“A Brief Description of Jamuna Bank Limited (JBL) has been Furnished”
Chapter 01
1. Background of the Study:
Institute of Business Studies (IBS) of Darul Ihsan University Bangladesh (DIU) launched MBA Program to cater for the needs of trained MBA graduates for the business communities of Bangladesh. Rapid and large-scale economic development is dependent on the promotion of efficient business people in a country which acts as a strong catalyst agent for the purpose. Highly trained MBA personnel are a must for the realization of this economic aspiration of our country. IBS, therefore, embanked upon this venture for realizing the economic goal of the nation.
As a partial fulfillment of the MBA program, internship is a requirement for MBA students at the end of the completion of all the credit courses. Under internship program students are placed in an organization or a financial institution for undergoing an internship for a period of 3 months in order to make us familiar with the real world situation and practical experience in a business firm.
As a MBA student and as per requirement of this institution, attached with an organization to do my internship program for three months. The completed internship from “Jamuna Bank Ltd”, a commercial and service oriented financial institution. During that time have worked in various sectors and tried to obtain practical knowledge as far as could. From overall observation felt special interest on investment. So, will mainly emphasize on the investment through discussing overall banking tasks and marketing of bank’s product and development.
1.1 Prolegomenon:
Modern banks play an important part in promoting economic development of a country. Banks provide necessary funds for executing various programs underway in the process of economic development. They collect savings from large masses of people scattered throughout the country, which in the absence of banks would have remained idle and unproductive. These scattered amounts are collected, pooled together and made available to commerce and industry for meeting the requirements. Economy of Bangladesh is in the group of world’s most underdeveloped economics. One of the reasons may be its underdeveloped banking system. Government as well as different international organizations have also identified that underdeveloped banking system causes some obstacles in the process of economic development. So they have highly recommended to reform financial sector. Since 1990, Bangladesh government has taken a lot of financial sector reform measurements for making financial sector as well as banking sector more transparent. Formulation and implementation of these reform activities have also been participated by different international organizations like world Bank, IMF etc.
1.2 Rationale of the Study:
They asked to work on Marketing of Bank Product, Development and Limitation in the Jamuna Bank Ltd. (JBL) at Dilkhusha main Branch, Dhaka. Bank plays an important role in the business sectors and in the industrialization of a country. Banks take deposits from the customers against interest and lend it to the borrowers against interest for a time being. To perform these functions bank has to do a lot of works such as deposits collection, loans & advances appraisal and management system, foreign exchange transactions, general banking etc. Hence these issues of banking have been selected for study. The banks work within some conceptual frameworks such as GAAP & IAS, which are guidelines for the whole process. So the application of GAAP & IAS in the preparation of financial statements is very important.
1.3 Origin of the Study:
All over the world the dimension of banking has been altering rapidly due to deregulation, technological modernism and globalization. Now bank must complete the market place both with local institution as well as foreign ones. To survive in this competitive banking world, banks entail to develop appropriate financial structure, enlarge professionalism in the sense of developing appropriate manpower structure and expertise and experience.
This report originated as an academic requirement of MBA program of Darul Ihsan University Bangladesh. After completion of the program period a student must submit the report on the assigned topic to the supervisor and to the department. The duration of the program is three months.
1.3 Objectives of the Study:
The main objectives of the study are:
- To find out the reality of the practical life.
- To fulfill the requirements for the completion of postgraduate (MBA) program.
The secondary objectives of this report are:
- To develop the practical knowledge by the practical orientation of work.
- To build up the pillar of the career for near future.
- Toknow about Jamuna Bank Limited’s (JBL) orientation activities.
- To know about credit orientation of JBL.
- To identify the customer service of JBL.
- To know the investment decision.
- To know the mode of investment.
- To learn the making process of the proposal for approval of the head office.
- To learn the Lending Risk Analysis (LRA).
- To know the dealings process with the Bangladesh Bank (BB).
- Above all, to know the overall banking process.
1.4 Scope of the Study:
Jamuna Bank Limited (JBL) is now well growing and it contains fourteen branches in Dhaka and outside of the Dhaka city. The scope of the study will be limited to the organizational setup, function and operation of the JBL in Bangladesh. This report mainly encompasses the performance of Jamuna Bank Limited in comparison with the General Banking. For the purpose of my internship program, assigned in the Foreign Exchange Branch at JBL and this paved me the way to get myself familiarized with banking environment for the first time indeed. Having an opportunity to gather experience by working in different departments of the branch.
1.5 Limitations of the Study:
This internship report is the first assignment outside our course curriculum in the practical life. The students of “The Department of Master of Business Administration” just have completed their formal education stage. After completing the institutional experience, practical performances in the formal stages become difficult. So in this report our lack of proper knowledge greatly influenced the performance. Besides have to face some other limitations which are:
- Three months time is not enough for such an extensive study. It is very difficult to collect all the required information within such a short period.
- Lack of availability of data.
- Improper combination among various departments.
- Time is a limitation that would mostly withstands a comprehensive study on the topic selected.
- Up-to-date information were not available..
- Don’t give the data from their source document
- Unwilling to give more information because of extra harassment without their responsibility.
- The banker is very busy with his job, which leads a little time to consult with.
