OVERVIEW OF AGRANI BANK LIMITED : FINANCIAL STATEMENT ANALYSIS OVERVIEW OF THE BANK HISTORICAL BACKGROUND Agrani Bank, a leading nationalized commercial bank with 891 outlets strategically located in almost all the commercial areas throughout Bangladesh, overseas Exchange Houses and hundreds of overseas Correspondents, came into being on March 26, 1972 with the promulgation of Presidential Order no 26 of 1972. Under the Order Agrani Bank took over assets and liabilities of the erstwhile Habib Bank Ltd. and Commerce Bank Ltd. functioning in the then East Pakistan. The Bank enjoys the status of a company and functions in terms of the Banking Company Ordinance and regulations of Bangladesh Bank (the Central Bank) and upon such directions as may be changed from time to time by the Government of the People's Republic of Bangladesh. The Bank, in 1972, started operation with only 249 branches with its Head Office in Dhaka. There was hardly any liquid asset to run the operation of the Bank smoothly. The Bank resumed its operational activities with an authorized capital of Tk. 5.00crore and paid-up capital of Tk. 1.00crore. Initially the Bank had deposit of Tk. 96.17crore, advances of Tk. 76.56crore, borrowings of Tk. 29.48crore and investment of Tk. 11.00crore. The Bank had commercial relationship with only 41 overseas correspondents in 1972. Agrani Bank Limited, a leading commercial bank with 867 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. THE BANK'S VISION, MISSION
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OBJECTIVES
Vision: To become a leading bank of Bangladesh operating at international level of efficiency, quality and customer service. Mission: We operate ethically and fairly within the stringent framework set by our regulators. We fuse ideas and lessons from best practice to explore new avenues to become stronger, more efficient and competitive. We apply information and communication technology for the benefit of our customers and employees. We invest to strengthen the future of the Bank. Principle Objectives: 1. To mobilize national savings