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ONE Bank

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ONE Bank PLC
Company typePublic limited company
IndustryBanking
FoundedDhaka, Bangladesh
HeadquartersDhaka, Bangladesh
Key people
Mr. A.S.M. Shahidullah Khan[1] (Chairman)
Monzur Mofiz[1] (Managing Director)
ProductsBanking services
Consumer Banking
Corporate Banking
Investment Banking
Islamic Banking
Increase
Websitewww.onebank.com.bd

ONE Bank PLC (OBPLC) (Bengali: ওয়ান ব্যাংক) is a public limited commercial bank in Bangladesh.[2] It is in the business of taking deposits from public through various saving schemes and lending the fund in various sectors at a higher margin. A.S.M. Shahidullah Khan is chairman and Md. Monzur Mofiz is the managing director of One Bank PLC.[1]

HRC Group Chairman, Sayeed Hossain Chowdhury, served as the chairman of the Bank before being removed by Bangladesh Bank for delinquent loans.[3]

History

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ONE Bank Limited started its activities in Bangladesh from May 1999.[4] The Board of Directors consists of 6 members.[1] Former Chief of Bangladesh Navy, Admiral AMM Mohammad Aurangzeb Chowdhury, is an independent director of One Bank Limited.[1]

In January 2003, Bangladesh Bank fired the managing director of One Bank Limited, Mirza Ejaj Ahmed, for having links with Hundi accounts of Uttara Group of Industries and Doel Group.[5]

On 21 November 2004, One Bank signed an agreement with the Central Depository Bangladesh Limited to convert paper shares into electronic shares.[6] It purchased 40 million BDT worth of shares in Vanik Bangladesh Limited.[7] Vanik Bangladesh was later renamed to LankaBangla Finance Limited with Mohammad A Moyeen as its chairman.[8] It was established by Vanik Incorporation Limited of Sri Lanka with Bangladesh partners.[8] Sampath Bank and Chinkara Capital (Singapore) Pte Ltd were partners in the venture as well.[8]

In September 2007, Bangladesh Bank warned One Bank Limited for hiring a former managing director of the bank as a consultant violating banking rules.[9] In April 2008, One Bank Limited decided to increase its authorised capital to five billion BDT following instructions from Bangladesh Bank to all banks to increase their authorised capital.[10] One Bank Limited launched a one billion BDT mutual fund in June 2009.[11]

Farman R Chowdhury, managing director of One Bank Limited, signed an agreement with the Joint Secretary of Local Government Division, Shamima Nargis, and director of Digital Bangladesh, Md Nazrul Islam Khan, to establish mobile banking at the 4,501 Union Information Service Centres of Bangladesh in 2012.[12] One Bank saw its shares decline in February 2016.[13] One Bank saw its chairman, Sayeed H Chowdhury, reelected for another term in June 2018.[14]

Sayeed H Chowdhury was reelected chairman of One Bank in August 2019.[15] One Bank limited announced in September to launch 4 billion BDT in bonds.[16] In June, Zahur Ullah, was appointed vice-chairman of One Bank Limited.[17] On 23 December 2021, Md Monzur Mofiz was appointed managing director of One Bank Limited.[18]

In July 2020, Bangladesh Bank has removed HRC Group Chairman Sayeed Hossain Chowdhury from the post of chairman of One Bank over loan delinquency on a loan from Standard Bank.[19] Sayeed Hossain Chowdhury is brother of Saber Hossain Chowdhury, Awami League politician and member of Parliament.[19] In June, the Bank had 19.54 billion BDT in bad loans accounting for 9.63 per cent of all loans of the bank.[20] In November, Bangladesh Bank appointed Md Shazzad Hossoin, an official of Bangladesh Bank, to one bank as an observer.[20]

One Bank reduced their CEO pay following decline in profit in 2021.[21] In September 2022, One Bank received International Organisation for Standardisation for information security management.[22] In 2023, the bank changed its name to ONE Bank PLC.

Board of directors

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Name Position Reference
A.S.M. Shahidullah Khan Chairman [1]
Zahur Ullah Vice-chairman [1]
Kazi Rukunuddin Ahmed Director [1]
Shawket Jaman Director [1]
Anannya Das Gupta Director [1]
Aurangzeb Chowdhury Independent Director [1]
Md. Monzur Mofiz Managing Director [1]

References

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  1. ^ a b c d e f g h i j k l "Board of Directors". ONE Bank Ltd. Retrieved 8 February 2023.
  2. ^ নিউজ, ব্যাংকিং (15 February 2024). "কাস্টমার সার্ভিস এক্সিকিউটিভ নিয়োগ দেবে ওয়ান ব্যাংক". ব্যাংকিং নিউজ. Retrieved 26 June 2024.
  3. ^ "One Bank Chairman Sayeed Hossain Chowdhury removed over loan delinquency". The Daily Star. 6 July 2020. Retrieved 8 February 2023.
  4. ^ "OBL Profile". ONE Bank Ltd. Retrieved 8 February 2023.
  5. ^ Ahmed, Inam; Karim, Shahriar (3 January 2003). "3 bank MDs axed for hundi links". The Daily Star. Retrieved 8 February 2023.
  6. ^ "ONE Bank to go live with CDS". The Daily Star. Retrieved 15 February 2016.
  7. ^ "One Bank to buy Tk 4 cr equity share of Vanik". The Daily Star. Retrieved 8 February 2023.
  8. ^ a b c "Vanik Bangladesh now LankaBangla Finance". The Daily Star. Retrieved 8 February 2023.
  9. ^ "BB asks banks not to appoint their ex-top executives as consultants". The Daily Star. 19 September 2007. Retrieved 8 February 2023.
  10. ^ Chowdhury, Sarwar A. (9 April 2008). "One Bank to up authorised capital". The Daily Star. Retrieved 8 February 2023.
  11. ^ "One Bank to launch Tk100cr mutual fund". The Daily Star. 24 June 2009. Retrieved 8 February 2023.
  12. ^ "Mobile banking at union info centres in 3 months". The Daily Star. BSS. 25 April 2012. Retrieved 8 February 2023.
  13. ^ "Listed banks see worst performance". The Financial Express. Dhaka. Archived from the original on 21 April 2016. Retrieved 15 February 2016.
  14. ^ "One Bank re-elects top brass". The Daily Star. 5 June 2018. Retrieved 8 February 2023.
  15. ^ "One Bank re-elects chairman". The Daily Star. 7 August 2019. Retrieved 8 February 2023.
  16. ^ "Jamuna Bank, One Bank to issue bonds". The Daily Star. 30 September 2019. Retrieved 8 February 2023.
  17. ^ "ONE Bank gets new vice chairman". The Daily Star. 29 June 2021. Retrieved 8 February 2023.
  18. ^ "ONE bank gets new managing director". The Daily Star. 23 December 2021. Retrieved 8 February 2023.
  19. ^ a b "Central bank removes One Bank chairman". The Business Standard. 6 July 2020. Retrieved 6 November 2021.
  20. ^ a b "BB appoints observer to One Bank". The Daily Star. 24 November 2020. Retrieved 8 February 2023.
  21. ^ Habib, Ahsan (27 December 2021). "Six banks cut salary costs to safeguard profits". The Daily Star. Retrieved 8 February 2023.
  22. ^ "One Bank gets ISO certificate on info security management". The Daily Star. 4 September 2022. Retrieved 8 February 2023.
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