Prime Bank PLC. Financials and Investment Details

Prime Bank PLC is a leading financial institution in Bangladesh, offering a wide range of banking services to its customers.

The bank has a strong presence in the country, with numerous branches and sub-branches across the nation.

Prime Bank PLC operates with a clear vision to become a leading bank in the region, with a focus on customer satisfaction and innovative banking solutions.

The bank's commitment to customer satisfaction is evident in its wide range of services, including corporate banking, consumer banking, and investment banking.

Intriguing read: Bank Prime Lending Rate

Prime Bank PLC. has made significant strides in its financial performance.

In 2023, the bank's conventional banking including OBU reached a record high of 14.2 billion.

The bank's Islamic banking operations have shown fluctuations over the years, with a notable decrease in 2022.

Prime Bank PLC. has also seen a steady decline in remittance income from outside Bangladesh, with a decrease from 252 million in 2019 to 202 million in 2023.

Here's a breakdown of the bank's sales by activity for the fiscal period of December:

Prime Bank PLC.'s financial performance has been shaped by these various sales by activity.

Prime Bank PLC offers a range of investment products and services to cater to different needs and risk appetites.

Their investment products include Treasury Bills, Bonds, and Commercial Papers, which are considered low-risk and provide a stable return on investment.

These products are designed to be liquid and can be easily sold or traded on the market, making them a popular choice for investors looking for short-term gains.

A different take: Commercial Banks vs Investment Banks

This investment is worth funding because it qualifies for a partial green label and a 100% RI label.

The project's eligibility is due to Bangladesh's current status as a Least Developed Country, which is a key factor in its qualification.

Sixty percent of the loan facility will be on-lent to SME borrowers, providing them with the necessary financing to grow their businesses.

At least forty percent of all SME sub-loans will be dedicated to supporting Agriculture, Women and Youth sub-borrowers, promoting economic growth in these sectors.

The remaining forty percent of the facility will be used to support green projects that meet FMO's eligibility criteria, contributing to a more sustainable future.

This investment has the potential to make a significant impact in Bangladesh by promoting economic growth and sustainability.

On a similar theme: How Do Investment Banks Differ from Commercial Banks

Prime Bank has raised a total funding of $25M over 2 rounds, with its first funding round taking place on Feb 04, 2020.

The bank has managed to secure funding from a significant number of investors, with over 208K+ investors participating in its funding rounds.

Prime Bank's latest funding round was a Conventional Debt round on Aug 23, 2023, for $40M, which is a notable increase from its initial funding round.

Here's a breakdown of Prime Bank's funding rounds:

Prime Bank PLC has several competitors in the market. Scotiabank1832 ranks 1st, with a Tracxn Score of 73/100 and investors such as Seaside Private Capital and Colpatria.

The bank's competitors also include BRAC Bank2001, which has received a total funding of $42M from investors like IFC and IFC Asset Management Company.

Here's a list of Prime Bank's top 5 competitors, ranked by their overall rank:

As we explore the world of investors and competitors, let's take a closer look at the managers of Prime Bank PLC. Hassan O. Rashid is the CEO, a position he has held since March 13, 2021.

The CEO is responsible for making key decisions and overseeing the overall strategy of the bank. Hassan O. Rashid has been in this role for over two years.

One of the key members of the management team is Mohammad Rahman H. Chowdhury, who serves as the Director of Finance/CFO. He has been in this position since November 30, 2017.

Here is a list of the top managers at Prime Bank PLC:

The management team is led by Hassan O. Rashid, who has been in the CEO position since March 13, 2021, at the age of 57.

Prime Bank has a total of 3 institutional investors. One of them is FMO, a well-established investment firm.

These investors are instrumental in providing financial support to Prime Bank. They help the bank grow and expand its services.

Let's take a look at the top shareholders of Prime Bank PLC. Here are the top 5 shareholders:

These shareholders have a significant stake in Prime Bank PLC, with Mohammad Nader Khan holding the largest share.

Prime Bank has 3 institutional investors including FMO, Catalyst Principal Partners, and ITFC. These investors provide crucial support to the bank's growth and development.

Prime Bank has raised a total funding of $25M over 2 rounds, with its first funding round being on February 4, 2020. This initial funding round was a significant milestone for the bank.

The bank's latest funding round was a Conventional Debt round on August 23, 2023, for $40M. This latest round was led by a single investor, ITFC.

Here's a breakdown of Prime Bank's funding rounds:

This data highlights the bank's growth and the support it has received from its investors.

Prime Bank has several competitors in the market, including Scotiabank, which ranks first with a Tracxn Score of 73/100. Scotiabank is a commercial bank with a strong presence in Toronto, Canada.

BRAC Bank, a commercial bank from Dhaka, Bangladesh, ranks second with a Tracxn Score of 70/100 and has received $42M in funding from investors like IFC and IFC Asset Management Company.

Some of the notable competitors of Prime Bank include Mutual Trust Bank, Eastern Bank, Social Islami Bank, Dhaka Bank, Midland Bank, IDLC Finance, Islami Bank Bangladesh, and Standard Bank.

These competitors have varying levels of funding, with BRAC Bank and Social Islami Bank having received significant investments of $42M and $57.9M, respectively.

Here are the top 5 competitors of Prime Bank, ranked by their Tracxn Score:

Islami Bank Bangladesh, on the other hand, has a Tracxn Score of 55/100 and has not received any funding.

Prime Bank PLC. has made several significant announcements and reports over the years. Dr. M Mosttafa Shazzad Hasan joined the bank as an Independent Director and Chairman of the Audit Committee on February 22.

The bank has also appointed several notable individuals to key positions, including Nazia Kabir as the first female Independent Director, and Hassan O. Rashid as CEO and Managing Director.

Prime Bank PLC. has reported its earnings results for various quarters and years, with the most recent reports being for the Third Quarter and Nine Months Ended September 30, 2024, and the Second Quarter and Six Months Ended June 30, 2024.

If this caught your attention, see: What Is Prime Brokerage Definition

Here are some key dates for the bank's earnings reports:

The bank has also issued an unsecured non-convertible subordinated bond, and announced an address change in 2023.