MBL Annual Report 2012

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    All Shareholders

    Bangladesh Securities and Exchange Commission

    Registrar of Joint Stock Companies & Firms

    Dhaka Stock Exchange Limited

    Chittagong Stock Exchange Limited

    Subject: Annual Report for the year ended on December 31, 2012

    Dear Sir (s),

    We are delighted to enclose a copy of the Annual Report 2012 together with the Audited Financial Statements including

    Balance Sheet as at December 31, 2012 and Income Statement, Cash Flow Statement for the year ended on

    December 31, 2012 along with notes thereon of Mercantile Bank Limited for kind information and record.

    Yours sincerely,

    S. Q. Bazlur Rashid

    Senior Executive Vice President and

    Company Secretary

    Letter of Transmittal

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    OUR MENTOR

    Md. Abdul Jalil, M.P(January 21, 1941-March 6, 2013)

    Founder Chairman

    had a lot to say; lot to workwe will miss him

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    5 Notice of the 14th Annual General Meeting

    6 Vision, Mission and Strategic Objectives

    7 Core Values & New Technology

    8 Corporate Philosophy

    8 Corporate Priorities 9 Way Forward

    9 Business Ethics

    10 Code of Conduct

    11 Corporate Profile

    11 Credit Rating

    12 MBL Milestones

    13 Sponsors of the Bank

    16 Board of Directors

    17 Directors Profiles

    24 Corporate Structure

    25 Management Team

    29 Head Office & Branch Network

    37 Our Coverage

    38 Performance Indicators

    40 Graphical Presentation

    43 Market Performance

    44 Financial Calendar

    45 Economic Impact Report

    48 Segment Reporting

    49 Message from the Chairman

    53 Managing Director & CEOs Review

    58 Sustainability Report

    58 Employee Benefit 59 Directors Report

    85 Disclosure on Basel II

    99 CROs Report on Risk Management

    103 Certificate Regarding Compliance of BSEC Notification

    104 Directors Responsibility for Internal Control & Financial Reporting

    105 Report on Corporate Governance

    113 Compliance Report on BSEC Notification

    121 Status of Compliance of Bangladesh Banks Guidelines

    123 Report of Audit Committee

    124 Media Highlights

    125 Report on Corporate Social Responsibility

    133 Report on Human Capital 136 MBL Album

    141 CFOs Statement

    143 Auditors Report

    146 Signing of Financial Statements 2012

    147 Financial Statements-MBL

    221 Financial Statements-OBU

    227 Financial Statements- MBSL

    237 Financial Statements-Mercantile Exchange House (UK) Limited

    245 Products

    Table

    ofContents

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    Notice of the 14th Annual General Meeting

    Notice is hereby given to all members of Mercantile Bank Limited (the "Company") that the 14th Annual General

    Meeting of the members i.e. shareholders of the Company will be held on April 27, 2013, Saturday at 11.00 A.M. in the

    Winter Garden at Ruposhi Bangla Hotel, Dhaka to transact the following business and adopt necessary resolutions:

    Agenda:

    01. To receive, consider and adopt the Profit and Loss Account of the Company for the year ended on December 31,

    2012 and the Balance Sheet as at that date together with Reports of the Auditors and Directors thereon;

    02. To declare Dividend out of the profits for the year ended on December 31, 2012;

    03. To elect/re-elect Directors;

    04. To appoint Auditors of the Company for the term until conclusion of the next Annual General Meeting and to fixtheir remunerations;

    05. To transact any other business with the permission of the Chair.

    By order of the Board

    S. Q. Bazlur Rashid

    Dated: 07 April, 2013 Senior Executive Vice President and

    Dhaka, Bangladesh Company Secretary

    Notes:

    (a) The Record Date was scheduled on the March 28, 2013 (Thursday).

    (b) The Shareholders' name appearing in the Register of Members of the Company or in the Depository on the Record

    Date will be eligible to attend the AGM and receive the dividend.

    (c) Any member of the Company eligible to attend and vote at the General Meeting may appoint a proxy to attend and

    vote on his/ her behalf.

    (d) The Board of Directors have recommended 7% (Seven Percent) cash dividend and 8% (Eight Percent) stock

    dividend for the year ended on December 31, 2012 to be considered in the AGM.

    (e) The proxy form duly filled in and signed by the Member and stamped, must be submitted at the Registered Office

    of the Company at least 72 hours before the meeting.

    (f) Members are requested to notify the changes of address, if any, well in time. For BO Account Holders, the same

    to be rectified through their respective Depository Participants.

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    Vision, Mission and Strategic Objectives

    Vision

    would make finest corporate citizen

    Mission

    will become most caring, focused for equitable growth based on

    diversified deployment of resources and nevertheless would

    remain healthy and gainfully profitable bank

    Strategic objectives to increase shareholders value

    to achieve economic value addition

    to be market leader in product innovation

    to be one of the top three financial institutions in Bangladesh in

    terms of efficiency

    to be one of the top five financial institutions in Bangladesh in

    terms of market share in all significant market segments we

    serve

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    Core Values

    For the customersproviding with caring services by being innovative in the development of

    new banking products and services

    For the shareholders

    increase shareholders value

    For the employees

    respecting worth and dignity of individual employees devoting their

    energies for the progress of the bank

    For the community

    strengthening the corporate values and taking environment and social

    risks and reward into account

    New Technologyadopting the state-of-the art technology in banking operations

    customer

    service

    shareholders

    value

    worth and

    dignity ofemployees

    communityreward

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    Corporate Philosophy

    Our customers, employees and shareholders are equally important to us. We want to

    achieve strong corporate growth through FINANCIAL INCLUSION. We provide solutions

    at a minimum cost based on a high level of satisfaction of all segments of our customers,

    thus also contributing to the prosperity of our employees and shareholders.

    With a firm commitment to provide solutions, we are constantly developing innovative and

    technologically advanced products and services that satisfy our customer needs. We offer

    cutting edge compensation package and good work environment to our employees. We

    never forget our shareholders to make them pleased with financial well-being and increase

    their shares value. This has given us a path to the growth and progress.

    Corporate Priorities

    Ensure customers satisfaction by meeting their demands with excellent customer services

    Enlarge customers freedom by designing need based banking products and services

    Manage credit risk by diversified loan portfolio with emphasis on SME and Agriculture financing

    Mitigate different risks through efficient risk management techniques

    Strengthen internal control and compliance system to establish a very systematic and effective compliant culture

    Combination of skilled human resources and state-of-art technology in providing banking services

    Focus on green banking by ensuring eco friendly financing

    Corporate clients credit rating to remain compliant in terms of regulatory capital requirement

    To be transparent, accountable and trustworthy in all aspects of our banking activities

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    MBL believes that business ethics practices provides a foundation for the stability and sustainable growth of the bank,

    and supports the bank's efforts in achieving its stipulated goals. The bank therefore encourages all parties to conduct

    business and perform their duties in accordance with business ethics practices.

    The bank conducts its business in accordance with the law and regulations set by the central bank and other

    regulatory authorities. The bank does not finance in any project, detrimental to the community or country and thus

    prohibited by the credit policy of the bank.

    The bank complies with various standards which are generally acceptable for conducting the banking business

    and always refrain from doing aggressive business while extending credit facilities.

    In conducting business, the bank adheres to Bangladesh Banks instructions while setting interest rates of

    deposits and loans. It also keeps our interest spread (difference between interest rate charged on loans and

    interest rate paid on deposits) at or below 5% as advised by Bangladesh Bank.

    The bank offers quality services to its customers with the principles of warm friendship and mutual support. The

    bank applies only those charges/ fees that are disclosed by the schedule of charges of the bank.

    The bank keeps and safeguards the information of its customers in confidential and not discloses such

    confidential information to others unless with the consent of the customers or as required by the law.

    Business Ethics

    Way Forward

    We look forward to consolidate our position focusing on the followings:

    More emphasis on SME financing

    Achievement of agriculture credit target

    All out efforts to improve deposits mix by procuring low cost and no cost deposits

    Innovation of need based deposits and loans products and services

    Incorporate technology based advanced products and solutions

    To hire and retain qualified human resources according to need of the Bank

    To continue and increase CSR activities

    To remain compliant in the sprit of law and industry practice

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    Salient principles of MBL employees code of conduct:

    comply with the various rules, regulations and policies framed by the Bank and other Regulating Authorities

    show courtesy and attention to the customers, fellow colleagues and serve the Bank honestly, sincerely,

    diligently and with utmost care

    maintain strict secrecy of the affairs of the Bank and the customers

    not accept any outside employment, honorary or stipendiary, or undertake part-time work in any office of profit

    without prior written permission of the competent authority

    not engage directly or indirectly in any commercial business, industry or other business pursuits or as agent of

    others

    not absent from duty, nor leave the station without first obtaining the permission of the competent authority inwriting

    not make any personal representation to any director of the Board or any outside authority, to intervene on

    his/her behalf in any matter

    not accept or permit any member of his/her family to accept any gift or subscriptions from a constituent of the

    Bank, any person likely to have dealings with the Bank, a subordinate employee or a candidate for employment

    in the Bank

    not participate in gambling and betting or any such activities

    not make or permit any member of his/her family to make, any investment likely to embarrass or influence

    him/her in discharging official duties

    not invest money in the business of the Banks clients

    not do any activity which may undermine the prestige or image of the Bank or making/ joining any organization

    which is not permitted

    not take part directly in any political activity and in any election to parliament or any local authority in

    Bangladesh or elsewhere

    Code of Conduct

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    Corporate ProfileBackground

    Mercantile Bank Limited (MBL) incorporated as a publiclimited company on May 20, 1999. Subsequently, it

    commenced business on June 02, 1999 with a vision for

    being finest corporate citizen. MBL enlisted in Dhaka

    Stock Exchange (DSE) and Chittagong Stock Exchange

    (CSE) on February 16, 2004 and February 26, 2004

    respectively. MBL is the output of some visionary

    entrepreneurs dream of contributing directly to the

    economy by catering various banking needs to all

    segments of people living home and abroad.

    Principal Activities

    MBL has been able to establish itself as a leading thirdgeneration private commercial bank by dint of its prudent

    policy guidelines coupled with proper execution, wider

    range of banking products and excellent customer

    services. The core activities of the Bank are to provide all

    kinds of commercial banking services including deposits

    mobilization, providing loans, discounting bills, foreign

    exchange business, off-shore banking, treasury

    function, card business and mobile banking. MBL cater

    card services to its customers by VISA dual prepaid

    card, VISA Dual Hajj Card, Credit Card and Debit card,

    and International/Dual cards with various up-to-date

    facilities. MBL is continuously expanding its ATM

    network and inking contact with other banks with a view

    to making its card service more attractive and

    convenient to all. Except these, MBL is also providing

    other services through its subsidiary companies.

    Subsidiaries

    MBL has 2 (Two) subsidiaries namely Mercantile Bank

    Securities Limited (MBSL) and Mercantile Exchange

    House (UK) Limited. MBSL formed on 27 June 2010 to

    deal with stock dealing and broking. MBSL started its

    commercial operation on September 14, 2011 through

    obtaining stock dealer and broker license from

    concerned authorities.

