National Credit and Commerce Bank explained

NCC Bank PLC.
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Founded:1985
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Hq Location City:Dhaka
Hq Location Country:Bangladesh
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Owners:-->
Website:NCC Bank

NCC Bank PLC. or National Credit and Commerce Bank PLC.[1] is a Bangladeshi private commercial bank.[2] [3] [4] Mr. M. Shamsul Arefin is the present Managing Director and CEO of the bank.[5]

History

NCC Bank was founded in 1985 as an investment company in the name of NCL (National Credit Limited).[1] It became a scheduled commercial bank after receiving permission from the central bank in 1993 and started with a paid up capital of Tk. 390 million.

In June 2008, Tofazzal Hossain was elected chairman of NCC Bank.[6]

In September 2015, Rapid Action Battalion arrested an employee of NCC Bank for embezzling 89.8 million BDT from remittance.[7]

In August 2017, Mosleh Uddin Ahmed was appointed CEO and Managing Director of NCC Bank.[8] Md Nurun Newaz Salim, chairman of Electro Mart Limited and Central Insurance Company Limited, was elected chairman of NCC Bank.[9]

In May 2019, Bangladesh Financial Intelligence Unit investigation found Mosleh Uddin Ahmed, managing director of NCC Bank, had abnormal bank deposits.[10] The board of directors of the bank decided to have a meeting over the issue and sought an explanation from Ahmed.[11] Three financial banks, Dutch Bangla Bank Limited, NCC Bank Limited, and Prime Bank, were victims of cyberattacks in May.[12] Dutch Bangla Bank Limited lost three million USD to the hackers while the other banks maintained that they did not lose any money. Md Nurun Newaz Salim was re-elected chairman of NCC Bank.[13]

On 30 December 2020, Mohammad Mamdudur Rashid was appointed managing director of NCC Bank.[14] In 5 September 2021, Md Abul Bashar was elected chairman of NCC Bank.[15]

In August 2022, the NCC Bank Limited five billion BDT with a aim meet the requirements of Tier 2 of Basel III.[16] Md Abul Bashar was re-elected chairman of the bank in September.[17]

Board of directors

!Name!Designation!Reference
Md. Abul BasharChairman[18]
Sohela HossainVice-Chairman
A.S.M. Mainuddin MonemDirector
Abdul AwalDirector
Abdus SalamDirector
Md. Nurun NewazDirector
Amjadul Ferdous ChowdhuryDirector
S.M. Abu MohsinDirector
Tanzina AliDirector
Khairul Alam ChakladerDirector
Md. MoinuddinDirector
Mohammed Sazzad Un NewazDirector
Mr. M. Shamsul ArefinCEO and Managing Director

Notes and References

  1. Web site: National Credit and Commerce Bank Limited - Banglapedia. en.banglapedia.org. 2016-05-09.
  2. News: NCC Bank diversifies activities . The Financial Express . Dhaka . 2007-08-27 . 2013-04-03.
  3. Web site: NCC Bank gets new DMD. 2015-06-09. The Daily Star. 2016-05-09.
  4. Web site: NCC Bank aspires to be at the top. 2015-05-18. The Daily Star. 2016-05-09.
  5. Web site: NCC Bank gets new chair, vice-chair. 2015-07-28. The Daily Star. 2016-05-09.
  6. Web site: 2008-06-15 . Chairman, vice chairman of NCC Bank re-elected . 2023-03-25 . The Daily Star . en.
  7. Web site: Staff Correspondent . 2015-09-04 . Ex-NCC bank officer held for embezzling Tk 8.98cr . 2023-03-25 . The Daily Star . en.
  8. Web site: 2017-08-07 . Mosleh Uddin NCC Bank MD . 2023-03-25 . The Daily Star . en.
  9. Web site: 2017-08-02 . New chairman for NCC Bank . 2023-03-25 . The Daily Star . en.
  10. Web site: 2019-05-07 . NCC Bank board to discuss CEO's 'abnormal' deposits . 2023-03-25 . The Daily Star . en.
  11. Web site: 2019-05-09 . NCC Bank MD asked to explain abnormal deposits . 2023-03-25 . The Daily Star . en.
  12. Web site: Rahman . Sajjadur . 2019-06-22 . Three banks hit by cyberattacks . 2023-03-25 . The Daily Star . en.
  13. Web site: 2019-09-15 . NCC Bank re-elects chairman . 2023-03-25 . The Daily Star . en.
  14. Web site: 2020-12-30 . NCC Bank gets new MD . 2023-03-25 . The Daily Star . en.
  15. Web site: 2021-09-05 . NCC Bank gets new chairman, vice-chairman . 2023-03-25 . The Daily Star . en.
  16. Web site: 2022-08-10 . NCC Bank to issue Tk500 crore bond . 2023-03-25 . The Daily Star . en.
  17. Web site: 2022-09-04 . NCC Bank gets chairman, vice-chairman . 2023-03-25 . The Daily Star . en.
  18. Web site: BOARD OF DIRECTORS . 25 March 2023 . NCC Bank Limited.