- They are employees so have no eagerness to supply more because of extra hardness.
- Due to some legal obligation and business secrecy banks are reluctant to provide data. For this reason, the study limits only on the available published data and certain degree of formal and informal interview.
- Category wise export, import, guarantee business, amount and percentage of classified loan originated from the international trade are missing in the report due to restriction.
1.6 Methodology of the Study:
Different data and information are required to meet the goal of this report. Those data and information were collected from various sources, such as primary and secondary data which are showed below:
(i) Primary Sources of Data:
- Personal observation.
- Face to face conversation of the officers.
- Face to face conversation of the clients.
- Working at different desks of the bank.
(ii) Secondary Sources of Data:
- File study.
- Annual report of Jamuna Bank Limited (2008).
- Statement of affairs.
- Bank rate sheet.
- Internet.
- Progress report of the Bank.
- Bangladesh Bureau of Statistics’s report.
- Several kinds of academic test-book and training sheet.
- Different publications regarding banking function.
1.7 Structure of the Report:
In the very beginning of this report, a brief description of Jamuna Bank Limited (JBL) has been furnished. Then in the subsequent chapters, elaboration of the three departments of branch, say General banking, Credit section and investment have been presented. At last few pages of the main report, some problems of banking which are observed while doing work in the branch are detected along with some recommendations to over come these problems. At the end of this report appendices and bibliography are added.
Chapter 02
2. Banking Sector in Bangladesh:
In 1971, Bangladesh, which was East Pakistan, emerged as an independent country. It immediately nationalized all the banks except 3 foreign banks. Six nationalized banks were thus formed. In 1983 a new industrial policy was implemented allowing private sector to participate in industrialization. As a part of this process, two nationalized commercial banks were again denationalized and a number of private commercial banks were allowed to operate.
Banks play a very important role in international trade. Now a days no country can thrive without international trade. Moreover banks provide some other non-traditional services like factoring, issuing guarantees; which are very much supportive to modem business.
2.2 An Overview of the Organization:
Jamuna Bank Limited (JBL) is a banking company registered under the Companies Act, 1994 with its Head Office at Chini Shilpa Bhaban, 3, Dilkusha C/A, Dhaka-1000. The bank started its operation from 3rd June 2001.
Jamuna Bank Limited is a highly capitalized new generation bank with an authorized capital of Tk. 4,000.00 million and paid-up capital of Tk. 1,313.26 million. The total capital/equity of the bank stands at Tk. 2,444.33 million as on December 31, 2008. Currently the Bank has 43 (forty Three) branches- 16 in Dhaka City, 8 in Chittagotang, 4 in Gazipur, 3 in Sylhet, 1 in Bogra, 2 in Naogaon, 1 in Munshiganj, 1 in Shirajganj, 1 in Rajshahi, 1 in Narayanganj, 1 in Kushtia, 1 in Dinajpur, 1 in Noakhali and 2 in Comilla.
The Bank undertakes all types of banking transactions to support the development of trade and commerce of the country. JBL’s services are also available for the entrepreneurs to set up new ventures and BMRE of industrial units. Jamuna Bank Ltd., the only Bengali named new generation private commercial bank, was established by a group of winning local entrepreneurs, conceiving an idea of creating a model banking institution with different outlook to offer the valued customers, a comprehensive range of financial services and innovative products for sustainable mutual growth and prosperity. The sponsors are reputed personalities in the filed of trade, commerce and industries.
The bank is being managed and operated by a group of highly educated and professional team with diversified experience in finance and banking. The management of the bank constantly focuses on understanding and anticipating customers’ need. The scenario of banking business is changing day by day, so the bank’s responsibility is to develop strategy and new products to cope with the changing environment. Jamuna Bank Ltd. has already achieved tremendous progress within only eight years. The bank has already ranked as one of top quality service providers & is known for its reputation.
At present the bank has 41 real-time centralized online banking branches (Urban & Rural) throughout the country having smart IT-Backbone. Besides this traditional delivery point, the bank has ATM of its own, sharing with other bank partners & consortium throughout the country.
The operation hour of the Bank is 9:00 A.M. To 5:00 P.M. from Sunday to Thursday with transaction hour from 9:00 A.M. to 3:00 P.M. The Bank remains closed at Friday and Saturday including government holidays.
2.3 Mission, Vision, Strategy Statement:
(i) Vision:
- To become a leading banking institution and to play a pivotal role in the development of the country.
(ii) Misson:
The bank is committed to satisfy the diverse needs of its customers through an array of products at a competitive price by using appropriate technology and providing timely service so that a sustainable growth, reasonable return and contribution to the development of the country can be ensured with a motivated and professional work-force.
(iii) Strategies:
- To manage and operate the bank in the most efficient manner to enhance financial performance and to control cost of fund.
- To strive for customer satisfaction through quality control and delivery of timely services.
- To identify customers’ credit and other banking needs and monitor their perception towards our performance in meeting those requirements.
- To review and update policies, procedures and practices to enhance the ability to extend better service to customers.
- To train and develop all employees and provide them with adequate resources so that customers’ needs can be reasonably addressed.
- To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures with employees in a timely fashion.
- To cultivate a working environment that fosters positive motivation for improved performance.
- To diversify portfolio both in the retail and wholesale market.
