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27th Virtual Annual General Meeting
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15-Aug-2021
Prime Bank’s Board adopts resolution on National Mourning Day
The Board of Directors of Prime Bank Limited took a resolution on National Mourning Day on the occasion of the 46th anniversary of martyrdom of Bangabandhu Sheikh Mujibur Rahman.

The condolence note resolution was adopted at the 517th Meeting of the Board held on August 12, 2021. Tanjil Chowdhury, Chairman of the bank, presided over the meeting. At the meeting, the Board of Directors discussed about life and works and achievements of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and his contribution to Bangladesh.

As a token of respect, the Directors and officials of the bank used a special virtual background with the theme of National Mourning Day in the meeting held through digital platform. As part of the observance of National Mourning Day on August 15, 2021, the bank will undertake a number of activities throughout the month of August.
10-Aug-2021
Prime Bank retains credit rating of ‘AA’ and ‘ST-2’
Prime Bank has retained its credit ratings for the long term and the short term illustrating its financial strength and stability.

Emerging Credit Rating Limited (ECRL) has affirmed ‘AA’ for the long term and ‘ST-2’ for the short term credit rating to Prime Bank which will be valid till June 30, 2022. The evaluation was based on the bank’s audited financials of FY2017-2020 with the outlook of the rating remaining ‘Stable’.

The ratings reflect the strength of the bank which is backed by growth in loan, deposit and total assets despite adverse industry condition, strong capital base, good post-tax profit and experienced and well-organized management team. ECRL hails Prime Bank by stating that the bank’s biggest strength lies in its capacity to meet financial commitments. It states that the bank would be able to counter any adverse effects that may arise in economic development, businesses and other external conditions.

Commenting on the credit rating, Managing Director and CEO of Prime Bank Hassan O. Rashid, said, “Prime Bank is rooted to a solid financial foundation thanks to its asset quality, strong relationship with the customers and an extensive distribution network covering the entire country.” He also added, “Our capital to risk weighted assets ratio (CRAR) and non-performing loan (NPL) are well above the industry average. All these good governance practices and sound financial parameters have helped us retain the ‘AA’ credit rating for the consecutive years.”
05-Aug-2021
Prime Bank adds more options to its Onmi Digital platform ‘PrimePay’ for Corporate Clients
BEFTN Direct Debit Instruction, Fund Transfer Pull & payment to Rocket make fund transfer more convenient

Prime Bank has added more digital options to PrimePay, the Omni Digital Platform for the Corporate Customers, making fund moving much easier, simpler and safer. Through BEFTN Direct Debit Instruction (DDI) and Fund Transfer Pull Corporate Clients are now able to take more control of their collections and receivables. It makes collection of regular or recurring receivables more convenient and easier for our Corporate Clients. PrimePay is equipped with a strong MIS engine that provide detailed MIS on collection as report and in their statements.

Additionally, our corporate clients can now make direct fund transfer to Rocket wallet using PrimePay that manifests Prime Bank’s relentless efforts to broaden its payment horizon. Bank’s Corporate Clients can fund transfer to Rocket accounts for single or bulk transactions. Users can access PrimePay to make these payments anytime from anyplace and subsequent transaction reports will be available for quick checking.

Hassan O. Rashid, Managing Director & CEO, Prime Bank, commented, “The new features will provide the customers more collection and payment options across multiple platforms through PrimePay. We believe this tailor-made services will facilitate the customers to run business smoothly. We will continue to furnish PrimePay with more value added features to fulfill the present day needs of the customers.”
29-Jun-2021
Prime Bank customers can now instantly transfer fund to NAGAD through ALTITUDE
Prime Bank customers can now instantly transfer fund from their bank accounts to NAGAD – one of the leading Digital Financial Service (DFS) providers – through the internet banking facility ALTITUDE.

The customers can enjoy this facility from June 29, 2021, using both web version and the mobile app of the internet banking platform.

To transfer fund to any NAGAD account, Prime Bank customers need to log in to ALTITUDE app and select “NAGAD Transfer” under Transfer Menu. A maximum of BDT 30,000 to a single or more than one NAGAD account can be transferred daily. Detailed terms and conditions along with transaction limits can be found in Prime Bank website. There is no charge for transferring fund or to receive fund using this service.

The addition of this new feature in ALTITUDE will enhance customer experience by making fund transfer even more efficient. Customers can enjoy a broad spectrum of payment services that are supported by the country’s fastest growing DFS. Such an affiliation truly depicts Prime Bank’s relentless efforts to expand digital banking services.

This mode of transaction comes with a greater degree of security as every transaction necessitates OTP and PIN to be sent to the registered mobile numbers.
20-Jun-2021
Prime Bank’s Director Mrs. Marina Yasmin Chowdhury passes away
With profound grief, we share with you that Mrs. Marina Yasmin Chowdhury, Sponsor Director, Prime Bank Limited and Vice Chairperson, East Coast Group, breathed her last on June 19, 2021 at Square Hospital in Dhaka (Inna lillahi Wa Inna Ilaihi Raji'un). She is the wife of Mr. Azam J Chowdhury, renowned industrialist and mother of Mr. Tanjil Chowdhury, Chairman of Prime Bank Limited.

