An Evaluation of the Financial Performance of Prime Bank Limited

Abstract

Prime Bank was founded in 1995 and is a premier local commercial bank in Bangladesh. The Bank's operational presence is dispersed across the entire nation with 146 branches and 170 ATM locations, with its corporate headquarters located in the busy financial district of Dhaka, Motijheel. It was organized in accordance with the Companies Act of 1994. The most well-known attributes of Prime Bank are its proficiency in corporate and institutional banking as well as its cutting-edge digital banking services. The Best Bank in Bangladesh for 2020 is Prime Bank, according to Global Finance, a prestigious financial newspaper with headquarters in North America. Prime Bank has also been awarded as the Best Digital Bank in Bangladesh in 2020 by Asiamoney, another global financial publication. In order to improve resource efficiency and provide more coherence to its banking activities, Prime Bank launched a "Business Model Restructuring and Centralization" project in 2014. Among other well-known corporate figures from Bangladesh, Mohammad Aminul Haque, Marina Yasmin Chowdhury, and Mohammad Abdul Khaleque are among the founding directors of the Bank. Azam J. Chowdhury, one of the top entrepreneurs in Bangladesh and the chairman and owner of the diverse local conglomerate East Cost Group, has served six two-year terms as the chairman of the bank and will continue to do so through 2020. The Bank's current chairman is Tanjil Chowdhury, Managing Director of East Coast Group. In addition, he serves as Secretary General of Prime Bank Cricket Club, a humanitarian project of the Prime Bank Foundation, and Chairman of Prime Exchange Pte. Ltd., the Singapore branch of Prime Bank (PBF).The owner of Jabbar & Company, Zen Trading Corporation Limited, and Alliance Knit Composite Limited, Zaeem Ahmed serves as the chairman of Prime Bank's executive committee (EC).