AN STUDY ON FOREIGN EXCHANGE TRADE OF AGRANI BANK LIMITED: SHEWRAPARA BRANCH

Abstract

Agrani Bank Limited, a leading commercial bank with 931 outlets strategically located in almost all the commercial areas throughout Bangladesh, overseas Exchange Houses and hundreds of overseas Correspondents, came into being as a Public Limited Company on May 17, 2007 with a view to take over the business, assets, liabilities, rights and obligations of the Agrani Bank which emerged as a nationalized commercial bank in 1972 immediately after the emergence of Bangladesh as an independent state. Agrani Bank Limited started functioning as a going concern basis through a Vendors Agreement signed between the ministry of finance, Government of the People's Republic of Bangladesh on behalf of the former Agrani Bank and the Board of Directors of Agrani Bank Limited on November 15, 2007 with retrospective effect from 01 July, 2007.For performing the international trade related business skillfully, the bank has a large network of 328 foreign correspondents in the several countries of the world. Besides this, the bank is maintaining 41 nostro accounts with the world reputed banks.

The total export business handled by the bank amounted to tk. 7543 crore as of December 31, 2015 which is 2.97% of national figure. From 2012 to 2015, export is decreasing than others previous years. Major export items were readymade garments, shrimps, tea & nontraditional items.

The total import business amounted to BDT 10917 crores import financing as of December 31, 2015 which is 3.55% of national figure. Here from 2011 to 2015, the amount of it is decreasing, but next two years these are decreasing. ABL received foreign remittance for TK. 13,204 crores in the year 2015 with a growth rate of 11% percent out of TK. 12,980 crores of year 2014. Like year 2014, also in 2015 Agrani Bank Limited has been secured as the first among the State Owned Commercial Banks and stood second among the banks of Bangladesh. The investment portfolio of the bank at the end of the year 2015 stood at Tk. 20569.75 crores as against Tk. 15227.98 crores in the previous year, registering a growth of 35.08 percent. The operating income of the bank stood to tk. 4286 crores as on December, 2015. The operating expenditure of the bank stood at tk. 4308 crores in 2015 as against tk. 3096 crores in 2014. The bank’s total operating profit before amortization, provision and tax stood at Tk. 878 crores in 2015. Total deposit of the bank as on 31 December, 2015 is tk.43997.55 Core which shows an increase of tk. 38392.19 core over that of the previous year. The rate increase in deposit was 14.60%.