TABLE OF CONTENTS
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Page No
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ACKNOWLEDGEMENT
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IV
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EXECUTIVE SUMMARY
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V
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ACRONYMS AND ABBREVIATIONS
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VII
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CHAPTER
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1
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INTRODUCTION
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1
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1.1
1.2
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Introduction
Origin of the Report
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2
2
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1.3
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Objectives of the Report
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3
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1.4
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Scope of the Report
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3
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1.5
|
Methodology
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4
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1.6
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Limitations
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4
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CHAPTER
|
2
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ORIENTATION OF THE ORGANIZATION
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6
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2.1
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Introduction
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7
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2.2
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Structure of the Corporate Office
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8
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2.3
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Director's and Person’s Profile
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10
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2.4
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11
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2.5
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Corporate Objective
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11
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2.6
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SWOT Analysis
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11
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2.7
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Values Considered as Guiding Factors
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14
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2.8
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Equity Formation
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14
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2.9
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Performance of the Bank
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15
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2.10.
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Special Features of Bank
|
17
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2.11.
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Products and Services
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18
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2.12.
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Correspondence Banking
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20
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CHAPTER
|
3
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JOB ROTATION DURING INTERNSHIP
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21
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CHAPTER
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4
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CREDIT FACILITIES, PRICIPALS AND STRATEGIES
|
27
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4.1
4.2
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Introduction
Types of Credit Facilities Offered by Bank
4.2.1 Funded Facilities
4.2.2 Non-Funded Facilities
|
28
29
29
32
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4.3
|
Principals of Landing
|
33
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4.4
|
Strategies of Lending Procedure
|
34
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4.5
|
Classification of Loans and Provisioning
4.5.1. Unclassified Loans
4.5.2 Classified Loans
|
35
36
36
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4.6
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Evaluation of Loan Products, Principals and Strategies
|
37
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CHAPTER
|
5
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CREDIT PROCEDURE FOLLOWED BY BANK
|
39
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5.1
5.2
5.3
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Introduction
Different Activities in Lending Process
Role of Different Organizational Levels in lending Process
|
40
40
45
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5.4
|
Loan Process Schedule with PERT Network
|
46
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CHAPTER
|
6
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CREDIT RISK MANAGEMENT ANALYSIS IN BANK
|
49
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6.1
6.2
6.3
6.4
|
Introduction
Financial Spread Sheet Analysis
6.2.1. Importance of Financial Spread Sheet
6.2.2. Breakdown of Financial Spread Sheet
6.2.3. Requirement of Financial Spread Sheet
6.2.4. CRGM Used in Credit Evaluation
Definition of Credit Risk Grading (CRG)
6.3.1 Use of Credit Risk Grading
6.3.2 Credit Risk Grading Definitions
How to Compute Credit Risk Grading
|
50
50
50
51
52
54
55
55
56
58
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CHAPTER
|
7
|
CREATION OF CHARGES ON SECURITIES
|
61
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7.1
7.2
7.3
|
Introduction
Security for Loans and Advances
Types of Security
|
62
62
62
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7.4
|
Attributes of Good Security
|
64
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7.5 Charge, Types of Charge
|
64
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7.6
7.7
|
Documentation Against Advances
7.6.1 Types of Documentation
Modes of Creating Charge on Security
7.7.1 Hypothecation
7.7.2 Mortgage, Types of Mortgage
7.7.3 Lien, Exceptions to the right of Lien
7.7.4 Assignment, Legal Assignment