    Mercantile Exchange House (UK) Limited, another

    subsidiary company of MBL incorporated as private

    limited company on December 01, 2010. It commenced

    its business operation at Birmingham in UK on

    December 06, 2011. Currently, it is operating with two

    branches, one in Birmingham and another in London

    with a view to providing faster, easier and safer

    remittance services to the Bangladeshi expatriates

    working in UK.

    Network

    MBL has broad network coverage across the country. Ithas 86 (Eighty Six) branches including 5 (Five)

    SME/Krishi branches as on December 31, 2012. The

    Bank has 2 (Two) Off-shore Banking Units operating at

    Gulshan and Chittagong EPZ areas. MBL has 115 ATM

    booths as on December 2012 covering important

    business centers. Mercantile Bank Securities Limited

    (MBSL), a subsidiary company of MBL dealing with

    stock dealing and broking has 7 (seven) branches

    across the country. Mercantile Exchange House (UK)

    Limited, another fully owned subsidiary company of MBL

    is facilitating inflow of remittance with 2 (two) branches in

    Birmingham and London, UK.

    Capital Base

    MBL is maintaining strong capital adequacy ratio as per

    new risk based capital adequacy framework i.e. Basel II.

    Capital adequacy ratio of the Bank remained far above

    compared to minimum requirement as on December 31,

    2012. The Bank has taken numerous initiatives including

    issuance of bonus shares, right shares, retention of

    profit, corporate clients rating etc in a bid to attain strong

    capital adequacy ratio.

    Shareholding Composition

    Total 611,075,316 ordinary shares of the Bank were

    outstanding as on December 31, 2012. Share holding

    position as on same date is as under:

    Credit Rating

    MBL has strong and stable credit rating over the lastcouple of years. Credit Rating Information and Services

    Limited (CRISL) has reaffirmed the long term rating of

    MBL to AA- and short term rating to ST-2 based on its

    financial up to December 31, 2011 and other qualitative

    and quantitative information up to the date of rating.

    *Rating for 2012 is in process

    Total 611,075,316 100.00

    December Capital Adequacy Minimum2012 Ratio (CAR) Requirement

    Solo 10.83% 10.00%

    Consolidated 10.87% 10.00%

    Composition

    Basis of

    Information

    Outlook Stable

    Rating Rating

    CompanyLong Term Short Term

    Ownership

    Number of Shares % of Total Shares

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    MBL Milestones

    May 20, 1999 Incorporation of the Bank

    June 02, 1999 Commencement of Business

    October 29, 2000 Opening of 10th Branch

    July 03, 2002 Opening of 15th Branch

    June 30, 2003 Publication of Prospectus for IPO

    October 21-22, 2003 Subscription for Shares

    December 24, 2003 Opening of 20th Branch

    February 16, 2004 Listed in Dhaka Stock Exchange

    February 26, 2004 Listed in Chittagong Stock Exchange

    December 29, 2004 Opening of 25h Branch

    December 05, 2006 Opening of 30th Branch

    December 17, 2007 Opening of 40th Branch

    November 24, 2008 Opening of 42nd Branch

    June 06, 2009 Mercantile Bank Brokerage House Operation

    October 22, 2009 Opening of 45th Branch

    December 30, 2009 Opening of 50th Branch

    December 30, 2010 Opening of 65th Branch

    March 20, 2011 Commencement of Off-shore Banking Unit

    September 14, 2011 Separate Operation of Mercantile Bank Securities Limited (MBSL)

    December 06, 2011 Opening of Mercantile Exchange House (UK) Limited, Birmingham Branch

    December 29, 2011 Opening of 75th Branch

    September 20, 2012 Opening of Mercantile Exchange House (UK) Limited, London Branch

    December 27, 2012 Opening of 86th Branch

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    whose dreams, aspirations andefforts came into reality

    Md. Abdul Jalil, M.P(Deceased)

    Md. Anwarul Haque

    Dr. Toufique RahmanChowdhury

    Golam Faruk Ahmed(Deceased)

    Engr. Mohd. Monsuruzzaman Md. Mizanur RahmanChowdhury

    Alhaj S.M. Shakil Akhter

    Alhaj Tara Meah Khan(Deceased)

    Subrota Narayan Roy

    Sponsors of the Bank

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    M. S. Ahsan Jamshed R Khan(Deceased)

    Alhaj Akram Hussain(Humayun)

    Bilkis Begum Md. Tabibul Huq

    A. S. M. Feroz Alam M. Amanullah Md. Abdul Hannan Mohd. Selim

    Sponsors of the Bank

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    Nargis Anwar Md. Nasiruddin Choudhury

    Morshed Alam Morzina Khan Monzu Md. Shahabuddin AlamJalaluddin Ahmed Yeamin

    A. K. M. Shaheed Reza

    Feroza Begum S. M. Shafiqul Islam(Mamun)

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    Chairman

    Alhaj Akram Hussain (Humayun)

    Vice-Chairman

    A. S. M. Feroz Alam

    Directors

    Md. Anwarul Haque

    R. A. Howlader

    M. S. Ahsan

    Md. Tabibul Huq

    M. Amanullah

    Md. Abdul Hannan

    Mohd. Selim

    Morshed Alam

    Md. Shahabuddin Alam

    Alhaj Mosharref Hossain

    Saber Hossain Chowdhury, M.P

    Managing Director & CEO

    M. Ehsanul Haque

    Board of Directors

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    Alhaj Akram Hussain (Humayun)

    Chairman

    Alhaj Akram Hussain (Humayun) was born on July 1,

    1952 in a respectable Muslim family of Dagonbhuiyan,

    Feni. He is a commerce graduate and one of the known

    Freedom Fighters of Bangladesh Liberation War. He is

    the Founder President of Bangladesh Paper Importers

    Association and also Founder President of GreaterNoakhali Paper Merchant Somity. Apart from the

    aforementioned affiliations, he is also General Body

    Member of FBCCI, Bangladesh, member of Trustee

    Board of Feni University and Founder Member of All

    Community Club, Dhaka.

    Mr. Hussain is a well known philanthropist for his

    outstanding contribution for the betterment of the

    society. Among his various affiliations the notable ones

    are Founder and present Chairman of Managing

    Committee, Rajapur High School and College; Founder

    and present Chairman of Managing Committee ofShindurpur Khaja Ahmad Biddya Niketon. He is the

    Founder of Al-haj Shamsul Haque Miyah Adarsha

    Academy and Shakentapur Primary School. He is life

    member of Feni Heart Foundation and Feni Diabetic

    Somity. His business affiliations are Chairman of FARS

    Group of Company, Chairman & Managing Director of

    Fars Holdings & Associates Ltd.; Fars Hotels & Resorts

    Ltd.; Akram Traders; Pubali Paper Stores; Indigo

    Packing & Accessories.

    Directors Profiles

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    Mr. A. S. M. Feroz Alam was born on December 01, 1960 in a respectable Muslim

    family of Patuakhali. He is a renowned businessman of the country.

    He has traveled about 65 countries for business purpose and can speak in sevenlanguages. He is the Managing Director of Bengal Trading Limited (Japan). He is

    Sponsor Director of Premier Leasing & Finance Ltd. and Chairman of Premier

    Leasing Securities Ltd. He is the Director of National Television Ltd. (RTV).

    A. S. M. Feroz AlamVice Chairman

    Mr. Md. Anwarul Haque was born on January 03, 1951 in a respected Muslim

    family in Dhaka. He is a renowned businessman of the country. He obtained the

    B.Sc. Engg (Civil) Degree and is engaged in business since last 36 years in

    different sectors like Construction, Real Estate, Export & Import and Trading. His

    business affiliation is versatile and diversified. He is the Managing Director of

    Living Plus Ltd. He is the Director of Premier Leasing & Finance Ltd., Holiday

    Travels Ltd, Premier Leasing Securities Ltd. and Mercantile Bank Securities Ltd.

    He is also Director of Securities Broking & Management Ltd. He is a Shareholder

    & Ex Chairman of Global Insurance Ltd. His association with the abovementioned

    well-reputed organization makes him a forward looking andprogressive-businessman who has already reached an enviable height.

    Furthermore, he has deep affinity and also attachment with various socio-cultural

    activities.

    Md. Anwarul Haque

    Chairman, Executive Committee

    R. A. Howlader

    Chairman, Audit Committee

    Mr. R. A. Howlader was born in Barisal. After completion of B. Com. (Hons) from

    Dhaka University, he joined United Bank Limited in 1962 as Probationary Officer

    Grade-II. After liberation, United Bank Limited was nationalized in 1972 in thename of Janata Bank wherein Mr. Howlader held different important positions till

    1983, the last being Deputy General Manager, In-charge of International Division.

    Mr. Howlader was the Managing Director of National Bank Limited for about eight

    and half years. Mr. Howlader was also the Chairman of Global Insurance Limited.

    He was also the Chief Advisor of Global Insurance Limited for about six years. Mr.

    Howlader is now the Chairman of Delta Spinners Limited. He is the founder

    President of Al-haj Hazrat Ali Degree College which was established in 1987. His

    innovative ideas, financial acumen, dynamic leadership made him a popular and

    pleasant personality in the banking sector of the country.

    Directors Profiles

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    M. S. Ahsan

    Director

    M. AmanullahDirector

    Mr. M. S. Ahsan was born on June 01, 1960 in a respectable Muslim family of

    Begumgonj, Noakhali. Mr. Ahsan obtained the Master Degree from Dhaka

    University. He has established himself as an icon in the business sector of the

    country and the proud owner of the Ahsan Group. He is also the Chairman of AG

    Property Development, AG Agro Industries, Regent Holding Development Ltd.,Capital Holding and Development Corporation, AG Pet Ltd., Shawdesh Builders

    Ltd., Home Apparels Ltd., Raima Fashion Ltd., AG Ceramics Ltd., RNS

    Corporation and Friends Traders. He is the Director of National Credit Ratings

    Ltd. Currently he is the Chairman of Mercantile Bank Securities Limited. Mr.

    Ahsan is also actively associated with many other Educational and Social

    Institutions as donor/ founder.

    Mr. Md. Tabibul Huq was born on August 19, 1952. He obtained Bachelor of

    Science in Electrical Engineering from BUET in 1975 (Session 1972-73). He

    joined Bangladesh Army and passed out from BMA in February 1976. He wasawarded the Chief of Army Staffs cane for outstanding performance in BMA. Heserved for 4 years in Bangladesh Army and was released as Captain. During

    Army service, he obtained higher training in telecommunication equipment on1977 in Germany. He served in East Malaysia as transmission engineer in Hydro

    Electric power project in 1979-80. He obtained management training in Europe.

    Started own business in 1981 and established Creative Engineers Ltd. of which,

    he is the Managing Director & presently enjoying franchise of Schindler andEscalators from Switzerland, MAAN, B&W Diesels Ltd. of Germany and U.K. At

    present, he is employer of more than 400 people including management &non-management staff. He is also Managing Director of Creative Paper Mills

    Limited, producing 200TPD of white writing & printing and craft linear, which hasgone into production from January 2013.

    Md. Tabibul Huq

    Director

    Mr. M. Amanullah was born in a respectable Muslim family of businessmen in Dhaka. Hegraduated from a renowned University of Dhaka. He is one of the distinguished industrialistsand entrepreneurs in Bangladesh. He is the Chairman of Aman Group of Companies and alsoholds the Chairman position of all the companies under' the umbrella of Aman Group ofCompanies Limited. His business acumen has lead to the successful launch of various,diversified businesses under the umbrella of Aman Group of Companies.

