Clinches prestigious DHL-The Daily Star Bangladesh Business Award 2022
Staff Reporter, Dhaka : BRAC Bank has won the DHL-The Daily Star Bangladesh Business Award as the best Financial Institution for 2022.
With this award, BRAC Bank has become the first financial institution in Bangladesh to have won this prestigious award twice. BRAC Bank was first crowned with the honour in 2008.
The award is an initiative by DHL, a global logistics service provider, in partnership with The Daily Star, Bangladesh’s most widely-read English daily. Since its inception in 2000, the award aims to spotlight the exceptional accomplishments and remarkable contributions of the nation’s business leaders and enterprises.
Selim R. F. Hussain, Managing Director & CEO, BRAC Bank, received the award from Tipu Munshi, MP, Commerce Minister, at the award ceremony at a hotel in Dhaka on October 17, 2023. Mahfuz Anam, Editor & Publisher, The Daily Star; Md. Miarul Haque, Managing Director, DHL Worldwide Express (Bangladesh) Private Limited; and Meheriar M. Hasan, Chairperson, BRAC Bank, were present.
Commenting about the prestigious award, Selim R.F. Hussain, said: “BRAC Bank’s superior performance is reflected in the highest market capitalization, international investor shareholding, international credit rating and central bank Camels Rating. We lead the local banking industry in all financial metrics and are a benchmark for values-based banking and sustainability.”
“This Bangladesh Business Award from DHL and The Daily Star will inspire us to take BRAC Bank to the next level while continuing to drive financial inclusion and socially responsible banking just as our founder Sir Fazle Hasan Abed envisioned. Our pursuit of driving excellence in the banking sector will garner renewed dynamism. We share this achievement with our valued customers whose unwavering trust and confidence in the bank make us what we are today,” he added.
BRAC Bank stands out in the banking industry with its eclectic mix of clientele, from small and medium-sized enterprises (SMEs) to corporate and retail clients. The bank provides various top-tier services, including treasury remittance and agent banking, tailored to meet diverse banking needs.
In a historic achievement, BRAC Bank became Bangladesh’s first and sole bank to hit the US$1 billion mark in market capitalisation. Demonstrating its commitment to financial robustness, the bank has long been maintaining non-performing loan way below the industry average. It contributed significantly to the national exchequer, paying Tk 1,024 crore in taxes for 2022.
Focused on the future, BRAC Bank is fervently progressing with its digital transformation agenda, underpinned by four strategic objectives of elevating the quality of customer services, augmenting revenues and expand its customer base, streamlining operations for cost excellence and instilling transparency and auditability into its systems.
Further solidifying its position in the finance sector, BRAC Bank recently received the highest credit rating – B1 from Moody’s Investor Services and B+ from S&P Global Rating, topping the list among all banks in Bangladesh.