accounting for Government Grants and Disclosure of Government Assistance 20 N/A
The Effects of Changes in Foreign Exchange Rates 21 Applied
Borrowing Costs 23 N/A
Related Party Disclosures 24 Applied
Separate Financial Statements 27 Applied
Investment in Associates & joint venture 28 Applied
Financial Instruments: Presentation 32 Applied
Earning Per Share 33 Applied
Interim Financial Reporting 34 Applied*
Impairment of Assets 36 Applied
Provision, Contingent Liabilities and Contingent Assets 37 Applied
Intangible Assets 38 Applied
Investment Property 40 N/A
Agriculture 41 N/A
Name of the IFRS IFRS No. Status
First-time Adoption of Bangladesh Financial Reporting Standards 1 N/A
Share-Based Payment 2 N/A
Business Combinations 3 Applied
Insurance Contracts 4 N/A
Non-Current Assets Held for Sale and Discontinued Operations 5 N/A
Exploration for and Evaluation of Mineral Resources 6 N/A
Financial Instrument: Disclosures 7 Applied*
Operating Segments 8 Applied
Financial Instruments 9 Applied*
Disclosure of Interests in Other Entities 12 Applied
Fair Value Measurements 13 Applied
Regulatory Deferral Accounts 14 N/A
Revenue from Contracts with Customers 15 Applied
Leases 16 Applied
Insurance Contracts 17 N/A
* Subject to departure described in note 2.1

126 | Annual Report 2024

2.27 Corporate Social Responsibilities (CSR)

Bank authority is very much concerned about responsibility to the society people. With industrialization, the
impacts of business on society and the environment assumed an entirely new dimension. For this, Corporate
Social Responsibility has become a criterion of socially lawful business endeavour and the acceptance of it
is growing day by day. Countries of developed economy have taken the idea of "Social Responsibility".
BASIC Bank Limited has also realized its responsibilities to the society and very much willing to contribute to
the improvement of the society within the framework of Bangladesh Bank guidelines.

2.28 Regulatory and lega l compliance

The Bank complied with the requirement of the following regulatory and legal acts and rules:

i. The Bank Company Act, 1991 (Amended to Date)

ii. The Companies Act 1994
iii. Rules, regulations and circulars issued by the Bangladesh Bank from time to time
iv. The Income Tax Ordinance 1984 and Rules (Amended to Date)
v. The Value Added Tax and Suplementary Duty Act, 2016
vi. The Stamp Act-1899
vii. The Customs Act-1969
viii. The Money Laundering Prevention Act, 2012
ix. The Anti Terrorism (Amendment) Act, 2013
x. Labor Act, 2006 (amended in 2013) and Labor Rule, 2015

2.29 Approval of financial statements

The financial statements were approved by the Board of Directors on 30 April 2024.

2.30 General

a) These financial statements are presented in Taka, which is the Bank's functional currency. Figures
appearing in these financial statements have been rounded off to the nearest Taka.

b) The expenses, irrespective of capital or revenue nature, accrued/due but not paid have been provided
for in the books of the Bank.

c) Figures of previous year have been rearranged whenever necessary to conform to current years
presentation.

| Annual Report 2024 127

 Amount of Taka
31.12.2024 31.12.2023
3. Cash
Cash in hand (including foreign currencies) Note 3.1 1,367,500,171 1,141,660,877
Balance with Bangladesh Bank & its agent bank(s) Note 3.2 7,641,058,162 7 8,002,173,786
Total 9,008,558,333 9,143,834,663

3.1 Cash in Hand (including foreign currencies)

In Local Currency (3.1.1) 1,366,217,727 1,140,010,333
In Foreign Currencies 1,282,444 1,650,544
Total 1,367,500,171 1,141,660,877

3.1.1 In Local Currency

In Hand 1,315,833,227 1,067,900,733
In ATM 50,384,500 72,109,600
1,366,217,727 1,140,010,333

3.2 Balance with Bangladesh Bank & its agent bank(s)

In Local Currency Note 3.2.1 6,324,566,090 6,923,816,136
In Foreign Currencies Note 3.2.2 1,316,492,072 1,078,357,650
7,641,058,162 8,002,173,786

3.2.1 In Local Currency

Bangladesh Bank 6,213,546,283 6,818,281,888
Sonali Bank (acting as agent of Bangladesh Bank) 111,019,807 105,534,248
6,324,566,090 6,923,816,136

3.2.2 In Foreign Currencies

Bangladesh Bank - EURO 8,345,124 7,765,127
Bangladesh Bank - GBP 4,525,760 5,770,519
Bangladesh Bank - YEN 298,699 306,039
Bangladesh Bank - US$ 1,303,322,489 1,064,515,965
1,316,492,072 1,078,357,650
6,206,026,894 6,889,902,634

[Link] Balance with Bangladesh Bank as per DB -5

Reason of Difference between balance with Bangladesh Bank and DB-5:
The reason of difference between balance with Bangladesh Bank and DB-5 is that Tk. 57.00 lac deducted from actual Bangladesh
Bank (BDT) A/C Balance which is lien amount against TT discounting facilities and remain some unreconcile entris with our book.

3.3 Statutory Deposits

Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) have been calculated and maintained as per Section 33 of the Bank
Companies Act 1991 and BRPD Circular No. 11 and 12 both dated August 25, 2005, MPD Circular No. 2 dated December 10, 2013 and
MPD Circular No. 03 dated April 09, 2020.
The Cash Reserve Requirement (CRR) on the Bank's time and demand liabilities at the rate of 4.00% has been calculated and
maintained with Bangladesh Bank in current account and 13.00% Statutory Liquidity Ratio (SLR) has been calculated and maintained
with excess CRR balance, all kinds of approved govt. securities, cash in hand including FC balance with Bangladesh Bank and balance
with Sonali Bank (as agent of Bangladesh Bank). Both the reserves maintained by the Bank are excess in the year 2023 and in shortfall
in the year 2024.

128 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023
3.3.1 Cash Reserve Ratio (CRR)
Required Reserve (4.00% of Average Demand & Time Liabilities) 5,372,102,960 6,152,289,667
Actual reserve maintained 2,862,972,305 6,675,876,612
Surplus/(Deficit) (2,509,130,655) 523,586,945
Required (%) 4.00% 4.00%
Maintained (%) 2.13% 4.34%

3.3.2 Statutory Liquidity Reserve (SLR)

Required Reserve (13.00% of Average Demand & Time Liabilities) 17,459,334,621 19,994,941,416
Actual reserve maintained 6,561,514,466 20,912,053,965
Surplus/(Deficit) (10,897,820,155) 917,112,549
Required (%) 13.00% 13.00%
Maintained (%) 4.89% 13.60%

4. Balance with other banks & financial institutions

In Bangladesh- local currency Note 4.1 598,410,620 557,577,637
Outside Bangladesh- NOSTRO & FC Term Placement Note 4.2 559,073,805 1,226,664,038
1,157,484,425 1,784,241,675

4.1 In Bangladesh

4.1.1 Current Accounts

Sonali Bank Ltd. 54,810,085 7,020,629
Agrani Bank Ltd. 36,013,060 28,445,612
Janata Bank Ltd. 19,590,431 31,660,919
Rupali Bank Ltd. 7,675,757 9,063,339
Bangladesh Krishi Bank 34,896 50,770
Agrani Bank Ltd. (Agrani Exchange, Singapore) 2,216 3,044
NCC Bank Ltd. 10,860,306 9,274,695
128,986,751 85,519,008

4.1.2 Short Notice Deposit Accounts

Sonali Bank Ltd. 1,029,807 49,335
Agrani Bank Ltd. 3,444 5,000
Janata Bank 17,446,455 19,922,124
Rupali Bank Ltd. 11,539,054 11,762,882
Trust Bank Ltd. 9,316,562 10,146,475
The Premier Bank Ltd. - 3,921
39,335,322 41,889,737

4.1.3 Other Deposit

Receivable from ICB Islami Bank 130,088,547 130,168,892

4.1.4 Fixed Deposit Accounts

i) FDR/Placement with Banks - -
ii) FDR/Placement with Non-Bank Financial Institutions (NBFIs):
Bangladesh Industrial Finance Company (BIFC) Limited 300,000,000 300,000,000
300,000,000 300,000,000
Total 598,410,620 557,577,637

| Annual Report 2024 129

 Amount of Taka
31.12.2024 31.12.2023
4.2 Outside Bangladesh (Nostro & FC Term Placement)
Interest bearing accounts Note 4.2.1 320,173,805 569,364,038
Term Placements Note 4.2.2 238,900,000 657,300,000
559,073,805 1,226,664,038
4.2.1 Interest-bearing Accounts
Sonali Bank Kolkata-EURO 585,930 572,699
Sonali Bank London (UKP)-GBP 151,710 723,363
Bank of Tokyo Mitsubishi Japan-JPY 9,151,541 490,195
Arif Habib Bank, Karachi-USD 131,783 120,861
Mashreq Bank India-USD - 70,893
Sonali Bank Kolkata-USD 26,490,346 15,291,748
Bank of Ceylon-USD 1,247,490 1,144,099
CITI Bank NA, New York (Export)-USD - 400,224,488
Sonali Bank London-USD 592,667 543,547
AB Bank Ltd, Mumbai (USD) 22,005,168 27,325,569
HDFC Bank Ltd.-USD 39,239,533 21,061,159
Sonali Bank London-USD 2,659,942 607,458
United Bank of India-USD 27,798,337 26,009,626
AKTIF YATIRIM BANKASI A.S.,ISTANBUL-EUR 90,484,676 14,254,185
Habib American Bank New York-USD 57,108,676 31,700,199
Kookmin Bank, Seoul-USD 42,526,006 29,223,949
Total 320,173,805 569,364,038

(Annexure - A may kindly be seen for details)

4.2.2 Term Placement

AB Bank Limited (USD) 238,900,000 328,650,000
Meghna Bank Limited-USD - 219,100,000
Southeast Bank Limited - 109,550,000

Total 238,900,000 657,300,000

Grand total (Nostro and Term Placement) 559,073,805 1,226,664,038

4.3 Maturity grouping of balances with other banks & financial institutions:
On demand 449,160,556 687,500,000
Upto 1 month 238,900,000 624,683,047
Over 1 month but not more than 3 months 39,335,322 41,889,737
Over 3 months but not more than 1 year - -
Over 1 year but lnot more than 5 years 430,088,547 430,168,892
Over 5 years - -
Total 1,157,484,425 1,784,241,676

5 Money at Call & Short Notice

Commercial Banks Note 5.1 - -
Financial Institutions (Public & Private) - -
- -
5.1 Commercial Banks
- -
- -

130 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023
6. Investments
Government Securities Note 6.1 2,919,551,378 18,927,418,270
Other Investments Note 6.2 1,337,464,045 1,351,544,673
4,257,015,423 20,278,962,943
6.1 Government Securities
Treasury Bills and Reserve Repo Note 6.1.1 - -
Treasury Bonds Note 6.1.2 2,915,026,678 18,924,256,670
Prize Bond 4,524,700 3,161,600
2,919,551,378 18,927,418,270
6.1.1 Treasury Bills (at revalued Amount) (A)

364 Days Government Treasury Bills - -

364 Days Reverse Repo - -
182 Days Government Treasury Bills - -
91 Day Government Treasury Bills - -
28 Days Government Treasury Bills - -
01 Day Reverse Repo-Bangladesh Bank - -
- -
Reverse Repo (B)
Reverse Repo-Banks and NBFIs - -
Reverse Repo-Bangladesh Bank - -
Total - -
Grand Total (A+B) - -

6.1.2 Treasury Bonds (at revalued Amount)

02 Years Government Treasury Bond - -
05 Years Government Treasury Bond (Sukuk) 237,580,000 3,146,760,635
10 Years Government Treasury Bond 2,095,349,203 11,205,789,825
15 Years Government Treasury Bond - 2,479,932,181
20 Years Government Treasury Bond 582,097,475 2,091,774,029
2,915,026,678 18,924,256,670
6.2 Other Investments

Shares Note 6.2.1 1,337,404,545 1,351,485,173

Others (Memorial Coin) 59,500 59,500
1,337,464,045 1,351,544,673

6.2.1 Shares
a. Quoted companies
Shares in listed companies 1,273,969,705 1,288,050,333

b. Unquoted companies
Share of Karmasangsthan Bank 15,000,000 15,000,000
ICB AMCL 2nd NRB Mutual Fund 33,644,190 33,644,190
Preference Share of BDCL 7,450,000 7,450,000
Equity Of Grameen I. T. Park 4,201,760 4,201,760
Share of CDB Ltd. 3,138,890 3,138,890
Sub-total 63,434,840 63,434,840
Grand Total (a+b) 1,337,404,545 1,351,485,173
(Details of Investment in shares may kindly be seen in Annexure - B)

| Annual Report 2024 131

 Amount of Taka
31.12.2024 31.12.2023

6.3 Investment in Securities are classified as per Bangladesh Bank Circular

Held To Maturity (HTM) Note 6.3.2 1,914,835,500 17,881,259,663

Held For Trading (HFT) Note 6.3.1 762,611,178 805,417,007
Other Bond (Sukuk Bond) 237,580,000 237,580,000
2,915,026,678 18,924,256,670

6.3.1 Held For Trading (HFT):

Treasury Bond 762,611,178 805,417,007
Treasury Bill and reverse repo - -
762,611,178 805,417,007

6.3.2 Held For Trading (HTM):

Treasury Bond 1,914,835,500 17,881,259,663
Treasury Bill and reverse repo - -
1,914,835,500 17,881,259,663
6.4 Assets pledged as security
Assets in the amounts shown below were pledged as security
for the following liabilities
Liabilities to bank - -
Liabilities to customers - -
- -
There is no assets pledged, mortgaged or hypothecated against bank's borrowings.

6.5 Maturity Grouping of Investments

On demand 4,524,700 3,221,100
Upto 1 month - -
Over 1 month but not more than 3 months - 502,083,394
Over 3 months but not more than 1 year 237,580,000 1,857,989,800
Over 1 year but not more than 5 years 4,014,851,223 5,611,089,849
Over 5 years 59,500 12,304,578,800
4,257,015,423 20,278,962,943
7. Loans & Advances
Loans, Cash Credit & Overdraft etc. Note 7.2 127,890,314,689 130,591,095,399
Bills purchased & discounted Note 7.10 998,746,571 933,734,300
128,889,061,260 131,524,829,699

7.1 Residual maturity grouping of loans including bills purchased and discounted

Payable on demand 260,700,000 1,560,900,000

Not more than 3 months 7,998,980,863 14,204,806,445
Above 3 months but not more than 1 year 23,219,490,439 26,079,008,240
Above 1 year but not more than 5 years 85,679,593,544 64,803,410,010
Above 5 years 11,730,296,414 24,876,705,004
128,889,061,260 131,524,829,699

132 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023
7.2 Loans, Cash Credit & Overdraft etc.
In Bangladesh
Loans Note 7.2.1 70,995,914,109 70,344,680,777
Cash credits 19,382,808,984 19,875,271,122
Overdrafts Note 7.2.2 10,606,050,671 11,311,194,597
Others Note 7.2.3 26,905,540,925 29,059,948,903
127,890,314,689 130,591,095,399
Outside Bangladesh - -
127,890,314,689 130,591,095,399

7.2.1 Loans
Loan General 2,291,587,529 2,435,309,624
Term Loan 68,704,326,580 67,909,371,153
70,995,914,109 70,344,680,777
7.2.2 Overdrafts
SOD agst Bank's Own FDR 570,428,508 360,441,547
SOD agst Other Bank's FDR 281,280,873 284,296,725
SOD agst govt. bonds and securities 46,344,823 45,016,935
SOD agst Bank's Own Deposit Scheme 614,666,638 564,882,717
SOD for issuance of CDR/SDR/PO 17,061,058 17,061,058
Temporary Overdraft 220,356,269 220,356,269
Overdraft Secured Mortgage 6,853,319,966 6,902,068,503
Overdraft Secured (Other Securities) 1,180,175,930 1,672,650,057
Overdraft (Clean) 346,526,311 400,297,791
Ovedraft Industrial Special CMSME COVID 19 235,496,048 463,209,648
Overdraft Service Special CMSME COVID 19 65,516,942 78,917,437
Overdraft Commercial Special CMSME COVID 19 87,275,007 197,972,312
Overdraft Industrial SMESPD-04/22 41,330,975 56,163,303
Overdraft Service SMESPD-04/22 24,485,938 20,847,990
Overdraft Commercial SMESPD-04/22 21,785,385 27,012,305
10,606,050,671 11,311,194,597
7.2.3 Others
Export Credit/Packing Credit 366,783,174 414,287,053
Payment Against Documents 140,442,052 395,141,333
Loan Against Trust Receipt 2,406,905,339 2,255,288,049
Real Estate Loan 7,242,740,470 7,964,188,906
Other short term advance 315,730,109 112,801,649
Tender Bidding & Work order financing 385,841,235 463,944,925
Loan against Govt. Fund and other scheme 215,831,916 367,510,414
Credit to NBFI 1,501,214,883 1,951,015,544
Transport Loan 4,485,391,664 4,493,843,213
Consumer Credit 1,641,731,239 1,623,604,467
Micro Credit Financing 317,329,542 1,065,378,490
Agricultural Credit 46,943,901 56,358,256
Sundry/Misc. Loan 4,385,234,587 5,051,794,395
Staff Loan 3,453,420,814 2,844,792,209
26,905,540,925 29,059,948,903

7.3 Loans on the basis of significant concentration including bills purchased & discounted

a. Advances to Directors - -
b. Advances to Staffs 3,453,420,814 2,844,792,209
c. Advances to Customers group 35,067,514,961 36,031,321,302
d. Advances to Industrial sector Note 7.3.1 90,368,125,485 92,648,716,188
128,889,061,260 131,524,829,699

| Annual Report 2024 133

 Amount of Taka
31.12.2024 31.12.2023
7.3.1 Advances to Industrial sector
Food and Allied Ind. 15,582,928,548 15,673,021,881
ERGM 9,312,112,774 9,245,262,777
Textile 5,063,621,548 5,093,541,865
Accessories 2,197,605,735 1,972,742,920
Jute [Link] Allied Ind. 4,830,415,406 4,857,674,454
Forest [Link] Allied Ind. 102,521,365 119,535,074
Paper, Board, Printing, Pub. and Packaging 4,642,501,089 4,429,860,864
Tannery Leather and Rubber Prod. 4,584,174,586 4,422,768,351
[Link] Allied Ind. 2,055,577,870 2,107,483,318
Plastic Ind. 1,258,112,414 1,347,392,022
Glass, Crmc. and Other non Metal. Pr. 903,185,218 1,075,984,599
Engineering 6,365,681,083 6,837,120,906
Electrical and Electronics Ind. 473,443,084 596,004,572
Real Estate & Housing 14,533,454,215 14,447,682,535
Transport and Communication 6,232,425,128 6,204,140,078
Ship,Shipbulding and Breaking 13,998,933 9,281,827
Power,Gas and Water 117,683,152 101,895,419
Hotel and Restaurant 581,859,417 677,273,494
Hospital and Clinic 934,570,460 781,173,081
Brick Kiln 3,153,194,935 3,167,044,124
Telecommunication & IT 431,794,227 391,142,441
Other Service Ind. 4,343,521,487 6,063,451,221
[Link] Elsewhere Classified 2,653,742,811 3,027,238,365
Total 90,368,125,485 92,648,716,188

