| Type | Limited |
|---|---|
| Industry | Financial Services |
| Founded | 2001 |
| Headquarters | 1, Gulshan Avenue, Gulshan, Dhaka 1212 Dhaka, Bangladesh |
| Key people | Muhammad A. (Rumee) Ali, Chairman Syed Mahbubur Rahman, Managing Director & CEO |
| Employees | 7000 (approximately) |
| Parent | BRAC, IFC and ShoreCap International |
| Website | www.bracbank.com |
BRAC Bank is the last organization to have received a commercial banking license from Bangladesh Bank, making it the youngest private commercial bank in Bangladesh. Its headquarters are based in the capital Dhaka. The bank is partially owned by BRAC, the largest non-government organization in the world, International Finance Corporation, the private sector arm of The World Bank Group and ShoreCap International.
Though BRAC Bank was formed with the aim to serve the millions of small and medium enterprises (SMEs) in the country. Having pioneered the concept of SME financing in Bangladesh, it is the fourth largest SME bank globally. The company also provides services within corporate and institutional banking, retail banking, as well as probashi banking, which specifically caters to non-resident Bangladeshis abroad. Other areas include customized treasury and foreign exchange solutions, and custody services. It ranks amongst the top banks nationally that processes remittances from abroad.
ATM Network:
BRAC Bank has its own ATM network which is currently 300 strong. In addition to this BRAC Bank is the lead arranger of OMNIBUS shared ATM network.
OMNIBUS, an association of member institutions, which will provide shared ATM and POS network facilities to banks through a neutral mother switch. OMNIBUS was formed as a result of a need for a neutral and centralized gateway. And as a result BRAC Bank took the initiative. And with BRAC Bank, Q-Cash came forward with its members to join hands to form OMNIBUS.
Banks that have signed agreements to share OMNIBUS's ATM and POS network (as of October 2010):
E-Commerce Gateway:
For the first time ever in Bangladesh, BRAC Bank Limited (BBL) has launched Bangladesh's first e-commerce banking platform in alliance with Visa, thereby opening an opportunity for Bangladeshi citizens to use Visa cards for shopping online [1]. Any Bangladeshi with internet access now can shop online with a Visa card or any card issued by BRAC Bank.