Page |1

1. Profile
NRB Bank is one of the fourth generation private sector banks to have begun operations in 2013,
where local meet global. Bringing together a passionate and entrepreneurial group of NRB
investors from all over the world, NRB Bank aims to be the leading dedicated financial
institution for NRBs to invest in Bangladesh and for Bangladeshi individuals and corporate to
access international market. NRB Bank offering Corporate, SME, Retail banking, NRB and
Premium banking to meet the needs of a broad customer base. With a mission on building long
term commitment with our clients, NRB Bank will be providing the right solutions that combine
professionalism, expertise and financial strength, and aims to be the preferred provider of
financial services. We demonstrate our bank with the motto "Not just another Bank" through our
Values Dynamic, Innovative, Global, Integrity and Techno- Centric to create distinct financial
Bank locally and internationally.

Vision
To be the leading dedicated financial institution for NRBs to invest in Bangladesh and for
Bangladeshi individuals and corporates to access international markets.

Mission
NRB Bank aims to be the preferred provider of targeted financial services as a conduit for
investment to and from Bangladesh for our Bangladeshi communities both domestically and
internationally, to accelerate the industrialization of Bangladesh.
We will strengthen these relationships by providing the right solutions that combine
professionalism, expertise and financial strength. Values Dynamic We strive to change and
perform to progress Integrity We foster ideas through finding better ways to improve Global
We empower to create competitive edge to set international standard Innovation We govern by
the principles of ethics and transparency Techno centric We step ahead with technological
advancement

Values
Dynamic Strive to change and perform to progress
Integrity Govern by the principles of ethics and transparency
Global Empower to create competitive edge to set international standard
Innovation Foster ideas through finding better ways to improve
Techno centric Step ahead with technological advancement

Page |2

Goal
The main goal of NRB bank is to create customer loyalty, shareholder value and employee
satisfaction.

2. Specializations
NRB Bank Limited is playing the most significant role in collecting remittance from NRB (Non
Resident Bangladeshi) from different countries and transfers the currency in BDT to the destined
location. Bringing together a passionate and entrepreneurial group of NRB investors from all
over the world, NRB Bank aims to be the leading dedicated financial institution for NRBs to
invest in Bangladesh and for Bangladeshi individuals and corporate to access international
market. Unlocking a new horizon to the Bangladesh economy by facilitating NRB inward
investment to Bangladesh and providing NRBs a complete financial solution.

3. Product and service offered by organization

Product and services is the main assets of any organization. NRB Bank is playing the most
significant role in offering specialized services to different clients or agencies throughout the
country. The product and services of NRB Bank Ltd can be divided in two categories
Wealth Management
Remittance Service

3.1.

Wealth Management

To better manage your expectations and add value, we understand that each investor has a unique
set of investment objectives for achieving their financial goals.

3.1.1. Deposit Products

3.1.2. NRB MY SAVINGS
NRB My Savings is a daily interest bearing and half yearly interest paying Taka Savings
Account for non- resident Bangladeshis.
Key Features
Interest bearing Savings Account
Local currency debit card and cheque book

Page |3

Remittance from abroad directly credited to this account

Remittance sent to this account can be used to invest in Wage Earner's
Development Bond (WEDB)
3.1.3. NRB FCY
NRB FCY is a Foreign Currency Current Account featuring variety of currencyUSD/GBP/EURO

Key Features
Account balance remains in Foreign Currency which is freely remittable abroad
Cash withdrawal facility in local currency in Bangladesh converted at prevailing
exchange rate
Funds can be used to invest in different NRB Bonds
Cheque Book
Account can be operated by the mandate also
3.1.4. NRB Rising
NRB Rising is an interest bearing Foreign Currency Fixed Deposit Account with a choice of
tenure for fixed deposits for 1/3/6/12 months with option of auto renewal.
Key Features
o Choice of currencies- USD/GBP/EURO
o Competitive Interest Rates
o Accounts may be opened against remittances in other convertible currencies after
conversion.
3.1.5. Term Deposit
Term Deposit is a smart solution to get more out of long term investments with choice of tenure
in BDT.
Key Features
Attractive Interest Rates; for details please visit Interest Rates
Overdraft credit facility against the Term Deposit (maximum 90% of the value) is
available
Minimum opening amount: BDT 100,000
Tenure is 1 month, 3 months, 6 months, 1 year and 2 years
3.1.6. Monthly Secured DPS

Page |4

Monthly Secured DPS gives the opportunity to save money with the guarantee of maturity value
in case of sudden demise of the depositor. The nominee of the deceased will receive the full
maturity value in addition to the deposited amount even after depositing only a single
installment.