7.4 Loans & advances allowed to each customer exceeding 10% of Bank's paid up capital

Number of Customers 28 28
Amount of outstanding advances 50,522,140,000 50,389,140,000
Amount of classified advances thereon 45,393,340,000 44,868,600,000
Amount of recovery 176,971,000 181,938,511
Persuasion and Persuasion and
Meastures taken for recovery negotiation for negotiation for
recovery is going on recovery is going on
*In 2023 and 2024 ,capital of the Bank was negative. As such, loans and advances allowed to customers' group exceeding 10%
of the Banks' paid-up capital are reported here as per Bangladesh Bank approval.
(Details are given in Annexure - C)

7.5 Geographical Location - wise Loans and Advances

Inside Bangladesh
Dhaka Division 76,224,909,437 77,897,095,775
Chattogram Division 21,899,555,213 22,278,862,010
Rajshahi Division 6,026,377,716 5,929,952,647
Khulna Division 6,149,790,246 6,420,088,515
Barishal Division 691,254,581 847,083,736
Sylhet Division 1,203,584,407 1,261,234,537
Rangpur Division 8,284,651,374 8,471,774,614
Mymensingh Division 8,408,938,286 8,418,737,865
Total Inside Bangladesh 128,889,061,260 131,524,829,699
Outside Bangladesh - -
Total 128,889,061,260 131,524,829,699

134 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023
7.6 Distribution of Loans and advances according to BRPD Circular
by Bangladesh Bank

A. Unclassified loan:
Standard 38,386,656,202 44,931,195,847
SMA 2,146,700,720 3,266,154,479
Sub-Total 40,533,356,922 48,197,350,326
B. Classified loan:
Sub-standard 965,501,576 1,054,797,347
Doubtful 319,242,405 141,819,088
Bad and loss 87,070,960,357 82,130,862,938
Sub-Total 88,355,704,338 83,327,479,373
Total loans and advances (A+B) 128,889,061,260 131,524,829,699

7.7 Provision required for loans and advances

Status
Unclassified-General provision
STAC & Micro Credit 1,476,090 2,765,535
SMA 141,816,594 14,589,665
Others (excluding staff loan) 105,174,553 330,780,462
Staff loan 9,559,069 2,659,881
Sub-Total 258,026,306 350,795,543
Classified-specific provision
Sub-standard 55,121,987 35,933,565
Doubtful 2,134,896 992,689
Bad/Loss 5,058,564,040 4,974,273,692
Sub-Total 5,115,820,923 5,011,199,946

Total Required provision as per Bangladesh Bank's approval 5,373,847,229 5,361,995,489

Total provision maintained 5,373,847,229 5,361,995,489

Excess/(short) provision - -

Note:Provision has been maintained by the Bank in accordance with Bangladesh Bank's approval vide its Letter No.
DOS(CAMS)1157/41(Dividend)/2025-3095 dated 21 May 2025 and DOS(CAMS)1157/41(Dividend)/2024-1839 dated 30 April 2024.
Bangladesh Bank has allowed deferral facility to the Bank from maintaining provision shortfall of Tk. 5,316.81 crore and 5343.03 crore
against loans and advances to finalize Financial Statements for the year 2024 and 2023 respectively. As such, there is no un-approved
provision shortfall of the Bank as on 31 December 2024 and as on 31 December 2023.

Details of provision may kindly be seen in Note 13.1 and 13.2

7.8 Listing of Assets Pledged as Security/Collaterals

Nature of the secured assets

Fixed Assets 119,238,329,094 117,781,198,023
Cash and quasi-cash 4,675,208,179 3,521,878,891
Others 6,476,944,984 5,542,504,783
130,390,482,257 126,845,581,697

| Annual Report 2024 135

 Amount of Taka
31.12.2024 31.12.2023
7.9 Particulars of Loans and Advances:
(i) Loans considered good in respect of which the banking company is fully secured; 33,283,607,976 38,158,237,900

(ii) Loans considered good for which the banking company holds no other security 2,062,401,727 3,143,090,709
other than debtor's personal guarantee;
(iii) Loans considered good secured by personal undertaking of one or more parties in 3,923,343,286 5,338,121,538
addition to the personal guarantee of the debtor;
(iv) Loans adversely classified ; provision not maintained there against - -

39,269,352,989 46,639,450,147
(v) Loans due by directors or officers of the banking company or any of these either 3,440,928,855 2,844,792,209
separately or jointly with any other persons
(vi) Loans due from companies or firms in which the directors of the banking - -
company have interests as directors, partners or managing agents or in case of
private companies as members;
(vii) Maximum total amount of advance including temporary advance made at any 3,522,904,922 2,871,955,640
time during the year to directors or managers or officers of the banking
companies or any of them either separately or jointly with any other person;

(viii) Maximum total amount of advances, including temporary advances granted - -

during the year to the companies or firms in which the directors of the banking
company have interests as directors, partners or managing agents or in the case
of private companies as members;
(ix) Due from banking companies. - -
(x) Amount of classified loans on which interest has not been charged 87,070,960,357 82,130,862,938
(a) (Decrease)/ Increase in provision 104,620,977 (4,543,517,891)
Amount of loan written off - 4,764,236,887
Amount realized against loan previously written off 122,010,663 48,091,367
(b) Amount of provision kept against loan classified as bad/loss 5,058,564,040 4,974,273,692
(c) Interest credited to the interest suspense account 1,766,794,991 4,972,783,968
xi) Amount of the written off loan:
(a) Cumulative amount of Written off loan 25,224,020,663 25,224,020,663
(b) Amount written off during the current year - 4,764,236,887
(c) Amount of written off loan for which law suit has been filed 24,768,542,888 24,575,539,850

7.10 Bills Purchased and Discounted

Payable in Bangladesh 946,054,738 880,006,163
Payable outside Bangladesh 52,691,833 53,728,137
998,746,571 933,734,300

7.11 Maturity grouping of bills purchased & discounted

Not more than 01 months 578,544,453 540,161,993
Above 01 months but not more than 03 months 409,951,053 338,476,184
Above 03 months but not more than 06 months 10,251,065 55,096,123
Above 06 months - -
998,746,571 933,734,300

136 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023
8. Fixed assets including premises, furniture & fixtures
Own Assets
Building 125,095,000 125,095,000
Furniture and Fixtures 136,431,969 135,395,055
Interrior Decoration 396,853,149 388,561,113
Machinery and Equipment 400,643,988 391,491,450
Computer Hardware 493,760,218 485,193,602
Software 154,019,583 150,638,583
Motor Vehicles 239,340,197 239,340,197
1,946,144,104 1,915,715,000
Less: Accumulated depreciation 1,539,431,296 1,471,329,142
Sub-total (A) 406,712,808 444,385,858
Leased Assets
Leasehold Assets 4,000,000 4,000,000
Less: Accumulated depreciation 1,166,635 1,126,525
Sub-total (B) 2,833,365 2,873,475
Total (A+B) 409,546,173 447,259,333
A Schedule of Fixed Assets is given in Annexure-D.
9. Other Assets

i) Income generating - -
ii) Non-Income generating
a) Stationery, stamps, printing materials etc. 28,866,038 26,185,505
b) Security deposits Note 9.2 14,782,623 13,795,636
c) Advance rent 35,120,344 47,351,425
d) Advance for space of BASIC Zaman Tower 759,999,993 759,999,993
e) Advance for space of Banani 161,315,950 161,315,950
f) Other prepayments Note 9.1 46,640,813 30,177,905
g) Advance income tax 191,671,013 195,289,216
h) Income receivable Note 9.3 1,689,512,088 1,921,255,254
i) Deferred Tax Assets Note 36 941,517,951 897,123,027
j) Suspense account Note 9.4 149,457,844 128,724,061
k) Advances/expenditures incurred against proposed branches 2,714,400 2,714,400
l) Balance with Fakrul Islam securities 20 20
m) ICB Securities Trading Co. Ltd. 14,084,431 3,803
n) Rupali Bank Securities Ltd. 12,415,628 12,415,628
o) Branch adjustment account 418,913,144 318,298,166
p) Sundry debtors Note 9.5 58,672,071 206,274,594
n) Position Clearing (Net) - 257,533,598
r) Position General Ledger (Net) 80,112,158 -

4,605,796,509 4,978,458,181
9.1 Other prepayments:
Total Other Prepayments 1,077,635,225 1,276,567,509
Less Advance against proposed branch (2,714,400) (2,714,400)
Less: Provision for Loss on Investment in Share (85,673,684) -
Less: Advance loan loss provision (21,289,222) (17,875,937)
Less Loss on amortization of HTM (1,163) (304,483,324)
Less Advance prepayment HO and Banani Br. (921,315,943) (921,315,943)
46,640,813 30,177,905

9.2 Security deposits

Security deposits, rent and other prepayments made to statutory authorities, other institutions and individuals are considered good.
9.3 Income receivable

Income receivable consists of interest income receivable from various investments and Loans have been verified and considered good.

9.4 Suspense account

Suspense account consists of Excise Duty and petty cash etc.

| Annual Report 2024 137

 Amount of Taka
31.12.2024 31.12.2023
9.5 Sundry Debtors

1) Protested Bill:

a) BCCI:
i) Protested bill, Main branch 6,535,880 6,535,880
ii) Protested bill, Khatungonj branch 244,800 244,800
iii) Protested bill, Khulna branch 416,367 416,367
iv) BCCI-Bombay 1,399,580 1,399,580
v) BCCI-London 840 785

Sub total 8,597,467 8,597,412

b) Protested bill for SWIFT 20,244,921 20,244,921
c) Protested Bill -Lawyers' Fee 1,340,000 1,340,000
d) Protested Bill-Pay Order-Jessore Br. 4,185,000 -
d) Protested Bill -Bangshal Branch- Shahadat Hossain 11,198,036 11,198,036

Total Protested Bill (A) 45,565,424 41,380,369

2) Other Sundry Debtors 129,237 2,694,346
3) Advance Cash Incentives-Remittance 30,094 9,566
4) Encashment of Sanchaya Patra 12,614,816 161,857,813
5) Encashment of Bond 312,500 312,500
6) Cash Shortage 20,000 20,000
Total (B) 13,106,647 164,894,225

Grand Total (A+B) 58,672,071 206,274,594

Note: Full provision has been made in the account for the protested bill.

10. Non-banking Assets

Income generating non-banking assets - -
Non-income generating non-banking assets (Note 10.01) 23,858,490 23,858,490
23,858,490 23,858,490
10.01 Non-income generating non-banking assets
Land 8,219,490 8,219,490
Building 15,639,000 15,639,000
23,858,490 23,858,490
The Bank has got the possession and ownership of the mortgage properties according to the judgement of the Honorable Court in
accordance with the section 33(7) of "Artha Rin Adalat-2003". The Bank has been holding the non-banking assets since July 23, 2019.

11 Borrowings from other banks, financial institutions and agents

In Bangladesh Note 11.1 1,370,288,802 1,566,993,607
Outside Bangladesh Note 11.2 854,535,322 710,036,375
2,224,824,124 2,277,029,982

11.1 In Bangladesh(a+b+c)
a) Money at call and on short notice
Sub total (a) - -

b) Term borrowing:
Sub-total (b) -

138 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023
c) Term Borrowing
Bangldesh Bank Refinance Loan for House building 31,523,317 37,928,812
Bangldesh Bank Refinance Loan for Solar,Bio-gas,ETP,BANECO 480,000 882,724

Financing Brick Kiln Efficiency Improvement Project 54,636,912 70,097,228

Refinance under BRPD # 10/2020 - 39,876,493

Refinance Scheme for "CMSME Working Capital Loan/ Investment under Covid-19" - 50,200,000

Refinance scheme for agriculture sector (Covid-19) 2nd phase - 24,540,000

10/50/100 Taka Account Holders under refinance scheme Tk.5.00 Crore 4,054,167 8,326,250
(FID Circular No.01/21)
COVID RS-3000 FID-02/2021 (FID Circular No.02) - 3,500,000
Term Loan Industrial/Service/Commercial SMESPD-04/22 1,242,551,666 1,300,660,000
"STL-Agriculture R.S. 5000" under ACD-07/2022 27,431,000 6,120,000
Ghorey Fera refinance scheme Tk.500 Crore (ACD Circular No.01/2022) 1,900,000 3,300,000
Refinance Scheme of Joyeeta Foundation - 12,500,000
Refinance Scheme of SME Foundation 7,711,740 9,062,100
Sub-total (c) 1,370,288,802 1,566,993,607
Total (a+b+c) 1,370,288,802 1,566,993,607

11.2 Outside Bangladesh

a) Demand Borrowing
Demand Borrowing- Foreign Currency 311,275,373 -

b)Term Borrowing
Loan for Micro Credit and Small Scale Industries (KfW, Germany) 153,379,147 153,379,147
Second Crop Diversification Project 356,779,150 458,716,050
Agro Business Development Project of ADB 33,101,652 97,941,178
Sub-Total (b) 543,259,949 710,036,375
Total (a+b) 854,535,322 710,036,375

11.3 Overall transaction of Reverse Repo:

2024 2023
Minimum outstanding Maximum outstanding during Minimum outstanding Maximum outstanding
Securities bought under
during the year the year during the year during the year
repo:

i) with Bangladesh Bank Nil Nil Nil Nil

ii) with other banks & NBFIs - 627,142,021 Nil Nil

11.4 Overall transaction of Repo:

2024 2023
Minimum outstanding Maximum outstanding during Minimum outstanding Maximum outstanding
Securities sold under repo: during the year the year during the year during the year

i) with Bangladesh Bank Nil 22,898,881,258 Nil 13,946,553,170

ii) with other banks & NBFIs
Nil Nil Nil 2,601,319,368

12. Deposits & Other Accounts

Non-Interest bearing Deposits Note 12.1 7,874,009,216 9,008,835,006
Interest bearing Deposits Note 12.2 127,655,270,607 137,925,101,807
135,529,279,823 146,933,936,813

| Annual Report 2024 139

 Amount of Taka
31.12.2024 31.12.2023
12.1 Non-Interest bearing Deposits
Current, Savings and Other Deposits Note 12.1.1 7,253,073,396 8,008,623,254
Bills Payable Note 12.1.2 620,935,820 1,000,211,752
7,874,009,216 9,008,835,006

12.1.1 Current, Savings and Other Deposits

Current Deposit 3,656,991,538 4,054,608,302
Savings Deposit 150,554,016 189,393,764
Margin Deposit 2,619,190,040 3,071,069,127
Sundry/Other Deposit 826,337,802 693,552,061
7,253,073,396 8,008,623,254

12.1.2 Bills Payable

Payment Order 617,697,600 996,973,532
Demand Draft 3,238,220 3,238,220
620,935,820 1,000,211,752

12.2 Interest bearing Deposits

Savings Bank Deposits Note 12.2.1 9,402,865,074 10,767,694,099
Fixed Deposits,SND,Other Deposit Scheme Note 12.2.2 118,114,012,135 126,997,197,433
Current Deposit (Premium Plus Current Account) 138,393,398 160,210,275
127,655,270,607 137,925,101,807

12.2.1 Savings Bank Deposits

Savings Account 9,402,865,074 10,767,694,099
9,402,865,074 10,767,694,099

12.2.2 Fixed Deposits

Short Notice Deposits 18,138,906,954 16,112,654,503
Term Deposits 94,769,919,022 104,827,211,275
Other Deposit Scheme 5,205,186,159 6,057,331,655
118,114,012,135 126,997,197,433

12.3 Maturity Grouping of other deposits & inter-bank deposits

Deposit from Bank

Repayable on demand 12,090 911,678
Repayable within 1 month 3,709,098 3,499,955
Above 01 Month but not more than 6 Months 255,131,069 232,998,021
Above 6 Months but not more than 1 Year - -
Above 01 Year but not more than 05 Years - -
Above 05 Years but not more than 10 Years - -
Above 10 Years - -
258,852,257 237,409,654

Other Deposits
Payable on Demand 2,013,887,910 1,949,688,322
Less than 01 Month 21,708,551,273 24,082,597,007
Above 01 Month but not more than 6 Months 57,346,368,931 66,363,301,980
Above 06 Months but not more than 01 Year 26,890,894,137 18,802,269,950
Above 01 year but not more than 05 Years 25,206,015,085 30,067,289,974
Above 05 years not more than 10 years 2,104,710,230 5,431,379,926
Above 10 years - -
135,270,427,566 146,696,527,159
135,529,279,823 146,933,936,813

140 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023
13. Other liabilities
Provision for Loans and Advances Note 13.1 5,373,847,229 5,361,995,489
Provision for Off Balance Sheet Exposures Note 13.2 172,885,354 158,584,760
Provision for other assets Note 13.3 1,314,256,699 1,345,540,427
Provision for Investment Note 13.4 323,625,812 166,396,695
Provision for Balance with other Banks and NBFIs Note 13.5 300,000,000 300,000,000
Interest Suspense Account Note 13.6 13,662,462,788 13,801,014,920
Provision for Ex-gratia/Incentive Bonus Note 13.7 7,688,066 7,688,066
Provision for other Bonus 208,720 -
Provision for Gratuity Note 13.8 - 9,779,322
Provision for Welfare Fund 14,253,367 14,253,367
Provision for Benevolent Fund 10,000,000 10,000,000
Provision for Superannuation Fund 10,000,000 10,000,000
Prov. For Int. on Staff Provident Fund-GPF 8,720,000 16,959,487
Provision for General Provident Fund_GPF 32,561,827 -
Pension, Death Cum Retirement Benefit (PDCRB) Fund 79,562,000 -
Risk Fund for Accidental Cash Losses 5,000,000
Provision for Taxes Note 35 627,947,757 654,907,981
Provision for Card Related Contingency 4,103,579 2,784,579
Provision for Expenses Payable Note 13.9 48,879,026 33,936,960
Provision for stationery 22,857 25,459
Interest Accrued and Payable on Deposits 2,186,849,016 2,119,104,902
Interest Payable on Borrowing 127,958,910 135,408,266
Privileged Creditors 649,802,703 611,876,138
Deposit Insurance Premium Payable 29,603,749 13,580,355
Branch Adjustment Account - -
Position Clearing (Net)* 80,927,684 -
Position General Ledger (Net)* - 257,421,634
Sundry Creditors 41,450,403 39,635,598
Sundry Creditors 8,750 -
Miscellaneous Creditors Note 13.10 25,372,031 42,073,840
25,137,998,327 25,112,968,245

*Under multi currency concept an organization maintains different statement of affairs for each currency it deals including base (BDT)
currency and one consolidated statement of affairs of all currencies converted into base currency. In the consilidated affairs all the assets
and liabilities in foreign currencies are converted in base currency and presented with other assets and liabilities in base currency. This
consolidated affairs reflects the overall position of the bank expressed in base currency. Two GLs are maintained in the bank to account any
foreign currency transaction. These GLs are Position GL for foreign currency position and Position Clearing GL. Position GL, accounts for
original currency units other than base currency and Position Clearing GL accounts for correnponding value of foreign currency converted into
base currency. Position, from the treasury point of view, means the available funds in different currencies with which the bank can trade. As
value of any currency undergo change, Position in that currency need to be evaluated from time to time and necessary adjustments are made
through these GLs.