7.7.5 Set-of, Right to Set-of
|
65
65
67
67
69
70
71
72
| ||||||||||||
CHAPTER
|
8
|
CREDIT RISK MANAGEMENT TECHNIQUIES UESD BY BANK
|
73
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8.1
8.2
|
Introduction
Purpose of Credit Risk Monitoring in Bank
|
74
74
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8.3
|
Credit Administration as a Tool of CRM
|
74
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8.4
8.5
8.6
8.7
|
Risk Grading as a Tool of Credit Monitoring
Early Warning System for Effective Monitoring
Failure Prediction Model
Loan Monitoring Through Continues Reporting
|
76
78
79
81
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CHAPTER
|
9
|
AN EVALUATION OF CREDIT POLICIES AND RISK MANAGEMENT TECHNIQUES OF BANK AISA
|
82
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9.1
9.2
|
Introduction
Borrower Selection
|
83
83
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9.3
|
Problems in Borrower Selection
|
84
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9.4
|
Evaluation of the Branch Activities
|
84
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9.5
|
Evaluation of the Corporate office Activities
|
85
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9.6
9.7
9.8
9.9
|
Evaluation of Credit Analysis
Evaluation of Lending Risk Analysis
Evaluation of Charge Creation
Evaluation of loan monitoring Techniques
|
86
86
87
88
| ||||||||||||
CHAPTER
|
10
|
FINDINGS OF THE REPORT
|
89
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10.1
10.2
10.3
|
Introduction
Major Findings of the Report
Identification Some Problems Regarding Credit Risk Management
10.3.1 Lack of Deposit for Credit Extensions
|
90
90
92
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10.3.2 Mentally of not to Repay the Loan
10.3.3 Defective Legal System
10.3.4 Delay in loan Sanction
10.3.5 Higher rate of for Credit
|
93
93
93
93
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10.3.6 Changes in Policies
10.3.7 Irregularity in Providing loan
|
93
93
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CHAPTER
|
11
|
RECOMMENDATION & CONCLUSION
|
94
| |||||||||||
11.1
11.2
|
Recommendation
Conclusion
|
95
97
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REFERENCES
|
98
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APPENDICES
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ExecutiveSummary
This Thesis Report covers the details of Bank Asia’s practices about credit management activities emphasizing the approval and risk management process. The report consists of the writer’s observation and on the experiences during prepared the thesis paper period in the credit department ofBank Asia Limited. The thesis mainly emphasizes the sequential activitiesinvolved in credit approval process, analytical techniques used by Bank Asiafor credit analysis as an integral part of the credit approval process. The thesis also focuses on the risk management techniques adopted by Bank Asia bothin pre-sanction and post-sanction period of a credit. Finally the reportincorporates an evaluation of the different aspects of the lending process andrisk management techniques and makes some recommendations.
Bank Asia offers both funded and non fundedcredit facilities to its customers. Bank Asia follows some specific principalsfor its credit activities, which involve Know Your Customer (KYC), safety,liquidity, profitability, purpose and spread.
The lending procedure followed by Bank Asiaconsists of a set of sequential activities. In these sequential activities,both bank officials and potential borrowers play significant role
Credit analysis if the borrower is foundsound for lending, the bank proceeds to prepare the credit proposal. The creditproposal consists mainly of a brief description of the borrower, purpose of theloan, collateral, and expiry of the credit line, amount, interest rate and theresult of the credit analysis. The credit proposal is prepared to facilitatethe approval of that particular loan either by Bank Asia credit committee or bythe Board of Directors.
Bank Asia does not have any fixed timeduration to complete lending process for a particular loan proposal. The totalduration of the time required to complete the lending process varies with thenature of credit, collection of information, nature of information, analysis ofinformation, preparation of the proposal, corporate office scrutiny, boardapproval, preparation of sanction advice, creation and collection of chargesdocuments and actual disbursement of loan.
Bank Asia must try to reduce the timerequired by a particular lending process to be completed. The higher duration,the higher the loan processing cost.
Bank Asia is currently facing problem inmobilizing its deposits in the form of credit. Number of banks operating in themarket is more but number of potential and good borrower is less. ThereforeBank Asia should adopt aggressive marketingfor its loan products. The bank must find unexpected but profitable sector forfinancing. Along side, to expedite the lending process right borrower has to beselected with strict adherence to KYC, relevant information has to be collectedquickly, analysis must be done precisely and faster, credit proposal has to beprepared in a way that will represent a transparent picture of the borrower’sfinancial strength and business potential and finally to reduce the time involvedin the lending process. Board meeting for the approval of large loans shouldhave twice a month.
Lending is the main income generatingactivity for all banks including Bank Asia. Lending involves both risk andprofit. But a sound lending process supported by quantitative analysis,qualitative judgment and a separate credit monitoring cell can reduce the riskto a certain extent. So far Bank Asia has maintained a very good loan portfolioand its lending process is reasonably sound. Bank Asia will be able to manageits lending process and management techniques more effectively andefficiently.
1.1 Introduction
Bank is committed toprovide high quality financial services/products to contribute to the growth ofthe country through stimulating trade and commerce, accelerating the pace ofindustrialization, boosting up export, creating employment opportunity for theyouth, poverty alleviation, raising standard of living of limited income groupand overall sustainable socio-economic development of the country. In achievingthe aforesaid objectives of the Bank, Credit Operation of the Bank is of paramountimportance as the greatest share of total revenue of the Bank is generated fromit, maximum risk is centered in it and even the very existence of Bank dependson prudent management of its credit portfolio. The failure of a commercial Bankis usually associated with the problem in credit portfolio and its less oftenthe result of shrinkage in the value of other assets. As such, credit portfolionot only features dominant in the assets structure of the Bank, it is cruciallyimportance to the success of the Bank also.
