FE Report

Standard Chartered Bank, Bangladesh has been ranked first among the foreign banks in Bangladesh by the Institute of Cost and Management Accountants of Bangladesh.

This was declared at the award giving ceremony of ICMAB's 'Best Corporate Performance Award' 2008 in the city recently, said a press release.

Jim McCabe, CEO of Standard Chartered Bangladesh, received the award from Md Abdul Hamid MP, speaker of the Parliament.

McCabe, in his speech, congratulated all staff of the bank for the great achievement.

"This award highlights our success story and is a testament to our strong performance in Bangladesh and continued commitment to this market'', he said.

"We shall continue to maintain our stringent standards of governance and performance in the future. I'd also like to thank all our stakeholders for their continued support to Standard Chartered in Bangladesh", he added.

This is the second consecutive year that Standard Chartered Bank, Bangladesh has been awarded first position for this particular award in the same category.

Capital adequacy, asset quality, earning/profitability and liquidity and financial flexibility in the quantitative areas and corporate governance, market share, contribution to the national economy, corporate social responsibility were the defining criteria for this award.

A total of 19 corporate bodies, in six different categories, were given awards.

Standard Chartered Bangladesh also received the esteemed 'Best Foreign Commercial Bank in Bangladesh 2009' award by FianaceAsia earlier this year; and 'Best Retail Bank in Bangladesh' award in 2007 from 'The Asian Banker: Excellence in Retail Financial Services' programme for its performance in 2007.

Standard Chartered Bank is the largest international bank in Bangladesh with 25 Branches and 50 ATMs; employing over 1,300 people. It is the only foreign bank in the country with presence in 6 cities - Dhaka, Chittagong, Khulna, Sylhet, Bogra and Narayanganj.