13.1 Provision for Loans and Advances

Classified Loan Note 13.1.1 5,115,820,923 5,011,199,946
Unclassified Loan Note 13.1.2 258,026,306 157,470,122
Special General Provision-COVID-19 Note 13.1.3 - 193,325,421
Provision held at the end of the year 5,373,847,229 5,361,995,489

| Annual Report 2024 141

 Amount of Taka
31.12.2024 31.12.2023
13.1.1 Provision for Classified Loan

Provision held at beginning of the year 5,011,199,946 9,554,717,837

Fully Provided Debt Written off - (4,303,304,449)
Transferred to specific provision agst. NBA for booking Non-banking Assets - (54,195,155)
Transferred to provision for unclassified loans - -
Transferred from provision for unclassified loans 92,769,237 -
Transferred to provision for Special General Provision COVID-19 - (186,018,287)
Provision made during the year 11,851,740 -
Provision held at the end of the year 5,115,820,923 5,011,199,946

Note: Provision has been maintained by the Bank in accordance with Bangladesh Bank's approval vide its Letter No. DOS(CAMS)1157/
41(Dividend)/2025-3095 dated 21 May 2025 and DOS(CAMS)1157/41(Dividend)/2024-1839 dated 30 April 2024. Bangladesh Bank has
allowed deferral facility to the Bank from maintaining provision shortfall of Taka. 5,316.81 crore and 5343.03 crore against loans and
advances for the year 2024 and 2023 respectively to finalize Financial Statements for the year 2024 and 2023. As such, there is no
un-approved provision shortfall of the Bank as on 31 December 2024 and as on 31 December 2023.

13.1.2 Provision for Unclassified Loan

Provision held at beginning of the year 157,470,122 159,010,052
Transferred from special general provision-COVID 19 as per BRPD Circular#58 193,325,421 -
dtd.31.12.2024
Transferred to provision for classified loans (92,769,237) -
Transferred to special general provision-COVID-19 - (1,539,930)
Provision made during the year - -
Provision held at the end of the year 258,026,306 157,470,122

As per BRPD circular No.58 dated 31 December 2024, Bangladesh Bank has cancelled to maintain provision for Covid-19. But previously
maintained loan loss provision for COVID-19 to be transferred to general and specific loan loss provision only if it is remained in shortfall.
So maintained provision of Taka. 19,33,25,421/- against Covid-19 has been transferred to provision for unclassified loans and advances for
the year 2024.

13.1.3 Special General Provision-COVID-19

Provision held at beginning of the year 193,325,421 5,767,204
Transferred from provision for unclassified loans - 1,539,930
Transferred from provision for classified loans - 186,018,287
Transferred to provision for unclassified loans as per BRPD Circular#58 dtd. 31.12.2024 (193,325,421) -
Provision made during the year - -
Provision held at the end of the year - 193,325,421

13.2 Provision for off Balance Sheet Items

Provision held at beginning of the year 158,584,760 115,389,848
Provision made during the year 14,300,594 43,194,912

Provision held at the end of the year 172,885,354 158,584,760

A provision of Taka 172,885,354 has been made @1.00% on total off-balance sheet exposures of the Bank which will be treated as
supplementary capital of the Bank.

142 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023

13.3 Provision for other assets:

Advance against space for Head Office- BASIC Zaman Tower 759,999,993 759,999,993
Advance against space for Banani Branch 161,315,950 161,315,950
Unadjusted Suspense Account-Head Office- Tech One Global (Pvt.) Ltd. 5,100,965 5,100,965
Unadjusted Suspense account-Gulshan Branch 2,504,242 2,504,242
Unadjusted Suspense account-BSP - 474,954
Giga Tech Ltd. Adv. Bill (ICTD) 438,750
Advance for RJSC for miscellaneous exp. (BSCAD) 100,000
Unadjusted suspense account-Excise Duty-Different Branches not required - 1,281,585
Advance TA/DA-Mr. Abdur Rob (ICTD) 6,500
Unadjusted Suspense Account (Head Office)-Medical Bill 1,149,263 1,149,263
Provision for Unadjusted Branch Adjustment Accounts_Shantinagar Br. 16,535,000 16,535,000
Advance against Professional Services 45,900
Advance Security Deposit-Electricity 647,809
Advance Security Deposit-Water 6,875
Advance Security Deposit-Communication Link 49,245
Provision agst. Interest Receivable on Loans and Advance* 317,312,646 353,432,311
Provision against Advance Legal Expenses 3,475,756 2,363,359
Other Miscellaneous Income Receivable 2,577 2,577
Provision for protested bill-Legal Fee 1,340,000 1,340,000
Provision for protested bill-SWIFT 20,244,921 20,244,921
Provision for protested bill-BCCI 8,597,272 8,597,272
Provision for protested bill-Pay Order_Jessore Branch 4,185,000 -
Provision for protested bill-Shahadat Hossain Bangshal 11,198,035 11,198,035
Total required provision 1,345,540,427 1,345,540,427
Provision held at the beginning of the year 1,345,540,427 1,574,438,748
Less: Unadjusted suspense account-BSP is required/(not required) during the year (474,954) (1,937,017)
Add: Giga Tech Ltd._Adv. Bill 438,750
Add: Advance for RJSC for miscellaneous exp. 100,000
Add: Advance TA/DA-Mr. Abdur Rob (ICTD) 6,500
Add: Provision against Advance Legal Expenses 1,112,397 2,363,359
Add: Provision made during the year agaist Unadjusted Branch Adjustment Accounts
Shantinagar Br. - 8,267,500
Advance against Professional Services 45,900
Advance Security Deposit-Electricity 647,809
Advance Security Deposit-Water 6,875
Advance Security Deposit-Communication Link 49,245
Add: Provision for protested bill-Pay Order_Jessore Branch 4,185,000
Less: Excess provision for Interest Receivable on Loans & Advance not required (36,119,665) (236,867,326)
Les: Excess amount of Unadjusted suspense account-Excise Duty not required (1,281,585) (724,837)
Provision held at the end of the year 1,314,256,699 1,345,540,427
Total Provision excess/(shortfall) - -

* Note: The head as Income Receivable has been changed as Provision agst. Interest Receivable on Loans and Advance from the year-2023.

13.4 Provision for Investment

Provision Required:
Provision for Investment in Shares of Listed Companies 311,974,052 162,194,935
Bangladesh Development Co. Ltd. 7,450,000
Provision for Investment in Equity of Grameen IT Park Limited 4,201,760 4,201,760
Total Provision Required 323,625,812 166,396,695
Provision Maintained:
Opening Balance 166,396,695 193,196,695
Add: Provision made during the year 157,229,117 (26,800,000)
Closing Balance 323,625,812 166,396,695
Excess Provision/Provision Shortfall - -

| Annual Report 2024 143

 Amount of Taka
31.12.2024 31.12.2023
13.5 Provision for Balance with other Banks and NBFIs

Provision for FDR with BIFC Limited 300,000,000 300,000,000

Total Required Provision 300,000,000 300,000,000

Opening Balance of Maintained Provision 300,000,000 300,000,000
Provision made during this year - -
Closing Balance of Maintained Provision 300,000,000 300,000,000
Excess Provision/Provision Shortfall - -

13.6 Interest Suspense Account

Balance at the beginning of the year before adjustment 13,772,214,920 14,472,403,069

Add: Transferred from Int. Inc. as per BB [Link]'s auditor's advice 28,800,000 109,918,000
Opening Balance after adjustment of interest suspense 13,801,014,920 14,582,321,069
Amount transferred to Interest Suspense account during the Year after adjustment 1,725,443,702 4,943,983,968
Amount recovered from Interest Suspense account during the Year (1,905,347,123) (5,293,157,679)
Suspense Written off/Waived During the Year - (460,932,438)
Total 13,621,111,499 13,772,214,920
Add: Intt. Inc. reversed as per BB Inspection teams and External Auditors' report -2024 41,351,289 28,800,000
Balance at the end of the year 13,662,462,788 13,801,014,920

13.7 Provision for Ex-gratia/Incentive Bonus

Opening Balance 7,688,066 7,688,066
Closing Balance 7,688,066 7,688,066

13.8 Provision for Gratuity

Opening Balance 9,779,322 63,081,301
Less: Transferred to Gratuity Fund Savings Account (9,779,322) (63,081,301)
-
Add: Provision made for the current year - 9,779,322
Closing Balance - 9,779,322

Required Balance of the fund as on 31 December 2024 2,553,208,183 2,816,398,227

Balance as on 31 December 2024 2,828,463,693 2,806,618,905
Incremental requirement for the year - 9,779,322
Excess/(Short) Provision for Gratuity

13.9 Provision for Expenses Payable:

Provision for telephone-office 466,884 483,548
Provision for electricity expenses 766,928 996,218
Provision for water, gas and sewerage 113,000 113,550
Provision for postage expenses - 4,500
Provision for rent 39,460,212 26,342,967
Provision for repairs, improvement and maintenance 136,318 239,358
Provision for on-line Banking expenses - 95,748
Provision for various audit fees 763,375 700,125
Provision for vehicle expenses 32,400 53,360
Provision Loan installment payable 341,607 428,936
Provision for entertainment expenses - -
Provision for other expenses 6,798,302 4,478,650
48,879,026 33,936,960
13.10 Miscellaneous creditors:
Misc. Creditors as per affairs 5,827,094,139 5,738,314,067
Less: Special Reserve-BCCI (7,782,258) (7,782,258)
Less: Provision for investment - -
Less: Audited Loan Loss Provision (5,520,580,249) (5,477,385,337)
Less: Unaudited Loan Loss Provision (21,289,222) (17,875,937)
Less: Misc. Creditors-Provision for Loss on Investment-Audited (166,396,695) (193,196,695)
Less: Misc. creditors-Provision for loss on investment-Unaudited (85,673,684) -
25,372,031 42,073,840

144 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023

13.11 Branch adjustments acount represents outstanding inter branch and head office transaction (Net) originated. The
un - responded entries as of 31 December 2024 are given below:
No. of Un-responded entries Amount of Un-responded entries
Particulars
Dr. Cr. Dr. Dr.
Up to 03 Months 602 262 589,472,858 238,848,547
Over 03 Month but within 06
5 - 175,510 -
Months
Over 06 Month but within 01
6 1 209,181 183,209
Year
Over 01 Year but within 05 1 - 16,535,000 -
Years

14. Capital

14.1 Authorized

5,500,000,000 ordinary shares of Tk 10.00 each 55,000,000,000 55,000,000,000

14.2 Issued, Subscribed and Paid up Capital

The Issued, Subscribed and Paid up Capital of the Bank as follows:

1,084,698,250 Ordinary Shares of Tk. 10.00 each 10,846,982,500 10,846,982,500
The Government of People's Republic of Bangladesh is the Sole Owner-Shareholder of the Bank and all the Ordinary Shares are Vested
with the Ministry of Finance.

14.3 Risk-weighted Assets and Capital Ratios as Defined by the Basel Capital Accord
In terms of section 13(1) of Bank Company Act 1991 (amendment 2023) and Bangladesh Bank BRPD Circular No. 18 dated 21 December
2014 required capital, available Tier-I and Tier-II capital of the Bank for the period ended as on 31 December 2024 is shown below:

Tier-1 capital:
Common Equity Tier-1
Paid up Capital 10,846,982,500 10,846,982,500
Statutory Reserve 2,224,690,642 2,224,690,642
General Reserve 40,000,000 40,000,000
Retained Earnings (54,858,351,636) (46,242,330,623)
Share Money Deposit 26,000,000,000 26,000,000,000
(15,746,678,494) (7,130,657,481)

Less : Regulatory adjustments:

Provision Shortfall against classified loans and advance - -
Deferred tax assets (941,517,951) (897,123,027)
Total adjustments (941,517,951) (897,123,027)
(16,688,196,445) (8,027,780,508)

Additional Tier- 1 Capital

Non-cumulative irredeemable preference share 1,205,000,000 1,205,000,000
Total Tier-1 capital (15,483,196,445) (6,822,780,508)

| Annual Report 2024 145

 Amount of Taka
31.12.2024 31.12.2023

Tier-2 capital
General Provision Maintained against Unclassified Loan 258,026,306 350,795,543
Provision for Off -Balance Sheet Items 172,885,354 158,584,760
Exchange Equalization - -
Revaluation Reserve of HTM and HFT Securities - -
430,911,660 509,380,303
Total eligible/regulatory capital (Tier-1 + Tier-2) (15,052,284,785) (6,313,400,205)
A. Total regulatory Capital (Tier-1 + Tier-2)*
Total Capital (Tier-1) (15,483,196,445) (6,822,780,508)
Total Capital (Tier-2) 430,911,660 509,380,303
Total Eligible Capital (Tier-1 + Tier-2) (15,052,284,785) (6,313,400,205)
B. Risk Weighted Assets
Balance Sheet Business 179,675,267,051 183,136,622,529
Off- Balance Sheet Business 6,171,391,489 5,224,062,922
Total Risk-weighted Assets (RWA) 185,846,658,540 188,360,685,451

C. Minimum Capital Requirement on Risk Weighted Assets (MCR) 18,584,665,854 18,836,068,545

(10% on Total Risk Weighted Assets)
D. Capital Surplus /(Shortfall) under MCR [A-C] (33,636,950,639) (25,149,468,750)

E. Capital Conservation Buffer (CCB) Requirement (2.50% of RWA) 4,646,166,463 4,709,017,136

F. Capital Surplus /(Shortfall) under MCR including CCB [D-E] (38,283,117,102) (29,858,485,886)

Capital to Risk Weighted Asset Ratio (CRAR) (8.10%) -3.35%

*Regulatory capital has been calculated by the Bank in accordance with Bangladesh Bank's approval vide its Letter Nos. DOS(CAMS)
1157/41(Dividend)/2025-3095 dated 21 May 2025 and Letter No. DOS(CAMS)1157/41(Dividend)/2024-1839 dated 30 April 2024. Bangladesh
Bank has allowed deferral facility to the Bank from maintaining provision shortfall of Tk. 5,316.81 crore and 5,343.03 crore against loans and
advances for the year 2024 and 2023 respectively to finalize Financial Statements for the year 2024 and 2023 of the Bank. As such, there is
no regulatory adjustment of provision shortfall against capital as on 31 December 2024 and 31 December 2023.

15. Statutory Reserve

Opening Balance at the Beginning of the Year 2,224,690,642 2,224,690,642
Add: Addition During the Year (20% of pre-tax Profit) - -
Closing Balance at the End of the Year 2,224,690,642 2,224,690,642

As per section 24 of Bank Companies Act 1991, no amount was transferred to statutory reserve in 2024 and 2023 as there was no pre-tax
profit.
16 Other Reserve
General Reserve (Note: 16.1) 40,000,000 40,000,000
Investment Revaluation Reserve (Note: 16.2) 896,833 (216,832,575)
Share Money deposit 26,000,000,000 26,000,000,000
5% Non-cumulative preference share/Other Free Reserve 1,205,000,000 1,205,000,000
27,245,896,833 27,028,167,425

146 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023

16.1 General Reserve

Opening Balance at the Beginning of the Year 40,000,000 40,000,000
Add: Addition During the Year - -
Closing Balance at the End of the Year 40,000,000 40,000,000
The Bank has been maintaining this reserve as venture capital fund since 1999 for equity support to innovative but risky project.
16.2 Investment Revaluation Reserve
Opening Balance at the Beginning of the Year (216,832,575) (165,275,546)
Increase/(decrease) during the Year 217,729,408 (51,557,029)
Closing Balance at the End of the Year 896,833 (216,832,575)
17. Surplus in Profit and Loss Account
Opening Balance (46,242,330,623) (42,258,670,061)
Add: Wrongly excess interest income was reversed in the approved audited
Financial Statements-2023. 2,031,000 -
Add: Wrongly assessed as interest income instead of interest suspense by DBI-8
inspection team-2023. 12,892,000 179,290,155
Profit/(Loss) during the Year (8,630,944,013) (4,162,950,717)
Cash Dividend Paid During the Year - -
Issuance of Bonus Share - -
Surplus in Profit and Loss Account during the year (54,858,351,636) (46,242,330,623)
17.1 Item-Wise Profit and Loss Account
Income:
Interest, Discount and Similar Income 5,098,009,524 6,577,884,953
Dividend Income 64,917,053 47,669,521
Fees, Commission and Brokerage 606,668,539 800,397,678
Other Operating Income 308,893,800 882,950,050
Total Income 6,078,488,916 8,308,902,202
Expenses:
Interest, Fee and Commission 11,830,157,688 9,784,527,828
Administrative Expenses 1,802,486,657 1,810,628,314
Other Operating Expenses 775,412,857 726,118,588
Depreciation on Banking Assets 70,292,080 81,759,593
Total Expenses 14,478,349,282 12,403,034,323

Profit Before Tax and Provision (8,399,860,366) (4,094,132,121)

