(As on December 31, 2019)

Dear Fellow Stakeholders,

Assalamualaikum,

I express my solemn thankfulness and due admirations to all of our well-wishers, my sincere gratefulness to all partners for their generous supports and ceaseless contribution to NRB Global Bank Limited since commencement. Again, I would like to present the “7th Annual Audited Financial Report- Fiscal Year (FY) 2019 (January-December, 2019)”. On behalf of our eminent Directors and Sponsor Shareholders, I would like to thank you for your marvelous persistent patronages rendered to me as well as Bank Management, which helped me a lot to manage the NGBL commendably and appropriately with full indulgence.

On behalf of NGBL, I would like to make the pledge to socio-economic evolvement and welfare for our local and global requirements to our respected clienteles, as we marched into the new landmark for ascribed affluence of all communities in the society.

As covenanted to be the most distinctive name in NRB Banking as well as being responsible socially, we are trailing with great flexibility of resilience and buoyancy keeping in mind the strength of long offered sensible growth of Bangladesh.

Obviously, it is ever-changing in the banking scenery; shifting customer outlooks, technology, with regulations, greater competition, demographics, and issues with banks’ own legacy business and operating repetitions. The Mission, Vision and encounters are vivacious, even if, we have been aggravating our best to undertake it within the requisite period.

Global Economic Stature:

The World Economy conceded away from end to end some significant ups and downs owing to US-China Trade War, henceforth associating monetary hegemony of China and India; Rohingya tragedy and other geo-political trepidations stayed as well more or less significant traits. It signifies from the report circulated by UNCTAD that 2019 proficient feeblest financial growth in a decade and around has been a trepidation that this measured step of growth inclination may perhaps turn out as absolute retrenchment in 2020. The report highlights that the legislators of the established and developing countries ought to take preventative actions to covenant with the outcomes from trade wars between US and China, BREXIT, currency twisting and engagements of interest rates in an elongated path. The report also emphasized that sluggish step of growth in foremost economies including the US pointed towards the confidence on malleable pecuniary policy and asset prices to encourage mandate at best produces transient growth but not inevitably be viable. One more citable instance is that corporate income tax slashes so far disastrous to generate any investment extravaganza in the real economy.

The US, the leading economy of the world, accounted for 24% of global economy logged 2.30% growth in 2019 and escalating the whole movement it is anticipated that US economy will have involvement in growth of 1.9% in 2020 as in contrast to the beleaguered target of 3%. China, the second largest economy in the standing accounted for 16% of global GDP has now become the reason of distress, particularly the reverberation impression of the Covid-19 situation has put obstacle on the economy. Japan, the world’s third prime economy has also experienced shrinking growth, which is projected to develop by 0.60% in 2020 compared to 1% in 2019. The economy of Japan has been firm hit by the US-China trade battle. Germany, the world’s fourth biggest economy and the impetus for Eurozone closely protected from practical downturn in 2019. Altogether the presented data specify the depressing growth panorama.

Stature of Bangladesh’s Economy:

Bangladesh is anticipated to proceed from least advanced country and inevitably will adore the rank of emerging country in 2024. It has fixed to attain GDP growth rate of 9.9% and in this manner to grasp to the trail of high income country by 2041. Amidst 2021 and 2041 the country is intended to accomplish justifiable progress objectives by 2030 and in that way fetching superior mid earnings country. All those objectives are not inevitably the nightmare, on the other hand we have faith in that considerable potentiality and vision to extent to the supreme preferred level of growth route in the manner of valediction by reconnoitering all the obtainable prospects in the steam of resource constrictions. The present Government is precise considerable and dedicated to grasp the objectives both from short and long term standpoint into a veracity.

Constant with the Bangladesh Bureau of Statistics, Bangladesh recorded deterioration by 7.6% in the first five months of the present financial year whereas imports slipped by 3.20 % all through the same period. Bangladesh has perceived export commanded economic growth in recent years mostly obsessed by the private segment.

An enormous public sector investment stemmed from the escalation in GDP by 8.13% as a decent number of substructure linked mega projects are in the headway of execution. In the tangible sagacity of the span private segment investment endures huge significance to guarantee persistent growth of the economy and establishment of employment prospects. In the recent preceding, private sector investments have deteriorated which is mostly the effect of liquidity crisis and shot up of NPLs. From this situation, it is evident that robust growth impetus of remittance during the period has replaced the opening in export retributions. Influx of remittance hopped nearby by 23% in the first four months of the existing financial year. Remittance netting mounted at USD$20 billion at the yearend 2019 which is mostly owing to the impression of reduction of taka and outline of 2% cash enticement on remittance earnings.

Financial Performance of NGBL:

Nevertheless, facing of scary coincidences from twisted business and political atmosphere, NGBL has unmoved to provide robust financial representation. At the end of the year 2019, bank’s total deposit size stood at BDT 96,716.34 Million while, total loans and advances stood at BDT 82,365.60 Million. However, NGBL flourished to locate a modest network of 69 (sixty nine) branches in the country map so far, irrespective of the various troposphere. But persistent the capacity, NGBL wishes to eloquent the obligatory measures for the wellbeing on producing more vibrating in the specified field.