    In the textile sector Mr. Aman set up a manufacturing unit in the name of Aman Spinning MillsLtd., which manufactures 100% export oriented carded yarn from raw cotton. Mr. Amanintroduced Arena HRI Ltd., which is an India-Bangladesh joint venture in the field of cosmeticindustry and is one of the leading manufacturer of Hair Care products in Bangladesh. Mr.Aman also introduced Arena Industries Ltd., engaged in industrial contract-packaging,Mousumi Enterprises Ltd. and Arena Consumer Products Ltd., for distribution andmanufacture of consumer products. Mr. Aman also introduced Arena Securities Ltd. in the

    financial sector which is a member of Dhaka Stock Exchange and registered as a corporatehouse for operation in the capital market of the country. He is one of the Directors of "AmaderShomoy', one of top circulating daily print media in Bangladesh. He is one of the founders,Director and Ex Chairman & present Advisor of Global Insurance Ltd., a publicly listed generalinsurance company.

    Mr. Aman is also recognized for his contribution to the community and to the nation in the fieldof education. He is one of the members of the Board of Trustee of the Presidency University,Dhaka. For the contribution to the society, as a philanthropist Mr. Amanullah established"Aman Group Foundation" as his initiative towards social responsibilities. For this act, he washonored several times by the Govt. and other organizations. He was awarded the SarojiniNaidu Gold Medal Award in 2000, C.R. Das Gold Medal Award in 2002 and the Atish DipankarScholar Congress Award in 2004 for his extraordinary contribution in various sectors ofBangladesh.

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    Mr. Morshed Alam is one of the most renowned & widely known business and

    industrial entrepreneur of the country. He was declared CIP for the year 1996-97,

    2000-01 & 2009-10 by the Ministry of Commerce, Government of the Peoples

    Republic of Bangladesh, for his remarkable contribution in business arena. He

    has also been awarded National Export Trophy for Exports for the year 1997-98,

    2006-07 and also for 2009-10.

    With perception and technical expertise he has become a leading entrepreneur of

    the country. He is founder of the Bengal Group of Industries, which consists of

    Bengal Plastic Industries Ltd., Bengal Poly Paper Sack Ltd., Bengal Overseas

    Corporation Ltd., Bengal Chemical & Synthetic Products Ltd., Romania Food &Beverage Ltd., Bengal Adhesive & Chemicals Products Ltd., Bengal Concept &

    Holdings Ltd., Power Utility BD Ltd., Romania Agrovat Ltd., Bengal Windsor

    Thermoplastic Ltd., Bengal Corrugated Carton Ind Ltd., Poly Cord Ltd., Bengal

    Polymer Wears Ltd. and Bengal Multimedia Ltd. He is the Chairman of RTV and

    Director of Desh General Insurance Company Ltd., Director of United Hospital

    Ltd., Director of Peoples University of Bangladesh and also Chairman of

    Executive Committee of National Life Insurance Company Ltd. Mr. Alam is a

    philanthropist. He is the founder of Morshed Alam High School at Nateswar,

    Noakhali, life donor of Kazi Nagar Madrasha and Bazra High School at Noakhali

    and Motijheel Ideal High School, Dhaka.

    Morshed Alam

    Director

    Mr. Mohd. Selim is a renowned businessman of the country. He was born in arespectable Muslim family in Shariatpur District. He has specialized himself in

    trading business. After graduation he devoted himself fully to business and he is

    the proprietor of Sumon Cloth Store, a large cloth store in Ramna Bhaban,

    Dhaka and also proprietor of Central Plaza at Eastern Plaza. He is the Chairman

    of Synthia Securities Limited (Member of Dhaka Stock Exchange Limited). He is

    the Sponsor of Global Insurance Limited. He has also made notable contribution

    in socio-cultural activities. He is life member of Shariatpur Zilla-Kalyan Samity, life

    member of Greater Faridpur Kalyan Samity, trustee member, Shariatpur Shikhha

    Kalyan Trust, Vice Chairman of Bangladesh Shop Owners Association and

    Donor Member of Purba Madaripur College.

    Mohd. Selim

    Director

    Md. Abdul Hannan

    Director

    Mr. Md. Abdul Hannan was born on 27th July, 1962 in a respectable Muslim

    family at Faridgonj, Chandpur. He is one of the leading businessmen of the

    country, especially in export of readymade garments. He is Director of Dabstar

    Associates Limited, Reu Fashion Limited, ZHAS Garments Limited, M.H. Tradingand Murad Apparels Limited. He is also Director of Eastern University of

    Bangladesh and Pan Pacific Hospital. His contributions towards the society are

    quite remarkable.

    Directors Profiles

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    Md. Shahabuddin Alam

    Director

    Mr.Md. Shahabuddin Alam is one of the renowned entrepreneurs of the country.

    He comes from a respectable Muslim family of South Halishahar, Chittagong. He is

    the Chairman of S.A. Group of Industries which consists of S.A. Oil Refinery Ltd.,

    Shamannaz Super Oils Ltd., Kamal Vegetable Oils Ltd., Sharija Oil Refinery Ltd.,South Eastern Oil Refinery Ltd., Laila Vanaspati Products Ltd., Shamannaz

    Condensed Milk Ltd., Shamannaz Dairy & Food Products Ltd., S.A. Consumer

    Products Ltd., S.A. Salt Industries Ltd., S.A. Beverage Ltd., S.A. Pulp & Paper

    Products Ltd., Sharija Cement Ltd., South Eastern Paper Mills Ltd., S.A. Properties

    Ltd., S.A. Power Generation Ltd., South Eastern Tank Terminal Ltd., S.A. Telecom

    System Ltd., Laila Oil Refinery Ltd., Laila Food Products Ltd. and Sharija

    Navigation Ltd.

    His contributions towards the society are quite remarkable. He is the Vice

    Chairman of Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers

    Association, Member of Chittagong Club Ltd., Chittagong Boat Club, Chittagong

    Senior Club, Chittagong Samity, Dhaka, Lions Club of Chittagong City and Lions

    Blood Bank. He is also a widely traveled person and visited USA, UK, KSA,

    Thailand, Singapore, Malaysia, Hong Kong, India, Holland etc.

    Alhaj Mosharref Hossain was born on January 07, 1940 in a respectable Muslim

    family at Chhagalnaya, Feni. He had his schooling in the local educational

    institutions.

    Alhaj Mosharref Hossain is one of the leading businessmen of the country,

    especially in trading. He is the Proprietor of M. H. Traders, a renowned business

    house engaged in paper trading. Apart from being a businessman of repute he is

    also a prominent personality in Bangladesh. He is also a Director of Toka Ink (BD)Ltd. and Managing Director of Bulbul Printers. He is the Founder and Director of

    Hossainya Hefje Quaran Madrasa & Atimkhana, Chhagalnaya, Feni.

    Alhaj Moshar ref Hossain

    Director

    Mr. Saber Hossain Chowdhury is the Group Managing Director of Karnaphuli. He enjoys

    wide recognition and reputation as a dynamic individual having a flair for creativity with a

    high level of integrity and social responsibility. He has been elected for four successivetimes as Member of the Board of Directors of Mercantile Bank Limited, a third generation

    Bank that has an impressive record. Under his able stewardship and taking of strategy

    policy decisions in close consultations with the Group Founder Chairman, Karnaphuli is on

    the path to becoming one of the very top business houses in the country by transitioning

    from a first generation family based company to a second generation corporate institution.

    Expansion and consolidation of Karnaphulis existing businesses and venturing to new

    areas of opportunity such as launching of a global satellite Bangla Television Channel as

    well as embarking on Bangladeshs single largest apartment development project ever

    typifies his style and energy.

    Saber Hossain Chowdhury, M.P

    Director

    www.mblbd.com

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    M. Ehsanul Haque, is a senior banker with thirty three years experience in the

    banking and finance industry and financial advisory services. After completing

    Masters in Economics from Jahangirnagar University, he started his career as a

    Management Trainee in Grindlays Bank, subsequently ANZ Grindlays Bank (now

    Standard Chartered Bank). Mr. Haque worked in other local private and

    multinational banks and financial institutions in various capacities including last

    ten years as Managing Director and CEO. Prior to joining Mercantile Bank

    Limited, he was the Managing Director of Prime Bank, Infrastructure

    Development Company Ltd. (IDCOL), BRAC Afghanistan Bank, BRAC Bank and

    Trust Bank. He trained in Australia, worked in India, Vietnam and Afghanistan

    and has been exposed to global best practices in banking and finance. This was

    through his association with banks at home and abroad and in his dealing with

    multilateral agencies.

    His banking skills are in the areas of loan assessment of Corporate/ Commercial,

    SME, Retail Banking, audit /internal control, product development, banking

    operations etc. Other skills include new organization set-up, access to finance for

    various sectors in developing countries, financial consultancy and advisory

    services.

    M. Ehsanu l Haque

    Managing Director & CEO

    In the field of public service, Mr. Chowdhury has already excelled at a relatively young age.

    Elected as a Member of Parliament from Dhaka-6 (Motijheel-Shobujbagh) in 1996, He was

    the youngest member of the Awami League Cabinet 1996-2001 initially held the portfolio

    of Deputy Minister, Ministry of Shipping and put in process initiatives and action plans

    which began the transformation of Chittagong Port. He was thereafter re-assigned to Local

    Government, Rural Development & Co-operatives- a frontline and important development

    Ministry where he broke new ground and set higher standards.

    A firm believer in and defender of basic liberties, rights and individual freedom, he was,

    between October 2002 to January 2003, subject to terms of detention and imprisonment.

    Amnesty Intl adopted and recognized him as a Prisoner of Conscience and launched a

    series of Urgent Actions campaigning for his release. This was eventually secured

    through directives from the High Court which ruled detentions and imprisonments to have

    been without lawful authority. As a Member of Parliament, he successfully launched a

    number of novel community initiatives in his constituency linked to healthcare, medical

    insurance, environment, youth training, awareness building and self help programmers.

    Mr. Chowdhury has been re-elected as a Member of Parliament in December 2008 for a

    further term of five years and is an influential Member of Parliamentary Standing

    Committee on Environment. He has also initiated a number of Private Member Bills. An

    active parliamentarian, he is also Chairman of Bangladesh Parliaments Party All Group on

    Climate Change and Environment.

    Directors Profiles

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    we mourn

    sad demise of our beloved ones

    Golam Faruk AhmedApril 7, 1953 - January 26, 2013

    Md. Abdul Jalil, M.PJanuary 21, 1941-March 6, 2013

    Alhaj Tara Meah KhanAugust 30, 1931-March 16, 2010

    Jamshed R KhanJuly 10, 1943-August 29, 2008

    Dr. Matiur Rahman, M.PJanuary 11, 1946 - September 13, 2012

    Shamsur RahmanJanuary 25, 1933-January 02, 2012

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    Corporate Structure

    Audit Committee

    R. A. Howlader, Chairman

    Md. Tabibul Huq, Member

    Md. Abdul Hannan, Member

    Alhaj Mosharref Hossain, Member

    Saber Hossain Chowdhury, M.P, Member

    Managing Director & CEO

    M. Ehsanul Haque

    Chief Risk Officer

    Md. Abdul Jalil Chowdhury

    Chief Financial Officer

    Monindra Kumar Nath

    Company Secretary

    S. Q. Bazlur Rashid

    Auditors

    Khan Wahab Shafique Rahman & Co.

