BASIC Bank Limited. Serving people for progress
Resources

BASIC Bank Limited  is well prepared to and capable  of meeting the demand for a broad range of banking services. It has got adequate resources, both human and physical, to provide the customers with the best possible services.

Physical and technological resources
A great deal of investment for developing the physical resource base of the Bank has been made. The Bank  has its presence in all the major industrial and commercial hubs of Bangladesh in order to cater to the needs of industry and trade. At present, there are fifty conveniently located branches throughout Bangladesh. Major features of these branches are:

  • Fully computerized accounts maintenance.
  • Well decorated air conditioned facilities.
  • A fully operational computer network which is currently being implemented. The  work of Local Area Network (LAN) and Wide Area Network (WAN) installation having reliable and secured communication between the branches and the Head Office is in progress to facilitate any Branch Banking and ATM Services.
  • Money counting machine for making cash transactions easy and prompt.
  • Sixteen branches are authorized dealers of foreign exchange. This facilitates speedy disposal of transaction of export and import trade.

Human resources
BASIC Bank has a well-diversified pool of human resources, which entails personnel with high academic background. Also, there is a positive demographic characteristic. Most employees are comparatively young in age yet mature in experience. As at the end 2012 the total number of employee was 1657.

Training
Intensive training program, on a regular basis, is being imparted to employees of all levels to meet the challenges in the banking industry and to help employees to adapt the changes and new working conditions. Bank believes that human resource is the main driving force and quality human resources are the key sources for the success in today’s banking business. Keeping this view in mind and recognizing the importance of training for professional excellence, BASIC Bank established its own training cell in 2005 with modern facilities. In 2011 the cell arranged 29 training courses and provided training to as many as 608 employees of the bank. Bank also sends its employees to BIBM and other local and foreign institutions with a view to enhancing and sharpening their knowledge base. During the year 2011 a total of 114 employees of the Bank were also provided with training in various fields in BIBM and other institutions. BASIC Bank established its own training institute in 2012 with all modern facilities. In 2012, they arranged 20 training courses and provided training to as many as 498 employees of the bank. The Bank also sends its employees to BIBM and other local and foreign institutions with a view to enhancing and sharpening their knowledge base. During the year 2012, a total of 191 employees of the Bank were provided with training in various ields at BIBM, BBTA and other training institutions. Moreover, 5 officials were provided with overseas training programs in 3 diferent programs.

Recruitment of New Officers
The Bank follows a strict recruitment policy in order to ensure that only the best candidates are recruited. For fresh recruitment, comprehensive written test and viva voce are being conducted through the renowned institutions like IBA, BIBM, BIM etc. The Bank, so far, has recruited seven batches of entry-level management staff, all of whom have got excellent academic background. In 2012 the bank recruited 284 fresh employees (except sub staffs) at various grades from different academic background.



Monetary / Financial Resources

BASIC Bank Limited is unique in its objectives. It is a blend of development and commercial banks. The Memorandum and Articles of Association of the Bank stipulate that 50 percent of loanable funds shall be invested in small and cottage industries sector.


Like any other financial intermediaries, BASIC  Bank Limited is no exception in performing its core functions viz. Mobilization of fund and utilizing such mobilized fund for profitable purposes. 

A. Mobilization of fund 
The main sources of fund for the Bank are:
             1.   Deposit, and
             2.   Borrowing 
 
1.   Deposit 
Deposit is the mainstay of the Bank's sources of funds. Following usual practices, it collects deposit through:
    a.   Current Deposit
    b.   Savings Deposit
    c.   Term Deposit
    d.   Scheme Deposit

2.Borrowing 
Apart from deposit, BASIC Bank Limited received funds from : 
    a.   
Bangladesh Bank
    b.   Asian Development Bank (ADB)
    c.   KfW (kreditanstalt fur Wieder-aufbau Credit Institution for Reconstruction), a German development bank. All of these funding sources are for  relatively longer period. Receiving the credit lines from ADB and KfW has been a recongniting of the Bank's highly satisfactory performance.  

 

B. Utilization of Fund
BASIC Bank Limited utilizes its funds in accordance with its organizational goals and corporate strategy. Main use is for lending to industrial and trade sectors. Maintenance of cash and statutory liquidity reserve with the Bangladesh Bank covers 20 percent of demand and time liabilities. Placement of funds in Nostro Accounts to handle foreign trade and investment in money market is also done as usual


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