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FCI counts another Associate Member in Bangladesh: Mercantile Bank Limited
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Mercantile Bank Limited (MBL) was established on June 02, 1999 by a group of visionary people aiming to contribute significantly to the financial system and thereby sustainable economic growth of Bangladesh. Since then, MBL has been able to establish itself as a leading third generation private commercial bank in Bangladesh by dint of its prudent policy guidelines coupled with dynamic management who ensures proper execution, wider range of banking products and superior customer services. The core activities of the Bank are to provide all kinds of commercial banking services including Deposits Mobilization, Corporate Banking, SME, Retail, Foreign Trade and Foreign Exchange Business, Offshore Banking, Treasury function, Card business, Mobile Banking (MyCash) etc.

Currently, MBL is running with 2,448 employees and 149 branches connected with real-time online banking software i.e. TEMENOS T24 and 183 own ATM booths. MBL has 4 subsidiary companies naming Mercantile Exchange House UK Ltd., Mercantile Bank Securities Ltd. (MBSL), MBL Asset Management Limited and MBL MyCash Limited. MBL’s customer size is more that 1 million.

MBL is rated by international rating agency i.e. Moody’s which has assigned B2 rating to MBL.

During last 21 years of business, MBL made significant growth in all areas of Banking Business. As on September 31, 2020 total Asset size of the Bank crossed USD 5 billion, deposits and advances stood at USD 3.05 billion and USD 2.99 billion respectively. Total equity was USD 263 million whereas total Capital stood at USD 412 million. Capital to Risk Weighted Assets Ratio (CRAR) as per Basel III stood at 14% which is far higher than the minimum requirement of 12.50%. 

Albeit MBL is a third generation private commercial bank, but it has surpassed many first and second generation banks in terms of many key financial indicators. MBL stand among the top 7 banks in Bangladesh in terms of Foreign Trade business. In the year 2019, MBL handled as many as 43,000 Letter of Credits including 21,000 foreign LC. MBL handled total Import of USD 2.17 billion and Export USD 1.92 billion in the year 2019. MBL maintains correspondent banking relationship with more than 600 renowned banks across the world and also avails significant amount of credit line from more than 50 (fifty) correspondent banks. Major foreign Correspondent Banks of MBL are Commerzbank, Unicredit Bank, Banca UBAE SPA, Wells Fargo Bank, JPMorgan Chase Bank, Standard Chartered Bank, Mashreq Bank, Emirates NBD Bank, Doha Bank, RAK Bank etc.