    Chartered Accountants

    K. M. Hasan & Co., Chartered Accountants

    Tax Advisor

    K. M. Hasan & Co., Chartered Accountants

    Board of Directors

    Alhaj Akram Hussain (Humayun), Chairman

    A. S. M. Feroz Alam, Vice Chairman

    Md. Anwarul Haque

    R. A. Howlader

    M. S. Ahsan

    Md. Tabibul Huq

    M. Amanullah

    Md. Abdul Hannan

    Mohd. SelimMorshed Alam

    Md. Shahabuddin Alam

    Alhaj Mosharref Hossain

    Saber Hossain Chowdhury, M.P

    Executive Committee

    Md. Anwarul Haque, Chairman

    M. S. Ahsan, Member

    M. Amanullah, Member

    Mohd. Selim, Member

    Morshed Alam, Member

    Md. Shahabuddin Alam, Member

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    Md. Abdul Jalil Chowdhury

    Additional Managing Director & CRO

    Monindra Kumar Nath

    Additional Managing Director & CFO

    M. A. Yousuf Khan

    Deputy Managing Director

    Choudhury Moshtaq Ahmed

    Deputy Managing Director

    Md. Quamrul Islam Chowdhury

    Deputy Managing Director

    M. Ehsanul HaqueManaging Director & CEO

    Management Team

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    Management Committee (MANCOM)

    From left to right

    Md. Sayeed Hossain EVP & Head of ICCD Member

    S. Q. Bazlur Rashid SEVP & Company Secretary Member

    M. A. Yousuf Khan Deputy Managing Director MemberMonindra Kumar Nath Additional Managing Director & CFO Member

    M. Ehsanul Haque Managing Director & CEO Chairman

    Md. Abdul Jalil Chowdhury Additional Managing Director & CRO Member

    Choudhury Moshtaq Ahmed Deputy Managing Director Member

    A. K. M. Atiqur Rahman EVP & Head of Risk Management Division Member

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    Head Office & Branch NetworkHead Office

    61 Dilkusha Commercial AreaDhaka-1000, Bangladesh

    PABX : 9559333, 9553892

    Fax : 88-02-9561213

    Swift : MBLBBDDH

    E-mail : [email protected]

    Website: www.mblbd.com

    Zonal Office

    Chittagong ZoneMishkat Arcade

    21/1 Agrabad C/A, Chittagong

    Phone : 031-2529445, 716421, 723181, 721772

    Fax : 88-031-2529445

    Abdullah Md. Zaki Hasan, EVP

    Training Institute

    Swadesh Tower41/6 Purana Paltan, Dhaka-1000

    Phone: 7174016, 7172282,

    Fax : 88-02-9571096

    Rabiul Hussain, Principal

    Divisions at Head Office

    Board Audit Division

    Md. Abdus Salam, SEVP

    Board, Share & HR DivisionS. Q. Bazlur Rashid, SEVP

    Credit Risk Management Division

    Mohammad Ismail, SEVP

    Credit Administration, Monitoring,

    Recovery & Compliance Division

    Khandakar Fahim Uddin Ahmed, EVP

    SME Financing Division

    Md. Sadruzzaman, EVP

    Internal Control & Compliance

    Division

    Md. Sayeed Hossain, EVP

    Card, Consumer & Retail Banking

    Division

    Javed Islam, EVP

    IT Division

    Md. Rafiqul Hoque Bhuiyan, EVP

    General Services DivisionDr. Md. Nurul Islam, EVP

    International Division

    Shamim Ahmed, EVP

    Risk Management Division

    A.K.M. Atiqur Rahman, EVP

    Research & Planning Division

    Md. Shafiet Wahed, SVP

    Financial Administration Division

    Md. Golam Kibria, FCA, SVP

    General Banking DivisionShah Syed Abdul Bari, SVP

    Corporate Banking Division

    Mohammad Iqbal Rezwan, SVP

    NRB Division

    Md. Nurul Haque Gazi, VP

    Public Relations & Branches

    Division

    K. M. Abdur Razzaque, VP

    Mobile Banking Division

    Farhad Malik, VP

    Marketing Division

    Purbani Roy, VP

    Treasury Division

    Jahangir Javed, FVP

    Agriculture Credit Department

    Liaquat Fazlur Rashid, FVP

    DHAKA DIVISION

    Main Branch

    61 Dilkusha C/A, Dhaka-1000

    Phone : 02-9571618, 9559333

    Mobile : 01711-722925

    Fax : 88-02-9554410, 9551497

    HOB:Md. Quamrul Islam Chowdhury, DMD

    Dhanmondi Branch

    Sima Blossom, House- 390 (Old)

    03 (New), Road- 27 (Old), 16 (New)

    Dhanmondi R/A, Dhaka -1209

    Phone : 02-8124234, 9130500, 9142691

    Mobile : 01755-500192

    Fax : 88-02-8126768HOB:Syed Ahmadul Karim, SEVP

    Kawran Bazar Branch

    Dhaka Trade Centre

    99 Kazi Nazrul Islam Avenue

    Kawran Bazar C/A, Dhaka- 1215

    Phone : 02-8189613, 8153414, 8141910

    Mobile : 01711-535946

    Fax : 88-02-8126882HOB:Md. Mahmood Alam Chowdhury, EVP

    Joypara Branch

    Samabay Super Market

    Joypara Bazar, Dohar, Dhaka

    Phone : 02-7768193, 7768163

    Mobile : 01711-535949

    Fax : 88-02-7768193

    HOB:Md Shahidul Alam, AVP

    Banani Branch

    Awal Centre, 34 Kemal Ataturk Avenue

    Banani C/A, Dhaka-1213

    Phone : 02-9821046, 9821639-40

    Mobile : 01711-535942

    Fax : 88-02-9821046

    HOB:Ahmedul Haque, EVP

    Board Bazar Branch

    Board Bazar, Gazipur

    Phone : 02-9291604

    02-9293639

    Mobile : 01713-067012

    Fax : 88-02-9291660

    HOB:Md. Delwar Hossain, FVP

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    Nayabazar Branch

    25/1 Zinda Bahar (1st Lane)

    Nayabazar, Dhaka-1100

    Phone : 02-7393827, 7393655

    Mobile : 01711-535956

    01713-193961

    Fax : 88-02-7393655

    HOB:Abu Syed Md. Mohiuddin, VP

    Mohakhali Branch

    Green Delta Aims Tower

    51-52 Mohakhali C/ A, Dhaka-1212

    Phone : 02-9863215, 9888346

    9891520, 9860094

    Mobile : 01730-318188

    Fax : 88-02-9895797

    HOB:Md. Zakir Hossain, EVP

    Mirpur Branch

    Razia Plaza, 184 Senpara Parbata

    Begum Rokeya Sarani

    Mirpur - 10, Dhaka- 1216

    Phone : 02-9014582, 9008852, 9015661

    Mobile : 01711-535955

    Fax : 88-02-8034577

    HOB:F . M. Nawaz Ali, SVP

    Ashulia Branch

    Bhuiyan Commercial Complex

    Jamgara Chowrasta, Ashulia

    Savar, Dhaka

    Phone : 02-7788757, 7790708

    Mobile : 01711-535948

    Fax : 88-02-7790708

    HOB:Md. Ata Rabbani Chowdhury, VP

    Uttara Branch

    House- 10/A, Road- 7/D, Sector- 9

    Uttara Model Town, Uttara, Dhaka-1230

    Phone : 02-8931729, 8955879

    8958244, 8931725

    Mobile : 01711-535950

    Fax : 88-02-8955881

    HOB:Md. Abdul Halim, VP

    Elephant Road Branch

    Osman Plaza

    75 Elephant Road, Dhaka-1205

    Phone : 02-9614541, 9677364

    9614542, 8618732

    Mobile : 01713-044832

    Fax : 88-02-9669458

    HOB:Md. Kamruzzaman, VP

    Motijheel Branch

    Malek Mansion

    128 Motijheel C/A, Dhaka-1000

    Phone : 02-9561178

    7161923-4

    Mobile : 01730-320284

    Fax : 88-02-7161925

    HOB:A B M Eradul Islam, SVP

    Motijheel Branch

    Malek Mansion

    128 Motijheel C/A, Dhaka-1000

    Phone : 02-9561178

    7161923-4

    Mobile : 01730-320284

    Fax : 88-02-7161925

    HOB:A B M Eradul Islam, SVP

    Motijheel Branch

    Malek Mansion

    128 Motijheel C/A, Dhaka-1000

    Phone : 02-9561178

    7161923-4

    Mobile : 01730-320284

    Fax : 88-02-7161925

    HOB:A B M Eradul Islam, SVP

    Satmasjid Road Branch

    House- 735 (Old), 82/A (New)

    Road- 8/A (New), Satmasjid Road

    Dhanmondi R/A, Dhaka-1209

    Phone : 02-8114672, 9141148

    Mobile : 01713-084074

    Fax : 88-02-9139183

    HOB:Kawser Uddin Ahmed, SVP

    Satmasjid Road Branch

    House- 735 (Old), 82/A (New)

    Road- 8/A (New), Satmasjid Road

    Dhanmondi R/A, Dhaka-1209

    Phone : 02-8114672, 9141148

    Mobile : 01713-084074

    Fax : 88-02-9139183

    HOB:Kawser Uddin Ahmed, SVP

    Satmasjid Road Branch

    House- 735 (Old), 82/A (New)

    Road- 8/A (New), Satmasjid Road

    Dhanmondi R/A, Dhaka-1209

    Phone : 02-8114672, 9141148

    Mobile : 01713-084074

    Fax : 88-02-9139183

    HOB:Kawser Uddin Ahmed, SVP

    Konabari Branch

    Matiur Rahman Plaza

    Konabari Bazar, Konabari

    Joydevpur, Gazipur

    Phone : 02-9298484-5

    Mobile : 01713-044846

    Fax : 88-02-9298486

    HOB:Md. Abul Bashar Khan, FVP

    Konabari Branch

    Matiur Rahman Plaza

    Konabari Bazar, Konabari

    Joydevpur, Gazipur

    Phone : 02-9298484-5

    Mobile : 01713-044846

    Fax : 88-02-9298486

    HOB:Md. Abul Bashar Khan, FVP

    Konabari Branch

    Matiur Rahman Plaza

    Konabari Bazar, Konabari

    Joydevpur, Gazipur

    Phone : 02-9298484-5

    Mobile : 01713-044846

    Fax : 88-02-9298486

    HOB:Md. Abul Bashar Khan, FVP

    Motijheel Branch

    Malek Mansion

    128 Motijheel C/A, Dhaka-1000

    Phone : 02-9561178

    7161923-4

    Mobile : 01730-320284

    Fax : 88-02-7161925

    HOB:A B M Eradul Islam, SVP

    Satmasjid Road Branch

    House- 735 (Old), 82/A (New)

