Bengal Commercial Bank Limited

Bangladesh Bank provided a letter of intent to Bengal Commercial Bank Limited in February 2019 along with two other banks, Community Bank Bangladesh and Citizens Bank PLC.[3][4] Bengal Commercial Bank Limited was established on 23 February 2020 by the Bengal Group of Industries.[5][6] The Bank was originally called Bengal Bank.[6] Bangladesh Bank initially opposed the license of the new bank as it believed the market was oversaturated.[6] It relented following pressure from the government and the minister of finance, A. M. A . Muhith.[6] In March 2021, the Minister of Finance, AHM Mustafa Kamal, inaugurated the bank at the Pan Pacific Sonargaon.[7] Tarik Morshed was the first managing director of the bank and Md Jasim Uddin the chairman of the bank.[7] KM Awlad Hossain was appointed the deputy managing director of the bank.[8] It was the 60th bank in Bangladesh.[9]

In May, chairman of the bank, Md. Jashim Uddin, was elected president of Federation of Bangladesh Chambers of Commerce and Industry.[10] Bengal Commercial Bank Limited signed an agreement with Credit Rating Information and Services Limited in August for a credit rating of the bank.[11] The bank had a net loss of 188 million taka in 2021.[12]

Bengal Commercial Bank held their annual business conference in their headquarters in Gulshan in January 2022.[13] Bengal Commercial Bank Limited signed an agreement with Jamuna Bank in June over licensing Visa.[14] It signed an agreement with Bengal Islami life Insurance Limited in June.[15] On 19 September 2022, Bengal Commercial Bank Limited signed a deal with Trust Bank to transfer money using Ria Money Transfer.[16][17] It is also linked to the money transfer service of Nagad.[18] In October Bengal Commercial Bank Limited signed an agreement with Babuland.[19] It opened its 12th branch in Chittagong.[20] Its 13th branch is in Keraniganj.[21] It had a capital shortfall of 23 million taka.[22]