18. Contingent Liabilities

Local Bills for Collection 134,222 134,222
Foreign Bills for Collection 66,406,816 85,061,304
Letters of Guarantee Note 18.1 3,788,710,932 3,424,892,339
Irrevocable Letters of Credit 5,031,613,481 5,902,155,164
Back to Back L/C 3,509,466,830 2,180,687,176
Acceptances and Endorsements 3,778,836,752 3,158,413,446
Value of Wage Earners Bond in Hand and others 80,567,000 74,033,000
Miscellaneous 1,033,099,325 1,033,099,325
17,288,835,358 15,858,475,976

| Annual Report 2024 147

 Amount of Taka
31.12.2024 31.12.2023

18.1 Letters of guarantee

A. Claim against the Bank which is not recognized as Loan - -

B. Money for which the Bank is contingently liable in respect of guarantees favouring:
Directors - -
Government 2,995,286,059 2,310,752,607
Bank and Other Financial Institutions 1,076,500 1,076,500
Others 792,348,373 1,113,063,233
3,788,710,932 3,424,892,340
19. Interest income
Interest on Loans and advances 5,801,436,325 4,870,019,213
Less: Intt. [Link] as per BB Inspection teams and external auditors' report-2024 (41,351,289) (28,800,000)
Interest on money at call and short notice 3,980,764 38,946,486
Interest on placement with Banks 70,249,234 105,064,977
Interest on foreign currency balance 13,674,733 14,456,578
Other interest Income (On Advance Rent of our Savar Br.) 287,350 220,335
5,848,277,117 4,999,907,589
20. Interest paid on deposits and borrowings etc.
On Savings Bank Deposit (note 20.1) 327,208,840 298,851,914
On Short Notice Deposit 809,497,444 676,876,427
On Fixed Deposit (note 20.2) 8,211,910,173 7,378,404,944
On Current Deposit 1,310,307 1,395,774
Interest paid on Staff Provident Fund-GPF 22,202,000 -
Interest paid on Staff Provident Fund-CPF 73,798,000 112,959,487
Other Deposits and deposit schemes (note 20.3) 472,463,391 545,600,014
On Borrowing from Bangladesh Bank and other financial institutions (note 20.4) 1,911,767,533 770,439,268
11,830,157,688 9,784,527,828
20.1 On Savings bank deposit:
On Savings Deposit (Conventional) 309,402,357 283,543,660
On School Banking Scheme 8,022,777 8,086,745
On Krishok Savings Account 923,331 973,504
On RMG Worker Account 271,395 333,075
On Leather Industry Worker 1,098 1,122
On Pothopushpo Savings Account 890 2,501
On Muktijoddhashpo Savings Account 294,174 293,472
On BASIC Chalantika 159,187 161,691
On Trinomul Savings Account 2,474,759 1,925,122
Interest paid on BASIC SUPER Savings account-BSSA 5,658,872 3,531,022
327,208,840 298,851,914
20.2 On Fixed deposit:
Interest paid on Fixed Deposit (Conventional) 7,740,210,736 6,881,021,488
Interest paid on Century Deposit scheme 200,807,843 246,372,976
Interest paid on double benefit scheme 3,858,398 (6,048)
Interest paid on Monthly Benefit Scheme (186,846) 53,300
Interest paid on BASIC twofold winner scheme 92,770,779 94,701,556
Interest paid on monthly gainer scheme 45,068,543 52,476,447
Interest paid on monthly income scheme 68,268,012 86,118,152
Interest paid on double deposit scheme 5,412,129 6,474,112
Interest paid on BASIC Diamond Term Deposit-BDTD 55,700,579 11,192,961
Total 8,211,910,173 7,378,404,944

148 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023

20.3 Other Deposits and deposit schemes

Interest paid on BASIC Fortune - (1,369)
Interest paid on BASIC Fortune Plus 203,312,584 265,972,444
Interest paid on BASIC Swapono puron 347,930 105,511
Interest paid on BASIC DPS Plus 112,409,384 172,773,946
Interest paid on Sata Barsha Sanchoy Prokalpo 48,107,748 41,315,428
Interest paid on BASIC Monthly Saving Scheme 48,348,560 31,596,909
Interest paid on BASIC Nari Monthly Saving Scheme 47,879,656 29,878,626
Interest paid on BASIC Probin Monthly Saving Scheme 4,821,248 2,159,090
Interest paid on BASIC Millionaire Deposit Scheme-BMDS 7,553,982 2,315,301
Interest paid on BASIC Five Lakhopoti Deposit Scheme 215,033 21,531
Interest paid on BASIC Sohayok Savings Scheme 5,813 -
Penal Interest recovered on Deposit Scheme (538,547) (537,403)
472,463,391 545,600,014
20.4 Interest on Borrowings
Interest on Refinance under BRPD Circular No. 10/2020 739,218 2,387,099
Interest on Refinance under SMESPD Circular No. 02/2020 793,336 14,821,097
Interest on Refinance under ACD Circular No. 01/2020 - 180,363
Interest on Refinance Under ACD Circular No. 02/2021 54,736 308,157
Interest on 'Ghorey Fery' REF. SCHEME FID-01/21 13,653 16,681
Int. on Term Loan-SMESPD-04/22 18,228,542 18,800,120
Int. on COVID RS-3000-REF. SCHEME FID-02/2021 2,447 97,973
INT. EXP. ON STL-Agri-R.S. 5000 ACD-07/2022 651,762
INTEREST ON PRE-SHIPMENT CREDIT UNDER REFINANCE SCHEME 432,073
Interest on Bangladesh Bank refinance-Brick Kiln 3,083,956 3,821,431
Interest on Bangladesh Bank refinance-Jute sector - 1,512,501
Interest on 10/50/100 TK. A/C HOLDERS-REF. SCHEME FID-01/202 298,712 459,911
Interest on Bangladesh Bank refinance- HBL 1,786,557 2,092,049
Interest on borrowing on B. B. refinancefor funding Solar, Bio-Gas and ETP
Scheme 27,569 47,916
Interest on Repo-Bangladesh Bank 1,842,060,721 658,489,306
Interest on Term Borrowing - 14,333,333
Interest on Borrowing-Call Money 23,887,014 27,202,847
Interest on Term Loan KFW 5,368,260 5,368,260
Interest on Borrowing-ADB Loan 2,274,645 5,088,730
Interest on Second Crop Diversified Project-ADB 12,056,162 15,403,333
Int. on STL-Agri-R.S. 1000 ACD-05/2022 8,170 8,161
1,911,767,533 770,439,268

21. Investment income

On GT Bill, Bangladesh Bank Bill and GT Bond, Reverse Rep (Note 21.1) 2,553,192,029 2,760,977,026
Dividend on Shares 64,917,053 47,669,521
On Other Investment 12,009,245 10,275,916
Profit on sale of investment (note 21.2) 740,123,989 1,861,772,484
3,370,242,316 4,680,694,947
Less: Interest Paid for Purchase of Treasury Bond 36,392,608 42,271,899
Less: Loss on Revaluation of HFT (MTM) T-Bond 228,323,850 2,887,395,174
LessL Loss on Revaluation of HTM (MTM) T-Bond - 125,380,989
Less: Adjustment of revaluation loss on securities-2024 3,790,876,398
4,055,592,856 3,055,048,062
Total (685,350,540) 1,625,646,885
-

| Annual Report 2024 149

 Amount of Taka
31.12.2024 31.12.2023

21.1 On Government Treasury Bill and Bond

Interest on GT bond 2,553,163,899 2,760,977,026
Interest on Reverse repo 28,130 -
Total 2,553,192,029 2,760,977,026

21.2 Profit/(Loss) on sale of investment (a+b+c) 740,123,989 1,861,772,484

21.2.1 Profit on sale of Share 12,423,217 -
Less: Loss on sale of Share - -
Net Profit/(Loss) (a) 12,423,217 -

21.2.2 Profit on sale of HFT & HTM Securities 3,205,006 17,768,982

Less: Loss on sale of HFT & HTM Securities - -
Net Profit/(Loss) (b) 3,205,006 17,768,982
21.2.3 Profit on Repo trading 895,764,836 2,281,073,864
Less: Loss on Repo trading 171,269,070 437,070,362
Total (c) 724,495,766 1,844,003,502

22. Commission, exchange and brokerage

Local Bill Purchased 4,491,749 3,540,339

Remittance 1,992,239 1,949,850
Letter of Guarantee 43,807,313 38,363,116
Letter of Credit 135,571,645 135,892,236
Bills for Collection 16,346,935 15,715,036
Acceptances and endorsement 54,840,614 54,692,451
Export Bill 14,632,542 15,988,498
Exchange gain net of exchange loss (22.1) 287,536,274 482,448,150
Commission on sale of instruments 2,500,098 9,865,810
Commission on online banking services 840,191 914,732
Other Commission 44,107,444 41,026,460
Miscellaneous 1,495 -
606,668,539 800,397,678
22.1 Exchange gain net of exchange loss
Exchange Earning 381,672,864 518,601,270
Less: Exchange Loss 94,136,590 36,153,120
287,536,274 482,448,150

23. Other operating income

Various Fees 8,696,105 11,234,218
Income on locker 1,516,000 1,416,400
Recoveries from client and staffs 37,611,771 40,717,406
Service and other Charges 60,194,866 61,082,640
Income from ICT services 15,395,775 16,799,634
Income from on-line client services 99,110 105,715
Recoveries of Loan Priviously Write Off 122,010,663 48,091,367
Income from ATM/Card services 9,310,339 8,650,049
Expoprt L/C advising, handling,transfer charges etc. 7,824,382 6,584,886
Supervision and Monitoring Fee 34,358,198 660,382,922
Net Profit on Sale of Fixed Assets (note 23.1) - 18,047,651
Miscellaneous income (note 23.2) 11,876,591 9,837,162
308,893,800 882,950,050

150 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023

23.1 Net Profit/(Loss) on sale of fixed assets:

Cost of assets sold 2,287,731 59,662,819
Less: Accumulated depreciation of assets sold 2,137,517 59,182,677
Book value of assets sold 150,214 480,142
Sale value of fixed assets sold 113,518 18,527,793
Profit/(Loss) on sale of fixed assets (36,696) 18,047,651

23.2 Miscellaneous Income:

Discount received 550 413,836
Project Examination and Appraisal Fee - 10,000
Other Operating Income 11,876,040 9,316,309
Other Non-operating Income - 97,017
11,876,590 9,837,162

24. Salary and Allowances

Salaries (note 24.1) 872,343,882 878,233,413
Allowances (note 24.2) 531,191,394 522,081,245
Provident Fund 48,810,027 70,225,024
Benevolent Fund 10,000,000 10,000,000
Gratuity Fund 105,000,000 159,779,322
EXP. FOR PENSION, DEATH CUM RETIREMENT BENEFIT (PDCRB) FUND 66,080,000 -
Bonus 154,583,103 155,084,160
Superannuation Fund 10,000,000 10,000,000
1,798,008,406 1,805,403,164
Note 24.1: Salaries:
Salary-Basic salary 846,006,366 854,061,991
Wages sub-staff 1,073,080 1,472,677
Casual wages menial staff 25,264,436 22,698,745
Total 872,343,882 878,233,413
Note 24.2: Allowances:
Allowances 508,588,421 492,017,975
Leave Fare Assistance 22,602,973 30,063,270
Total 531,191,394 522,081,245
25. Rent, Taxes, Insurance, Electricity Etc.
Rent 231,635,202 225,874,322
Rates, Taxes and VAT 4,360,764 3,931,361
Utilities/Electricity and Heating 48,518,050 47,374,273
Insurance 30,777,685 30,890,506
315,291,701 308,070,462

| Annual Report 2024 151

 Amount of Taka
31.12.2024 31.12.2023

26. Legal & Professional Expenses

Legal Expense (note 26.1) 9,882,962 23,048,633
Professional Fees (note 26.2) 1,350,765 824,601
11,233,727 23,873,234
26.1 Legal Expenses:
Lawyers fees 3,269,742 3,931,230
Law Charges 1,494,588 3,565,227
Stamp Charges and Court Fees 84,124 43,378
Other Legal expenses 5,034,508 15,505,998
Other Professional expenses - 2,800
9,882,962 23,048,633
26.2 Professional Expenses:
Consultancy Fee 1,248,640 504,620
Management fees - 101,000
Other Professional Fee 102,125 218,981
1,350,765 824,601
27. Postage, Stamps, Telecommunication Etc.
Postage 62,226 45,499
Courier Services 6,102,212 6,290,348
Telephone 2,952,824 3,128,257
Fax - 8,927
Swift Subscription and cable Charges and web hosting charge 16,203,159 7,714,345
Stamp 64,538 64,131
WEB-Hosting Charge 86,682 -
Internet and E-mail 226,890 238,534
25,698,531 17,490,041

28. Stationery, Printing, Advertisement Etc.

Printing Stationery 4,616,592 3,855,753
Security Stationery 4,082,932 5,076,285
Publicity, Advertisement and publication 1,905,923 1,357,885
Other Stationery (note 28.1) 27,368,663 24,966,656

37,974,110 35,256,579
28.1 Other Stationery
Office Stationary 8,509,881 8,059,672
Petty Stationary 94,533 92,424
Photograph and Photocopy 411,929 384,984
Crokery and utinsils 942,090 795,785
Other Stationary 13,378,865 12,259,113
Calendar 3,968,285 3,344,082
Other greeting items 57,750 29,596
Other printing expenses 5,330 1,000
Total 27,368,663 24,966,656

152 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023

29. Managing Director's Salary

Basic Salary 3,147,365 3,660,000
Allowances and Bonus (note: 29.1) 1,330,886 1,565,150
4,478,251 5,225,150

29.1 Managing Director's Alloawances and Bonus

House Rent 443,441 600,000
Medical 221,720 300,000
Entertainment - 800
Food Subsidy 27,800 43,200
Others 7,925 11,150
Total Allowances 700,886 955,150
Bonus 630,000 610,000
Total 1,330,886 1,565,150

30. Directors' Fees

Directors Honorarium* 2,278,000 2,224,000
VAT on Directors Honorarium 260,071 266,200
Chairman's Remuneration** 322,710 303,000
2,860,781 2,793,200
*Each member of the board of directors of the Bank was paid honorarium of Taka. 10,000/- per meeting effective from 20.02.2024.
Previous was 8000/- per meeting.
**Remuneration was paid to the honorable chairman of the board of directors of the Bank @ Taka. 50,000/- per month from the date
[Link] was Taka.30,000/- per month.

31. Depreciation of Bank's Assets

Depreciation on own Assets
Building 3,750,142 431,835
Furniture and Fixture 4,565,580 4,868,698
Interrior Decoration 15,812,170 17,011,927
Computer Hardware and Pheriperals 25,086,387 34,779,136
Computer Software 7,876,675 11,049,345
Machinery and Equipment 13,161,016 13,578,652

70,251,970 81,719,593
Depreciation on Leased Assets
Lease Equipment/ Assets 40,110 40,000
Total 70,292,080 81,759,593

32.
Repair of Bank's Assets
Furniture and Fixture 3,534,253 2,830,553
Interrior Decoration 91,412 146,940
Machinery and Equipment 10,605,180 11,258,092
Vehicles 6,904,633 9,256,309
Rented Premises 2,230,116 1,893,102
Electric Fittings 8,174,830 6,949,501
Others 3,824,517 2,719,498
35,364,941 35,053,995

| Annual Report 2024 153

 Amount of Taka
31.12.2024 31.12.2023

33. Other Expenses

Entertainment 40,895,842 37,708,589
Lunch subsidy allowance 79,921,330 85,325,850
Executive car allowance 61,717,819 55,808,497
Information and Communication Technology (ICT) expenses (note 33.1) 53,138,837 32,689,446
Incentive for Written-Off Loan Recovery 5,045,771 -
Security Service Allowance 1,967,980 -
Other Audit Fee (note 33.2) 120,750 57,500
Car Expenses (note 33.3) 11,196,213 12,194,387
Fuel and Lubricant Expenses-Generator (note 33.4) 4,252,668 4,493,622
Travelling 16,680,466 14,702,498
Computer consumables and Accessories 10,552,749 9,601,337
Staff Training and HR development Expenses 5,318,455 4,341,656
Card Related Expenses 18,461,219 14,642,938
Subscription 3,598,084 3,640,880
Service charge paid to clearing house, banks and others 1,917,429 2,056,707
Corporate Social Responsibility Expenses - 608,069
Commission paid to banks - 12,650
Donation 50,192 72,020
Exp.-Risk Fund for Accidental Cash Losses 5,000,000 -
Miscellaneous (note 33.5) 26,578,262 25,049,431
Total 346,414,066 303,006,077

33.1 Information and Communication Technology (ICT) expenses

Set-up charge 6,450 -
License fee 1,655,147 1,793,502
Internet charge 19,338,723 18,256,432
SMS alert charge 3,767,272 2,584,525
Mobile phone banking expenses 949,519 -
Software Maintenance Expenses 25,301,215 7,857,282
Hardware maintenance 2,080,200 913,600
ICT Auditing, Penetration Testing & Risk Management Services - 1,256,700
Other 40,311 27,405
Total 53,138,837 32,689,446
33.2 Other Audit Fee
PF audit 46,000 23,000
Various fund audit 51,750 -
Nostro account audit 23,000 34,500
Total 120,750 57,500

33.3 Car expenses:

Fuel and lubricant 6,275,740 6,653,021
CNG/POL-Vehicle 2,942,742 3,962,396
Vehicle expenses 1,977,731 1,578,970
Total 11,196,213 12,194,387

33.4 Fuel and Lubricant-Generator:

Fuel and Lubricant -Generator 4,201,373 4,467,900
Fuel and Lubricant-Others 51,295 25,722
Total 4,252,668 4,493,622

154 | Annual Report 2024

 Amount of Taka
31.12.2024 31.12.2023

33.5 Miscellaneous:
Expenses- Furniture & Fixtures 4,743 17,582
Expenses Equipment 169,397 465,665
Business promotion and development 1,361,475 1,223,774
Books,Journals and periodicals 3,637,154 2,092,449
Conveyance expenses 6,320 17,250
Expenses for multimedia 33,250 40,418
Transport expenses 49,660 67,223
Carrying Charges 185,360 105,280
Commitment and other fees 497,507 615,403
Remittance charges 19,410 75,854
Cartage and freight 70,668 74,405
Issue expenses 8,409 1,800
Interrior decoration expenses 691,969 634,846
AGM expenses - 92,147
Nostro account related expenses 3,301,694 3,245,495
Financial assistance expenses 164,800 140,915
Penalty/Fine Paid 5,814,928 5,968,947
Security Service Expense 8,899,871 7,796,649
Net Loss on sale of fixed assets (Note: 23.1) 36,696 -
Managers Conference Expenses 397,788 -
Capital related fees and charges - 1,504,886
Misc. expenses 1,227,163 868,443
Total 26,578,262 25,049,431
34. Provision made/Internal Transfer during the year:
a. For Loans & Advances:
On Classified Loans & Advances (Transferred from (186,018,287)
Note 13.1.1 104,620,977
Unclassified Loan prov. and made during the year)
On Unclassified Loans & Advances (Transferred from Special (1,539,930)
General Provision COVID-19 and to Specific Loan Loss Prov.) Note 13.1.2 100,556,184
Special General Provision-COVID 19
Note 13.1.3 (193,325,421) 187,558,217
(Transferred to Unclassified loan loss provision)
Sub-Total 11,851,740 -
a. For Off Balance Sheet items Note 13.2 14,300,594 43,194,912
b. For Other Assets: Note 13.3
i) Unadjusted suspense account-BSP (474,954) (1,937,017)
ii) Prov. made during the year [Link] Branch Adjustment - 8,267,500
A/cs_Shantinagar Br.
iii) Giga Tech Ltd._Adv. Bill 438,750 -
iv) Advance for RJSC for miscellaneous exp. 100,000 -
v) Advance TA/DA-Mr. Abdur Rob (ICTD) 6,500 -
vi) Advance against Professional Services 45,900 -
vii) Advance Security Deposit-Electricity 647,809 -
viii) Advance Security Deposit-Water 6,875 -
ix) Advance Security Deposit-Communication Link 49,245 -
x) Excess provision for Income Receivable not required (36,119,665) (236,867,326)
xi) Provision against Advance Legal Expenses 1,112,397 2,363,359
xii) Provision for protestted bill-Pay Order-Jessore Br. 4,185,000 -
xiii) Excess amount of Unadjusted suspense account- (1,281,585) (724,837)
Excise Duty not required
Total provision made for Other Assets (31,283,728) (228,898,321)
e. For Investment Note 13.4 157,229,117 (26,800,000)
f. For Balance with other Banks and Financial Institutions Note 13.5 - -
Total (a+b+c) 152,097,723 (212,503,409)