    Road- 8/A (New), Satmasjid Road

    Dhanmondi R/A, Dhaka-1209

    Phone : 02-8114672, 9141148

    Mobile : 01713-084074

    Fax : 88-02-9139183

    HOB:Kawser Uddin Ahmed, SVP

    Konabari Branch

    Matiur Rahman Plaza

    Konabari Bazar, Konabari

    Joydevpur, Gazipur

    Phone : 02-9298484-5

    Mobile : 01713-044846

    Fax : 88-02-9298486

    HOB:Md. Abul Bashar Khan, FVP

    Gulshan Branch

    Hosna Center

    106 Gulshan Avenue, Dhaka-1212

    Phone : 02-9897879, 8835276, 8835277

    Mobile : 01730-047977

    Fax : 88-02-8835614

    HOB:Md. Nazrul Hossain, SEVP

    Hemayetpur Branch

    Hatem Ali Complex, Singair Road

    Hemayetpur, Savar, Dhaka-1340

    Phone : 02-7741532, 7741533

    Mobile : 01713-083617, 01713-452995

    Fax : 88-02-7741531

    HOB:Md. Fakhruzzaman Chowdhury, FVP

    Bijoynagar Branch

    Akram Centre, 212, S.S. Nazrul Islam

    Sarani, Paltan, Dhaka - 1000

    Phone : 02-7117830, 7117834

    Mobile : 01713-068127

    Fax : 88-02-7117114

    HOB:Shah Md. Sohel Khurshid, SVP

    Moghbazar Branch

    227 Outer Circular Road

    Moghbazar, Ramna, Dhaka

    Phone : 02-8333017, 8316279, 8333016

    Mobile : 01711-643281, 01713-068194

    Fax : 88-02-8333018

    HOB:Ahsanul Haq Chowdhury, SVP

    Bhojeshwar Bazar Branch

    Kazi Plaza, Bhojeshwar Bazar

    Naria, Shariatpur

    Mobile : 01713-384497

    01730-048067

    HOB:M.M. Rafikul Islam , FAVP

    Green Road Branch

    151/6 Green Road, Dhaka

    Phone : 02-8157366, 9136809, 9136822

    Mobile : 01730-013453

    Fax : 88-02-9114108

    HOB:Md. Abdul Awal, VP

    Engineers' Institution Branch

    IEB Bhaban, 8/A Ramna

    Dhaka-1000

    Phone : 02- 7110651, 7110684

    Mobile : 01713-199801

    Fax : 88-02-7110610

    HOB:Mohammad Faruque Ahmmed, AVP

    Mazar Road Branch

    Hazrat Shah Ali Girls High School

    & College Market Complex

    Mazar Road, Mirpur-1, Dhaka-1216

    Phone : 02-8060752, 8035539, 9014395

    Mobile : 01730-328681

    Fax : 88-02-8035529

    HOB:Md. Moshaddeque Hossain, VP

    Pragati Sarani Branch

    Green Orlando, 42/4 Pragati Sarani

    Baridhara, Dhaka-1229

    Phone : 02-8411503, 8411501

    Mobile : 01730-318186

    Fax : 88-02-8411504

    HOB:Farook Iqbal, VP

    Head Office & Branch Network

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    Narayanganj Branch

    H R Plaza, 64 (Old), 90 (New)

    Bangabandhu Road, Narayanganj

    Phone : 02-7648241, 7648243

    Mobile : 01713-202431

    Fax : 88-02-7648244

    HOB:A.K.M. Hassanuzzaman, FVP

    Demra SME/Krishi Branch

    Matuail New Market Bhaban

    Konapara, Demra, Dhaka-1362

    Phone : 02-7542904, 7542911

    Mobile : 01730-340795, 01714-075533Fax : 88-02-7542904

    HOB:Md. Rezaul Karim, AVP

    Mymensingh Branch

    Ali Plaza, 64 Choto Bazar

    Mymensingh

    Phone : 091-63313, 63326

    Mobile : 01730-340791

    Fax : 88-091-63316

    HOB:Md. Zillur Rahman, AVP

    Aganagar Branch

    Choto Masjid Road (Ispahani)

    South Keraniganj, Dhaka

    Phone : 02-7763658, 7763657

    Mobile : 01730-340794

    Fax : 88-02-7763659

    HOB:Al Mansur, AVP

    Dholaikhal Branch

    72 Lal Mohon Saha Street

    Dholaikhal, Dhaka-1100

    Phone : 02-9560286, 9564529

    Mobile : 01730-709985

    Fax : 88-02-7117927

    HOB:Md. Faizur Rahman Mazumder, VP

    Ring Road Branch

    Choice A J Golden Tower

    2/1 Ring Road, Shyamoli, Dhaka-1207

    Phone : 02-9103329

    Mobile : 01730-373896

    Fax : 88-02-9103330

    HOB:Md. Kabir Hossain, AVP

    Damudya BranchMain Road, Damudya Bazar

    Damudya, Shariatpur

    Phone : 06023-56204

    Mobile : 01755-533146

    Fax : 88-06023-56201

    HOB: Md. Arifur Rahman, PO

    Imamganj BranchMohammad Hossain Complex

    Moulvibazar, Dhaka

    Phone : 02-7312970, 7312821, 7312861

    Mobile : 01713-049090

    Fax : 88-02-7312943

    HOB: Syed Ezazur Rahman, FVP

    Rampura BranchCircle Alams Height, 375 West

    Rampura, DIT Road, Dhaka- 1219

    Phone : 02-8333697, 8333703

    Mobile : 01755-533149

    Fax : 88-02-8322797

    HOB: Md. Moniar Rahman, VP

    Kishoreganj Branch

    M M Shopping Complex

    573 Gouranga Bazar, Kishoreganj

    Phone : 0941-51016, 51018

    Mobile : 01755-637381Fax : 88-0941-51017

    HOB: Md. Abul Kashem Khandaker, AVP

    Bhulta Branch

    Haji A Aziz Super Market

    Bhulta, Rupganj, Narayanganj

    Phone : 01755-637389

    Mobile : 01755-637388 01755-637389

    HOB: Mohammad Jubair Islam, FAVP

    Sakhipur Branch

    Sipa Super Market

    Sakhipur Bazar, Sakhipur, Tangail

    Phone : 09232-56274, 56275

    Mobile : 01713-203958Fax : 88-09232-56273

    HOB: Zia Uddin Ahmed, AVP

    CHITTAGONG DIVISION

    Agrabad Branch

    Mishkat Arcade

    21/1 Agrabad C/A, Chittagong

    Phone : 031-716459, 716421

    723181, 721772

    Mobile : 01714-067805

    Fax : 88-031-716459

    HOB: Abdullah Md. Zaki Hasan, EVP

    Khatunganj Branch

    599 Ramjoy Mohajan Lane

    Khatunganj, Chittagong

    Phone : 031-626101, 626102, 622751

    Mobile : 01711-723051

    01819-201040

    Fax : 88-031-635514

    HOB: Jashim Uddin, FVP

    Jubliee Road Branch

    Kamal Chamber

    61 Jubilee Road

    Kotwali, Chittagong

    Phone : 031-621018, 624819

    Mobile : 01711-724874

    Fax : 88-031-626072

    HOB: Zahedul Islam, VP

    International Airport Road Branch

    A R A Plaza, 77-78 Airport Road

    Amtali, Mahakhali C/A, Dhaka-1212

    Phone : 02-9857368, 9857480

    Mobile : 01755-532810

    Fax : 88-02-9857435

    HOB: Md. Abu Sakin, FVP

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    Madam Bibir Hat Branch

    Bhatiary, Sitakunda, Chittagong

    Phone : 031-2780465

    Mobile : 01713-196595

    01730-076127Fax : 88-031- 2780686

    HOB: Anwar Hossain, VP

    Jhilongja Branch

    Hotel Sea Palace Ltd.

    Kalatali Road, Cox's Bazar

    Phone : 0341-62234

    Mobile : 01713-103662, 01713-196596

    Fax : 88-0341-63734

    HOB: Anupam Kumar Paul, AVP

    O R Nizam Road Branch

    191 CDA Avenue

    East Nasirabad, Chittagong

    Phone : 031-657512, 2550876

    Mobile : 01713-103663, 01841-013454

    Fax : 88-031-2550877

    HOB: Syed Mahbubul Haq, VP

    Chowmuhani Branch

    Samobay Bhaban, Karimpur Road

    Chowmuhani Begumgonj, Noakhali

    Phone : 0321-52960

    Mobile : 01713-036991

    Fax : 88-0321-52966

    HOB: Mohammed Masudul Hasan, FVP

    Feni Branch

    105 S S Kaiser Road Feni Model

    Thana, Feni

    Phone : 0331-63558, 63559

    Mobile : 01713-452994

    Fax : 88-0331-63557

    HOB: Abu Yusuf Md. Abdullah Haroon, FVP

    Comilla Branch

    1042/945 Jhawtala

    Comilla

    Phone : 081-65275

    Mobile : 01713-384498

    Fax : 88-081-65275

    HOB: M. A. Malek Patwary, FVP

    Sheikh Mujib Road Branch

    304 Sheikh Mujib Road

    Chittagong

    Phone : 031-2514236, 2524126-7

    Mobile : 01730-013454

    Fax : 88-031-2514235

    HOB: Mrinal Paul, VP

    Dagonbhuiyan Branch

    Mizan Tower, 273 Bashurhat Road

    Dagonbhuiyan, Feni

    Phone : 03323-79160, 79105

    Mobile : 01730-328684

    Fax : 88-03323-79106

    HOB: Md. Sana Ullah, FAVP

    Faridganj Branch

    Saima Abdullah Plaza, Chandra Road

    Faridganj Bazar, Chandpur

    Phone : 08422-64378

    Mobile : 01730-318187, 01819-244177

    Fax : 88-08422-64377

    HOB: A.T.M Monjurul Karim, FAVP

    Chittagong EPZ Branch

    S A Tower, 2 No. Mailer Matha

    South Halishahar Bandar, Chittagong

    Phone : 031-740682-3, 742217Mobile : 01730-318185

    Fax : 88-031-740684

    HOB: Md. Mahibbul Karim, SVP

    Patiya SME/Krishi Branch

    Rahman Mansion, 1284/1 Club Road

    Gobindokhal, Patiya, Chittagong

    Phone : 03035-56579Mobile : 01730-320813

    Fax : 88-03035-56579

    HOB: Md. Abu Taher, PO

    Amishapara SME/Krishi Branch

    Aziz Super Market

    Amishapara Bazar

    Shonaimuri, NoakhaliMobile : 01730-320812

    01730-340792

    HOB: Kamrul Islam Zabed, FAVP

    Rajnagar SME/Krishi Branch

    Balua Chowmuhani, Dholia

    Feni Sadar, Feni

    Phone : 0331-73782, 73783

    Mobile : 01711-303711, 01730-340793

    Fax : 88-0331-73784

    HOB: Md. Shahadat Hossain, FAVP

    Rangamati Branch

    Hotel Green Castle, 1 Patharghata

    Reserve Bazar, Rangamati-4500

    Phone : 0351-61267-68

    Mobile : 01730-709986

    Fax : 88-0351-61275

    HOB: Debabrata Das, FVP

    Banglabazar Branch

    Banglabazar, Begumganj

    Noakhali

    Phone : 0321-53305, 56631

    Mobile : 01730-709987

    Fax : 88-0321-53164

    HOB: Md. Mozammal Hussain, PO

    Maijdee Court Branch

    Honey Dew Point

    10 Abdul Malek Ukil Sarak

    Maijdee Court, Noakhali

    Phone : 0321-71710, 71711

    Mobile : 01730-709983, 01716-466599

    Fax : 88-0321-71712

    HOB: Md. Shahab Uddin Patwary, PO

    Ashuganj Branch

    Aziz Plaza, West Bazar

    Char Chartala

    Ashuganj, Brahammanbaria

    Phone : 08528-74592

    Mobile : 01755-533145

    Fax : 88-08528-74593

    HOB: Md. Shamsul Alam Siddique, PO

    A K Khan Moor Branch

    Anjuman Tower, Zakir Hossain Road

    827 Feroz Shah Colony

    Pahartali, Chittagong

    Phone : 031-2773369, 2773367

    Mobile : 01755-533140, 01730-444134

    Fax : 88-031-2773368.

