Treasury:
Treasury operations had long been considered as an important avenue for income generation purpose within the Head Office guided by Assets and Liability Committee (ALCO). Treasury operation played a major role in raising the banks income and recorded an income of Tk. 203.00 million in 2004.
The bank ensures available funds to meet its obligations of maintaining statutory liquidity Ratio (SLR) and investment of liquid assets in a profitable manner. We had liquid assets of Tk. 4449.30 million and as on 31 December 2004 our ratio of liquid assets to total asset was 22.14 percent.
2.6 Consumes Credit:
The bank is extending credit facilities through its Customers Credit Scheme to cater the credit needs of the fixed income group for household durables and cars/automobiles. Total outstanding in this segment stood at Tk. 196.94 million and recovery rate was 94 percent as December 31.2004.
2.7 Credit Card:
Premier Bank launched VISA Credit Card (Local & International) at the beginning of 2004 as New Year bonanza- first time in Bangladesh by local bank. PBL issued 14,200 cards just in 11 months with accumulated revenue of Tk. 78.10 million and profit of Tk. 35.00 Million by the end of the year under review. Card Division is now conducting its operation as an independent vital profit center of the bank as steps has been taken for extending merchant network for acquiring more business as well.
2.8 Operating Result:
The year under review was a successful year in terms of profits and turnover. The Bank made an operating profit of Tk. 930.93 million in 2004, compared to Tk 400.73 million in 200.3 registering a significant rise of 132.20 percent over the preceding year. After necessary provision net profit stood at Tk. 470.54 million as on December 31.2004. An amount of Tk. 385.35 million has been set aside for our tax contribution to the National Exchequer. PBL return on Assets (ROA) was 4.63 percent which was well above the industry average. As dynamic institutions we always stressed on sustainable growth. During the year we have given more of consolidation in different segment of business and our relationship with customers. PBL introduce credit cards, Corporate Banking, Treasury and a separate Leasing Division as vital profit centers.
2.9 Islamic banking branch:
The Premier Bank Limited is operating two branches one at Mohakhali , Dhaka and another one in Lalclighirpar, Sylhet on Islamic Shariah base profit & loss sharing principles. Premier bank Shariah Council under the chairmanship of Mr. Shah Abdul Hannan determines the guiding principles for operation of those who branches. The bank is maintaining a separate set of accounting system for Islamic banking branches which is completely different from conventional banking branches to confirm to the standards adopted by financial accounting & auditing organization for Islamic financial institutions.
The performance of PBL Islamic Banking during the year 2004-2005 is given bellow:
Deposits 876.53
Investments 282.42
Profit 1.05
2.10 Automation in banking operation:
The Bank continued to bring to all the branches under one network in order to facilitate “Real Time Online Banking” service to its customers. As a result customers are enjoying the advantage of any branch banking facility. Very soon the bank is going to provide internet banking and PBL already providing SMS banking facility allowing its customers to make query regarding account balance, cheque payment and deposit status and also delivery request for account statement.
Treasury operations had long been considered as an important avenue for income generation purpose within the Head Office guided by Assets and Liability Committee (ALCO). Treasury operation played a major role in raising the banks income and recorded an income of Tk. 203.00 million in 2004.
The bank ensures available funds to meet its obligations of maintaining statutory liquidity Ratio (SLR) and investment of liquid assets in a profitable manner. We had liquid assets of Tk. 4449.30 million and as on 31 December 2004 our ratio of liquid assets to total asset was 22.14 percent.
2.6 Consumes Credit:
The bank is extending credit facilities through its Customers Credit Scheme to cater the credit needs of the fixed income group for household durables and cars/automobiles. Total outstanding in this segment stood at Tk. 196.94 million and recovery rate was 94 percent as December 31.2004.
2.7 Credit Card:
Premier Bank launched VISA Credit Card (Local & International) at the beginning of 2004 as New Year bonanza- first time in Bangladesh by local bank. PBL issued 14,200 cards just in 11 months with accumulated revenue of Tk. 78.10 million and profit of Tk. 35.00 Million by the end of the year under review. Card Division is now conducting its operation as an independent vital profit center of the bank as steps has been taken for extending merchant network for acquiring more business as well.
2.8 Operating Result:
The year under review was a successful year in terms of profits and turnover. The Bank made an operating profit of Tk. 930.93 million in 2004, compared to Tk 400.73 million in 200.3 registering a significant rise of 132.20 percent over the preceding year. After necessary provision net profit stood at Tk. 470.54 million as on December 31.2004. An amount of Tk. 385.35 million has been set aside for our tax contribution to the National Exchequer. PBL return on Assets (ROA) was 4.63 percent which was well above the industry average. As dynamic institutions we always stressed on sustainable growth. During the year we have given more of consolidation in different segment of business and our relationship with customers. PBL introduce credit cards, Corporate Banking, Treasury and a separate Leasing Division as vital profit centers.
2.9 Islamic banking branch:
The Premier Bank Limited is operating two branches one at Mohakhali , Dhaka and another one in Lalclighirpar, Sylhet on Islamic Shariah base profit & loss sharing principles. Premier bank Shariah Council under the chairmanship of Mr. Shah Abdul Hannan determines the guiding principles for operation of those who branches. The bank is maintaining a separate set of accounting system for Islamic banking branches which is completely different from conventional banking branches to confirm to the standards adopted by financial accounting & auditing organization for Islamic financial institutions.
The performance of PBL Islamic Banking during the year 2004-2005 is given bellow:
Deposits 876.53
Investments 282.42
Profit 1.05
2.10 Automation in banking operation:
The Bank continued to bring to all the branches under one network in order to facilitate “Real Time Online Banking” service to its customers. As a result customers are enjoying the advantage of any branch banking facility. Very soon the bank is going to provide internet banking and PBL already providing SMS banking facility allowing its customers to make query regarding account balance, cheque payment and deposit status and also delivery request for account statement.
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