The Prime Bank Family is deeply mourning the sad demise of their revered guardian. She has been an inspirational icon to the Bank, supporting the entity for long years with her valuable vision and foresight. We pray to the Almighty for the salvation of the departed soul and convey our deepest condolences to the bereaved family.
20-May-2021
Prime Bank holds 26th Annual General Meeting (AGM)
The 26th Annual General Meeting (AGM) of Prime Bank Limited was held over digital platform on May 20, 2021 at 11:00 a.m. in the presence of 299 shareholders, Board of Directors, Independent Scrutinizer, auditors, observers, and high officials of the Bank.

The meeting was chaired by Mr. Tanjil Chowdhury, Chairman of the Bank, where, amongst others, Executive Committee Chairman Mr. Zaeem Ahmed, Audit Committee Chairman Mr. Shamsuddin Ahmad Ph.D., NRC & Risk Management Committee Chairman Dr. G M Khurshid Alam, former Chairman & President of the BAPLC Mr. Azam J Chowdhury, and the Managing Director and CEO Mr. Hassan O. Rashid were present during the meeting.

The shareholders approved a 15% cash dividend for the year 2020 along with adoption of Director’s Report & Audited Financials, appointment and reappointment of directors, statutory auditor, and compliance auditor.
19-May-2021
Prime Bank to hold its Second online AGM on May 20
Prime Bank Limited is going to organize its 26th annual general meeting (AGM) on 20 May 2021 at 11:00 a.m. using the Digital Platform for the second consecutive time after the COVID-19 outbreak. Shareholders have already been notified regarding the attendance procedure through email and SMS to their contact address available at the CDBL system.

Eligible shareholders will be able to place questions & comments (if any) and vote thereon at https://primebank.bdvirtualagm.com, a customized digital platform which will be activated at least 24 hours before commencing of the AGM. An independent scrutinizer has already been appointed by the Bank as per direction from the Bangladesh Securities and Exchange Commission (BSEC).
10-May-2021
Prime Bank customers can now instantly transfer fund to bKash through ALTITUDE
The customers of Prime Bank can now instantly transfer fund to Mobile Financial Service provider - bKash - through the Internet Banking Service - ALTITUDE.

Fund transfer facility from Prime Bank account to bKash has gone live from May 10, 2021.

Prime Bank customers can now use different Alternate Banking Channels e.g. Internet Banking or mobile apps of Prime Bank to avail the service.

To transfer fund to any bKash account, the customers will need to log in to Prime Bank internet banking portal and select “bKash Transfer” under Transfer Menu. They can transfer up to BDT 60,000 in a day. Details of transaction limit and other terms and conditions can be found in Prime Bank website.

This new feature in Internet Banking Service - ALTITUDE - will give more fund transfer options and convenience to the customers. The integration will allow the customers to enjoy wide range of payment services of the leading MFS of the country. The introduction of the new facility is as part of Prime Bank’s continued pursuit to expand digital banking services.

The transaction is fully secured as each transaction requires OTP and PIN sent to the registered mobile number.
05-May-2021
Md. Ziaur Rahman joins Prime Bank as DMD, CAMLCO & CRO
Md. Ziaur Rahman has joined Prime Bank Limited as the Deputy Managing Director (DMD), Chief Anti Money Laundering Compliance Officer (CAMLCO) and Chief Risk Officer (CRO).

Mr. Rahman has more than 26 years of diversified experience in banking industry, such as Eastern Bank Limited, NRB Bank Limited and Dhaka Bank Limited. Prior to his joining Prime Bank Limited, he served at Dhaka Bank Limited as Senior Executive Vice President.

Mr. Rahman did his Bachelors and Masters degree from University of Dhaka.
11-Apr-2021
Prime Bank Announces Partnership with Swisscontact Bangladesh
Prime Bank Limited (PBL), one of the country’s leading bank, announced partnership with the Sarathi project of Swisscontact Bangladesh to introduce digital lending facility to low-income people such as Readymade Garments (RMG) workers. This asserts Prime Bank’s ongoing drive for digital transformation.

The project “Sarathi- Progress through Financial Inclusion”- jointly funded by Metlife Foundation and Swisscontact- is working with commercial banks in Bangladesh to bring RMG workers and residential community members within the sphere of mainstream commercial banking and enable them to conduct transactions as account holders and clients.

The objective of the partnership is to create a digital lending platform powered by Prime Bank’s lending products and Sarathi’s expertise on financial inclusion and creating awareness on financial management amongst the low-income communities. Both organizations have also agreed to work together in other areas of collaboration for mutual benefit.

Sarathi’s Team Leader, Syeda Ishrat Fatema said during the agreement signing: “Swisscontact and Sarathi are happy to take part in this digital lending facility introduced by Prime Bank. Introducing a credit product targeting the low-income communities has always been a challenge for the commercial banks due to the lack of participation by the low-income demographic in digital financial transaction. Thanks to Prime Bank for designing such a product that is well thought out, appropriate and affordable for the low-income households of RMG sector. This digital lending facility has the potential to be a game changer in the business of retail lending in Bangladesh.”

Commenting on the partnership, Prime Bank’s Deputy Managing Director and CBO, Mr. ANM Mahfuz said: “We are excited to partner with Swisscontact, a leading development partner of Bangladesh, in this innovative project taking best-in-class banking services to the unbanked population. This partnership will pave the way for easy access to finance to this segment of population who are beyond banking system. We will continue to team up with valued partners and harness latest digital technology to cater to the unserved people of the society.”
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