    HOB: Md. Jamal Uddin, VP

    Head Office & Branch Network

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    RAJSHAHI DIVISION

    Rajshahi Branch

    ZODIAC Plaza

    Shaheb Bazar (Zero Point), Rajshahi

    Phone : 0721-772261, 771214

    Mobile : 01711-419079

    Fax : 88-0721-771215

    HOB: Md. Abdul Mannan, AVP

    Naogaon Branch

    J.R. Super Market, Old Bus Stand

    Chakdev MainRoad, Naogaon-6500

    Phone : 0741-63331, 69181, 69182

    Mobile : 01711-419057

    Fax : 88-0741-63230

    HOB: A S M Zakir Hossain, VP

    Bogra Branch

    Barogola, Bogra Sadar

    Bogra

    Phone : 051-69840

    Mobile : 01713-044835

    Fax : 88-051-69190

    HOB: A.H.M. Kawsarul Islam, AVP

    RANGPUR DIVISION

    Rangpur Branch

    Press Club Complex Biponi Bitan

    Station Road, Rangpur-5400

    Phone : 0521-51323, 51299

    Mobile : 01713-201636, 01713-203586Fax : 88-0521-51110

    HOB: Md. Abdul Matin, AVP

    Dinajpur Branch

    Dinajpur Plaza

    Goneshtola, Dinajpur

    Phone : 0531-61217

    Mobile : 01730-328682Fax : 88-0531-61218

    HOB: Md. Nazmul Kabir, AVP

    Thakurgaon Branch

    Afsar Uddin Chowdhury Plaza, College

    Road, 111 Asram Para, Thakurgaon

    Phone : 0561-61368

    Mobile : 01755-533143Fax : 88-0561-61367

    HOB:Md. Hazrat Ali, FAVP

    Nilphamari Branch

    Bari Plaza, Boro Masjid Road

    Nilphamari

    Phone : 0551-62007, 612008

    Mobile : 01755-533144

    Fax : 88-0551-62008

    HOB:Md. Mamunur Rashid, AVP

    Debiganj Branch

    1892, Debiganj Bazar

    Debiganj, Panchagarh

    Phone : 05654-56151

    Mobile : 01755-533147

    Fax : 88-05654-56152

    HOB:Md. Monjur Hossain, FAVP

    Gobindaganj Branch

    Anowara Super Market

    Gobindaganj, Gaibanda

    Phone : 05423-75083, 75387

    Mobile : 01755-637387

    Fax : 88-05423-75168

    HOB:Shah Md. Mizanur Rahman, FAVP

    Sapahar Branch

    Saha Complex, Main Road

    Sapahar, Naogaon

    Phone : 07432-74081

    Mobile : 01713-068096

    Fax : 88-07432-74080

    HOB: Md. Ruhul Amin Siddiqui, FAVP

    Chapai Nawabganj Branch

    65-67 Jhilim Road, Baro Indara More

    Sadar, Chapai Nawabganj

    Phone : 0781-51719, 51720

    Mobile : 01730-709982

    Fax : 88-0781-51707

    HOB: Syed Saiful Islam, AVP

    Shishahat Branch

    Khorpa, Porsha

    Naogaon

    Mobile : 01755-533141

    HOB: Md. Abdur Razzak, PO

    Nazipur Branch

    Noor Market, Harirampur, Nazipur

    Patnitola, NaogaonPhone : 07428-63293

    Mobile : 01713-203085

    Fax : 88-07428-63294

    HOB: Md. Abdul Kuddus Kazi, AVP

    Niamatpur Branch

    Girls Plaza, Balahore

    Niamatpur, NaogaonPhone : 07427-56257

    Mobile : 01712-075407, 01755-637385

    Fax : 07427-56256

    HOB: Md. Atiqur Rahman, SEO

    Patherhat Branch

    S M Shopping Center, Pather Hat

    Noapara, Raojan, Chittagong

    Phone : 031- 2573351

    Mobile : 01713-104508, 01755-637384

    Fax : 88-031- 2573352

    HOB: A.M. Monsurul Hoque, AVP

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    KHULNA DIVISION

    Khulna Branch

    Rupsha Plaza, 73 KDA Avenue C/A

    Sonadanga, Khulna

    Phone : 041-813561-2

    Mobile : 01713-400641

    Fax : 88-041-813563

    HOB: Mohammad Salah Uddin, AVP

    Jessore Branch

    A. Ali Complex

    45 R. N. Road, Jessore

    Phone : 0421-68091, 62933

    Mobile : 01730-328683

    Fax : 88-0421-65392

    HOB: B.M. Saifuzzaman, FVP

    Kushtia Branch

    A. Hamid market, N. S. Road

    Boro Bazar, Kushtia-7000

    Phone : 071-72412, 72411

    Mobile : 01730-709984, 01711-388747

    Fax : 88-071-72413

    HOB: Md. Ashraf-Bin-Azher, FAVP

    Chuadanga Branch

    Malik Tower, 107 Borobazar, ShaheedAbul Kashem Sarak, Chuadanga

    Phone : 0761-63641, 63871

    Mobile : 01714-031241

    Fax : 88-0761-63761

    HOB: Md. Arafat Mostofa, FAVP

    BARISAL DIVISION

    Barisal Branch

    141 Sadar Road, Barisal-8200

    Phone : 0431-2176209

    Mobile : 01713-38449601713-199827

    Fax : 88-0431-2176208

    HOB:Md. Humayun Kabir, AVP

    Patuakhali Branch

    0063-01 Natun Bazar, Patuakhali

    Sadar, Patuakhali-8600

    Phone : 0441-62979Mobile : 01730-340790

    Fax : 88-0441-62971

    HOB: Kazi Sohel, AVP

    Bhola Branch

    Karnaphuli Complex

    3373 Sadar Road, Bhola

    Phone : 0491-62720, 62721, 62722Mobile : 01755-637382

    Fax : 0491-62720

    HOB: Masum Iqbal, PO

    SYLHET DIVISION

    Sylhet Branch

    Raisot Tower, Laldighirpar, Sylhet

    Phone : 0821-723650, 723651Mobile : 01711-922810

    Fax : 88-0821-723722

    HOB: Imam Kabir Chowdhury, SVP

    Moulvibazar Branch

    152/2 Court Road, Moulvibazar

    Phone : 0861-62871, 62872Mobile : 01713-068126, 01713-386897

    Fax : 88-0861-62873

    HOB:Golam Moula, AVP

    Beanibazar Branch

    Zaman Plaza, Beanibazar, Sylhet

    Phone : 08223-56180Mobile : 01713-384495

    Fax : 88-08223-56181

    HOB: Md. Rezaul Haque Chowdhury, AVP

    Nabiganj SME/ Krishi Branch

    Sky Light Tower, Nabiganj

    Habiganj

    Phone : 08328-56307

    Mobile : 01730-320814, 01720-036093

    Fax : 88-08328-56306

    HOB: Syed Maniruzzaman, SEO

    Sunamganj Branch

    Zaman Complex, Arpin Nagor

    Sunamganj

    Phone : 0871-61278

    Mobile : 01755-533148, 01913-700566

    Fax : 88-0871-61280

    HOB: Md. Zainul Abedin, FVP

    Subidbazar Branch

    Prantik-16, 407 Sylhet, Sunamganj Road

    Subidbazar, Sylhet

    Phone : 0821-728371, 728372

    Mobile : 01713-386896, 01755-637383

    Fax : 88- 0821-728373

    HOB: Debojyoti Majumder, AVP

    Head Office & Branch Network

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    MERCANTILE BANK SECURITIES LIMITED

    Head office

    Swadesh Tower, 41/6 Purana Paltan, Dhaka-1000

    Phone : 02-7122513, 7122515, 7122356, 7119932

    Fax : 88-02-7119078

    BRANCHES

    Dhaka Branch

    Swadesh Tower

    41/6 Purana Paltan, Dhaka-1000

    Phone : 02-7122513, 7122515 7122356, 7119932

    Fax : 88-02-7119078

    Khulna Branch

    Rupsha Plaza

    73 KDA Avenue C/A

    Shonadanga, Khulna-9100Phone : 041-731396

    Fax : 88-041-731397

    Mirpur Branch

    Razia Plaza, Rokeya Sarani

    184, Senpara Parbata

    Mirpur - 10, Dhaka- 1216Phone : 02-9014660

    Fax : 88-02-9014680

    Sylhet Branch

    Al-Hamra Shopping City

    Zinda Bazar

    Sylhet-3100

    Phone : 0821-711565

    Fax : 88-0821-711571

    Uttara Branch

    House-22, Sonargaon Janapath,

    Sector-9, Uttara Model Town

    Dhaka-1230

    Phone : 02-8959047, 8950714

    Fax : 88-02-8961798

    Chittagong EPZ Branch

    Mishkat Arcade

    21/1 Agrabad C/A

    Chittagong

    Phone : 031-721865

    Fax : 88-031-721866

    Sat Masjid Road Branch

    House-735 (Old), 82/A (New)Road-8/A, Satmasjid Road

    Dhanmondi R/A, Dhaka-1209

    Phone : 02-9126872

    Fax : 88-02-9128541

    MERCANTILE EXCHANGE HOUSE (UK) LIMITED

    MBL Subsidaries

    Birmingham Branch

    Unit-2, 491 Coventry Road

    Small Heath, Birmingham, B10 0 J S, UK

    Phone : +44121-771-0546

    Mobile : +44-7949902426

    Fax : +44121-771-4675

    E-mail : [email protected]

    Khandakar Mahbub Murshed, Manager & Operation Director

    London Branch

    108 Whitechapel Road, London E1 1JE, UK

    Phone : +4420-3638-1919

    Mobile : +44-7738704863Fax : +4420-3638-1919

    E-mail : [email protected]

    Jude Mark Rozario, CEO & Manager

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    Other Executives of the BankExecutive Vice Presidents

    Md.Rabiul IslamNanda Dulal Bhattacharjee

    Senior Vice Presidents

    Faisal Ahsan Chowdhury

    Niranjan Chandra Gope

    Md. Sayeduzzaman Chowdhury

    Md. Abul Bashar

    Arif Md. Shahedul Haque

    Vice Presidents

    Md. Rashad Kamal (on leave)