Provision has been maintained by the Bank in accordance with Bangladesh Bank's approval vide its Letter No. DOS(CAMS)
1157/41(Dividend)/2025-3095 dated 21 May 2025 and DOS(CAMS)1157/41(Dividend)/2024-1839 dated 30 April 2024 for the year 2024
and 2023.

| Annual Report 2024 155

 Amount of Taka
31.12.2024 31.12.2023
35. Provision for Current Tax

Opening balance 654,907,981 526,018,803

Add: Propvision made for current years' tax 123,380,848 288,799,777
778,288,829 814,818,580
Less: Adjustment made during the year 150,341,072 159,910,599
Closing balance 627,947,757 654,907,981
36. Deferred Tax
a) Computation of Deferred Tax
Tax Base of Depreciable Fixed Assets 364,328,988 375,888,350
Less: Carrying Amount 406,712,808 444,385,858
Deductable Temporary Difference (A) (42,383,820) (68,497,508)

Carrying Amount of Provision for Gratuity/Benevolent

/Superannuation Fund:
Provision for Gratuity (Cumulative Provision-Actual Payment) 2,280,618,996 2,198,630,948
Provision for Benevolent Fund (Cumulative Provision -actual payment) 56,580,536 56,882,962
Provision for Superannuation Fund (Cumulative Provision -actual payment) 58,979,165 55,791,165
2,396,178,697 2,311,305,075
Less: Tax Base
Deductable Temporary Difference (B) 2,396,178,697 2,311,305,075

Total Deductable Temporary Difference (A+B) 2,353,794,877 2,242,807,567

Effective Tax Rate 40.00% 40.00%
Deferred Tax Assets 941,517,951 897,123,027
b) Deferred Tax (Expenses)/Income
Closing Deferred Tax Assets ('C) 941,517,951 897,123,027
Opening Deferred Tax Assets (D) 897,123,027 889,645,255
Deferred Tax (Expenses)/Income ('C-D) 44,394,924 7,477,772

37. Appropriations
Statutory Reserve - -
General Reserve - -
Dividends etc. - -
- -
38. Analysis of Closing Cash and Cash Equivalent

Cash in hand and balance with Bangladesh Bank and Sonali Bank 9,008,558,333 9,143,834,663
Balance with other banks & financial institutions 1,157,484,425 1,784,241,675
Money at Call on Short Notice - -
10,166,042,758 10,928,076,338
39. Earning Per Share (EPS)
a) Earning Per Share (EPS)
Net Profit after Tax (Numerator) (8,630,944,013) (4,162,950,717)
Number of Ordinary Share Outstanding (Denominator) 1,084,698,250 1,084,698,250
Earning Per Share (EPS) (7.96) (3.84)
b) Diluted Earning Per Share (Diluted EPS)
Net Profit after Tax (Numerator) (8,630,944,013) (4,162,950,717)
Number of Ordinary Share Outstanding (Denominator) 3,684,698,250 3,684,698,250
Diluted Earning Per Share (Diluted EPS)* (2.34) (1.13)

*Earning Per Share (EPS) has been calculated considering Share Money Deposit of Taka 26,000,000,000 as Paid Up Capital of the Bank;
i.e. total Paid Up Capital of the Bank has been considered as Taka 36,846,982,500 and total number of share has been considered as
3,684,698,250 of Taka 10.00 each.
40. Coverage of External Audit
The external auditor has covered over 80% of the risk-weighted assets and have spent around 4,700 person hours to complete the audit
as per requirement of Bangladesh Bank. The external auditor has audited 36 branches and Head Office of the Bank.

Managing Director & CEO Director Director Chairman

Signed as per our annexed report on same date.

156 | Annual Report 2024

 NOSTRO Accounts - Outside Bangladesh

Annexure-A
2024 2023
A/C Currency
Name of the Bank Conv. Rate Conv. Rate
Type name Amount in FC Amount in BDT Amount in FC Amount in BDT
per unit FC per unit FC
1 Bank Of Tokyo Mitsubishi, London CD GBP - - - - 124.0551 -
2 AB Bank Mumbai CD ACU $ 184,220.74 119.4500 22,005,167 249,434.68 109.5500 27,325,569
3 Summit(Arif Habib) Bank Karachi CD ACU $ 1,103.25 119.4500 131,783 1,103.25 109.5500 120,861
4 Habib Metropolitan Bank Ltd., Pk CD ACU$ - - - - 109.5500 -
5 BOTM,Tokyo CD JPY 12,089,221.78 0.7570 9,151,541 632,020.78 0.7756 490,195
6 Mashreq Bank, NY CD USD - - - - 109.5500 -
7 Sonali Bank Kolkata CD ACU $ 221,769.33 119.4500 26,490,347 139,586.93 109.5500 15,291,748
8 Bank of Ceylon CD ACU $ 10,443.62 119.4500 1,247,490 10,443.62 109.5500 1,144,099
9 Citibank NA,NY (Exp) CD USD - 119.4500 - 3,653,349.96 109.5500 400,224,488
10 Sonali Bank Kolkata(EURO) CD ACU EURO 4,683.24 125.1120 585,930 4,683.24 122.2870 572,699
11 Mashreq Bank, Mumbai CD ACU$ - - - 647.13 109.5500 70,893
125.1120 4,967.48 607,458

| Annual Report 2024

12 Sonali London EUR CD EURO 21,260.49 2,659,942 122.2870
13 Sonali London GBP CD GBP 1,004.89 150.9720 151,710 5,132.71 140.9320 723,363
14 Sonali London USD CD USD 4,961.63 119.4500 592,667 4,961.63 109.5500 543,547
15 Aktif Yatrim Bankasi, Istanbul CD EURO 723,229.39 125.1120 90,484,676 116,563.37 122.2870 14,254,185
16 HDFC Bank Limited CD ACU $ 328,501.74 119.4500 39,239,533 192,251.57 109.5500 21,061,160
17 Punjab National Bank, India CD ACU $ 232,719.44 119.4500 27,798,337 - - -
18 United Bank of India, Mumbai CD ACU$ - - - 237,422.42 109.5500 26,009,626
19 Habib American Bank NY CD USD 478,096.91 119.4500 57,108,676 289,367.40 109.5500 31,700,199
20 Kookmin Bank Seoul CD USD 356,015.12 119.4500 42,526,006 266,763.57 109.5500 29,223,949
Total 320,173,805 569,364,039

As per Bangladesh Bank Circular No. FEPD(FEMO)/01/2005-677 dated 13th September 2005, the books of accounts of Nostro account are reconciled and there exist no un-reconciled entries that may affect
financial statements significantly.

157
158
Details of Investment in Shares as at December 31, 2024
Annexure-B
A. Listed Securities:
Dividend
Market Value as on Market Value as on Unrealized
Sl. Date of No of Face Value Cost Price Received
Name of the company 31-12-2024 31-12-2023 Gain/(Loss)
No. Purchase shares Taka Taka in 2023
Taka Taka Taka
Taka
1. ACME LABORATORIES LTD 26-Feb-17 557569 5,575,690 62,650,655 41,873,432 47,393,365 (20,777,223) 1,839,977.70
2. APPOLO ISPAT COMPLEX LTD. 20-Aug-14 1988098 19,880,980 36,441,836 6,958,343 16,302,404 (29,483,493) -
3. BATA SHOES (BD) LTD. 17-Feb-19 5688 56,880 4,665,972 5,149,915 5,499,727 483,943 247,428.00
4. BERGER PAINTS BANGLADESH LTD. 14-Feb-17 11567 115,670 20,588,047 21,085,484 20,519,858 497,437 578,350.00
5. BRAC BANK PLC 3-Jan-19 - - - - 32,712,250 - 127,889.00
6. BRITISH AMERICAN TOBACCO BD. LTD. 14-Feb-19 113080 1,130,800 69,015,167 41,568,208 58,654,596 (27,446,959) 1,130,800.00
7. BSRM STEELS LTD. 10-Dec-13 699359 6,993,590 59,135,367 35,527,437 44,689,040 (23,607,930) 1,748,397.50
8. THE CITY BANK PLC 19-Jan-21 757350 7,573,500 16,673,340 16,964,640 14,733,900 291,300 -
9. DELTA LIFE INSURANCE COM. LTD 31-Aug-23 20000 200,000 2,743,125 1,596,000 2,730,000 (1,147,125) 300,000.00

10. DHAKA ELECTRIC SUPPLY CO. LTD. 8-Dec-10 504658 5,046,580 29,481,985 11,657,600 18,470,483 (17,824,385) -
11. EASTERN BANK PLC 8-Dec-10 7193894 71,938,940 25,447,136 177,689,182 188,000,446 152,242,046 7,993,216.25
12. FEDERAL INSURANCE COMPANY LTD. 17-Jun-21 30000 300,000 1,158,633 546,000 735,000 (612,633) 30,000.00
13. GRAMEEN PHONE LTD. 11-Jul-18 128,152 1,281,520 47,008,305 41,405,911 36,728,363 (5,602,394) 3,652,332.00

14. HEIDELBERG CEMENT BD. LTD. 8-Dec-10 169206 1,692,060 89,579,397 37,479,129 40,524,837 (52,100,268) 423,015.00
15. I.D.L.C FINANCE LTD. 26-May-15 497558 4,975,580 37,042,040 16,270,147 23,136,447 (20,771,893) 746,337.00
16. IFAD AUTOS LTD. 7-Jan-19 318688 3,186,880 21,434,200 6,564,973 13,915,005 (14,869,227) 315,533.00
17. ICB ISLAMI BANK LTD. 23-May-08 2684000 26,840,000 26,840,000 8,052,000 14,493,600 (18,788,000) -
18. IFIL ISLAMIC MUTUAL FUND-1 2-Dec-15 7534390 75,343,900 66,634,688 35,411,633 52,740,730 (31,223,055) -
19. JAMUNA OIL COMPANY LTD. 21-Sep-11 254352 2,543,520 52,902,154 43,595,933 42,858,312 (9,306,221) 3,306,576.00
20. LAFARGEHOLCIM BANGLADESH LTD. 10-Dec-13 141000 1,410,000 11,011,677 7,599,900 9,771,300 (3,411,777) 705,000.00
21. LANKA BANGLA FINANCE LTD 386114 3,861,140 13,932,408 7,181,720 10,038,964 (6,750,688) 386,114.00
22. LINDE BANGLADESH LIMITED 3-Feb-16 35000 350,000 51,162,165 35,682,500 28,373,310 (15,479,665) 17,476,200.00
23. MEGHNA PETROLEUM LTD. 23-Nov-10 188157 1,881,570 38,458,375 36,935,219 37,367,980 (1,523,156) 3,010,512.00
24. MERCENTILE BANK LIMITED 6-Nov-16 1018336 10,183,360 17,647,326 10,488,861 13,543,869 (7,158,465) 1,018,336.00
25. MJL BANGLADESH LTD. 31-May-15 325191 3,251,910 35,688,341 30,600,473 28,194,060 (5,087,868) 1,625,955.00

26. NCC BANK PLC 26-Dec-10 854274 8,542,740 12,709,773 9,226,159 11,190,989 (3,483,614) 1,025,128.80
27. NAVANA CNG LTD. 31-Oct-01 285500 2,855,000 20,501,521 6,709,250 6,994,750 (13,792,271) 285,500.00
28. OLYMPIC INDUSTRIES LTD. 19-Oct-15 197457 1,974,570 57,244,899 31,198,206 30,013,464 (26,046,693) 1,184,742.00

| Annual Report 2024

 Dividend
Market Value as on Market Value as on Unrealized
Sl. Date of No of Face Value Cost Price Received
Name of the company 31-12-2023 31-12-2022 Gain/(Loss)
No. Purchase shares Taka Taka in 2023
Taka Taka Taka
Taka

29. ONE BANK PLC 28-Jul-11 1839249 18,392,490 31,574,817 15,633,617 16,882,004 (15,941,200) 621,976.40
30. PADMA OIL COMPANY. 2-Oct-14 192180 1,921,800 48,359,155 36,264,366 40,204,056 (12,094,789) 2,594,430.00
31. PRIME BANK PLC 14-Jun-17 1047796 10,477,960 26,285,744 24,518,426 22,003,716 (1,767,318) 1,833,643.00
32. RENATA (BD) LTD. 10-Feb-19 25363 253,630 31,156,969 16,108,041 30,889,598 (15,048,928) 158,518.75
33. ROBI AXIATA LIMITED 26-Nov-20 240000 2,400,000 2,400,000 6,792,000 7,200,000 4,392,000 240,000.00
34. SOUTHEAST BANK PLC 18-Apr-12 1298039 12,980,390 19,399,565 11,682,351 16,599,930 (7,717,214) 748,874.62
35. SQUARE PHARMACEUTICALS LTD. 11-Jul-18 255651 2,556,510 59,712,248 55,655,223 53,763,405 (4,057,025) 2,684,335.50
36. TITAS GAS TRANSMISSION & D.C.L 26-Dec-10 1385908 13,859,080 81,813,385 28,965,477 56,683,637 (52,847,908) 692,954.00
37. UNILIVER CONSUMER CARE LIMITED 16-Sep-20 14478 144,780 25,791,494 36,914,557 29,334,938 11,123,063 435,840.00
38. UTTARA FINANCE & INVEST. LTD 24-Mar-15 279219 2,792,190 19,674,038 4,439,582 9,437,602 (15,234,456) -

| Annual Report 2024

Sub-Total (A) 33,476,521 34,765,210 1,273,965,947 961,991,895 1,133,325,935 (311,974,052) 59,167,912

B. Non-Listed, De-Listed & Preference Shares:

Dividend
Market Value as on Market Value as on
Sl. Date of No of Total Cost/ Unrealized Received
Name of the company Face Value 31-12-2023 31-12-2022
No. Purchase shares Book Value Gain/(Loss) in 2023
Taka Taka
Taka
1. BANGLADESH DEVELOPMENT [Link]. 19-Jul-11 74,500 7,450,000 7,450,000.00 7,450,000 7,450,000 - 100,000.00

2. CENTRAL DEPOSITORY BANGLADESH LTD. 23-Jun-02 1,142,361 11,423,610 3,138,890.00 3,138,890 3,138,890 - 2,284,722.00

3. EQUITY OF GRAMEEN IT PARK 1-Feb-01 42,018 4,201,800 4,201,760.00 4,201,760 4,201,760 - -

4. KARMASANGSTHAN BANK 15-Mar-99 150,000 15,000,000 15,000,000.00 15,000,000 15,000,000 - -

5. ICB AMCL 2ND MUTUAL FUND 11-Apr-16 3364419 33,644,190 33,644,190 35,326,400 35,326,400 1,682,210 3,364,419.00

Sub-Total (B) 4,773,298 71,719,600 63,434,840 65,117,050 65,117,050 1,682,210 5,749,141

Grand Total (A+B) 38,249,819 406,484,810 1,337,400,787 1,027,108,945 1,198,442,985 (310,291,843) 64,917,053

159
 Annexure - C

Detail of information on advances exceeding 10% of bank's paid-up capital (funded & non-funded):
(Taka in Lac)

Outstanding as on 31.12.2024
Sl. Outstanding as CL status as on
Name of the Client Non
No. Funded Total on 31.12.2023 31.12.2024
funded
1 AMADER BARI LIMITED GROUP 68,316 - 68,316 65,563 BL
2 ALI GROUP 32,386 - 32,386 32,386 BL
3 WELL TEX 24,589 18.00 24,607 24,648 BL
4 DHAKA CITY DEVELOPMENT LTD. 24,050 - 24,050 24,100 BL
5 EMERALD GROUP 23,633 - 23,633 23,633 BL
6 BANGLADESH DEVELOPMENT CO. LTD. 22,531 - 22,531 22,663 BL
7 MAX SWEATER (BD) LTD. 14,343 8,532.00 22,875 21,754 UC
8 AB GROUP 11,951 4,863.00 16,814 19,251 UC
9 NILSAGOR AGRO INDUSTRIES LTD 18,722 - 18,722 18,722 BL
10 Aristocrat 16,949 - 16,949 16,949 BL
11 FEAZ GROUP 16,896 - 16,896 16,904 BL
12 Mymco Group 16,142 - 16,142 16,230 BL
13 Vasavi, Tahmina & Water Heaven Group 14,998 24.00 15,022 15,022 BL

14 AJBIHA, YOUTH 14,349 - 14,349 14,349 BL

15 RISING GROUP 13,502 38.00 13,540 13,532 BL
16 BASHER GROUP 13,306 - 13,306 13,306 BL
17 R.I. ENTERPRISE 13,174 - 13,174 13,174 BLW
18 CRYSTAL STEEL & SHIP BREAKING LTD. 13,165 - 13,165 13,165 BL

19 DELTA SYSTEMS LIMITED 12,804 - 12,804 12,804 BLW

20 ZEIL WEARS LIMITED 12,700 - 12,700 12,700 BL

21 EMERALD 12,127 18.00 12,145 12,145 BL

22 MAP & MULLER GROUP 12,133 - 12,133 12,133 BL
23 REGENT WEAVING LTD 11,707 1.00 11,708 11,707 BL
24 IG NAVIGATIONS LIMITED 11,689 - 11,689 11,689 BL
25 BAY NAVIGATION LIMITED. 11,537 - 11,537 11,537 BL
26 KAZI SOBHAN GROUP 11,599 - 11,599 11,396 UC
27 PROFUSION TEXTILES LIMITED. 11,306 - 11,306 11,306 BLW

28 MA TEX 11,122 - 11,122 11,122 BLW

29 PD, SPDSP, WZPDCL, KHULNA - - - -
TOTAL 491,726 13,494 505,220 503,891

Note 1: In 2024 and 2023, capital of the Bank was negative. As such, loans allowed to customers/customers group exceeding 10% of
paid-up capital of the Bank has been reported here in line with Bangladesh Bank's approval.

