BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited) came under registration under the Companies Act 1913 on August 2, 1988, started its operations from January 21, 1989.
Moreover, the bank is operated and governed by the Banking Companies Act 1991. The bank was established with the vision of financing small scale Industries (SSIs).
At the very beginning, the bank set its journey as a joint venture enterprise of the BCC Foundation with 70 percent shares and the Government of Bangladesh (GOB) with the remaining 30 percent shares.
After the closure of the BCCI, the Bangladesh government body owned 100 percent ownership of the Bank on June 4 1992. Thus the bank has turned to be state-owned. However, the bank is not nationalized yet. The operations of this bank are like other private banks.
BASIC Bank Limited has been unique in its objectives. It is a mixture of development and commercial banks. The Memorandum and Articles of Association of the Bank stipulate that 50 percent of loanable funds are ready to be invested in small and medium industries sector across the country.
The authorized capital of the bank reaches BDT 55,000.00 million, while the paid-up capital is BDT 10,846.98 million as of December 31, 2018.
BASIC Bank Limited – Main/Head Office, Customer Care, Online Info, HelpLine
|Bangladesh Small Industries and Commerce Bank Limited|
|Public Limited Company|
|Sena Kalyan Bhaban, 5th Floor, 195 Motijheel C/A, Dhaka 1000, Bangladesh.|
|+880 2 9568190, 9564830, 9590548|
|+880 2 9564829, 7115612, 7124911|