One of the most prestigious business magazines in the world, ‘Global Finance’ has recently published their list of awardees of the Best Banks in Asia Pacific for the year 2014. This list includes names of 30 banks from the Asia Pacific Region. The names of the banks have been selected through a strict survey. They have been announced based on their performances, and their services provided to their customers.
United Commercial Bank Limited, of Bangladesh has been selected as one of the Best Emerging Market Banks by Global Finance, in the Asia Pacific Region.
Over the past five years UCB has shown a gradual and impressive progress in almost all the sectors. According to the data provided by the bank the Cost-Income Ratio has increased from 39.81 in 2009 to 50.24 till 31st March the current year; the credit deposit ratio has also seen a noticeable increase from 79.37 in 2009 to 85.33 till 2014 March. Other sectors too have included improvements compared to that of the previous year.
The bank has also projected improve in the foreign trade department and capital measures. Moreover the loans and advances show the increase in provision of loan which clearly indicates improvement in the business sector of the country. The bank increased their provision for loan in Agriculture, Transport, House building, Import, Industrial and several others.
In 2012 renowned personality Muhammed Ali has been appointed as the Managing Director of the United Commercial Bank. His experience, guidance and intelligence has steered into such achievements.
On the accords of receiving this award the Managing Director of United Commercial Bank, Muhammed Ali said, ‘It is undoubtedly a privilege Since the past few years our bank has shown noticeable improvements. The main reason for this improvement is our aim to manage the balance sheet. Rather than providing huge sums of loans, we focus of providing the loans in the right sector and we keep a track of the amount lend. We intend on doing business, we move forward focusing on this. And if we continue to do so we can expect to reach a better level in the near future.’
When asked about the influence on the employees on receiving the award Mr. Muhammed Ali said, ‘The employees will not only be influence but they will also be a part of such achievements.’
He included that they hopes to improve the structure in order to have a role in strengthening the financial structure of the country.
Concluding the conversation he included, ‘keeping the political issues and other distractions apart, the people of Bangladesh are very good, and laborious. They can, if they intend to improve the condition of the nation with a little effort.’
To be included the Global Finance’s Sixteenth Annual World’s Bank Awards Ceremony 2014 will be presented to the announced winners on 11th October, 2014 at the National Press Club in Washington DC.