Bank can lend upto 84%of the total amount of its total time and demand liabilities. The rest 16% iskept as Statutory Liquidity Reserve (SLR) with Bangladesh Bank. But in practicebanks do not lend the whole 84% and a certain portion is set to meet up theday-to-day banking operations and also meet up the liquidity requirement of thedepositors. Bank can lend upto 15% of its paid up capital without the approvalof Bangladesh Bank but above that level approval from Bangladesh Bank is required.
1.2 Origin of the Report
Retail banking is a major source of earning for BankAsia limited. The principal issue to beconsidered while giving the facilities to individual consumer or to groups isthe opportunity associated with such activities. Retail banking opportunity isanalyzed through considering a number of factors involved in it. All financial institutions have theirindividual way of measuring and managing opportunity to keep it at the highestpossible level.
1.3 Objectives of the Report
Theobjectives of the study are as follows:
Broad Objectives
*The broad objective of the report is to have an overview on credit approval and risk management techniques adopted by BankAsia.
Specific Objectives
* To develop knowledgeabout credit risk management of Bank Asia.
* To identify thestrengths and weaknesses of the credit approval and monitoring process in BankAsia.
* To make recommendationsregarding the Bank’s credit risk management activities.
1.4 Scope of the Report
This reportconsists of the writer’s observation and on the experiences during the thesisperiod in the credit department of Bank Asia. The report mainly emphasizes thesequential activities involved in credit approval process, analyticaltechniques used by Bank Asia for credit analysis as an integral part of thecredit approval process. The report also focuses on the loan risk managementtechniques adopted by Bank Asia both in pre-sanction and post-sanction periodof a credit. Finally the report incorporates an evaluation of the differentaspects of the lending process and monitoring techniques and findings problemsand makes some recommendations.
1.5 Methodology
Sources of Data Collection
Information used in this report has been collected fromboth primary and secondary sources. Primary data were collected mainly throughthe writer’s observation of the approval process and monitoring techniques,informal interviews of executives, officers and employees of Bank Asia.
Majority of the information werecollected from the secondary sources, which include books, publications,reading materials and various circulars and reporters published by Bank Asia.
Data Analysis
This is adescriptive report mainly aiming to depict the credit approval process andmonitoring techniques of Bank Asia. The data gathered from both primary andsecondary sources were arranged orderly to get a clear picture of the BankAsia’s credit management policy regarding lending process and monitoring. Thestudy includes both qualitative and quantitative analysis of loan approvalprocess and monitoring tools. Based on the observational information writeralso tries to evaluate and analyze the problems involved in various phases ofthe credit approval process and Risk management techniques.
Presentation of Results and Recommendationsare made based on the critical evaluation of the different phases of processand techniques involved in credit approval and monitoring.
1.6 Limitations of the Study’s
There were certainlimitations regarding the study that is summarized below:
* Deficiencies in datarequired for the study.
* Inaccurate orcontradictory information.
* Field practice varieswith the standard practice that also created problem.
* Time provided forconducting the study is another important constraint.
CHAPTER 2
2.1 Introduction
Bank Asia Limited is a schedule Bank under private sectorestablished with in the ambit of Bank Company Act, 1991 and was incorporated asa Public Limited Company Under Company Act, 1994 on September 28, 1999 . The Bank startedcommercial banking operations from November 27, 1999 with the inauguration of the Bank’sCorporate Office at the Rangs Bhaban. A huge public response has enabled theBank to keep up the plan of expanding its network. The opening of the principaloffice was the big leap forward and successively the opening of Gulshan and Chittagong Dhaka and four branches in Sylhet and Kishorgonj. InFebruary 2001, Bank Asia took over the Bangladesh operation of The Bank of Nova Scotia, the first acquisition of a foreign bankby a local bank in the banking history of Bangladesh Bangladesh operationof Muslim Commercial Bank of Pakistan
Bank Asia has so farbeen highly successful in keeping its customers satisfied with its high qualityservice, while continuing its expansion to reach more people around thecountry. Bank Asia conducts all types of commercial banking activities. TheBank is involved in most of the areas of commercial banking operations. Themanagement of Bank Asia is determined to maintain and upgrade the quality ofthese resources through continuous training and upgrading technology to keeppace with market demands, new developments and practices of the competitors.Bank Asia entered the market at a time when economic policy environment of thecountry is poised for higher level of business activities and growth. Theprevailing macroeconomic management and the government’s determination to carryon reforms in the banking sector provide a supporting and encouragingenvironment.
