Midland Bank PLC.

Midland Bank PLC.
Company typePublic limited company
IndustryBanking
Founded2013
HeadquartersDhaka, Bangladesh
Area served
Bangladesh
Key people
[1][2]
ServicesBanking
Financial services
Websitewww.midlandbankbd.net

Midland Bank PLC. is a fourth generation private commercial bank in Bangladesh.[3] Nilufer Zafarullah is chairperson of the bank.[4] Md Ahsan-uz Zaman, is the managing director and CEO of Midland Bank Limited.[5]

History

Midland Bank Limited was established on 20 March 2013.[6] It was one of nine 4th generation bank approved all of whom have strong ties with Awami League, the government party.[7] Bangladesh Bank approved Midland Bank Limited on the condition that the bank would eventually list on the stock market.[8]

Md Ahsan-uz Zaman joined Midland Bank Limited in July 2014 as its chief executive officer and managing director.[9]

In 2018, defaulted loans of Midland Bank Limited rose from 220 million taka to 650 million taka.[10]

In July 2020, Md Ahsan-uz Zaman reappointed Midland Bank Limited's Chief Executive Officer and Managing Director[9] On 20 June 2021, Bangladesh Bank included Midland Bank Limited in its Interoperable Digital Transaction Platform and Bangladesh Electronic Funds Transfer Network.[11] In 2020 Midland Bank had 45.06 billion taka in deposits and 37.86 billion in loans.[11] In September 2021, Nilufer Zafarullah was elected chairman of Midland Bank Limited and Md Shamsuzzaman was elected vice-chairman.[12] It launched Midland Online in an attempt to provide more online services during the COVID-19 pandemic in Bangladesh.[13] The bank made 1.62 billion taka in operating profit in 2021 and an increase from 1.25 billion taka it made in 2020.[14]

Midland Bank distributed loans worth 45 million taka to Jamdani weavers in Narayanganj in collaboration with the USHA Foundation.[15][16]

Bangladesh Securities and Exchange Commission asked Midland Bank Limited to list on the stock market.[17] In June 2020, the Midland Bank Limited announced plans to list on the Dhaka Stock Exchange through Initial Public Offering and raise 7 billion taka from the capital market.[18] The Dhaka Tribune reported that Anwar Ispat embezzled 500 million taka from the Gulshan branch of the bank which was denied by the bank.[19][20]

Board of directors

Sl # Name Designation Reference
1 Nilufer Zafarullah Chairperson [21]
2 Md. Shamsuzzaman Director [21]
3 Abul Kashem Director [21]
4 Kazi Omar Zafar Director [21]
5 Ahsan Khan Chowdhury Director [21]
6 Rezaul Karim Director [21]
7 Mostafizur Rahman Director [21]
8 Anushka Mehreen Zafar Director [21]
9 Md. Wahid Miah Director [21]
10 Mahbubul Hady Fazle Rab Independent Director [21]
11 Nazimuddin Chowdhury Independent Director [21]
12 Khandhaker Thanveer Shamsul Islam Independent Director [21]
13 Md. Ahsan-uz Zaman CEO and Managing Director [21]

References

  1. ^ "Message from Chairman – Midland Bank Ltd". midlandbankbd.net. Retrieved 24 June 2022.
  2. ^ "Message from MD & CEO – Midland Bank Ltd". midlandbankbd.net. Retrieved 24 June 2022.
  3. ^ "Midland Bank opens branch in Sylhet". Dhaka Tribune. 21 January 2018. Retrieved 24 June 2022.
  4. ^ "Midland Bank approves 5% cash dividend for 2021". The Business Standard. 19 June 2022. Retrieved 24 June 2022.
  5. ^ "Midland Bank signs MoU with ACE Advisory". The Financial Express. Retrieved 24 June 2022.
  6. ^ "MDB Profile – Midland Bank Ltd". midlandbankbd.net. Retrieved 24 June 2022.
  7. ^ "Does Bangladesh need more banks?". Dhaka Tribune. 1 November 2017. Retrieved 24 June 2022.
  8. ^ "Midland Bank to raise Tk 70 crore thru IPO". New Age. Retrieved 24 June 2022.
  9. ^ a b "Md Ahsan-uz Zaman reappointed as Midland Bank managing director". The Daily Star. 26 July 2020. Retrieved 24 June 2022.
  10. ^ "Nine fourth generation banks continue to bleed". Dhaka Tribune. 1 November 2018. Retrieved 24 June 2022.
  11. ^ a b Hasan, Mahmudul (20 June 2021). "Midland Bank riding on digital tech for steady growth". The Daily Star. Retrieved 24 June 2022.
  12. ^ "Midland Bank re-elects chair, elects vice chair". The Daily Star. 25 September 2020. Retrieved 24 June 2022.
  13. ^ "Midland Bank launches self-registration for its Internet Banking Application". The Financial Express. Retrieved 24 June 2022.
  14. ^ "Some of Bangladeshi private banks make better operating profit". The Financial Express. Retrieved 24 June 2022.
  15. ^ "Midland Bank, USHA Foundation disburses loans to Narayanganj's Jamdani cluster". The Daily Star. 13 June 2022. Retrieved 24 June 2022.
  16. ^ "Midland Bank distributes CMSME Stimulus Loan in Narayanganj's Jamdani Cluster". The Business Standard. 8 June 2022. Retrieved 24 June 2022.
  17. ^ "BSEC asks 5 more banks to go public". Dhaka Tribune. 20 February 2022. Retrieved 24 June 2022.
  18. ^ "Midland Bank to go public". The Financial Express. Retrieved 24 June 2022.
  19. ^ "Midland Bank issues rejoinder". Dhaka Tribune. 1 April 2021. Retrieved 24 June 2022.
  20. ^ "Anwar Ispat swindles Tk 50cr out of Midland Bank". Priyo.com. Retrieved 24 June 2022.
  21. ^ a b c d e f g h i j k l m "Board of Directors – Midland Bank Ltd". Retrieved 24 October 2022.