- To increase direct contact with customers in order to cultivate a closer relationship between the bank and its customers.
(iv) Corporate Slogan:
JBL’s corporate slogan is “Your Partner for Growth”.
(v) Sponsors:
The sponsors of Jamuna Bank Limited are highly successful leading entrepreneurs of the country having stakes in different segments of the national economy. They are eminent industrialists & businessmen having wide business reputation both at home & abroad.
2.4 Management:
JBL is managed by highly professional people. The present Managing Director of the bank is a forward-looking senior banker having decades of experience and multi discipline knowledge about credit both at home and abroad. He is supported by an educated and skilled professional team with diversified experience in finance and banking. The management of the bank constantly focuses on the understanding and anticipating customers’ needs and offer solution therefore. Jamuna Bank Limited has already achieved tremendous progress within a short period of its operation. The bank is already ranked as one of the quality service providers & known for its reputation.
2.5 Service:
Jamuna Bank Limited offers different types of corporate and personal banking services involving all segments of the society within the preview of the rules and regulations as laid down by the Central Bank and other regulatory authorities.
(i) Deposit Products:
(a) All Types of Deposit Accounts:
The client can maintain different types of deposit accounts such as Current, Savings, STD, FDR and Foreign Currency Account according to his necessity and convenience.
| (b)Special Deposit Schemes: | |
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| (ii) Loan Products: | |
| (a) General Loan Facility: | |
| Letter of Credit, Bank Guarantee, Cash Credit, SOD, Loan (General), Hire Purchase, Lease Finance, LIM, LTR, Work-Order Finance, Export Finance, House Building Loan, LDBP and FDBP. | |
| (b) SME Credit Scheme: | |
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| (iii) Electronic Products: | |
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| (iv) Retail Credit Products: | |
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| 2.6 JBL Corporate Structure:
Employees of JBL share certain common values, which helps to create a JBL Culture. |
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2.7 Objectives:
- To establish relationship banking and improve service quality through development of Strategic Marketing Plans.
- To earn and maintain CAMEL rating ‘Strong’.
- To remain one of the best banks of Bangladesh in terms of profitability and assets quality.
- To introduce fully automated systems through integration of information technology.
- To ensure an adequate rate of return on investment.
- To keep risk position at an acceptable range (including any off balance sheet risk).
- To maintain adequate liquidity to meet maturing obligations and commitments.
- To maintain a healthy growth of business with desired image.
- To maintain adequate control systems and transparency in procedures.
- To develop and retain a quality work-force through an effective Human Resource Management System.
- To ensure optimum utilization of all available resources.
- To pursue an effective system of management by ensuring compliance to ethical norms, transparency and accountability at all levels.
2.10 Composition of the Board (Board of Directors & Sponsors):
(i) Chairman:
- Mr. Sakhawat, Abu Khair Mohammad
(ii) Vice Chairman:
- Mr. Md. Ismail Hossain Siraji
(iii) Directors:
- Engr. A. K. M. Mosharraf Hussain
- Engr. Md. Atiqur Rahman
- Al-Haj Nur Mohammed
- Mr. Md. Tajul Islam
- Al-Haj Md. Rezaul Karim Ansari
- Mr. Md. Belal Hossain
- Mr. Md. Mahmudul Hoque
- Mr. Farhad Ahmed Akand
- Mr.Kanutosh Majumder
- Mr. Gazi Golam Murtoza
- Mr. Mohammad Nurul Alam
- Mr. Md. Motior Rahman
- Independent Director Managing Director
(iv)Sponsors:
- Al-Haj M. A. Khayer
- Mr. Md. Sirajul Islam Varosha
- Mr. Golam Dastagir Gazi
- Mr. Fazlur Rahman (Bir Protik)
- Mr. Md. Irshad Karim
- Mr. Shaheen Mahmud