2.2 Structure of the Corporate Office
Figure-2.1: Structure of the Corporate Office
2.3 Directors’ and Key Persons’ Profile
The Board of Directors of Bank Asia Limited consists of13 Directors including one Chairman, one First Vice Chairman and one SecondVice Chairman. The list of Directors is given below:
Figure-2.2: Structure of Board of Directors
Chairman | |
 |
Mr. Anisur Rahman Sinha
|
Vice Chairmen | |
|
Mr. Anwarul Amin
|
|
Mr. A. M. Nurul Islam
|
Directors | |
|
Mr. A. Rouf Chowdhury
|
|
Mr. M. Mustafizur Rahman
|
|
Mr. Romo Rouf Chowdhury
|
|
Mr. Mohd. Safwan Choudhury
|
|
Mr. Rumee A Hossain
|
|
Mr. Mir Shahjahan
|
|
Mr. Faisal Samad
|
|
Lt. Col. Mr. Fariduddin Ahmed (Retd)
|
|
Ms. Sohana Rouf Chowdhury
|
President & Managing Director | |
|
Mr. Erfanuddin Ahmed
|
2.4 Mission Statement of Bank Asia
* To assist in bringinghigh quality service to their customers and to participate in the growth andexpansion of our national economy.
* To set high standardsof integrity and bring total satisfaction to their clients, shareholders andemployees.
* To become the most sought after bank in the country, renderingtechnology driven innovative services by their dedicated team of professionals.
2.5 Corporate Objectives
Bank Asia’s objectivesare reflected in the following areas:
* Highly personalizedservice.
* Customer-driven focus.
* Total commitment toquality.
* Contribution in theeconomy.
* Quality of humanresources.
* Commitment to itsclients at each level.
The company believesthat communication with, and feedbacks from its clients help it achieve itsgoal of providing world-class product and services. Bank Asia regularlyconducts client satisfaction surveys and make immediate accommodations andadjustments where needed. It also constantly monitors its standards, andstrives to meet clients’ requirements.
2.6 SWOT Analysis of Bank Asia
Every organization iscomposed of some internal strengths and weaknesses and also has some externalopportunities and threats in its whole life cycle. The following will brieflyintroduce the customer to the Bank Asia’s internal strengths and weaknesses,and external opportunities and threats as I have explored in the past tenweeks.
2.6.1 Strength
* Superior Quality: Bank Asia provides its customers excellent quality of service. It gives the firstpriority to customer satisfaction.
* Dynamism: Bank Asia draws its strength from the adaptability and dynamism it possesses. It hasquickly adapted to world class standard in terms of banking services. Bank Asiahas also adapted state of the art technology to connect with the world forbetter communication to integrate facilities.
* Financial Strength: Bank Asia isa finally sound company backed by the enormous resource base of the motherconcern Rangs Group. As result customers feel comfortable in dealing with thecompany.
* Efficient Management: All the levels of the management ofBank Asia are solely directed to maintain a culture of the betterment of thequality of the service and development of a corporate brand image in the marketthrough organization wide term approach and open communication system.
* Experts: The key contributing factor behind the successof the Bank Asia is its employee, who are highly trained and most competent intheir own field. Bank Asia provides their employees training both in-house andout side job.
* Excellent Working Environment: Bank Asia provides its workforce an excellent place to work in. Total complex has beencentrally air conditioned. The interior decoration was done exquisitely withchoice of soothing colors and blend of artistic that is comparable to anyoverseas bank.
2.6.2 Weaknesses
* Limited Workforce: Bank Asia haslimited human resources compared to its financial activities. There are notmany people to perform most of the tasks. As a result many of the employees areburdened with extra workloads and work late hours with out any overtimefacilities. This might cause high employee turnover that will prove to be toocostly to avoid.
* Problem in Delivery: Few of the Bank Asia’s products offeredto its clients like “Personal Credit (PC)” is lying idle due to propermarketing initiative from the management. These products can easily be madeavailable in attractive ways to increases its client base as well as itsdeposit status.