    Abdus Salam Shaikh

    Md. Faruque AhmedA. K. M. Minhajul Islam

    Md. Jamal Hossain

    Md. Shafiqul Islam

    Md. Khurshid Anwar

    Lutful Haidar Chowdhury

    Kabir Ahmed

    Abu Asghar Gholam Haruni

    Mostaque Uddin Ahmed

    Md. Azimuddin

    First Vice Presidents

    Shah Nawaz Siddique

    Md. Enayet Ullah

    Moynul Islam

    Mahmood Hasan

    Md. Rezwanul Karim

    Tanusree Mitra

    Saiful Alam

    Golam Mohammed Zaidi

    Md. Shahadat Hossain Khan

    Mahmuda Akhter

    Mir Fauzia Rahman

    Md. Nurul Alam

    Farid Ahmed

    Zareen Ahmed

    Md. Masum Ali

    Alok Kumar Biswas

    Md. Shahidul Islam

    Mesbah Uddin Ahamed

    M. Ashik Arefin Hossain

    Md. Aliullah

    Md. Farid Uddin Ahmed Bhuiyan

    Basudeb Paul

    M. Ferdous Chowdhury

    Kazi Md. Safayet Kabir

    Assistant Vice Presidents

    Muhammad Lutful Haider

    K. M. Anowarul IslamMahmuda Khatun Munny

    Md. Abul Hossain

    Md. Mahbubur Rahman

    Md. Mostafizur Rahman

    Ferdausi Sultana

    Md. Mynul Hossain Kabir

    Shanaz Begum

    Harunur Rashid

    Sharina Quddus

    Asaduzzaman Pavel

    Lopita Mannan

    Sanjib Kumar Sarkar

    Md. Shahjahan Amin

    Tashfeen Saleh

    Fatema Saida Yasmin

    Md. Shaiful Alam Choudhury

    Muhammad Fayazur Rahman Biswas

    A.I.M. Mostafa

    Mohammad Mahtab Uddin

    Pratap Kumar Deshmukhya

    Suraya Nasrin

    Zihan Al Fuad

    Shahnewaz

    Shamim Ahmed

    Abu Sayed Md. Asadul Islam

    Md. Nasim Alam

    Sardar Mohammad Zobayar

    Ashish Kumar Lasker

    Md. Gias Uddin

    Md. Humayun Kabir Bhuiyan

    Md. Mizanur Rahman

    Jannatul Mawa

    Tapash Chandra Paul, Ph.D

    Md. Ekhlasul Moula

    Sayeda Sultana

    Abu Saleh Md. Ibrahim

    Muhammad Saiful Karim

    Md. Salahuddin Khan

    Deen Mohammad Khan

    Dipak Kumar Chakraborty

    Md. Sazzadur Rahman

    Md. Atiqur Rahman

    Asish Kumar Paul

    Md. Anisur Rahman

    Md. Akram Hossain

    Mohammad Rezaul Karim

    Md. Shaheen Reza

    Sayed Md. Moharram Hossain

    Munshi Md. Asif Reza

    Tarafder Sushil KumarMd. Zahed Hossain

    Ashfa Khanam

    Khandoker Akram Hossain

    Kazi Golam Rasul

    Md. Shah Jamal

    Asif Ahmed

    Md. Delwar Hossain

    S M Ruhul Amin

    Md. Sarware Alam

    Md. Mahfuzur Rahman

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    Our Coverage

    The green shaded districts represent our branch network coverage in the country.

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    Performance Indicators

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    (BDT in Million)

    Particulars 2008 2009 2010 2011 2012

    Income Statement

    Interest Income 5,604.36 6,741.69 7,669.42 10,719.69 14,207.72Interest Expenses 4,045.97 4,755.90 5,176.00 8,022.13 10,556.79

    Net Interest Income 1,558.39 1,985.79 2,493.42 2,697.56 3,650.93Non-Interest Income 1,273.14 1,506.12 2,282.39 3,404.69 2,459.83Non-Interest Expenses 1,250.02 1,580.21 1,928.69 2,600.57 2,759.98Net Non-Interest Income 23.12 -74.09 353.70 804.12 -300.15Profit before Provision and Tax 1,581.51 1,911.70 2,847.12 3,501.68 3,350.78Provision for Loans and Assets 299.83 248.92 411.20 497.50 969.33Profit after Provision before Tax 1,281.68 1,662.78 2,435.93 3,004.17 2,381.45Porvision for tax including deferred tax 665.80 855.26 1,010.59 1,270.00 1,000.00Profit after Tax 615.88 807.52 1,425.34 1,734.17 1,381.45

    Balance Sheet

    Authorized Capital 3000.00 8,000.00 8,000.00 8,000.00 8,000.00Paid-up Capital 1,798.68 2,158.42 4,072.21 4,968.10 6,110.75Shareholders' Equity 3,470.09 4,296.25 7,185.69 9,659.33 10,924.55Deposits 49,538.35 58,033.47 75,629.14 102,262.02 132,093.64Loans and Advances 43,419.36 48,295.55 66,377.70 79,999.80 93,610.87Investments 6,264.71 9,664.72 10,937.20 24,645.38 41,314.19Fixed Assets 683.00 1,032.83 1,647.58 2,711.32 2,898.60

    Total Assets 55,928.72 66,166.52 87,140.11 116,553.01 154,040.18Foreign Exchange Business

    Import 56,528.80 60,592.50 89,524.10 95,008.70 113,434.10Export 43,108.50 46,298.60 59,404.20 81,311.80 81,477.10Remittance 4,722.90 5,061.30 5,108.10 7,150.00 15,792.80

    BIS Capital Measure (SOLO)

    Total Risk Weighted Assets under Basel II (Basel I for2008 & 2009) 40,634.58 47,685.71 95,158.50 101,085.30 111,524.70Core (Tier I) Capital 3,470.92 4,236.52 7,100.80 8,834.97 10,216.87Supplementary (Tier II) Capital 660.29 758.91 1,583.52 1,794.40 1,861.99Total Capital/Regulatory Capital 4,131.21 4,995.43 8,684.32 10,629.37 12,078.86Core Capital to RWA 8.54% 8.89% 7.46% 8.74% 9.16%Supplementary Capital to RWA 1.63% 1.59% 1.67% 1.78% 1.67%Capital Adequacy Ratio under Basel II (Basel I for2008 & 2009) 10.17% 10.48% 9.13% 10.52% 10.83%

    Credit Quality

    Non Performing Loans (NPL) 1,242.47 1,252.05 1,187.81 2,084.62 4,090.92Provision for unclassified Loan 438.20 518.50 749.00 889.63 969.00

    Provision for classified Loan 578.20 629.70 617.53 712.42 1,495.87NPL to total Loans and Advances 2.96% 2.59% 1.78% 2.61% 4.37%

    Common Share Information

    Market Price per Share (BDT) 34.83 39.50 58.05 34.80 19.10No. of Shares Outstanding (Million) 179.87 215.84 407.22 496.81 611.08Earning per Share (BDT) 2.85 3.07 4.10 3.49 2.26Dividend: 20.00% 22.00% 22.00% 23.00% 15% Cash - - - - 7.00% Stock 20.00% 22.00% 22.00% 23.00% 8.00%Dividend Payout Ratio 70.10% 71.73% 54.09% 63.90% 66.37%Market Capitalization 6,263.89 8,525.73 23,639.12 17,288.96 11,671.54Book Value per Share 19.29 19.90 17.65 19.44 17.88Market Value Book Value multiple 1.81 1.98 3.29 1.79 1.07Price Earning Multiple (Times) 12.21 12.88 14.14 9.97 8.45

    Operating Performance Ratio

    Net Interest Margin (NIM) 3.72% 3.58% 3.59% 2.93% 2.99%

    Net Non-interest Margin 0.05% -0.13% 0.51% 0.87% -0.25%Earning base in Assets (average) 90.56% 90.81% 90.62% 90.46% 90.15%Cost Income Ratio 44.15% 45.25% 40.38% 42.62% 45.17%Credit Deposit Ratio 87.65% 83.22% 87.77% 81.68% 79.26%Cost of Deposits 9.19% 8.81% 7.94% 9.63% 10.02%Yield on Loans and Advances 13.24% 13.12% 12.80% 13.86% 14.72%Spread 4.05% 4.31% 4.86% 4.23% 4.70%Return on Average Assets 1.22% 1.32% 1.86% 1.70% 1.02%Return on Average Equity 17.75% 18.80% 19.84% 17.95% 13.42%Equity Multiple (Times) 16.12 15.40 12.13 12.07 14.10

    Other Information

    No. of Branches 42 53 65 75 86No. of Employees 1,115 1,303 1,526 1,668 1,981No. of Correspondence Relationship 586 590 589 638 627

    Fiancial Highlights

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    Graphical Presentation

    2008 2009 2010 2011 2012

    299.83 248.92

    411.20497.50

    969.33

    Provision for Loans and Assets

    2008 2009 2010 2011 2012

    615.88

    807.52

    1,425.34

    1,734.17

    1,381.45

    Profit after Tax

    2008 2009 2010 2011 2012

    49,538.3558,033.47

    75,629.14

    102,262.02

    132,093.64

    Deposits

    2008 2009 2010 2011 2012

    1,558.39

    1,985.79

    2,493.422,697.56

    3,650.93

    Net Interest Income

    2008 2009 2010 2011 2012

    3,470.094,296.25

    7,185.69

    9,659.33

    10,924.55

    Shareholders' Equity

    2008 2009 2010 2011 2012

    43,419.36 48,295.55

    66,377.70

    79,999.80

    Loans and Advances

    93,610.87

    2008 2009 2010 2011 2012

    56,528.80 60,592.50

    89,524.1095,008.70

    113,434.10

    Import

    2008 2009 2010 2011 2012

    1,581.511,911.70

    Profit before Provision and Tax

    3,501.68 3,350.78

    2,847.12

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

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    2008 2009 2010 2011 2012

    43,108.5046,298.60

    59,404.20

    81,311.80

    Export

    81,477.10

    2008 2009 2010 2011 2012

    4,722.90 5,061.30 5,108.107,150.00

    Remittance

    15,792.80

    2008 2009 2010 2011 2012

    4,131.21 4,995.43

    8,684.3210,629.40

    12,079.00

    Capital Fund

    2008 2009 2010 2011 2012

    19.29

    19.90

    17.65

    Book Value per Share

    19.44

    17.88

    2008 2009 2010 2011 2012

    3.72%

    3.58% 3.59%

    2.93% 2.99%

    Net Interest Margin (NIM)

    2008 2009 2010 2011 2012

    10.17%10.48%

    9.13%

    10.52%10.83%

    Capital Adequacy Ratio

    2008 2009 2010 2011 2012

    1,242.47 1,252.05 1,187.81

    2,084.62

    Non Performing Loans (NPL)

    4,090.92

    2008 2009 2010 2011 2012

    34.8339.50

    58.05

    34.80

    19.10

    Market Price per Share

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

    (BDT in Million)

    (BDT)