- Mr. Arifur Rahman
- Mr. Md. Sirajul Islam Varosha
- Mr. Golam Dastagir Gazi (Bir Protik)
2.8 Capital and Reserves (Taka in million):
| Sl. No. | Particulars | Year-2008 | Year-2007 | Year-2006 | Year-2005 | Year-2004 |
| 1. | Authorized Capital | 4000 | 4000 | 1600 | 1600 | 1600 |
| 2. | Paid up Capital | 1313.27 | 1225.71 | 1072.50 | 429 | 429 |
| 3. | Reserve Funds | 1131.07 | 651.92 | 629.33 | 487.46 | 245.65 |
| 4. | Tier“1”Capital (Capital & shareholder’s equity) | 2131.02 | 1651.58 | 1562.47 | 807.14 | 607.32 |
| 5. | Tier “2” Capital | 313.32 | 221.14 | 139.36 | 109.32 | 67.33 |
| 6. | Deposit (Core & Bank) | 7307.9 | 20924.0 | 17284. | 14454.1 | 10450.2 |
| 7. | Total Income | 4074.39 | 3102.99 | 2749.90 | 1727.2 | 1397.27 |
| 8. | Total Expenditure | 3034.19 | 2278.79 | 2048.58 | 1307.26 | 1088.44 |
| 9. | Income From Investment | 666.15 | 474.48 | 255.66 | 126.30 | 80.44 |
| 10. | Earning Per Share | 38.21 | 8.04 | 31.94 | 46.58 | 36.35 |
2.9 Management Structure:
- Management Hierarchy:
Managing Director
- Mr. Md. Motior Rahman
Deputy Managing Director
Mr. M. A. Salam
| Assistant Vice President | |
| Mr. Md. Majibur Rahman | |
Mr. M. A.Salam
- Mr.Md. Alauddin Al-Azad
Senior Executive Vice President
- Mr. A.K.M. Rashiduzzaman
- Mr. M. Shamsul Huq
- Mr. Md. Yunus Ali
Executive Vice President
- Mr. Md. Anwar Hossain
- Mr. Md. Mirza Elias Uddin Ahmed
- Mr. Md. Habibur Rahman
- Mr. M. Shamsul Arefin
- Mr. Md. Balayet Hossain
- Mr. A.K.M. Saifuddin Ahmed
- Mr. Mahboob Alam Choudhury
- Mr. Shahedul Alam Khan
- Mr. Abrar Hossain Khan
- Mr. Md. Zobaidul Islam
Senior Vice President
- Mr. Muhammad Ali Ashraf
- Mr. Md. Anwar Hossain
- Ms. Nur-E-Jannat Begum
- Mr. Manzurul Ahsan Chowdhury
- Mr. Md. Nazmul Hossain
- Mr. Khorshed Ahmed Nayeem
- Mr. Md. Elias Ali Akanda
Vice President
- Mr. Md. Mukhlesur Rahman
- Md. Fazlul Jalil (Jalal)
- Mr. Md. Monsur-Uz-Zaman
- Mr. Md. Md. Belal Hossain
- Mr. Ahmed Nawaz
- Mr. Md. Zashim Uddin
- Mr. Md. Gulam Mustafa
- Mr. Khandaker Zia Hassan
- Mr. Md. Mofazzal Hossain
- Mr. Md. Fazle Elahi Chowdhury
- Mr. Md. Abdus Sattar
Senior Assistant Vice President
- Mr.Md. Shahid Ullah
- Mr. S.M. Jamal Uddin
- Mr. Md. Monirul Alam Chowdhury
- Mr. Md. Mostafizur Rahman
- Mr. A.H.M. Monjur Morshed
- Mr. Md. Abdullah
- Mr. Engr. S.M. Anisuzzaman
- Mr. Md. Kamal Uddin
- Mr. Muhammad Bazlul Huq
- Mr. Syed Khakir Uddin Md. Munir
- Mr. Md. Shah Alam
- Mr. Md. Shamsur Rahman Majumder
- Mr. Chowdhury Reza Shahzaman Mahmud
- Mr. Sikder Mohammad Ali
- Mr. Md. Mokshed Ali Howlader
- Mr. Iqbal Akram Khan
- Mr. Mohammad Azam
- Mr. Md. Yasin Siddiqui
- Mr. Anwar Hakim
- Mr. A.F.M. Quamrul Hassan
- Mr. Md. Shahidul Islam
- Mr. Md. Harunoor Rashid
- Mr. Malik Muntasir Reza
- Mr. Ashim Kumer Biswas
- Mr. Zahurul Islam Khondker
- Mr. Borhan Uddin Ahmed
- Mr. Parvez Ahmed Khan
- Mr. S.M. Ashafuddoullah
- Mr. Sudatta Sebak Barua
- Mr. Md. Mozharul Haque
- Mr. Abu Rushd Md. Zubair
- Mr. Jamil Uddin Akhter
- Mr. Md. Hafizul Haque
- Mr. Md. Hafizul Haque
- Mr. Md. Ayub Ali
- Mr. Md. Farukuzzaman
- Mr. Md. Billal Hossain
- Mr. A.K.M. Shah Alam
- Mr. Md. Shahnewaz Sarker
- Mr. Md. Raisul Alam
- Mr. S.M. Mofizur Rahman
- Mr. Md. MOfazzal Mamun Khan
- Mr. Md. Nurul Islam Khan
- Mr. Mohammed Shahrior IslamMr. Md. Mizanur Rahman
- Mr. Abu Sayed Md. Yousuf
- Mr. Abdul Mannan
- Mr. Mominul Abedin
- Mr. Molla Belayet Hossain
- Mr. Md. Shahid Ullah
- Mr. Md. Nazrul Islam
- Mr. Sadhan Kumar Chakma
- Mr. Md. Mahfuzul Karim
- Mr. Abdul Hamid Chowdhury
- Mr. Md. Abdul Bashar Mazumder
- Mr. Mustaq Ahmed RizviMr. Masudur Rahman
- Mr. Ariful Ferdous
2.10 Risk Management:
The risk management of Jamuna Bank Limited evolves identification, measurement, monitoring and controlling risk to ensure that:
- The Bank’s risk exposure is within the limits established by Board of Directors.
- The Bank’s risk taking decisions are in line with the business strategy and objectives set by Board of Directors of the bank as well as Bangladesh Bank guidelines.
- The bank’s risk taking decisions are explicit and clear.
- Sufficient capital is available to take risk.