2.6.3 Opportunities
* Government Support: Government of Bangladesh
* Evaluation of E-Banking: Emergence of e-banking will open morescope for Bank Asia to reach the clients not only in Bangladesh
2.6.4 Threats
* Merger and Acquisition: Theworldwide trend of merging and acquisition in financial institution iscausing concentration. The industry and competitors are increasing in powertheir respective areas.
* Poor Telecommunication Infrastructure: As previouslymentioned, the world is advancing e-technology very rapidly. Though Bank Asiahas taken effort to join the stream of information technology, it is notpossible to complete the mission due to poor technology and infrastructure ofour country.
* Frequent Currency Devaluation: Frequent devaluation ofTaka exchange rate fluctuations and particularly South-East Asian currencycrisis adversely affects the business globally.
* Emergence of Competitors: Due to high customerdemand, more and more financial institutions are being introduced in thecountry. There are already 52 banks of various types are operating in thecountry. Many banks are entering the market with new and lucrative products.The market for banking industry is now a buyer dominated market. Unless BankAsia can come up with attractive financial products in the market, it will haveto face steep competition in the days to come.
2.7 Values Considered as Guiding Factors
All theactivities and decisions of Bank Asia are based on, and guided by, thesevalues:
Ø Placing the interestsof clients and customers first.
Ø A continuous quest forquality in everything the company does.
Ø Treating everyone withrespect and dignity.
Ø Conduct that reflectsthe highest standards of integrity.
Ø Teamwork- from thesmallest unit to the enterprise as a whole.
Ø Being good citizens inthe communities, in which they live and work.
2.8 Equity Formation
AUTHORISED CAPITAL
12,000,000 Ordinary Shares of Tk. 100.00 each Tk. 1,200,000,000.00
PAID UP CAPITAL
Issued
3,000,000 Ordinary Shares of Tk. 100.00 each have already
been subscribed for and fully paid up by the Sponsors.
Tk.300,000,000.00
To be Issued
3,000,000 Ordinary Share of Tk. 100.00 each are being hereby
offered to the General Public for Subscription in cash.
Tk.300,000,000.00
Pre-IPO
1,000,000 Ordinary Shares of Tk. 100.00 each at par have been
subscribed by investors under private placement arrangement
Tk. 100,000,000.00
IPO
2,000,000 Ordinary Shares of Tk. 100.00 each at par are being
hereby offered to the general Public for Subscription in cash.
Tk. 200,000,000.00
TOTAL Tk.600,000,000.00
2.9 Performance of the Bank
2.9.1 Deposits
A strong deposit base is necessary for the success of aBank. During the year 2008 the Bank mobilized a substantial amount of depositsfrom mid-level income group people under Deposit Savings Scheme. After criticalhandling the Bank mobilized total Deposit of Tk .14,884.91 million as atDecember 31, 2008, thus recording an increase in comparison with Tk. 13,470.98million as at December 31, 2004 . The significant growth in deposit enabled the Bank to expandits business, performing assets and also had an impact on the profit positionof the Bank.
2.9.2 Advances
The Bank’s Loans and Advances portfolio also indicates animpressive growth. Total Loans and Advances amounted to Tk. 17,897.15 millionin 2008 up to July against Tk. 11,861.19 million in 2007. Bank Asia’s Advance portfolio is well diversified andcovers a wide range of businesses and industries. The sectors financed includeManufacturing, Trading, Construction, Transport, Agriculture, Fishing andForestry, Edible Oil, Pharmaceuticals, Information Technology, and ConsumerCredit amongst others. Advances constitute the most significant indicator ofthe health of a Bank. The Bank has formulated its policy to give priority toSME (Small and Medium Enterprise) and at the same time the Bank is financinglarge-scale enterprises through consortium of Banks. Bank Asia is committed tomaintain a very high quality of assets. Close monitoring and efficient assetmanagement has resulted in minimal creation (1.50%) of classified loans tototal Loans and Advances.
2.9.3 Foreign Exchange Business
InternationalTrade constitutes the main stream of business activities of Bank Asia. Theyoffer a full range of trade finance and services namely, issue, advise andconfirmation of Documentary Credit, arranging forward exchange coverage;pre-shipment and post shipment finance; negotiation and purchase of exportbills; discounting bill of exchange; collection of bills, inward and outwardremittance etc.
· Import Business: The Bank established Letters of Creditamounting to Tk. 21,747.60 million during 2008; showing over the volume of Tk.18,942.40 million in the year 2007.