Key Features
Built-in insurance coverage assures the maturity value of the deposit in case of
depositor's death* (excluding AIDS, suicide, murder or assault, war or warlike
operation etc.)
Choice of monthly deposit amount ranging from BDT 500 up to BDT 13,000
Convenient scheme tenure option of 5 years & 10 years
Credit facility up to 90% of the deposited amount available after 2 years
Option to open multiple schemes up to total maturity value of BDT 1,000,000
3.1.7. Monthly Benefit Scheme
Monthly Benefit Scheme is a Term Deposit Scheme that offers monthly return on Term Deposit.
It allows earning and enjoying interest that accumulates from the deposited amount while the
principal amount remains untouched.
Key Features
Minimum principal amount: BDT 100,000
Tenure of this Term Deposit is 1 year (12 Months)
Overdraft credit facility against the Term Deposit (maximum 90% of the value) is
available
3.1.8. NRB Bonds
NRBs can invest in the following bonds through NRB Bank:
o Wage Earners Development Bond (WEDB) Principal amount can be repatriated
to the NRB's residing country
o US Dollar Premium Bond (USDPB) is entirely tax waived. Principal amount can
be repatriated to the NRB's residing country
o US Dollar Investment Bond (USDIB) is entirely tax waived. Principal amount and
interest both can be repatriated to the NRB's residing country

Page |5

3.2. Loan Products

3.2.1. Quick Loan
Quick Loan is an Overdraft facility for resident and non-resident Bangladeshis. This is a quick,
convenience and easy way to meet financial needs in emergency.
Key Features

Competitive interest rate; for details please visit Interest Rates

EMI based flexible repayment option in 1,2 and 3 years
Cheque book available
Early settlement option

3.2.2. Quick Cash

Quick cash is an Overdraft facility for resident and non-resident Bangladeshis. This is a quick,
convenience and easy way to meet financial needs in emergency.
Key Features

Competitive interest rate; for details please visit Interest Rates

Flexible repayment option
Cheque book available
Early settlement option

3.3. Remittance Service

If you are looking for a simple, quick and safe way to send money to Bangladesh, NRB
remittance is the solution for you. NRBs can send remittance to Bangladesh from any part of the
world through overseas banks or exchange companies and the fund gets credited in the following
manner:
Direct transfer to sender / beneficiary's account maintained with NRB Bank
Transfer funds via EFT to other bank accounts in Bangladesh
SWIFT Code is NRBDBDDH

4. SWOT" ANALYSIS
4.1 DEFINITION of 'SWOT Analysis'
A tool that identifies the strengths, weaknesses, opportunities and threats of an organization.
Specifically, SWOT is a basic, straightforward model that assesses what an organization can and

Page |6

cannot do as well as its potential opportunities and threats. The method of SWOT analysis is to
take the information from an environmental analysis and separate it into internal (strengths and
weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT
analysis determines what may assist the firm in accomplishing its objectives, and what obstacles
must be overcome or minimized to achieve desired results.
4.2 Strengths
Strength is resource skill or other advantage relative to competitors & the needs of the markets a
firm serves or expects to serve.
a) Company republication :
NRB Bank Limited, has already gained reputation in banking industry in this country
particularly among the new comers. With in a period of 2years, NRB Bank Limited has already
established affirm toting in the banking sector having tendons growth in the profits & deposits.
b) Sponsors :
NRB Bank Limited has been founded by a group of eminent entrepreneurs of the country having
adequate financial strength. The sponsors directors belong large industry & conglomerates of
the country.
c) Top management:
The top management of the bank is also a major strength for the NRB Bank Limited &
contributed heavily towards growth & development of the bank. The too management officials
all have reputed of banking experience. Skill & expertise.
4.3 Weaknesses :
Weakness is a limitation or deficiency in resources skills or capabilities that seriously impedes a
firms effective performance. NRB Bank Limited weaknesses are as follows.
a) Advertising & promoting:
This is the major set bank for NRB & one of its weakest points. NRB does no pursue on
aggressive marketing compared to other banks. It is not in the lime light like other banks. NRB
does not have any display boards.
b) Disguised employment :
Currently, there are from bone heads but few hands and this is related to the problem or
reference appointment. There are people who are only drawing salaries at the end of the month
but not have a part of contribution towards the organization. On the country, there are people
who worked hard but are not appreciated accordingly.

Page |7

d) Team work:
At having Midlevel & lower level management. There are no team works. But it is obvious that
many jobs are performed in groups of two or three in order to reduce the work load & enhance
the process of complication of the job.

