Midland Bank (Bangladesh)

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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

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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

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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

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