· Export Business: The total export handled by the bank amountedto Tk. 7,103.50 million for the year 2008 compared to Tk. 5,996.48 million for 2007.
2.9.4 Investment
Investment stood at Tk. 4,048.58 million at the end of2008. This consists of Tk. 3,240.51 million in Treasury Bills and Prize Bonds,Tk. 529.75 million in Debentures and Tk. 202.34 million in Shares.
2.9.5 Dividend
Bank Asia has distributed a substantial amount ofdividend in the preceding years and also strengthened the platform of the Bank.The percentages of distribution of dividend are as follows.
Table-2.1: The percentages ofdistribution of dividend
Year
|
Cash Dividend (%)
|
Bonus Dividend
(%)
|
Total
(%)
|
2006
|
16%
|
8%
|
24%
|
2007
|
17%
|
8%
|
25%
|
2008
|
18%
|
8%
|
26%
|
2.10 Special Features of the Bank
Ø Bank Asia is engaged inconventional commercial banking. It is also in the process of introducingbanking functions on Islamic Banking Principles.
Ø It is the pioneer inintroducing and launching different customer friendly deposit schemes to tapthe savings of the people for channeling the same to the productive sectors ofthe economy.
Ø For uplifting thestandard of living of the limited income group of the population, the Bank hasintroduced Consumer Credit Schemes by providing financial assistance in theform of loan to the consumers for procuring household durables, which have hadencouraging responses.
Ø The Bank is committedto continuous research and development so as to keep pace with modern banking.
Ø The operations of theBank are computer oriented to ensure prompt and efficient services to thecustomer.
Ø The Bank has introducedcamera surveillance system (CCTV) to strengthen the security services insidethe Bank premises.
Ø The Bank has introducedcustomer relations management system to assess the needs of various customersand resolve any problem on the spot.
2.11 Products and Services
Bank Asialaunched several financial products and services since its inception. Amongthem are Monthly Savings Scheme, Monthly Benefit Scheme, Special SavingsScheme, Consumer Credit Scheme, Small Loan Scheme, Rural Finance Scheme andE-cash (ATM). All of these have received wide acceptance among the people.
Ø Monthly Savings Scheme : The Prime objective of this scheme isto encourage people to build up a habit of saving. In this scheme, one can savea fixed amount of money every month and receive substantial lump sum of moneyafter three to five years.
Ø Monthly Benefit Scheme : Monthly benefit scheme is a five (05)years scheme that lets Depositors earnmonthly benefit of Tk. 1000 or its multiple by minimum initial deposit of Tk.100,000 or its multiple and after maturity depositors will get refund ofhis/her principal amount.
Ø Special Savings Scheme : Special savings scheme is a 7 (seven)or 10 (ten) year’s scheme. The Deposit doubles in 7 years and triples in 10years.
Ø Bonus Savings Scheme: A savings Account with a minimum balanceof Tk. 50,000 will attract not only the usual savings interest but also afurther 10% bonus on interest.
Ø Personal Credit: Personal credit is a relatively new field ofcollateral-free finance of the Bank. People with fixed income can avail ofthese credit facilities to buy household goods, consumer items, or to renovateexisting house, etc.
Ø Credit Loan: If customers are in possession of BSP(Bangladesh Sanchay Patra), which will mature within the next 5 years, but theyare in dire need of funds now, this scheme can come to their rescue.
Ø Rural Development Scheme: Rural DevelopmentScheme has been evolved for the rural people of the country to make themself-employed through financing various income generating activities. Thisscheme is operated through the rural branches of the Bank.
Ø E-Cash Banking Facility: The E-cash card is an ATM card. It canbe used as a combination of debit facility. The E-cash card network offers allbanking requirements without ever setting foot in a bank. It’s more than justan ATM service for quick cash withdraws or account enquiries. E-cash cardprovides round the clock banking.
Ø Credit Card Facilities: Bank Asia introduced credit card which name is Master card.
2.12 Correspondence Relationship
On the eve oflaunching, Bank Asia established local correspondent arrangements with UttaraBank’s sixty four branches, National Bank Limited and Agrani Bank Limited, thuscovering almost the entire country and facilitating the ability to meet takatransaction requirement for the customers.
The bank establishedcorrespondent relationships with a number of foreign banks, namely CITI BankN.A, Bank of Tokyo, Standard Chartered Bank and AB Bank Limited. The bank ismaintaining foreign currency accounts in New York ,Tokyo , Calcutta and London
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