ComBank to tie-up with Bangladesh banks for retail banking
MD, Amita Gooneratne
Commercial bank is targeting the incoming remittances to the country
through their e-banking system. The e-banking customers vary from time
to time and its very seasonal for us. MD Commercial Bank, Amita
Commercial Bank will be tying up with banks with ATM facilities in
Bangladesh to enter into the retail banking business in future. We are
looking for the portfolio of the banking industry in Bangladesh, Chief
Financial Officer, Commercial Bank Nandika Buddhipala said yesterday at
the launch of the bank's annual report 2007.
"Our entry into the Bangladesh banking industry is to attract
corporate customers of the country. Presently our customer base is 5,000
corporate members and we have nine branches so far, he said.
Commercial Bank also had entered into some contracts with several
Middle-Eastern and European agents to collect the transfer of funds
earned by locals working in those countries. Those agents on behalf of
the Commercial Bank collect the remittances effectively and this led our
fund transfer services much faster than earlier, Buddhipala said.
He said Commercial Bank's key investment of the year is on IT. This
investment varies on the basis of the new banking projects and the ATM
projects. The off-shore banking portfolio of the bank is now very
active, but banks don't have much benefit on that, because the interest
rates do not vary from the inter banking transaction rates, he said.