Dutch-Bangla Bank Explained

Dutch-Bangla Bank PLC.
Type:Public Limited Company
Location:Motijheel, Dhaka, Bangladesh
Area Served:Bangladesh
Key People:Ms. Sadia Rayen Ahmed (Chairman)
Products:Retail banking, corporate banking, mortgage loans, private banking, credit cards, mobile banking
Operating Income: (2023)
Net Income: (2023)
Assets: (2023)
Num Locations:241 branches
Num Employees:8060
Num Employees Year:2023
Footnotes:[1]

Dutch-Bangla Bank PLC. (Bengali: ডাচ্-বাংলা ব্যাংক পিএলসি.), one of the private commercial banks of Bangladesh, started its operation in Bangladesh as the first European joint venture bank. The bank was an effort by local shareholders spearheaded by Mr. M Sahabuddin Ahmed (Founder Chairman) and the Dutch financial company FMO.[2] [3]

History

Dutch-Bangla Bank PLC was established under the Bank Companies Act 1991 and incorporated as a public limited company under the Companies Act 1994 in Bangladesh in June 1996.[4] It was a Dutch-Bangladesh joint venture and first Bangladeshi-European joint venture of bank in Bangladesh.[5] DBBL commenced formal operation from June 3, 1996. The Bank is listed with the Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited.[6]

In November 2007, Md Yeasin Ali was reappointed managing director of Dutch-Bangla Bank Limited.[7]

Robbers in Gazipur stole 12 million BDT from an ATM of Dutch-Bangla Bank.[8] Abul Kashem Md Shirin was appointed managing director of Dutch-Bangla Bank replacing KS Tabrez in November 2016.[9]

In June 2019, a group of foreign hackers stole 1.6 million BDT from ATMs of Dutch-Bangla Bank in Dhaka.[10] In June, it emerged that the bank lost 3 million USD to cyberattacks which also targeted NCC Bank Limited, and Prime Bank Limited.[11] In July, Abedur Rashid Khan, a director of Dutch-Bangla Bank Limited, transferred his shares of bank to Horizon Associates.[12] The Netherlands Development Finance Company sold their entire stake in Dutch-Bangla Bank in November 2019.

Detective Branch arrested four people, including an IT personnel of Dutch-Bangla Bank Limited, for embezzling 25.7 million BDT from the bank in June 2021.[13] [14]

In 2022, Dutch-Bangla Bank was one of nine banks that held 60% of the excess liquidity in the Bangladeshi market.[15]

In March 2023, 112.5 million BDT from a transport van of the bank in Uttara Model Town.[16] [17] An agent banker of Dutch-Bangla disappeared from Kishoreganj District with 200 million BDT in clients money.[18]

ATM network/DBBL Nexus participating banks

DBBL maintains its own network and automation. DBBL has over 4,930 ATM's installed all over Bangladesh, making it the largest network in Bangladesh.[19] [20] On 10 October 2010, DBBL inaugurated its 1000th ATM at the factory premises of the GlaxoSmithKline, Chittagong.[21]

Internet payment

On 3 June 2010, Dutch Bangla Bank announced internet payments gateway system (Nexus Gateway). Using their Internet Payment Gateway merchants are able to charge their customers' Visa, Masters, DBBL Nexus and Maestro cards online. Presently DBBL has more than 400 e-commerce Merchants.[22] Mobile Apps: DBBL Recently Launched Nexus Pay App For Their Customers.[23]

Social work

Dutch Bangla Bank supports social work and is one of the largest private donors in Bangladesh. The bank donates towards social awareness programs, medical and educational fields.[24] [25] [26] [27]

Notes and References

  1. Web site: Annual Report 2018. 31 December 2018. Dutch-Bangla Bank Limited.
  2. Web site: Parvez . Sohel . Aromatic rice exporters may get more time . The Daily Star . July 26, 2015 . June 26, 2024.
  3. Web site: Customer Satisfaction of DBBL (Dutch-Bangla Bank Ltd.) . Assignment Point . June 3, 1996 . June 26, 2024.
  4. News: Winners of Bangladesh Business Awards 2006 . 2023-03-30 . The Daily Star.
  5. News: 2019-11-03 . Dutch investor sells entire stake in DBBL . 2023-03-30 . The Daily Star . en.
  6. Book: Mazid, Muhammad Abdul . 2012 . Dutch-Bangla Bank Limited . http://en.banglapedia.org/index.php?title=Dutch-Bangla_Bank_Limited . Islam . Sirajul . Sirajul Islam . Jamal . Ahmed A. . Banglapedia: National Encyclopedia of Bangladesh . Second . Asiatic Society of Bangladesh.
  7. News: DBBL MD reappointed . 2023-03-30 . The Daily Star.
  8. News: 2016-03-03 . Tk 1.2cr looted from DBBL ATM booth in Gazipur . 2023-03-30 . The Daily Star . en.
  9. News: 2016-11-02 . Shirin new CEO of Dutch-Bangla Bank . 2023-03-30 . The Daily Star . en.
  10. News: 2019-06-11 . 9 DBBL ATMs victims of int'l fraud gang . 2023-03-30 . The Daily Star . en.
  11. News: Rahman . Sajjadur . 2019-06-22 . Three banks hit by cyberattacks . 2023-03-30 . The Daily Star . en.
  12. News: 2019-07-29 . DBBL sponsor transfers his entire shares . 2023-03-30 . The Daily Star . en.
  13. News: 2021-06-16 . Tk 2.57cr embezzled from DBBL; IT officer who led racket fled country . 2023-03-30 . The Daily Star . en.
  14. News: 2021-06-17 . 4 arrested for siphoning Tk 2.57cr through bank's ATM . 2023-03-30 . The Daily Star . en.
  15. News: Uddin . AKM Zamir . 2022-09-27 . 9 banks hold over 60% of excess liquidity . 2023-03-30 . The Daily Star . en.
  16. News: Tk11.25cr looted from DBBL armoured car . 2023-03-30 . Risingbd.com . en.
  17. News: Police retrieve part of Tk 112m Dutch Bangla Bank funds robbed from van in Uttara . 2023-03-30 . bdnews24.com . en.
  18. News: DBBL agent disappears with Tk 200m from clients in Kishoreganj . 2023-03-30 . Prothom Alo . en.
  19. News: DBBL branches to reach 79, ATMs 850 by yr-end. Financial Express . https://web.archive.org/web/20110421075617/http://www.thefinancialexpress-bd.com/2009/09/29/80133.html . 2011-04-21 . 2 September 2009.
  20. Web site: 2022-09-27 . Bilbet বাংলাদেশ: ডিপোজিট ও উত্তোলন পদ্ধতি 2022 . 2022-11-30 . bn-BD.
  21. News: DBBL's ATM taps 1000 . Dhaka Mirror . 2016-08-05 .
  22. Web site: DBBL Introduced Internet Payments in Bangladesh. 2010-06-08. The HungryCoder. en-US. 2016-05-09.
  23. Web site: DBBL Introduced Nexus Pay Application.. 2019-01-01. DBBL Nexus Pay. en-US. 2019-10-16.
  24. News: Tk 31 lakh Dutch-Bangla aid for acid, dowry victims . The Daily Star . 2016-05-09.
  25. News: Dutch-Bangla Bank distributes blankets . The Daily Star . 2016-05-09.
  26. News: Tk 4 crore Dutch-Bangla donation for Cancer Hospital . The Daily Star . 2016-05-09.
  27. News: Dutch-Bangla Bank stands by acid victims, divorcees . The Daily Star . 2016-05-09.