The New Nation - Internet Edition

Staff Reporter

Leading private sector Bank, the United Commercial Bank Limited (UCBL), continues to expand its investment portfolio to cater to the need of the entrepreneurs in various sectors conducive to socio-economic growth and development.

Recently the bank signed an agreement with Industrial and Infrastructure Development Finance Company Limited (IIDFC) under which IIDFC will receive Tk 20 crore as term loan, Tk 10 crore as L/C facility and Tk 1 crore as guarantee facility for lease financing in different sectors for accelerating industrial growth and development. The Credit Line will be utilized in the field of leasing of plant and machineries, transport, professional equipments etc.

Sponsored by some dynamic and reputed entrepreneurs and eminent industrialists of the country and also participated by the government, UCBL started its operation in mid 1983 and has since been able to establish one of the largest network of 84 branches until December 2006 among the first generation banks in the private sector.

With its firm commitment to the economic development of the country, the Bank has already made a distinct mark in the realm of Private Sector Banking through personalised service, innovative practices, dynamic approach and efficient Management. The Bank, aiming to play a leading role in the economic activities of the country, is firmly engaged in the development of trade, commerce and industry thorough a creative credit policy.

The Bank has in its management a combination of highly skilled and eminent bankers of the country of varied experience and expertise successfully led by Hamidul Huq, a dynamic banker, as its Managing Director and well educated young, energetic and dedicated officers working with missionary zeal for the growth and progress of the institution.

Mirza Mahmud Rafiqur Rahman, a senior banker and Executive Vice President, is working as Secretary of the Bank. In the early October UCBL has donated 50 Laptop Computers worth about Tk 44 lakh to the Chief of Army Staff for the Election Commission's Voter ID programme. Hajee Yunus Ahmed, Chairman, Board of Directors along with Md Jahangir Alam Khan, EC Chairman and M A Sabur, Director were present on the occasion.

Recently the bank donated an amount of Tk 25 lakh to the Chief Adviser's Relief and Welfare Fund in a bid to help the people in distress due to devastating flood in the country. Earlier, UCBL handed over a Payment Order of Tk 25 lakh to the Communication Adviser M A Matin for victims of devastating landslides following torrential rain in Chittagong.

The bank is providing excellent service to the customers. Some of the products and services of the bank includes: SMS Banking Service, Online Service, Credit Card, One Stop Service, Time Deposit Scheme, Monthly Savings Scheme, Deposit Insurance Scheme, Inward and Outward Remittances, Travellers Cheques, Import Finance, Export Finance, Working Capital Finance, Loan Syndication, Underwriting and Bridge Financing, Trade Finance, Industrial Finance, Foreign Currency Deposit A/C, NFCD (Non Resident Foreign Currency Deposit Account), RFCD (Resident Foreign Currency Deposit Account ), Consumer Credit Scheme and Locker Service. The bank collects Foreign Remittance through Western Union and some other channels.