• Data on Capital Position

BASIC Bank Limited (Bangladesh  Small Industries and Commerce Bank Limited) registered under the Companies Act 1913 on the 2^nd of August, 1988, started its operations from the 21^st of January ,1989. It is governed by the Banking Companies Act 1991. The Bank was established as the policy makers of the country felt the urgency for a bank in the private sector for financing small scale Industries (SSIs). At the outset, the Bank started as a joint venture enterprise of the BCC Foundation with 70 percent shares and the Government of Bangladesh (GOB) with the remaining 30 percent shares. The BCC Foundation being nonfunctional following the closure of the BCCI, the Government of Bangladesh took over 100 percent ownership of the bank on 4^th June 1992. Thus the Bank is state-owned. However, the Bank is not nationalized; it operates like a private bank as before.

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.

     Data on Corporate Strategy

The Bank Offers:
a.     Term loans to industries especially to small-scale enterprises.
b.      Full-fledged commercial banking service including collection of deposit, short term trade finance, working capital finance in processing and manufacturing units and financing and facilitating international trade.
c.       Technical support to Small Scale Industries (SSls) in order to enable them to run their enterprises successfully.
d.      Micro credit to the urban poor through linkage with Non- Government Organizations (NGOs) with a view to facilitating their access to the formal financial market for the mobilization of resources.
In order to perform the above tasks, BASIC Bank works closely with its clients, the regulatory authorities, the shareholders (GOB), banks and other financial institutions.

CORPORATE STRATEGY

Financing establishment of small units of industries and business and facilitate their growth
Small Balance Sheet size composed of quality assets.
· Steady and sustainable growth.
· Investment in a cautious way.
· Adoption of new banking technology.

·         To employ funds for profitable   purposes in various fields with special emphasis on small scale industries.

• To undertake project promotion on identify profitable areas of investment.

• To search for newer avenues for investment and develop new products to suit such needs.

• To establish linkage with other institutions which are engaged in financing micro enterprises.

·         To cooperate and collaborate with institutions entrusted with the responsibility of promoting and aiding SSI sector.

To achieve its organizational goals, the Bank conducts its operations in accordance with the major policy guidelines laid down by the Board of Directors, the highest policy making body. The day to day operation of the Bank is looked after by the management.

A. BOARD OF DIRECTORS
As stated earlier the Government holds 100 percent ownership of the Bank. All the Directors of the Board are appointed by the Government of Bangladesh. The secretary of the Ministry of Industries is the Chairman of the Bank. Other Directors of the Bank are senior Government and central Bank executives.
The Managing Director is an ex-officio member of the Board of Directors. There are at present 7 Directors including the Managing Director.

B. MANAGEMENT
The management  is headed by the Managing Director. He is assisted by the   General Managers and Departmental Heads in the Head Office. BASIC Bank is different in respect of hierarchical structure from other banks in that it is much more vertically integrated as far as reporting to the Chief Executive is concerned.
The Branch Managers of the Bank report direct to the Managing Director and, for functional purposes, to the Heads of Departments. Consequently, quick decision making in disposal of cases is ensured.