160 | Annual Report 2024

 Annexure-D

Schedule of Fixed Assets As of 31 December 2024

Cost Price Depreciation

Disposal/ Written Down
Particulars Balance Disposal Balance Rate Balance Addition Balance Value as at
Addition Adjustment
as at during the as at of as at during the as at 31.12.2024
during the year during the
01.01.2024 year 31.2.2024 Dep. 01.01.2024 year 31.12.2024
year

Building-Office 125,095,000 - - 125,095,000 3% 431,835 3,750,142 - 4,181,977 120,913,023

Furniture and Fixtures 135,395,055 1,196,629 159,715 136,431,969 10% 90,348,821 4,565,580 152,687 94,761,714 41,670,255

Interrior Decoration 391,491,450 5,599,553 237,854 396,853,149 10% 235,240,378 15,812,170 173,238 250,879,310 145,973,839

Machinery and Equipment 388,561,113 13,631,625 1,548,750 400,643,988 20% 328,877,934 13,161,016 1,470,213 340,568,737 60,075,251

| Annual Report 2024

Computer Hardware 485,181,302 8,920,328 341,412 493,760,218 20% 434,565,257 25,086,387 341,379 459,310,265 34,449,953

Software 150,638,583 3,381,000 - 154,019,583 20% 142,512,486 7,876,675 - 150,389,161 3,630,422

Motor Vehicles 239,340,197 - - 239,340,197 25% 239,340,132 - - 239,340,132 65

Leasehold Assets 4,000,000 - - 4,000,000 1% 1,126,525 40,110 - 1,166,635 2,833,365

Total 2024 1,919,702,700 32,729,135 2,287,731 1,950,144,104 1,472,443,368 70,292,080 2,137,517 1,540,597,931 409,546,173

Total 2023 1,815,328,002 164,037,518 59,662,819 1,919,702,701 1,449,866,453 81,759,592 59,182,677 1,472,443,368 447,259,333

161
 Annexure-E

Highlights on the overall activities of the Bank

Sl No. Particulars 2024 2023

1 Paid up Capital 10,846,982,500 10,846,982,500

2 Total Capital (15,052,284,785) (6,313,400,205)

3 Capital Surplus/(Deficit) (33,636,950,639) (25,149,468,750)

4 Total Assets 148,351,320,613 168,181,444,984

5 Total Deposits 135,529,279,823 146,933,936,813

6 Total Loans and Advances 128,889,061,260 131,524,829,699

7 Total Contingent Liabilities and Commitments 17,288,835,358 15,858,475,976

8 Credit - Deposit Ratio 93.47% 88.20%

9 Percentage of Classified Loans against total Loans & Advances 68.55% 63.35%

10 Profit (Loss) after Tax and Provision (8,630,944,013) (4,162,950,717)

11 Amount of Classified Loans and Advances 88,355,704,338 83,327,479,373

12 Provision Kept against Classified Loan 5,115,820,923 5,011,199,946

13 Provision Surplus/(deficit) - -

14 Cost of Fund 8.88% 7.39%

15 Interest Earning Assets 46,700,689,344 70,820,003,594

16 Non-interest Bearing Assets 101,650,631,269 97,361,441,390

17 Return on Investment (ROI)* -104.66% -270.97%

18 Return on Assets (ROA) -5.45% -2.39%

19 Incomes on Investment (685,350,540) 1,625,646,885

20 Earnings Per Share (EPS) (7.96) (3.84)

21 Diluted Earnings Per Share (Diluted EPS) (2.34) (1.13)

22 Net Income Per Share (7.96) (3.84)

23 Price Earning Ratio** N/A N/A

162 | Annual Report 2024

 List of Executives

Sl. Staff No. Employee Name Designation

1 3196 Md. Quamruzzaman Khan Managing Director & CEO

2 1537 Abu Md. Mofazzal Deputy Managing Director

3 3198 Subhash Chandra Das FCMA, FCA Deputy Managing Director

4 1201 Md. Ismail General Manager

5 1218 Md. Momenul Hoque General Manager

6 1411 Md. Nashir Uddin General Manager

7 1415 Sumit Ranjan Nath General Manager

8 1482 Md. Hasan Imam General Manager

9 3192 Dulon Kanti Chakraborty General Manager

10 1101 Md. Ghulam Sayeed Khan General Manager

11 1470 Saidur Rahman Sohel General Manager

12 1022 Nurur Rahman Chowdhury General Manager (Current Charge)

13 1474 Md. Fida Hasan Deputy General Manager

14 1307 Mahbub Alam Khan Deputy General Manager

15 1967 Helena Perveen Deputy General Manager

16 1977 Mohammad Musa Khan Deputy General Manager

17 1472 Niaz Musawwir Shah Deputy General Manager

18 1444 Abdus Sabur Deputy General Manager

19 1515 Md. Ashrafuzzaman Deputy General Manager

20 1521 Mohammad Al- Amin Deputy General Manager

21 1522 A.M. Shahed Husain Deputy General Manager

22 1524 Md. Khosh Newaz Deputy General Manager

23 1526 Shakir Mahmud Sharafuddin Deputy General Manager

24 1530 Md. Mahmud Hasan Deputy General Manager

25 1984 Jahir Uddin Ahmed Deputy General Manager

26 1733 Md. Nurul Islam Deputy General Manager

| Annual Report 2024 163

 List of Executives

Sl. Staff No. Employee Name Designation

27 1583 Md. Helal Uddin Deputy General Manager

28 1395 Muhammad Imrul Islam Deputy General Manager

29 1404 Mohammad Didarul Alam Deputy General Manager

30 1416 Palash Das Gupta Deputy General Manager

31 1069 Faisal Shah Qureshi Deputy General Manager

32 1531 Md. Rezaul Alam Deputy General Manager

33 2281 Md. Nasir Uddin Deputy General Manager

34 1409 Dominic Sampson Deputy General Manager

35 1689 Shehab Chowdhury Deputy General Manager

36 1650 Golam Kabir Deputy General Manager

37 1555 Mohammad Mahmudul Hasan Deputy General Manager

38 1459 Sahidul Alam Mohammad Kabir Deputy General Manager

39 1632 Abul Kalam Md. Shumsuddin Deputy General Manager

40 1628 Shafi Ahamad Deputy General Manager

41 1625 Md. Khalekuzzaman Talukder Deputy General Manager

42 1968 Syed Abdullah-Al-Zaman Deputy General Manager

43 2901 Nitul Kanti Saha Deputy General Manager

44 1565 Md. Golam Ershad Deputy General Manager

45 1614 Md. Mamunur Rahman Deputy General Manager

46 1392 Md. Mafizur Rahman Talukdar Deputy General Manager

47 1619 Mohammad Nazmul Islam Deputy General Manager

48 1648 Dilruba Nusrat Deputy General Manager

49 1542 Md. Anwar Hossain Rubel Deputy General Manager

50 2746 Md. Taslim Uddin Deputy General Manager

51 2747 S. M. Zahid Hassan Sayed Deputy General Manager

52 2850 S. M. Hasibur Rahman Deputy General Manager

164 | Annual Report 2024

 List of Executives

Sl. Staff No. Employee Name Designation

53 1622 Afroza Haque Jolly Deputy General Manager

54 1233 Md. Salequr Rahman Deputy General Manager

55 1558 Mohammad Jasim Uddin Deputy General Manager

56 1557 Chowdhury Tanbir Ahmed Deputy General Manager

57 1551 Farbina Rahman Deputy General Manager

58 1988 Md. Kamrul Islam Assistant General Manager

59 1981 S.M. Anisuzzaman Assistant General Manager

60 1975 Sadia Akhter Shahin Assistant General Manager

61 1249 A.S.M. Anisur Rahman Choudhury Assistant General Manager

62 1484 Md. Ekhwanul Islam Assistant General Manager

63 1563 Iftekhar Ahmed Assistant General Manager

64 1824 Rabiul Hossain Chowdhury Assistant General Manager

65 2400 Md. Abu Sahid Assistant General Manager

66 1287 Md. Shariful Islam Assistant General Manager

67 1227 Md. Raihan Ali Assistant General Manager

68 1234 Md. Mahbubor Rahman Assistant General Manager

69 2749 Md. Rakibul Hassan Assistant General Manager

70 1108 Sk. Mahfuzur Rahman Assistant General Manager

71 1178 Syed Md. Humayun Kabir Assistant General Manager

72 1169 Mashiur Rahman Assistant General Manager

73 1153 Md. Abul Hossain Assistant General Manager

74 1170 Md. Mominul Haque Chowdhury Assistant General Manager

75 1237 Md. Masud Hasan Assistant General Manager

76 1688 Md. Shamim Khan Assistant General Manager

77 1541 Md. Ahsanul Mamun Chowdhury Assistant General Manager

78 1424 Mohammad Shafiqul Alam Assistant General Manager

| Annual Report 2024 165

 List of Executives

Sl. Staff No. Employee Name Designation

79 1185 Imrul Islam Assistant General Manager

80 1019 Md. Khalilur Rahman Bhuiyan Assistant General Manager

81 1145 Abu Musa Md. Golam Mostafa Assistant General Manager

82 1152 Md. Nazir Uddin Ahamad Assistant General Manager

83 1164 Majir Uddin Ahmed Chowdhury Assistant General Manager

84 1216 Md. Fazlul Karim Assistant General Manager

85 1259 Md. Jalal Uddin Assistant General Manager

86 1280 Rumana Ahad Assistant General Manager

87 1979 Mia Muhammad Mustafiz Munir Assistant General Manager

88 2454 Md. Anower Ul Haq Assistant General Manager

89 1613 Mohammad Anisur Rahman Assistant General Manager

90 1615 Mohammad Tariqul Islam Assistant General Manager

91 1618 Mohammad Majadul Haque Chowdhury Assistant General Manager

92 1620 A.H.M. Mazadur Rahaman Assistant General Manager

93 1624 Saifuna Begum Assistant General Manager

94 1629 Kazi Reza Azmin Rashid Assistant General Manager

95 1630 Sazzad Hossain Assistant General Manager

96 1652 Abu Saleh Mohammad Mahbubul Amin Assistant General Manager

97 1105 Md. Zahadul Hoque Assistant General Manager

98 1038 Md. Anwar Hossain Assistant General Manager

99 1236 Md. Dulal Hossain Assistant General Manager

100 2735 Md. Matiur Rahman Assistant General Manager

101 2752 Md. Khorshed Alam Assistant General Manager

102 2759 Masud Reza Mohammad Amanul Bari Assistant General Manager

103 2829 Mohammad Ishtiaque Azad Assistant General Manager

104 1856 Md. Habibur Rahman Assistant General Manager

166 | Annual Report 2024

 List of Executives

Sl. Staff No. Employee Name Designation

105 2277 Pritish Kanti Mallick Assistant General Manager

106 2032 Nasrin Khanam Assistant General Manager

107 1799 Muhammad Kabir Hossain Assistant General Manager

108 1456 Mohammad Jobaidul Alam Assistant General Manager

109 1781 Dinu Pramanik Assistant General Manager

110 1852 Sk. Jalal Md. Khalid Bin Hafiz Assistant General Manager

111 1849 Sumon Roy Assistant General Manager

112 1863 Md. Asraful Alam Sardar Assistant General Manager

113 2060 K. M. Wahidul Islam Assistant General Manager

114 1383 Khaled Md. Aktharul Haq Khan Assistant General Manager

115 1439 Tanvir Shahajada Assistant General Manager

116 1790 Md. Akther Hossain Assistant General Manager

117 1784 Md. Zahedur Rahman Assistant General Manager

118 1970 Md. Khademul Islam Assistant General Manager

119 1265 Dewan Erfan Ahmed Assistant General Manager

120 1971 Md. Kamruzzaman Halder Assistant General Manager

121 1668 Mohammad Rafiqul Islam Assistant General Manager

122 1836 Mohammad Mostakim Billah Assistant General Manager

123 1782 Sk. Minhaj Uddin Ahmed Chy. Assistant General Manager

124 1774 Md. Sirajaum Munir Assistant General Manager

125 1838 Shah Md. Nazmus Sakib Assistant General Manager

126 1793 Shoriful Islam Assistant General Manager

127 1779 Farid Ahamed Assistant General Manager

128 1792 Sabrina Sharmin Assistant General Manager

129 1462 Nurul Afchar Assistant General Manager

130 1857 M. Baizid Alam Assistant General Manager

| Annual Report 2024 167

 List of Executives

Sl. Staff No. Employee Name Designation

130 1857 M. Baizid Alam Assistant General Manager

131 2742 Md. Ataur Rahman Assistant General Manager

132 1846 Md. Aminul Haque Assistant General Manager

133 1787 Mohammad Abdul Hannan Assistant General Manager

134 2760 Sudeb Kumar Biswas Assistant General Manager

135 1866 Ahsan Ferdows Assistant General Manager

136 1497 Mortuja Jahangir Assistant General Manager

137 2843 Kazi Mohammad Ashraful Alam Assistant General Manager

138 1854 Md. Nasir Uddin Assistant General Manager

139 1976 Muhammad Maher Ali Assistant General Manager

140 1695 Mohammad Morshedul Alam Assistant General Manager

141 1478 Md. Muktear Foysal Assistant General Manager

142 1238 Abdul Basith Mohammod Shoaib Assistant General Manager

143 1778 Mohammad Mohiuddin Assistant General Manager

144 1845 Md. Rezaur Rahman Assistant General Manager

145 1321 Emran Hossain Assistant General Manager

146 2818 Md. Rashedul Haque Assistant General Manager

147 1786 Mohammad Saiful Islam Assistant General Manager

148 1323 Ilora Das Purkayastha Assistant General Manager

149 1419 Kanez Fatema Assistant General Manager

150 2063 Md. Ghulam Shafi Khan Assistant General Manager

151 1504 Md. Mosharrof Hossain Assistant General Manager

152 1862 Shakhawat Hossen Assistant General Manager

153 1835 Hossain Ahmed Assistant General Manager

168 | Annual Report 2024

 List of Executives

Sl. Staff No. Employee Name Designation

154 1503 Mohammad Manir Hossain Assistant General Manager

155 2935 Motier Rahman Assistant General Manager

156 1452 Shamsher Mahmud Assistant General Manager

Information & Communication Technology

Sl. Staff No. Employee Name Designation

1 1950 Md. Abdul Alim Assistant General Manager (ICT)

2 1941 Sk. Md. Emran Ali Assistant General Manager (ICT)

3 1274 Kazi Mahmud Riaz Assistant General Manager (ICT)

| Annual Report 2024 169

 Address of Head Office and Division

SENA KALYAN BHABAN MONITORING DIVISION

195 Motijheel C/A, Dhaka-1000 Gause-Pak Biponi Bitan (11th Floor)
Tel: 02-223359185-86,02-223388190 28/G/1, Toyenbee Circular Road
SWIFT: BKSIBDDH Motijheel C/A, Dhaka-1000
Head Office Code: 01 Tel: 02-47119578, 47119579, 47119583
E-mail: basicho@[Link] basicmnd@ [Link]

ICT DIVISION SECURITY MANAGEMENT DIVISION

Peoples Insurance Bhaban (5th Floor) Gause-Pak Biponi Bitan (10th Floor)
36, Dilkusha Commercial Area 28/G/1, Toyenbee Circular Road
Dhaka-1000 Motijheel C/A, Dhaka-1000
Tel : 02-223382960, 02-9515973 Tel: 02-47119581
02-9515320, 02-223385087 Email:smd@[Link]
Email: basicitd@ [Link]

BASIC BANK TRAINING INSTITUTE (BBTI) ANTI-MONEY LAUNDERING DIVISION

Gause-Pak Biponi Bitan (10th Floor) Gause-Pak Biponi Bitan (11th Floor)
28/G/1, Toyenbee Circular Road 28/G/1, Toyenbee Circular Road
Motijheel C/A, Dhaka-1000 Motijheel C/A, Dhaka-1000
Tel: 02-47119578, 47119579, 47119584 Tel: 02-41070468-69
E-mail: basicti@[Link] Email: basicamld@[Link]

Audit and Inspection Division (AID) MANAGEMENT INFORMATION SYSTEM DIVISION

Gause-Pak Biponi Bitan (11th Floor) Gause-Pak Biponi Bitan (11th Floor)
28/G/1, Toyenbee Circular Road 28/G/1, Toyenbee Circular Road
Motijheel C/A, Dhaka-1000 Motijheel C/A, Dhaka-1000
Tel: 02-47119578, 47119579, 47119582 Tel: 02-41070470
E-mail: basicaid@[Link] Email:basicmis@[Link]

Compliance Division (CD) RISK MANAGEMENT DIVISION

Gause-Pak Biponi Bitan (11th Floor) Gause-Pak Bipni Bitan (11th Floor)
28/G/1, Toyenbee Circular Road 28/G/1, Toyenbee Circular Road
Motijheel C/A, Dhaka-1000 Motijheel C/A, Dhaka-1000
Tel: 02-47119578, 47119579, 47119580 Tel: 02-41070652-53
Email: basiccd@[Link]

170 | Annual Report 2024

 Address of Head Office and Division

Card Division Trade Finance Division (TFD)

14, Dilkusha Commercial Area Gause-Pak Biponi Bitan (10th Floor)
Dilkusha, Dhaka-1000 28/G/1, Toyenbee Circular Road
Phone: 02-47118959, 02-47118961 Motijheel C/A, Dhaka-1000
Email:basiccard@[Link] Phone:02-41071157
Email: basicid@[Link]

Legal Issues Division (LID) BRANDING & CORPORATE COMMUNICATION DIVISION (BCCD)
Gause-Pak Biponi Bitan (11th Floor) Gause-Pak Biponi Bitan (11th Floor)
28/G/1, Toyenbee Circular Road 28/G/1, Toyenbee Circular Road
Motijheel C/A, Dhaka-1000 Motijheel C/A, Dhaka-1000
E-mail:basiclid@[Link] Tel: 02-41071156
Email basicbccd@ [Link]