(i) Market Risk:
Jamuna Bank Limited is exposed to market risk in variety of ways. Market risk exposure is mainly explicit in portfolio of Bangladesh’s Government Treasury Bonds held under HFT (held for trading) conversely. Market risk is implicit such as Interest Rate Risk due to mismatch of loans and Foreign Exchange Risk due to maturity mismatch of foreign currency positions. The portfolios are being revalued at an interval at current market price of marketing to market basis. Besides, the portfolios have been synchronized in line with Bangladesh Bank guidelines of risk based capital adequacy for Interest Rate Risk and Foreign Exchange Risk.
(ii) Interest Rate Risk:
- Interest Rate Risk arises when there is a mismatch between positions. The bank’s landing, funding and investment activities give arise to Interest Rate Risk. The Bank assesses Interest Rate Risk in earning perspective which is traditional approach to Interest Rate Risk assessment and obtained by measuring the change in the Net Interest Income (NII) and Net Interest Margin (NIM) which means the difference between total interest income and total interest expenses.
- Foreign Exchange Risk
- The Bank also exposed to Interest Rate Risk, which arises from the maturity mismatching of foreign currency position. It also includes settlement risk. The total holding position is being revalued on monthly basis.
2.11 Key Figures:
- Centralized Database
- Independent Platform
- Real time any branch banking
- Internet Banking Interface
- ATM Interface
- Corporate MIS facility
2.12 Human Resource Development:
The functions of Human Resources Department are strategic, planning and policy formulation for compensation, recruitment, promotion, training, development and appraisal. This department also contributes to employees’ performance by providing standard training.
(i) Operation:
- To assist the top-level decision making process on compensation, promotion, training, development and appraisal.
- Communicates with all external and internal entities.
- Monitors leave, payroll, increments and allowances etc.
- Maintains financial flows related to HRD.
- Plans and arranges the development training programs for the employees.
- Ensures the standard of the group.
- Helps to ensure the cost effectiveness.
- Provides full logistics support to all departments for quality services.
- Deals with inter communication for administrative issues.
- Ensures value acceptability.
- Plans for development of the company.
- Facilitates admin officers’ job.
- Develops plans for support services.
- Ensures security of the company.
- Conducts the performance evaluation.
- Executes recruitment arrangements.
2.13 District Base Branch Distribution:
(1) Mohakhali Branch, Dhaka
Ismail Mansion
32 Mohakhali C/A,Dhaka
PABX: 9887269, 9889273-4
SWIFT: JAMUBDDH035
(2) Sonargaon Road Branch, Dhaka
National Plaza (1st Floor)
109, Bir Uttam C.R. Datta Road, Dhaka – 1205, Bangladesh.
Tel: 9677048, 9677049
Fax: 9669206
PABX: 9670655, 9677050
SWIFT: JAMUBDDH039
Branch Manager:
Mr. M. Shamsul Huque
Senior Executive Vice President:
Engr. S.M. Anisuzzaman
(3) Moulvibazar Branch, Dhaka
Mustaquim Mansion
77/3, Moulvibazar, Dhaka.
Tel: 7315965, 7315974-5
PABX: 7315025, 7315026
SWIFT: JAMUBDDH036
(4) Goala Bazar Branch, Sylhet
New Plaza, Goala Bazar
Osmani Nagar, Balaganj, Sylhet
PABX : (08222) 87352-3
Branch Manager:
Mr. Khandaker Zia Hassan
Vice President:
Mr. Md. Harunoor Rashid
(5) Agrabad Branch, Chittagong
Jahan Building No. 476-77, Agrabad C/A, Chittagong
Tel: (031) 813272, 710071
PABX: (031) 727727
SWIFT: JAMUBDDH038
(6) Dilkusha Branch, Dhaka
33, Dilkusha Commercial Area, Dhaka-1000
Tel: 9555548
PABX: 9551419, 955795, 9565608
SWIFT: JAMUBDDH037
Branch Manager:
Mr. Zobaidul Islam
Executive Vice President:
Mr. M. Shamsul Arefin
(7) Beani Bazar Branch, Sylhet
Fatehpur, Union 6 Beani Bazar, Sylhet
Phone :08223 – 88022
(8) Sylhet Branch, Sylhet
Sahir Plaza , 7647, Zinda Bazar, Kotoali, Sylhet
Tel: 725239
PABX : 0821-725409
Branch Manager:
Mr. Nabil Ahmed
Jr. Asstt. Vice President:
Mr. Chowdhury Reza
Sr. Asstt. Vice President:
Shahzaman Mahmud
(9) Gulshan Branch, Dhaka
Land View Commercial Centre, 28, Gulshan North C/A (2nd Floor), Gulshan Circle-2, Dhaka-1212
Tel: 8860350
PABX: 8861281, 8852540
SWIFT: JAMUBDDH043
Branch Manager:
Mr. Belal Hossain
Vice President:
Mr. Sikder Mohammad Ali
(10) Dhanmondi Branch, Dhaka
House –17 (Ground Floor) & 17/A (1st Floor), Road- 06, Dhanmondi R/A, Dhaka,
Tel: 9676553, 9662668, 8621805
(11) Nayabazar (Islami Banking) Branch
10/3 Malitola, North South Road, Bangshal, Dhaka-1100
Tel: 9553977
PABX: 7176799
SWIFT: JAMUBDDH040
Branch Manager:
Mr. Md. Mofazzal Hossain
Vice President:
Mr. Khorshed Ahmed Nayeem
(12) Mohadebpur Branch, Naogaon
Mohadevpur, Naogaon
Tel: 88-07426-75137
(13) Naogaon Branch, Naogaon
247, Sadar Road, Naogaon
Tel: 0741-61840
SWIFT: JAMUBDDH044
Branch Manager:
Mr. Md. Ataur Rahman
Junior Asstt. Vice President:
Mr. Fazle Elahi Chowdhury
(14) Khatunganh Branch, Chittagong
1575, Pathorghata, Chittagong
Tel: 031-848135
PABX: 031-625454, 811430
SWIFT: JAMUBDDH042
(15) Konabari Branch, Gazipur
Plot # A-140&141(partial), BSCIC Industrial Area, Konabari, Gazipur
Tel: 9289045
Branch Manager:
Mr. Manjurul Ahsan Chowdhury
Senior Vice President:
Mr. Md. Shahid Ullah
(16) Bhatiyari Branch, Chittagong
Uttarbazar, Newaz Market, Bhatiyari, Shitakundu, Chittagong
Tel: 031-752187, 2780025
(17) Foreign Exchange Branch, Dhaka
Chini SHilpa Bhaban, 3, Dilkusha C/A, Dhaka
Tel: 9564258
PABX: 9571365
SWIFT: JAMUBDDH045
Branch Manager:
Mr. Md. Yashin Siddique
Senior Asstt. Vice President:
Mr. Md. Habibur Rahman
(18) Jubilee Road Branch (Islamic Banking), Chittagong
Modina Tower, Jubilee Road, Chittagong
(19) Chistia Market Branch, Dhaka
Chistia Market (Gausia Market), 393/B Elephant Road
Tel: 9673742
Branch Manager:
Mr. Mohammad Azam
Senior Asstt. Vice President:
Mr. Anwar Hakim
(20) Bogra Branch, Bogra
Kazi Nazrul Islam Sarak, Borogola, Bogra
Tel: 051-69834-6
(21) Baligaon Branch, Munshiganj
Aziz Plaza , Baligaon Bazar, Tongibari, Munshiganj
Tel: 0691-74078
Branch Manager:
Mr. Ghulam Mustafa
Vice President:
Mr. Md. Moazzem Hossain
(22) Narayanganj Branch
Holding# Old: 137, New: 207, B.B. Road, Chasara, Narayanganj
Tel: 7635166
(23) Motijheel Branch, Dhaka
2, DIT Avenue (Ext.), Motijheel C/A, Dhaka-1000
Tel: 9554467
PABX: 9554475
Branch Manager:
Mr. Muhammad Bazlul Huq
Senior Asstt. Vice President:
Mr. Md. Anwar Hossain
(24) Rajshahi Branch, Rajshahi
88, Shaheb Bazar (Zero Point), Rampur ,Rajshahi.
Tel: 0721-812568
PABX: 0721-812569-70
(25) Bashurhat Branch, Noakhali
Bashurhat, Companygonj, Noakhali
Tel: 03223-56032
PABX : 03223-56031
FAX: 03223-56043
Branch Manager:
Mr. Abrar Hossain Khan
Senior Vice President:
Mr. Md. Majibur Rahman
(26) Dhoalikhal Branch, Dhaka
119/B/1(New), Disttillary Road,
P.S: Sutrapur, Dhaka.
Tel: 7410415
(27) Bahddar Hat Branch, Chittagong
1068/69/70 Rahman Centre, Arakan Road, Bahddar Hat More, Chittagong.
Tel: 031-2551851-3
Branch Manager:
Mr. Md. Abdullah
Senior Asstt. Vice President:
Mr. Md. Shahidul Islam
(28) Sirajganj Branch, Sirajganj
973, 974 and 975 S.S. Road, Hossain Plaza, Shirajganj Municipality,
Thana : Shirajganj Shodor, Shirajganj.
Tel : 0751 – 64377 – 78
Fax : 0751 – 64377 – 79
(29) Banani Branch, Dhaka
Tower Hamlet (2nd Floor), 16, Kemal Ataturk Avenue, Banani Commercial Area, Dhaka – 1213, Bangladesh.
Tel : 883 6630, 8836631, 8836632
Fax: 8836630
PABX: 8836631, 8836632 (Ext: 101)
Branch Manager:
Mr. Abu Rushd Md. Zubair
Asstt. Vice President:
Mr. A.F.M. Quamrul Hassan
(30)Ashulia Branch, Dhaka
1159, Nigar Plaza & Hakim Plaza (Opposite of Fantasy Kingdom), Jamghara, Ashulia, Savar, Dhaka.
Tel : 7788437
(31) Mawna Branch, Gazipur
172 Mawana Chowrasta Powrashava, Sripur, Gazipur.
Tel : 06825 51336-7
Branch Manager:
Mr. Syed Sakir Uddin Md. Munir
Senior Asstt. Vice President:
Mr. Md. Shamsur Rahman Mojumder
(32) Dinajpur Branch, Dinajpur
Holding No. 562/533 & 563/534, Nimtala, Balubari, Kotowali, Dinajpur.