4.4 Opportunities:
NRB Bank Limited can purse a diversification strategy in expanding its current line of business.
The management considers options of starting merchant banking or diversifies into leasing&
cons odium business by expanding business portfolio in migraine possible for NRB Bank
Limited to reduce business risk.
4.5 Threats
a) Multinational bank:
The repaid expansion of multinational bank poses a potential threat to the new private Banks.
Due to the booming energy sector, more foreign banks are expected to operate in Bangladesh.
Since the foreign banks have spectacular financial strength, it will poses threat to local banks to a
certain extent in terms of grabbing the in creative clients.
b) Upcoming banks:
The upcoming banks private local banks also pose a threat to the existing commercial Bank more
of the local private banks may emerge. If that happens the intensity of competition will rise
further & banks will have to develop new strategies to complete the faring banks.
c) Contemporary banks:
The contemporary banks of NRB Bank Limited like Dhaka bank, prime bank, one bank,
southeast bank. Exim bank is its major rivals. They are carrying out aggressive comparing to
lucrative, corporate clients as well as long time depositors. NRB Bank Limited should recur
vigilant absent the steps taken by these banks as these will in turn affect NRB Bank Limited
strategies.

5. Information Technology @ NRB Bank

As a fourth generation bank, NRB Bank has deployed technology as a strategic business enabler
that is integrated across business divisions and Operations to ensure and facilitate the highest
standards of service quality and operational excellence to customers. NRB BANK has adopted
technology that is aligned to the best-in-class international banking practices, including

Page |8

governance frameworks. Our technology architecture and the innovative IT outsourcing structure
have enabled us to achieve high standards of service and faster time to market.
NRB Bank uses many world class proven solutions which are pivotal in providing best quality
banking services. Core Banking Software (CBS) implementation project brings the vital success
in growth of the bank. Oracle Flexcube Universal Banking Solution is being chosen for Core
Banking operation. The centralized operation of the bank from branch banking to treasury back
office is fully automated under Oracle Flexube system.
NRB Bank facilitated Automated Teller Machine (ATM) of leading NCR brand to all the
branches from the very beginning of the operation. NRB Bank is connected with Q-Cash
Gateway that enables customer for doing transaction into NRB Bank ATM Machine as well as
3000+ ATMs connected to Q-Cash the largest ATM sharing group of Bangladesh. Customers are
getting notification for every ATM transaction through SMS notification service.
Bank has designed and implemented a Secured, robust LAN and WAN architecture network
connecting branches/offices and ATMs. Bank uses CISCO technology platform with Adaptive
Identification and Mitigation (AIM) architecture to secure and protect bank network from
external threats and malicious attack. Bank signed agreement with Microsoft for Technology
Adoption under Microsoft office suite bundle.
State of art IP based telephony system has made our staff mobile and reachable even while out of
desk. IT Department introduces Service Desk & IT Asset management that keeping all the
records of IT Assets electronically. Bank employees are being served through Service Desk
management system for any kind of IT related issues.
In the year 2014 NRB Bank will be launching internet banking facilities for their respective
customer. This internet banking will be designed as per the customer and enterprise demands.
Bank will also establish call center with worlds leading technology solution from AVAYA.
Finally talented resource pool is the pivotal strength of NRB banks Information Technology
Division. We believe that only skilled resource can make the difference.

Page |9

Conclusion
NRB Bank Limited has been established to meet up the local demand using the foreign
remittance sent by the NRBs, who are working very hard in abroad. This bank is to safeguard the
depositors' money as the custodian and also to return it to them with a better value. Keeping all
these in mind, I, along with some renowned NRBs, with the due approval of the regulatory
bodies, established NRB Bank Limited to become the pioneer leading from the front in the
economic development of Bangladesh. NRB Bank Limited to become the pioneer leading from
the front in the economic development of Bangladesh. This bank is providing timely, efficient &
innovative banking services with its well-equipped employees and also trying heart and soul to
fulfill its shareholders' desire. NRB Bank Limited has a credit policy to give its customers world
class services at the earliest. They have aware to reach our customers throughout home and abroad
with wide range of branches. Also wanted to open branches in such a way that can follow the
Bangladesh Bank's 1:1 branch policy as well as assure banking for those approximately 45%
unbanked population.

P a g e | 10

References
Annual report of NRB Bank Limited (2013 and 2014)
Operational Manual of NRB Bank Limited
Investment Manual of NRB
Training documents of department officers
Previous reports containing banking information
www.google.com
www.wikipedia.com
NRB Remittance based articles and reports
www.nrb.com.org