RESEARCH & DEVELOPMENT DIVISION (R&DD) AGRICULTURE, MICRO CREDIT & SPECIAL FINANCE DIVISION (AMCSFD)
Gause-Pak Biponi Bitan (11th Floor) Gause-Pak Biponi Bitan (11th Floor)
28/G/1, Toyenbee Circular Road 28/G/1, Toyenbee Circular Road
Motijheel C/A, Dhaka-1000 Motijheel C/A, Dhaka-1000
Email:basicrdd@ [Link] Email:basicamcsfd@[Link]

SMALL ENTERPRISE FINANCE DIVISION (SEFD) CREDIT RISK MANAGEMENT DIVISION (CRMD)
Gause-Pak Biponi Bitan (11th Floor) Gause-Pak Biponi Bitan (11th Floor)
28/G/1, Toyenbee Circular Road 28/G/1, Toyenbee Circular Road
Motijheel C/A, Dhaka-1000 Motijheel C/A, Dhaka-1000

Back Office Division(BOD)

Gause-Pak Biponi Bitan (10th Floor)
28/G/1, Toyenbee Circular Road
Motijheel C/A, Dhaka-1000
basicbod@[Link]

| Annual Report 2024 171

 Address Of Branches

DHAKA DIVISION

MAIN BRANCH NARSINGDI BRANCH

Bana Shilpa Bhaban (Ground floor) Holding No.513, Sutapatti Road
73, Motijheel C/A, Dhaka-1000 Narshingdi-1600
Tel: 02-223383068-69,02- 223389417, 02-223353191 Tel: 02-224452445, 02-224453145
SWIFT: BKSIBDDH002 02-224451631
Branch Code: 02 Branch Code: 19
E-mail: main@[Link] E-mail: narsingdi@[Link]

BANGSHAL BRANCH GULSHAN BRANCH

230, North South Road 33, Gulshan Commercial Area
Bangshal, Dhaka-1100 Gulshan South Avenue, Gulshan-1, Dhaka
Tel: 02-41053222-225 Tel: 02-41087123-27
SWIFT: BKSIBDDH006 SWIFT: BKSIBDDH021
Branch Code: 06 Branch Code: 21
E-mail: bangshal@[Link] E-mail: gulshan@[Link]

SHANTINAGAR BRANCH MIRPUR BRANCH

Green City Regency (1st floor) BSCIC Electronics Complex, Industrial Plot No.
26,27,27/1 Kakrail 1/1, Section-7, Avenue-4, Road No. 3
Dhaka-1217 Pallabi, Dhaka-1221
Tel: 02-222223062-64,02-222223066-67 Tel: 02-48033320-21,02-48034903
SWIFT: BKSIBDDH009 SWIFT: BKSIBDDH022
Branch Code: 09 Branch Code: 22
E-mail:shantinagar@[Link] E-mail: mirpur@[Link]

MOULVIBAZAR BRANCH BABUBAZAR BRANCH

Gulbadan Market (1st Floor) Hajee Yusuf Mansion (1st floor)
4, Moulvibazar, Dhaka-1211 56 Mitford Road, Babubazar, Dhaka-1100
Tel: 02-57315356,02-5 7316991 Tel: 02-57391335, 02-57393875
SWIFT: BKSIBDDH024 SWIFT: BKSIBDDH023
Branch Code: 10 Branch Code: 23
Email:moulvibazar@[Link] E-mail: babubazar@[Link]

TANBAZAR BRANCH UTTARA BRANCH

55/21, S.T.S Tower, S.M Maleh Road Plot No. 67/A (1st floor), Rabindra Saroni
Tanbazar, Narayanganj-1400 Sector-7, Uttara Model Town, Dhaka-1230.
Tel: 02-47650360, 02-47650361,02-47650363 Tel: 02-48951031,48950032, 7911303
SWIFT: BKSIBDDH014 Branch Code: 26
Branch Code: 14 E-mail: uttara@[Link]
E-mail: tanbazar@[Link]

172 | Annual Report 2024

 Address Of Branches

DHAKA DIVISION

DILKUSHA BRANCH DHANMONDI BRANCH

14, Dilkusha C/A, Dhaka-1000 Kashba Center , House No.5/2, Road No.-4
Tel: 02-223383793-94, 02-223390712 Mirpur Road, Dhanmondi Dhaka-1209
SWIFT: BKSIBDDH015 Tel: 02-9611560, 02-9614892, 02-58611669
Branch Code: 15 Branch Code: 28
E-mail: dilkusha@[Link] E-mail: dhanmondi@[Link]

MADHABDI BRANCH KARWAN BAZAR BRANCH

Holding no: 248/1, N.D. Tower Latif Tower, 47 Karwan Bazar
Algi Road, Kashipur,Narsingdi-1604 Dhaka-1215
Tel: 02-224457218, 02-224457220 Tel: 02-55011622, 02-55011623,02-48120259
02-224457219 Branch Code: 31
Branch Code: 37 E-mail: karwanbazar@[Link]
E-mail: madhabdi@[Link]

GAZIPUR CHOWRASTA BRANCH BASHUNDHARA BRANCH

Kafil Uddin Complex (1st floor & 2nd floor) Sayed Ali Super Market,
Gazipur Chowrasta Holding No. KA-11, 2D Jagannatpur
Mymensingh Road, Gazipur Bashundhara Road, P.S Vatara, Dhaka.
Tel: 02-224423490,02-224423491 Tel: 02-8419650, 8419657, 8419658
Branch Code: 33 Branch Code: 49
Email:gazipurchowrasta@[Link] E-mail:bashundhara@[Link]

TUNGIPARA BRANCH KOTALIPARA BRANCH

220, Poura Super Market, Patgati Bazar Holding Bo.281
Tungipara, Gopalganj Haji Tayob Ali Daria Super Market, Ghagore
Tel: 02-224456296, 02-224456297 Bazar, Main Road, Kotalipara, Gopalganj
Branch Code: 34 Tel: 02-478823025,02-478823026
E-mail: tungipara@[Link] Branch Code: 50
E-mail: kotalipara@[Link]
SAVAR BRANCH SHYAMOLI BRANCH
Holding Bo.144, Savar Bazar Road, Ward House# 24/1, Mohammadpur Housing Estate
No.02, Savar Pourashova, Savar, Dhaka-1340 Block-B, Ring Road, Shyamoli, Dhaka-1207
Tel: 02-224445581-82 Tel: 02-41022816, 02-41022814
Branch Code: 35 Branch Code: 53
E-mail: savar@[Link] E-mail: shyamoli@[Link]

| Annual Report 2024 173

 Address Of Branches

DHAKA DIVISION

ISLAMPUR BRANCH MATUAIL BRANCH

6-7, Islampur Road (2nd floor), Islampur Asiatic Shopping Mall Complex, Mominbagh
Dhaka-1100 Chowrasta, Paradogair, Matuail, Demra, Dhaka
Tel: 02-57394422, 02-57394722 Tel: 02-223303819, 02-2233003820
02-7394799 02-223303808
Branch Code: 39 Branch Code: 61
E-mail: islampur@[Link] E-mail: matuail@[Link]

MAWNA BRANCH KERANIGANJ BRANCH

Hamida Complex, Telihati Century City Complex, Shaheed Delwar
Sreepur, Gazipur-1741 Hossain, Road, East Aganagar
Tel: 0682-551155, 0682-555199 South Keraniganj, Dhaka
Mobile: 01730057326 Tel: 02-7764283, 7764284 ,7764285
Branch Code: 41 Branch Code: 63
E-mail: mawna@[Link] E-mail: keraniganj@[Link]

FARIDPUR BRANCH DHAKA CANTONMENT BRANCH

Holding no. 29/D, Ward no. 2 CB 211/4, VIP Road, Kochukhet, Bhashantek
Thana-Kotwali, Faridpur Dhaka Cantonment, Dhaka-1206
Tel:02-478804228, 02-478804234 Tel: 02-8871857, 8871159, 8871858
Branch Code: 46 Branch Code: 64
E-mail: faridpur@[Link] E-mail: dhakacantonment@[Link]

BANANI BRANCH ELENGA BRANCH

6, Kamal Ataturk Avenue Holding no: 1665
Banani-1213 Dr. Hasen Ali Super Market
Tel: 02-8833402, 8833403, 8833407 Elenga Bazar Road, Elenga, Kalihati, Tangail
Fax: 02-8833035 Mob: 01730057338
Branch Code: 47 Branch Code: 65
E-mail: banani@[Link] E-mail: elenga@[Link]

MUKTERPUR BRANCH
“Laila Plaza” (Jor Pukurpar)
Vill : Mukterpur, Post : Panchasar
P.S : Munshigonj, Dist : Munshigonj
Phone: 02-997731200, 02-997731490
Branch Code: 73
E-mail: muktarpur@[Link]

174 | Annual Report 2024

 Address Of Branches

CHATTOGRAM DIVISION

KHATUNGONJ BRANCH DEWANHAT BRANCH

193 Khatungonj, Chattogram -4000 4/B D.T. Road, Postarpar
Tel: 02-333366280,02-333357200 Dewanhat, Chattogram-4100
02-333388519 Tel: 02-333322480-82
SWIFT: BKSIBDDH004 Branch Code: 30
Branch Code: 04 E-mail: dewanhat@[Link]
E-mail: khatungonj@[Link]

AGRABAD BRANCH CHANDPUR BRANCH

Pine View (Ground floor) Holding No.- 121, (Kalibari More), Cumilla
100 Agrabad C/A, Chattogram-4100 Road, Ward No-7, Pourashava Chandpur
Tel: 02-333320041, 02-333320080 Chandpur-3600
02-333314822, 02-333325527 Tel: 02-334487201, 02-334487202
SWIFT: BKSIBDDH008 Branch Code: 38
Branch Code: 08 E-mail: chandpur@[Link]
E-mail: agrabad@[Link]

JUBILEE ROAD BRANCH PAHARTOLI BRANCH

G.R. Plaza, 5, Jubilee Road Plot No. 9 & 10, Block-G, Firoz Shah Housing
Chattogram-4100 Estate Pahartoli, Chattogram
Tel: 02-333364447, 02-333358305 Tel:02-333333860, 02-333333861
SWIFT: BKSIBDDH013 Fax: 43150558
Branch Code: 13 Branch Code: 45
E-mail: jubileeroad@[Link] E-mail: pahartoli@[Link]

ASADGONJ BRANCH DOHAZARI BRANCH

M.A. Salam Market Janakalyan Tower (1st floor), Main Raod
774, Asadgonj, Chattogram -4100 Dohazari, Chandanaish, Chattogram
Tel: 02-333364942, 02-333354569 Tel: 01713018843
SWIFT: BKSIBDDH016 Branch Code: 59
Branch Code: 16 E-mail: dohazari@[Link]
E-mail: asadgonj@[Link]

SHOLASHAHAR BRANCH PATHERHAT BRANCH

Proskov Bhaban (1st floor), 110 CDA Ibrahim Soban Tower, Patherhat, Noapara
Avenue, Nasirabad, Muradpur, Chattogram Raozan, (Kaptai Road), Chattogram
Tel: 02-334454066, 02-334450855 Tel: 01713068889
02-334455304 Branch Code: 60
Branch Code: 24 E-mail: patherhat@[Link]
E-mail:sholashahar@[Link]

| Annual Report 2024 175

 Address Of Branches

CHATTOGRAM DIVISION
CEPZ BRANCH CUMILLA BRANCH
Islam Plaza, Holding no-1279/1685 Holding No.- 03, A.M.D. Complex Market
Ward-39,South Halishahar Chatipatty, Rajgonj, Cumilla-3500
M.A. Aziz Road, CPEZ, Chattogram -4100 Tel:02-334403444,02-334405886
Tel: 02-333340546, 02-333340094,02-333340733 Branch Code: 17
Branch Code: 25 E-mail: Comilla@[Link]
E-mail: cepz@[Link]

COX'S BAZAR BRANCH JORARGANJ BRANCH

Holding no.: 30 (Rashid Complex) Gopinathpur, Jorarganj, Mirersharai
Main Road, Cox's Bazar Sadar, Cox's Bazar-4700 Chattogram
Tel: 02-334462776, 02-334462777 Mobil: 01730057311
Branch Code: 56 Branch Code: 68
E-mail: coxsbazar@[Link] E-mail: Jorarganj@[Link]

FENI BRANCH
Holding no.: 1162, Feni Zilla Central Boro
Jame Mosjid Complex, Trank Road, P.O : Feni
Sadar, P.S.: Feni, Dist : Feni
Phone: 02-334474303, 02-334474074
Branch Code: 72
E-mail: feni@[Link]

Address Of Branches

KHULNA DIVISION

KHULNA BRANCH KUSHTIA BRANCH

128 ( Old-107), Sir Iqbal Road, Khulna-9100 Biswas Super Market (1st floor)
Tel: 02-477721672, 02-477720361 95/170, N.S. Road, Shapla Chattar
02-444110521 Thanapara, Kushtia-7000
SWIFT: BKSIBDDH025 Tel: 02-477782635,02-477782636
Branch Code: 05 Branch Code: 36
E-mail: khulna@[Link] E-mail: kushtia@[Link]

JHIKARGACHA BRANCH KDA AVENUE BRANCH

Samad Market, Krishnanagar, Jhikargacha Al-Mumin Centre(1st floor), 58, KDA Avenue
Jashore Sonadanga, Khulna-9100
Tel: 02-477769499,02-477769495 Tel:02-477723118, 477729924, 477729920
Branch Code: 48 Branch Code: 42
E-mail: jhikargacha@[Link] E-mail: kdaavenue@[Link]

176 | Annual Report 2024

 Address Of Branches
KHULNA
KHULNADIVISION
DIVISION
JASHORE BRANCH JHENAIDAH BRANCH
NLI Tower-04, Holding No.142 203, Hossain Shaheed Suhrawardy Road
Deshbandhu Chittaranjan Road, Jeshore Sadar Jhenaidah Sadar, Jhenaidah
Jeshore-7400 Tel: 02-477747188, 02-477747142
Tel: 02-477765047, 02-477760104 Branch Code: 67
Branch Code: 18 E-mail: jhenaidah@[Link]
E-mail: jessore@[Link]

FAKIRHAT BRANCH CHITALMARI BRANCH

Holding no:48
Sheikh Matiur Rahman Market
Meem Sargical Clinic, Vill: Aruaborni
Old Dhaka Road, Fakirhat, Bagerhat
Shaheed Minar Road, Chitalmari, Bagerhat
Tel: 02-477754867-68
Tel: 02-477755709,02477755707
Branch Code: 43
02-477755708
E-mail: fakirhat@[Link]
Branch Code: 44
SATKHIRA BRANCH E-mail: chitalmari@[Link]

12478(Old), Itagacha Bazar Mor

Sultanpur Bara Bazar Road, Satkhira-9400
Tel: 02-477741775, 02-77741776
Branch Code: 51
E-mail: satkhira@[Link]

Address Of Branches
KHULNA
RAJSHAHIDIVISION
DIVISION
RAJSHAHI BRANCH CHAPAINAWABGANJ BRANCH
Sarker Tower (1st floor) Holding no.167-170 Holding No.- 449, Huzrapur Road
Kumarpara, Boalia Rajshahi-6100 Chapainawabganj
Tel: 02-588860976, 02-588856278 Tel: 02-588892580, 02,588892770
Branch Code: 03 Branch Code: 54
E-mail: rajshahi@[Link] E-mail: chapainawabganj@[Link]

SIRAJGANJ BRANCH NATORE BRANCH

Shapneel Shoping Complex Holding No.- 327, Rosy Market
305, S.S. Plaza, S.S. Road, Sirajganj Station Bazar, Natore
Tel: 02,588831648, 02-588831649 Tel: 02-588873374, 02-588873574
Branch Code: 29 Branch Code: 55
E-mail: sirajganj@[Link] E-mail: natore@[Link]

BELKUCHI BRANCH BOGURA BRANCH

Bhuiya Plaza Holding no.489, Bhabani Shachin Bhaban
Mukundagati Bazar, Belkuchi, Sirajganj Hari Dashi Market, 120 Baragola, Bogura-5800
Tel: 02-588834439, 02-588834440 Tel: 02,589902801-02, 02-589902803
Branch Code: 40 SWIFT: BKSIBDDH012
E-mail: belkuchi@[Link] Branch Code: 12
E-mail: bogra@[Link]

| Annual Report 2024 177

 Address Of Branches

RANGPUR DIVISION

SAIDPUR BRANCH RANGPUR BRANCH

T. R. Road (Dinajpur Road) 97/1, Central Point, Central Road
Saidpur 5310, Nilphamari Rangpur-5400
Tel:02-589957580, 02-589957582 Tel:02-589962082,02-589962083
02-589957581 Branch Code: 32
Branch Code: 20 E-mail: rangpur@[Link]
E-mail: saidpur@[Link]

CHIRIRBANDAR BRANCH
Ghugura Tola Bus Stand, Vill : Chirirbandar
P.S.: Chirirbandar, Dist : Dinajpur
Mobile: 01712247100
Branch Code: 70
E-mail: chirirbandar@[Link]

Address Of Branches

BARISHAL DIVISION

BARISHAL BRANCH MATHBARIA BRANCH

102, Chawkbazar Road Hatem Ali Plaza, Holding NO.407
Barishal Kapuria Patty Sarak, Thana- Mathbaria
Tel: 02-4788665037,02-472265037 Drist: Pirojpur
Branch Code: 27 Tel: 04625-75896, 04625-75897
E-mail: barisal@[Link] Mobile: 01713444236
Branch Code: 57
E-mail: mathbaria@[Link]

MOHIPUR BRANCH
Vill/Area: Mohipur, Thana:Mohipur
Upzilla: Kolapara, Dist: Patuakhali
Mobil: 01713257450
Branch Code: 69
E-mail: mohipur@[Link]

178 | Annual Report 2024

 Address Of Branches

SYLHET DIVISION

ZINDABAZAR BRANCH MIRPUR BAZAR BRANCH

Wahid View (1st floor) Chowdhury Complex, Dhulia Khal Road
5477, East Zindabazar, Sylhet-3100 Mirpur Bazar, Bahubal, Habiganj
Tel:02-996634317, 02-996633548 Mobil: 01714166946
SWIFT: BKSIBDDH026 Branch Code: 62
Branch Code: 07 E-mail: mirpurbazar@[Link]
E-mail: zindabazar@[Link]

CHOWMUHANA BRANCH SONARPARA BRANCH

152, Shamsernagar Road 61, Monsuf-Rowshan Plaza, Sylhet-Tamabil Road
Chowmuhana, Moulvibazar-3200 Raynagar, Sonarpara, Sylhet
Tel:02-996683238, 02-99683060 Tel: 02-996636487, 02-996636472 (PABX)
Branch Code: 11 Branch Code: 58
E-mail: chowmuhana@[Link] E-mail: sonarpara@[Link]