    (BDT)

    www.mblbd.com

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    Yields on Advances

    2008 2009 2010 2011 2012

    2.85 3.07

    4.10

    3.49

    2.26

    Earning per Share

    2008 2009 2010 2011 2012

    44.15%

    45.25%

    40.38%

    42.62%

    Cost Income Ratio

    45.17%

    2008 2009 2010 2011 2012

    9.19%

    8.81% 7.94%

    9.63%

    Cost of Deposits

    2008 2009 2010 2011 2012

    4.05% 4.31%

    4.86%

    4.23%

    Spread

    10.02%

    (BDT in Million)

    (BDT)

    4.70%

    2008 2009 2010 2011 2012

    13.24% 13.12% 12.80%13.86% 14.72%

    2008 2009 2010 2011 2012

    42

    53

    65

    75

    No. of Branches

    86

    2008 2009 2010 2011 2012

    No. of Employees

    2008 2009 2010 2011 2012

    55,928.72

    1,115

    1,303

    1,526

    1,668

    1,981

    66,166.52

    87,140.11

    116,553.01

    154,040.18

    75

    Total Assets

    86

    Graphical Presentation

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    Market Performance

    Dhaka Stock Exchange (DSE)

    January, 2012

    February, 2012

    March, 2012

    April, 2012

    May, 2012

    June, 2012

    July, 2012

    August, 2012

    September, 2012

    October, 2012

    November, 2012

    December, 2012

    Chittagong Stock Exchange (CSE)

    Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

    40

    35

    30

    25

    20

    15

    10

    5

    0

    Dhaka Stock Exchange(DSE)

    Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

    40

    35

    30

    25

    20

    15

    10

    5

    0

    Chittagong Stock Exchange(CSE)

    www.mblbd.com

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    Financial Calendar

    Quarterly Results

    Particulars Submission Date

    Audited consolidated results for

    the 4th quarter ended 31 December 2011

    Unaudited consolidated results for the

    1st quarter ended 31 March 2012

    Unaudited consolidated results for the

    2nd quarter and half-year ended 26.07.2012

    30 June 2012

    Unaudited consolidated results for the

    3rd quarter ended 30 September 2012

    Dividends

    Particulars Record Date Allotment Date

    Distribution of 23% stock 06.03.2012 28.03.2012

    dividend in respect of

    financial year ended on

    31 December 2011

    Annual General Meetting (AGM)

    Particulars Notice Date Held On

    13th AGM 15.02.2012 28.03.2012

    Taxation on Dividend Income

    Stock dividend is tax exempted. In case of cash

    dividend, following is the rate of tax deduction at source

    on dividend income as per current fiscal act:

    If the shareholder is a company, either resident ornon-resident, at the rate applicable to the company

    i.e. 20%

    If the shareholder is a resident person, other thancompany, at the rate of 10%

    If the shareholder is a non-resident (Other than

    Bangladesh) person, other than company, at the

    rate of 25%

    Since stock dividend is out of the loop of withholding tax

    deduction, its effective rate of return is much higher

    than cash dividend.

    Taxation on Capital Gain

    Capital gain arising from transfer or sale of GovernmentSecurities is tax exempted. Capital gain arising from

    transfer or sale of Stocks and Shares of publicly listed

    companies listed with stock exchanges is taxable at the

    rate of 10%. For non-resident the tax exemption on

    capital gain shall be allowed if the similar exemption is

    allowed in the country of residence of the non-resident.

    Other Information

    Exchange controls and other limitations affecting equity

    security holders

    Non-residents can buy and sell MBLs share and

    transfer the dividends after complying with Guidelines

    for Foreign Exchange Transactions 1996 and SEC

    Rules.

    Stock Details

    Particulars DSE CSE

    Stock Symbol MERCANBANK MERCANBANK

    Company Code 11128 22023

    Listing Year 2003 2003

    Market Category A A

    Electronic Share Yes Yes

    Market Lot (Nos.) 500 100

    Face Value (Taka) 10 10

    Total Number of Shares 611,075,316 611,075,316

    (31-12-2012)

    Accessibility of Annual Report 2012

    Annual Report 2012 and other information about MBL

    may be accessed on MBLs website www.mblbd.com.

    MBL provides copies of Annual Reports to the

    Bangladesh Securities and Exchange Commission,

    Bangladesh Bank, Dhaka Stock Exchange and

    Chittagong Stock Exchange for their reference.

    Respectable stakeholders may read them at their public

    reference room or library.

    Shareholders Inquiries

    Share Department

    Mercantile Bank Limited

    Head Office

    61 Dilkusha Commercial Area

    Dhaka-1000

    Web: www.mblbd.com

    15.02.2012

    26.04.2012

    04.11.2012

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    Capital Adequacy

    Complying the new risk based capital adequacy

    framework i.e. Basel II, MBL maintains a strong capital

    base. Total eligible capital of the Bank stood at BDT

    1,207.90 Crore as on December 2012 which is well

    above than minimum requirement of BDT 1,115.25

    Crore as on the same date. Capital Adequacy Ratio is

    10.83% (Solo) as on December 2012 compared to

    minimum requirement of 10% as per Basel II.

    Economic Impact refers to the effect of a policy,

    program, project, activity or event on the economy.

    Economic impact is usually measured in terms of

    changes in economic growth (output or value added) andassociated changes in jobs (employment) and income

    (wages). We can understand how a bank adds value to

    the society by analyzing economic impact.

    MBL aims to create optimum value to its stakeholders.

    Economic impact report highlights the value that the

    Bank caters to its shareholder and to the country as a

    whole. Among others, followings are the important

    measures taken by the Bank with a view to offering

    sustainable values to its stakeholders.

    EconomicImpact Report

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    Economic Value-Added (EVA) attempts to capture the

    true economic profit of a company. EVA is calculated by

    deducting the cost of equity capital employed from the

    post-tax profit plus provision for loans and advances.

    Companies which earn higher returns than cost of

    capital create value. Therefore, Shareholders/Equity

    providers are always conscious about their return on

    capital invested. As a commercial banking company,

    MBL is deeply concerned for delivering higher value to

    its Shareholders/Equity providers.

    Value added statement shows how much value (wealth)

    has been added and distributed by MBL in 2012 for its

    employees, government and shareholders in the form of

    salaries & allowances, income tax, profit after tax

    respectively and also indicates depreciation value of

    fixed assets.

    December, 2012 December, 2011

    Total Eligible Capital Minimum Capital Requirement

    1,2

    07.9

    0

    1,1

    15.2

    5

    1,0

    62.9

    4

    1,0

    10.8

    5

    23%

    35%

    12%26%

    4%

    (BDT in Million)

    (BDT in Million)

    (BDT in Core)

    To Employees

    To Government as Income Tax

    Retained Earnings

    To Statutory Reserve

    Depreciation

    Value Added Statement

    for the year ended December 31, 2012

    Economic Value Added Statement

    Particulars 2012 2011

    Income from Banking Services 16,667.55 14,124.38

    Less: Cost of Services & Supplies (11,808.45) (9,200.08)

    Value added by Banking Services 4,859.10 4,924.30

    Provision for loans & off -balance sheet items (969.33) (497.50)

    Total Value Added 3,889.77 4,426.80

    Distribution of value addition 2012 2011To Employees 1,363.76 1,292.01

    To Government as Income Tax 1,000.00 1,270.00

    Depreciation 144.56 130.61

    To Statutory Reserve 476.29 600.83

    Retained Earnings 905.16 1,133.34

    Total 3,889.77 4,426.80

    2012 2011

    920.42

    1,202.10

    (BDT in Crore)

    Dec-12 Dec-11

    Tier-1 (Core Capital) 1,021.70 883.50

    Tier-2 (Supplementary Capital) 186.20 179.44

    Tier-3 (Additional Supplementary

    Capital) - -

    Total Eligible Capital 1,207.90 1,062.94

    Total Risk Weighted Assets (RWA) 11,152.47 10,108.53

    Capital Adequacy Ratio (Solo) 10.83% 10.52%

    Core Capital to RWA 9.16% 8.74%

    Supplementary Capital to RWA 1.67% 1.78%

    Minimum Capital Requirement (MCR) 1,115.25 1,010.85

    Economic Value Addition (BDT in Million)

    Particulars

    Economic Impact Report

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    Market Value Added Statement

    for the year ended December 31, 2012

    Market value added (MVA) shows the difference

    between the total market value and total book value of

    shares of a company. A high Market Value Added

    indicates that the company has created substantial

    wealth for the equity holders. The market value of the

    Bank stood at BDT 11,671.54 million whereas the book

    value of the share stood at BDT 10,924.55 million,

    resulting a Market Value Added of BDT 746.99 million

    as on December 31,2012.

    Particulars No. of Shares Outstanding Per Share (BDT) BDT in Million

    Market value 611,075,316 19.10 11,671.54

    Book value 611,075,316 17.88 10,924.55

    Market value added 746.99

    Payment of Dividends

    MBL has been maintaining a very healthy and stable

    dividend policy. During the last few years the Bank paid

    only stock dividend with a view to strengthening its

    capital base and thereby maintaining strong capital

    adequacy as per Basel II. This year, Board has

    recommended 15% dividend (cash dividend @ 7% and

    stock dividend @ 8%).

    22%

    20%

    22%

    23%

    15%

    2008 2009 2010 2011 2012

    Particulars 2012 2011

    Shareholders' Equity 10,924.55 9,659.33

    Add: Cumulative provision for loans and

    advances and off-balance sheet exposure 2,947.42 2,010.87

    13,871.97 11,670.20

    Average Shareholders' Equity 12,771.09 10,295.67

    Earnings

    Profit After Tax 1,381.45 1,734.17

    Add: Provision for loans and advances and off-balance sheet

    exposure during the year 969.33 497.50

    Total Earnings (a) 2,350.78 2,231.67

    Average cost of equity (based on first year's return on sanchaypartra by the

    Government of Bangladesh) plus 2% risk premium 11.20% 10.00%

    Total cost of average equity (b) 1,430.36 1,029.57

    Econmic Value Addition (a-b) 920.42 1,202.10

    (BDT in Million)

    Market Value Book Value Market Value added

    746.9

    9

    10,9

    24.5

    5

    11,6

    71.5

    4

    (BDT in Million)

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    Segment Reporting

    MBL Operation

    Banking Operation

    (BDT in Crore)

    (BDT in Crore)

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    Message from the Chairman

    Bismillahir Rahmanir Rahim

    Assalamualaikum

    Dear Shareholders, Respected members of the Board and the MBL Team,

    Its my pleasure to welcome you all to the 14th Annual General Meeting (AGM) of Mercantile Bank Limited (MBL) and

    to present before you the Annual Report 2012 and the Audited Financial Statements for the year ended on 31

    December, 2012. On behalf of the Board of Directors, I would like to express my gratitude and thanks for your

    continuous support and co-operation. Your support has helped us attain a base in the finance industries. Thanks to you,

    our customers and all other stakeholders. We have been able to establish ourselves as a bank of repute.

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    Global Economy in 2012

    The world economy has passed another challenging

    year in 2012. More than four years after the turbulence,

    the global economy continues to feel the effects of the

    financial crisis. On-going market volatility continues tofetter economic growth throughout the world. Global

    growth dropped to almost 3% in 2012, which indicates

    that about half a percentage point has been trimmed off

    the long-term trend since the crisis emerged. This

    slowing trend is likely to continue. Mature economies are

    still healing the scars of the crisis. But unlike 2010 and

    2011, emerging markets did not pick up the sl