Tel : 0531 51849-50
(33) Kushtia Branch, Kushtia
21-22 N. S. Road (1st Floor), MH Bhaban (Roxy More), Kushtia Sadar, Kushtia.
Tel : 071 73729, 071 73739
Branch Manager:
Mr. Md. Aiyub Ali
Asstt. Vice President:
Mr. Billal Hossain (CC)
(34) Kadamtali Branch, Chittagong
Khaleque Manson, 1167 D.T. Road, Kadamtoli, Chittagong
Tel: 0312514178, 0312514179
Fax: 0312514178
Branch Manager
Md. Abdul Hamid Chowdhury
(36) Aganagar Branch
Haji Anwar Hossain Complex, East Aganagar, Keranigonj
Tel: 7762295,7762296
Branch Manager:
S.M. Mofizur Rahman
(37) Uttara Branch, Dhaka
Singapur Plaza 17, Mymensingh Road, Sector-3, Uttara, Dhaka
Mobile : 0173-329329
(37) Comilla Branch, Comilla
Trical Tower, 634/581 South Thakurpara, Laksham Road, Kandirpar, Comilla.
Mobile : 01730084064
(38) Azadi Bazar Branch, Chittagong
Nazir Market, Azadi Bazar, Fatikchari, Chittagong.
Mobile: 01817-751857
(39) Laksham Branch, Comilla
Holding No: 967, AB Plaza (2nd Floor), Laksham Powrashava
Branch Manager:
Mr. Osman Gani
Junior Asstt. Vice President:
Mr. Md. Nurul Islam Khan
(40) Anderkilla Branch, Chittagong
Holding#479/510 (1st, 2nd, 3rd Floor), “Bashar Chamber”, Ward No. – 02, Chittagong City Corporation
P.S: Kotowali
(41) Mirpur Branch, Dhaka
203/A, 203/1, Senpara Parbata (1st – 2nd Floor), Mirpur-10, Dhaka.
Tel: 8051931-33
Branch Manager:
Mr. Md. Shahid Ullah
Senior Asst. Vice President:
Mr. M. A. Wadud
(42) Malibag Branch, Dhaka
67, Khilgaon, Chowdhurypara, DIT Road, Dhaka.
TEL: 01715025383
Branch Manager:
Mr. S. M. Jamal Uddin
(43) Madaripur SME Centre
Holding # 676, Puran Bazar, New Market Complex, Madaripur
Tel: 9338251, 8319595
Fax: 9353039
Branch Manager:
A.H.M. Momenur Rahman
(44) Thakurgaon Branch
Masud Heights, 529, Shahid Md. Ali Road, Thakurgaon
Mobile: 01712529392
Branch Manager
Md. Abdul Bashar Murshed
2.14 Financial Analysis:
(i) Balance Sheet (Property and Assets)
Cash: 1,864,959,818 1,379,174,865
Cash in hand (including foreign currency) – 357,873,767 412,510,308
Balance with Bangladesh Bank and its agent banks (including foreign currency) – 1,507,086,051 966,664,557
Balance with other banks and financial institutions is: 2,343,451,681 1,877,145,119
In Bangladesh- 1,999,453,853 1,575,483,812
Outside Bangladesh- 343,997,828 301,661,307
Money at call on short notice: 50,000,000 120,000,000
Investments : 4,238,625,873 5,390,032,112
Government- 4,185,459,444 5,346,422,108
Asset Pledge as Securities- 25,000,000 –
Others- 28,166,429 43,610,004
Loans and Advances : 21,036,861,012 16,617,450,517
Loans, Cash Credit, Overdrafts, etc.- 18,917,459,281 14,565,241,601
Bills Purchased & Discounted- 2,119,401,731 2,052,208,916
Fixed assets including premises, furniture and fixtures: 609,023,043 174,401,040
Other Non-banking assets: 1,503,708,072 847,200,403
Total Property & Assets: 31,646,629,499 26,405,404,056
Liabilities & Capital:
Borrowings from Bangladesh Bank, other banks, financial institutions and agents- 396,123,775 2,298,932,000
Deposits and other accounts: 27,307,936,141 20,924,021,090
Current Accounts and other Accounts- 3,283,210,586 2,625,670,594
Bills Payable- 412,026,029 354,436,223
Savings Bank Deposits- 1,679,395,629 1,407,320,842
Fixed Deposits- 16,360,184,896 13,125,131,370
Bearer Certificates of Deposit:
Short Term Deposits- 1,335,158,019 833,809,802
Deposit Under Special Scheme- 4,131,800,411 2,525,084,573
Foreign Currency Deposit- 106,160,571 52,567,686
Other liabilities: 1,781,837,741 1,525,960,928
Total Liabilities: 29,485,897,657 24,748,914,018
2.15 Capital / Shareholders’ Equity:
Paid up Capital- 1,313,265,200 1,225,714,200 (1,31,32,652 Ordinary shares of Taka 100 each)
Share Premium- 85,800,000
Statutory Reserve- 503,839,433 330,676,426
Revaluation Reserve- 29,711,551 4,907,671
Surplus in Profit and Loss A/C- 313,915,658 9,391,741
Total Shareholders’ Equity- 2,160,731,842 1,656,490,038
Total Liabilities and Shareholders’ Equity: 31,646,629,499 26,405,404,056
2.16 Profit and Loss Account (Income Statement):
Jamuna Bank Limited Profit and Loss Account For the year ended on December 31, 2008 (Particulars 2008 2007)
| Interest Income & Profit on Investment | 2,890,654,531 | 2,230,265,913 | ||
| Less: Interest paid on deposits and borrowings, etc. | 2,321,887,137 | 1,774,389,203 | ||