Address Of Branches

MYMENSINGH DIVISION

MYMENSINGH BRANCH ISHWARGANJ BRANCH

76/A, Chhoto Bazar Road 41, Patbazar Road, Ishwarganj
Mymenshingh-2200 Mymensingh
Tel: 02-996668617, 02-996668612 Tel: 0902-756152, 756153
Branch Code: 52 Mobile: 017134444215
E-mail: mymensingh@[Link] Branch Code: 66
E-mail: ishwarganj@[Link]

JAMALPUR BRANCH
“Mia Mansion”
House No: 1007, Doyamoyee Road, Jamalpur-2000
Phone: 02-997773501, 02-997773488
Branch Code: 71
E-mail: jamalpur@[Link]

| Annual Report 2024 179

 Address OF SUB-BRANCHES

01 Agargaon Sub Branch 02 Dhaka Commerce College Road Sub Branch

Controlling Branch: Main Controlling Branch: Mirpur
Address: Holding No#134, Shahid Kamal Address: Plot-I/4, Avenue-1, Block-C, Section-1
Sarani, West Agargaon, Ward No# 28 Mirpur, Ward No# 08, Dhaka North City Corporation
Dhaka North City Corporation Thana – Shah Ali , Dhaka.
Thana-Sher-E-Bangla Nagar, Dhaka. Mobile No: 01753-572167
Mobile No: 01722-044328 Email: dhakacommercecollegeroad@[Link]
Email: agargaon@[Link]

03 Dhaka Uddyan Sub Branch 04 Parbatipur Sub Branch

Controlling Branch: Shyamoli Controlling Branch: Saidpur
Address: Holding No# 6, Block-B Address: Holding # 1118, Natun Bazar
Haji Dil Mohammad Avenue, Ward No# 33 Fulbari Road, Ward No-02
Dhaka North City Corporation Pourasava –Parbatipur, Dinajpur
Thana – Mohammadpur, Dhaka Mobile No: 01716-763106
Mobile No: 01918-108380 Email: parbatipur@[Link]
Email: dhakauddyan@[Link]

05 Aam Chattar Sub Branch 06 Gandaria Sub Branch

Controlling Branch: Rajshahi Controlling Branch: Bangshal
Address: “Nice Plaza”, Holding # 146 Address: Holding No. 21/A, Distrilari Road
North Nowdapara, Ward No.-17 Gendaria, Thana – Sutrapur, Ward No.- 45
Rajshahi City Corporation Dhaka South City Corporation, Dhaka
Thana- Shah Mokhdum, District- Rajshahi Mobile No: 01558-315636
Mobile No: 01767-479656 Email: gandaria@[Link]
Email: ammchattar@[Link]

07 Banasree Mohila Sub Branch 08 Ranir Bazar Sub Branch

Controlling Branch: Karwanbazar Controlling Branch: Cumilla
Address: Holding No. 187/9, Titas Road Address: Holding No.323/280, Ranir Bazar Road
Banasree, P.S-Rampura, Ward No- 22 Ward No.- 8, Cumilla City Corporation
Dhaka South City Corporation, Dhaka. P.S. Adarsha Sadar, Cumilla-3500.
Mobile No: 01552-312826 Mobile No: 01712-613983
Email: banasreemohila@[Link] Email: ranirbazar@ basicbanklimited. com

09 Gallamari Sub Branch 10 Jhalakathi Sub Branch

Controlling Branch: KDA Avenue Controlling Branch: Barisal
Address: Holding No.-139, PCC Tower Address: Holding No.-49-50
[Link] Road,Ward no.-18 Monohor Patti Road, Ward No.-4
Khulna City Corporation Pourashava-Jhalakathi, P.S-Jhalakathi
P.S-Sonadanga, District-Khulna. District- Jhalakathi
Mobile No: 01752-195970 Mobile No: 01711-006455
Email: gallamari@[Link] Email: jhalakathi@[Link]

180 | Annual Report 2024

 Address OF SUB-BRANCHES

11 Hazi Abdul Latif Bhuiyan College Sub Branch 12 Savar Sub Branch
Controlling Branch: Matuail Controlling Branch: Savar
Address: Holding No. 103/10, College Road Address: Holding No. 43
Ward No.-65, Dhaka South City Corporation Dhaka- Aricha Hiway, Holding no.07
P.S-Jathrabari, Dhaka Pourashava-Savar, P.S Savar, Dhaka
Mobile No: 01717-825935 Mobile No: 01711-368371
Email: haziabdullatifbhuyancollege@[Link] Email:savarsubbranch@[Link]

13 Sonagazi Sub Branch 14 Uttarkhan Sub Branch

Controlling Branch: Feni Controlling Branch: Uttara
Address: Upazila Muktijoddha Complex Bhaban Address: Holding no. 1841/1
Sonagazi Muhurigonj Project Road Shah Kabir (R.) Main Road, Ward No. 45
Ward No. 05, Sonagazi Dhaka North City Corporation. Dhaka.
Pouroshava, P.S Sonagazi, Feni Mobile No: 01670-233742
Mobile No: 01718-904727 Email: uttarkhan@[Link]
Email: sonagazi@[Link]

15 Bhuschi Bazar Sub Branch 16 Gaibandha Sub Branch

Controlling Branch: Cumilla Controlling Branch: Rangpur
Address: Bhai Bhai Super Market Address: Holding No. 7903, D.B Road
Vill: Bhuschi Bazar, Post Office: Choto Shorifpur Ward No. 03, Pouroshava-Gaibandha
Union: Bhulin South, P.S: Lalmai, Cumilla P.S-Gaibandha Sadar, Dist.- Gaibandha
Mobile No: 01911-868272 Mobile No: 01712-363758
Email: bhuschibazar@[Link] Email:Gaibandha@[Link]

17 Poisherhat Sub Branch 18 Shariatpur Sub Branch

Controlling Branch: Kotalipara Controlling Branch: Kotalipara
Address: Abdul Goni Howlader Complex Address: Rokon Art Press Bhaban
Vil: Poisherhat, Union -9 no. Bakal Palong Bazar Sarak,Ward # 01
P.S: Agoiljhara, Dist-Barishal Pourasava-Shariatpur,Thana-Palong
Mobile No: 01717-286531 District-Shariatpur
Email: paisarhat@[Link] Mobile No: 01716-406139
Email: shariatpur@[Link]

19 Pabna Sub Branch 20 Gopalganj Sub Branch

Controlling Branch: Natore Controlling Branch: Tungipara
Address: M.R. Tower, Holding # 84, Nandan Goli Address: Nur Centre, Holding No-15
Lohapotti, Ward No.-3, Pourasava-Pabna Chowrongi Road, Ward No-04
Thana-Pabna Sadar, District-Pabna Pourasava-Gopalganj, P.S-Gopalgan Sadar
Mobile No: 01716-836718 District-Gopalganj, Mobile No: 01724-095304
Email: pabna@[Link] Email: gopalgonj@[Link]

| Annual Report 2024 181

 Address OF SUB-BRANCHES

21 Chuadanga Sub Branch 22 Kurigram Sub Branch

Controlling Branch: Kushtia Controlling Branch: Rangpur
Address: Shahadat Hossain Joarder Market Address: Holding No-0002-00
Holding No-978/2, Shahid Abul Kashem Road Kurigram-Bhurungamari Road, Ward No-03
Ward No-04, Pourasava-Chuadanga Pourasava-Kurigram, P.S-Kurigram Sadar
P.S- Chuadanga Sadar, District-Chuadanga District-Kurigram
Mobile No: 01714-502868 Mobile No: 01717-951978
Email: chuadanga@[Link] Email: kurigram@[Link]

23 Thakurgaon Sub Branch 24 Lebukhali Sub Branch

Controlling Branch: Chirirbandar Controlling Branch: Barishal
Address: Holding No-809, Tatipara Road Addres: S.T Bhaban, Vill/Location: Lebukhali
Ward No-06, Pourasava-Thakurgaon Union-Lebukhali, Thana-Dumki, District-Patuakhali
P.S-Thakurgaon, District-Thakurgaon. Mobile No: 01719-765321
Mobile No: 01868-082051 Email: lebukhali@[Link]
Email: thakurgaon@[Link]

25 Subidkhali Sub-Branch 26 Patuakhali Sub-Branch

Controlling Branch: Barisal Controlling Branch: Mohipur
Address: Bepari Market, Union- 4 no. Address: Momtaj Shopping Complex
East Subidkhali, P. S-Mirzagonj Holding No-119, hanapara Road, Ward No-07
District-Patuakhali. Pourashava-Patuakhali,
Mobile No: 01711-194595 P.S-Patuakhali Sadar, District-Patuakhali.
Email: subidkhali@[Link] Mobile No: 01717-008732
Email: patuakhali@[Link]

27 Naogoan Sub-Branch 28 Narail Sub-Branch

Controlling Branch: Bogura Controlling Branch: Jeshore
Address: Holding No. 152, Old Kachari Road Address: Janani Super Market, Holding No.94
Ward No.-4, Pourashava-Naogaon Ward No. 06, Narail-Jeshore Road
P.S: Naogaon Sadar, District: Naogaon. Pourashava-Naril,P.S: Narail Sadar
Mobile No: 01712-233658 District: Narail.
Email: naogaon@[Link] Mobile No: 01925-224512
Email: narail@[Link]

29 Suapur Sub-Branch 30 Meherpur Sub-Branch

Controlling Branch: Savar Controlling Branch: Kushtia
Address: Faijuddin Super Market, Suapur Bazar Address: K.N. Market, Holding No. 457
Union-Suapur, Thana: Dhamrai, District: Dhaka. Main Road, Boro Bazar, Ward No.-02
Mobile No: 01813-338779 Pourashava – Meherpur, Thana-Meherpur
Email: suapur@[Link] Sadar, District-Meherpur.
Mobile No: 01953-696050
Email: meherpur@[Link]

182 | Annual Report 2024

 Address OF SUB-BRANCHES

31 Manikganj Sub Branch 32 Paragram Bazar Sub Branch

Controlling Branch: Savar Controlling Branch: Dhanmondi
Address: Beautha Commercial Building Address: Gazi Plaza,Village: Paragram
Holding No. 103/1, Beautha Road, Ward Union: Kailail, Thana: Nawabgonj, District: Dhaka.
No.-09, Pourashava-Manikganj, Mobile No: 01688-118084
Thana-Mankiganj Sadar, District-Manikganj Email: paragram@[Link]
Mobile No: 01741-719989
Email: manikganj@[Link]

33 Dhantara Bazar Sub Branch 34 Daganbhuiyan Sub Branch

Controlling Branch: Savar Controlling Branch: Feni
Address: Hazi Abu Sayeed Super Market Address: Shahadat Shoping Mall
Dhantara Bazar, Union: Jadobpur Holding No. 492, Faziler Ghat Road
Thana: Dhamrai, District: Dhaka. Ward No. 03, Poruashava Daganbhuiyan
Mobile No: 01916-505025 Thana: Daganbhuiyan, District: Feni.
Email:dhantarabazar@[Link] Mobile No: 01758-894964
Email:daganbhuiyan@[Link]

35 Khilpara Bazar Sub Branch 36 Nobogram Bazar Sub Branch

Controlling Branch: Chandpur Controlling Branch: Savar
Address: Shahid G.M. Ruhul Amin Plaza-02 Address: Janab Ali Super Market
Vill/Location:Khilpara Bazar, Union: Khilpara Vill /Location: Nobogram Bazar, Union: Kushura
Thana: Chatkhil, District: Noakhali Thana: Dhamrai, District: Dhaka
Mobile No: 01727-433000 Mobile No: 01717-744998
Email:khilparabazar@[Link] Email:nobogrambazar@[Link]

37 Joymontop High School Sub Branch

Controlling Branch: Savar
Address: JHS Shopping Center
Vill /Location: Joymontop
Union- Joymontop, Thana: Singair
District: Manikganj.
Mobile:01754-008005
Email:joymontop@[Link]

| Annual Report 2024 183

 Address OF COLLECTION BOOTH
1 Dhaka Palli Bidyut Samity-3 Bhaban
Shimultola Zonal Office
Road: C.R.P Road, Ward: 07, Savar Pourasava, Savar, Dhaka
2 Savar Pourashava Bhaban
Holding: 01, Road: Pourashava Road
Savar, Dhaka
3 Ramna BTCL Exchange Bhaban
Ramna, Dhaka.
Phone- 02-22338602
4 Gulshan BTCL Exchange Bhaban
Gulshan-1, Dhaka
Phone-02-48810955
5 Sher-e- Bangla Nagar BTCL Exchange Bhaban
Sher-E- Bangla Nagar, Dhaka
Phone-02-48118575

6 GTCL Bhaban
Holding: F 18/A, Sher-E- Bangla Nagar
Agargaon, Dhaka
7 Cox,s Bazar [Link]
Arakan Road. Jhilonga, P.S.# Cox,s Bazar
Sadar, Cox,s Bazar.

8 Cox,s Bazar Pourashava Bhaban

Holding: 408, Ward No. 10
Cox,s Bazar Pourashava , Cox,s Bazar

9 Barishal District Bar Association Bhaban

Ward No: 09, Barishal City Corporation
P.S: Kotowali, Dist : Barishal
10 Mymensingh Palli Bidyut Samity-3 Bhaban
Holding: 1999, Ishwarganj
Mymensingh City Corporation, Mymensingh
11 Patuakhali Palli Bidyut Samity
Kuakata Sub-Zonal Office Bhaban
Holding: 06, Barishal-Kuakata Raod
Thana- Kolapara, Dist: Pautakhali
12 Kushtia Pourashava Bhaban
Holding: 29, Chowdhury Kashar Ahmed Road
Ward No.01, Pourashava-Kushtia
P.S- Kushtia Sadar, Zilla-Kushtia
13 Gazipur Palli Bidyut Samity-1
Salna Sub-Zonal Office Bhaban
Holding: 1454, Shimultoli Raod
Thana- Joydebpur, Zilla-Gazipur

184 | Annual Report 2024

 COUNTRYWIDE LOCATIONS OF BASIC ATM

Basement-1, 13/KA/1,,
1 Bashundhara City Shopping Complex Bashundhara City Market,
Panthopath,Dhaka.
05.01.2009

"Bana Shilpa Bhaban (Ground floor)

2 Main Branch ATM 73 Motijheel C/A, Dhaka-1000
Tel: 02-9563068, 9553322"
01.04.2015

"Plot No. 67/A (1st floor), Rabindra Saroni

3 Uttara Branch ATM Sector-7, Uttara Model Town,
Dhaka-1230, Ground Floor"
05.01.2009

4 Agrabad Branch ATM Pine View, 100, Agrabad C/A, Ground Floor,
Chittagong (Along with Branch Premises).
05.01.2009

5 Dhanmodhi shimanto
Square Market ATM
Shop-3, Simanto Square Market,
Dhanmondi, Dhaka. 04.04.2009

CB 211/4, VIP Road,

6 Kachukhet Cantonment Branch ATM Kochukhet, Bhashantek, Dhaka Cantonment,
Dhaka (Along with Branch Premises).
27.08.2013

7 Shyamoli Branch ATM

13/2, Ring Road, Ward#43,
Mohammadpur, Dhaka.
26.12.2013

8 Dilkusha Branch ATM

14, Dilkusha C/A,
Dhaka (Along with Branch Premises).
13.02.2014

Vill:Nazibpur, Union+P.O: Mohipur,

9 Mohipur Branch ATM P.S:Kalapara, Dist: Patuakhali (Along
with Branch Premises).
11.03.2014

10 Mathbaria Pouroshava ATM

Holding 241,Ward#06, Mathbaria
Pourashava, Mathbaria.
04.05.2014

11 Khulna Branch ATM

107, Sir Iqbal Road, Khulna-9100
(Along with Branch Premises). 15.04.2014

20, Darus Salam Road, South Bishil,

12 Mirpur-1 ATM Mirpur -1, Ward# 12, Dhaka
(Near Chineese restaurant bus stop).
15.05.2014

13 GTCL Bhaban ATM GTCL Complex, Agargaon 14.12.2016

| Annual Report 2024 185

 COUNTRYWIDE LOCATIONS OF BASIC ATM

14 Gulshan BTCL ATM

Guslhan BTCL Complex,
Ghulshan 1
16.08.2017

15 Lalmai Comilla PRAN-RFL ATM

Lalmai PRAN-RFL Factory,
Lalmai, Comilla
23.09.2018

16 Hobiganj PRAN-RFL ATM

HobiganjPRAN-RFL Factory,
Rokonpur
27.09.2018

17 Barishal BAR Council ATM BAR Council Bhaban,

Barishal Court Building
16.10.2018

18 Rajshahi Branch ATM Sarker Tower, Boalia

(Alongwith Branch Premises)
31.01.2019

"BSCIC Electronics Complex, Industrial Plot No. 1/1

19 Mirpur Branch ATM Section 7, Avenue 4, Road No. 3 Pallabi,
Dhaka-1221. Tel: 02-9006249-50"
20.06.2019

20 Joraraganj ATM
Jorarganj Bazar,Meresorai,
Chittagong
25.05.2022

21 Sirajgonj Branch ATM

Holding - 81,Mujib Road - Borogola Potti,
Kheya Complex, District - Sirajganj
25.05.2023

22 Gopalganj ATM Rida Plaza,Ground Floor, Gopalganj 10.03.2024

Plot-A6,Sher-E_Bangla Nagar,
23 BTRC Head Office ATM -01, Agargaon Agargaon, BTRC Head Office,
Dhaka-1207
06.05.2024

24 BTRC Head Office ATM -02, Agargaon

Plot-A6,Sher-E_Bangla Nagar, Agargaon,
BTRC Head Office, Dhaka-1207 27.04.2025

187/9, Titas Road, Rrampura,

25 BANASREE MOHILA
SUB BRANCH ATM
Banasree, Dhaka.
(Alongwith Sub-Branch Premises)
16.07.2025

186 | Annual Report 2024

 CREDIT RATING

With Government Without Government

Type of Rating Valid From Valid Till
Support Support
Long Term AAA B+
Short Term July 24, July 23,
ST-1 ST-5
2025 2026
Outlook Stable Stable

BASIC Bank Limited is rated AAA (Triple A) in the Long Term and ST-1 in the Short
Term with stable outlook as Government Support Entity for the year 2024. This Level of
Rating indicates strongest capacity of timely payment of financial commitments and
carrying lowest credit risk.

Besides, Emerging Credit Rating Ltd. (ECRL) has assigned B+ (pronounced as single
B Plus) to BASIC Bank Limited for Long Term with stable outlook and ST-5 rating for
Short Term for the year 2024.

| Annual Report 2024 187

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188 | Annual Report 2024