In contrast, the Bank diversities vigilant in light of the reservations in the worldwide economy and will remain to be useful to sustain reasonable growth. Through the Bank’s robust reputation of financial enactment as well as dynamic asset quality and aided by a substantial capital structure, the Bank is sound equipped to grasp projections intensifying from the next level of growth. By way of the banking environments remnants to advancement and change, the bank will remain to be persistent and captivated order, a sustainable business that has the forte to sustenance its customers through economic cycles and comprehension new forecasts as soon as they escape of the phrase.

Key Strengths of NGBL:

It is our belief that our people are the key strength for flourishing of business and foremost impetus of the NGBL marque. The pledge to our employee is a persistent and fragmentary procedure and our goal is to generate an atmosphere somewhere the employees endowed, stay inspired, and sense acknowledged for their effort which facilitates them to acquire and raise with the establishment. NGBL has 69 (sixty nine) branches including 04 (four) AD Branches and 65 (sixty five) ATMs throughout the country to deliver unified facilities to its clienteles. By the side of the Bank, we are elevating our Core Banking Solutions (CBS) Temenos T24 to ensure concurrent unified banking services. The Bank is firming up its position, together with the state-of-the-art technology and need-based products for its customers. Furthermore, the Bank has been taking initiatives for expanding its prospect from end to end rendering banking services to under-privileged inhabitants with ‘NGBL Agent banking’ which will magnify the financial inclusion of the country. By dint of existence operationally admirable altogether, we confirm that we finance sustainably to expose forthcoming growth prospects, despite the fact dealing with budget base by revealing collaborations and proficiencies.

Compliance Culture at NGBL:

The Board of Directors endeavors to make and sustain community confidence by relentlessly observing to the utmost decent standards. NGBL is steadfast to respectable corporate governance, which upholds durable benefits of shareholders, fortifies Board and management responsibility and aids edifice public confidence in the Bank. At the same time, we are also devoted to retaining the utmost level of decent standards of reliability, corporate governance and regulatory compliance. We have hands-on endorsed good governance observes and are persistently determined to augment our values. At NGBL, we have recognized an objective adapted to culture assisted by comprehensive virtuous training.

Going for the Futuristic Approach:

In 2020, we may perhaps facade some happenstances which are to be properly addressed and necessary to pledge with attentively. Fundamentals like escalating liquidity issue, classified loan, rise in cost of deposit are among those come across. In addition, US-China trade battle is also going to stance as hazard, since this kind of disastrous trade conflict can squeeze the worldwide trade balance and draw back the recession. Moreover, the intensifying external transaction rates is going to stand threat to our entire economy. On the other hand, we are not overseeing the scenarios forthcoming for us. Constant with the most recent testament of Worldwide Research, Bangladesh is anticipated to be the leading promoter in the global gross domestic product positions in 2030, and to accomplish that target of the economy of Bangladesh is going led for reliable trajectory. We are also assertive in pull together the economic target of achievement to middle income country rank in 2021 by endorsing an annual 8.13% GDP advancement.

As a result of on the control of its specific customary of insight, NGBL prerequisites and strategies to redefine its standup and cross the threshold in the spectacular of crafting indicators for new techniques of business services and betterment of NRB Banking. Together with this assurance inclined, NGBL has already considered and designed new products and services for expatriates overseas. The Bank offers a comprehensive variety of depository, loan/investment and card products to provide virtually for every customer section in Corporate Banking, with growing focus on SME and Retail businesses. NGBL has almost all banking products in its service extent from Student Banking to Corporate Banking to Visa Platinum card. The product basket is amusing in gratified highlighting different brands of Savings and Current Accounts, Personal Loans, Debit Cards, Credit Cards, Corporate Banking, SME Banking, Investment Banking etc. NGBL is optimistic to launch more exclusive visions of financial services to bank the more unbanked peoples of the society, to welcome new resentments and sound healthy wellbeing in the banking business arena.

Dividend:

The Board of Directors has decided to recommend 5% stock dividend for the shareholders for the year 2019. We at all times provide extreme significance to retain a satisfactory equilibrium amongst steadiness of dividend payment and firming up the capital base of the institution. We take a resolution to allocate an appropriate amount of dividend taking place a nearer assessment and compliance with several regulatory state of affairs, organization’s receiving capability and growth projections.

Appreciation:

In the end, with enormous inclination and thankfulness to our persistent provision requisite stakeholders, our eminent customers and ever erudite regulatory body of the country, particularly Bangladesh Bank and with the blessings and learned guidance from the members of the BSEC counterparts of the country. Our efforts for magnanimity and responsibilities towards our unstinting society for prosperous and robust insistent progress.

I am also ever grateful to our very compassionate Board of Directors for their very decent and persistent sustenance and my sincere appreciation to my fellow management colleagues under the leadership of Mr. Syed Habib Hasnat, Managing Director for their erudite and magnificent supports with persistent pledge and accomplishments for NGBL’s prosperous story. The respite firm accountabilities and the resilient confidence to go onward together. I belief the promptness, pledge and services of NGBL will be persistent under the strong leadership of the Board of Directors which will facilitate the better services for all and warrant a viable profit and growth of the bank which will supernumerary the country’s economic development on top. Let’s make a slogan – “Serve better for all forever to foster economic growth”.

Sincerely,

Sd/-
Nizam Chowdhury
Chairman, Board of Director