3.7 Strategic Decisions of DBBL:
On-Line Banking:
Dutch-Bangla Bank Limited now using locality developed Branch Banking software in almost all its branches. But with a view to provide world class banking facilities to its customer, has undertook upon an ambitious program by investing Tk.250.00 million for acquiring a state-of-the-art total automation project which claimed to said as “Truly On Line Banking”. The decision of acquiring the automation program has been based on the Bank’s own core competence in its IT division, reinforced with the site visit of bank’s highest management of similar installations of different banks in India and SriLanka.
“FLEXCUBE” from “I-flex solution”, a world leader in technology solutions for the financial services industry, which will enable to render a fully automated real time any-where any-branch banking services, covering 24 hours a day and 365 days a year.
As part of the on-line banking program, Internet banking, Nexus Debit Card, Maestro/ cirrus Debit Card and Credit card will also be launched shortly and all preparations regarding this are in final stage.
To fulfill this decision, has set-up a most modern and largest state of the art data centre and have assembled a core group of competent IT professionals and other persons. These persons have undergone a two-month extensive training course in Bangalore and Mumbai, India on FLEXCUBE.
The Data Centre will also have an on-line Disaster Recovery site (DRS), the first of its kind in the country, to safe-guard the customers’ interest and to have an effective disaster management system in place. This will help maintain and preserve all necessary data at a separate and more-safe custody. The scrutiny of’s computer system stands on four (4) layers, which are at application, in networking, in database and in the operating systems.
3.8 Global economic perspective:
The growth of world economy, according to World Bank's study on Global Economic Prospects 2005, has been broadening over the past few years. Real GDP growth of the world is expected to be 3.20% in the year 2005 which is remarkably higher than that of the previous years due to improvements in macroeconomic fundamentals, enhanced structural flexibility, a stronger economic climate and progress toward reducing trade barriers. However, International Monetary Fund (IMF) had forecasted 4.30% growth for 2005.
The economic growth had gained momentum and now well entrenched in most of Asia, which represents a solid starting point for long term growth and in all possibilities would increase the likelihood of the developing countries to meet their Millennium Development Goals. If such favorable environment sustains for long, the developing countries would surely be able to achieve rapid and sustained per capita growth at a level of 3.50% per annum between 2006 and 2015, which would enable them to halve the incidence of extreme poverty by 2015.
Global growth rate slowed down to some extent in the year 2005 and is expected to slide further to 3.20% in the year 2006, mainly due to increase in oil and commodities price. According to Global Economic Prospects 2005, high oil prices have dramatically worsened the poverty of the poorest oil importing countries. These spiraling fuel prices have acted as an impediment to recovery of the world’s economies of some countries which did not fully participate in the global expansion. On the other hand, the high fuel prices acted as a moderating influence, where aggregate demands were already buoyant. The same study also found that in Asia continent, excepting the South East Asia, the service sector registered a big climb. This is not surprising because services are assumed to be income elastic and a relative rise in the share consumption is understood. This effect is reinforced by the relatively high rate of productivity growth in manufacturing. In high growth regions in East Asia and South Asia, where GDP is forecasted to be 5.40% and 6.30% respectively for the year 2005, exists two contrasting scenario. In South Asia the employment in agriculture shifted mostly to services, with a small increase in industrial output. In East Asia, employment in agriculture shifted more evenly between industry and services. However, long-term growth in South Asia is forecasted to average about 5.50% during 2006-2015 as the contribution to growth from the private sector continued to rise.
Reinforces its Turf:
Dutch-Bangla Bank successfully maintained its growth during the year 2005 in terms of business and profitability, with its operating profit registering a growth of 49% over the previous year. The Bank diversified its business in new areas of commercial banking operations, trade finance, working capital finance, term finance etc. Notable among the above was the Bank's equity investment in United Hospital Limited, a state-of-the art hospital in Dhaka, which is expected to go into operation by June this year. The On-line operation of the Bank was increasingly gaining popularity and with the opening of rural branches, modern banking services were now being enjoyed by the valued customers of the Bank in places outside Dhaka and even in the rural areas, where is operating.
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