| Net interest income | 568,767,394 | 455,876,710 | ||
| Investment income | 666,152,122 | 474,482,522 | ||
| Commission, exchange and brokerage | 419,954,455 | 320,726,444 | ||
| Other operating income | 97,627,800 | 77,519,246 | ||
| Total operating income (A) | 1,752,501,771 | 1,328,604,922 | ||
| Less: operating Expenditure | ||||
| Salary and allowances | 405,191,749 | 232,631,098 | ||
| Rent, taxes, insurance, electricity, etc | 73,978,759 | 62,905,322 | ||
| Legal expenses | 1,720,530 | 1,541,252 | ||
| Postage, stamps, telecommunication, etc. | 28,109,490 | 28,712,320 | ||
| Stationery, Printings, Advertisements, etc. | 22,133,178 | 26,066,423 | ||
| Directors’ fees & other expenses | 6,124,142 | 4,157,603 | ||
| Auditors fees | 100,000 | 100,000 | ||
| Managing Director’s salary & allowance | 7,128,666 | 6,271,833 | ||
| Depreciation and repairs and maintenance of bank’s assets | 36,672,190 | 30,248,608 | ||
| Other expenses | 131,140,133 | 111,761,993 | ||
| Total Operaing Expenses (B) | 712,298,837 | 504,396,452 | ||
| Profit / (Loss) before provisions (C=A-B) | 1,040,202,934 | 824,208,470 | ||
| Provisions for loans, advances | 119,485,090 | 389,733,491 | ||
| Provision for off balance sheet expenses | 54,902,811 | 29,430,000 | ||
| Provision for other assets | – | – | ||
| Total Provision (D) | 174,387,901 | 419,163,491 | ||
| Total profit before taxes (C-D) | 865,815,033 | 405,044,979 | ||
| Contribution to Jamuna Bank foundation @0.5% of pre-tax profit | 4,329,075 | – | ||
| Provision for taxation for the year | 382,048,035 | 315,934,118 | ||
| Current tax | 379,594,588 | 311,747,167 | ||
| Deferred tax | 2,453,447 | 4,186,951 | ||
| Net profit after taxation | 479,437,923 | 89,110,861 | ||
| Retained surplus broght forward from previous year | 7,640,742 | 1,289,876 | ||
| Retained Surplus Before Appropriation | 487,078,665 | 90,400,737 | ||
| Appropriations: | ||||
| Statutory Reserve (20% on pre-tax profit) | 173,163,007 | 81,008,996 | ||
| Retained Surplus | 313,915,658 | 9,391,741 | ||
| Earnings Per Share (EPS) | 38 | 8.04 |
2.17 Cash Flow Statement
Jamuna Bank Limited Cash Flow Statements For the year ended December 31, 2008 (Particulars 2008 2007)
A) Cash flows from operating activities
Interest receipts 2,890,654,531 2,230,265,913
Interest payments ( 2,321,887,137) (1,774,389,203)
Fee and commission receipts 419,954,455 320,726,444
Payments to employees (412,320,415) (238,902,931)
Payments to suppliers (62,715,925) (64,939,375)
Income taxes paid (322,228,466) (195,926,625)
Receipts from other operating activities 97,627,799 77,519,246
Payments to other operating activities (209,841,781) (177,508,711)
Operating profit before changes in
Operating assets and liabilities (Note-A)(i) 79,243,061 176,844,758
Increase /Decrease in operating assets & liabilities
Loans and advances to the customers (4,419,410,495) (3,820,820,038)
Other assets (334,279,203) (136,272,565)
Deposit from other banks 889,911,762 605,818,146
Deposit from customers 5,390,745,898 3,017,376,419
Interest payable to the customers & banks 103,257,392 16,014,732
Other current liabilities (280,084,317) 104,385,229
Cash received from operating assets and liabilities (Note-A) (ii) 1,350,141,037 (213,498,077)
Net cash from operating activities (A=i+ii) 1,429,384,098 (36,653,319)
B) Cash flows from investing activities
Income received from investments 590,310,706 355,415,051
Proceeds from sale of securities (gain) 75,841,416 119,067,471
Payments for purchase of securities 15,443,575 222,423,951
Purchase of property, plant & equipment (468,164,364) (65,180,367)
Adjustment for property, plant & equipment 6,121,645 5,092,371
Net cash from investing activities 219,552,978 636,818,477
C) Cash flows from financing activities
Payments in borrowings (1,902,808,225) 1,680,584,500
Received from Initial Public Offering (IPO)
Cash Dividend
Net cash from financing activities (1,902,808,225) 1,680,584,500
D) Net increase/ decrease in cash and cash equivalent (A+B+C) (253,871,149) 2,280,749,658
E) Cash and cash equivalents at beginning year 8,722,742,092 6,441,992,433
F) Cash & equivalents at end of the period (D+E) 8,468