SME Activities of Standard Chartered Bank in Bangladesh
AuthorHasan, Md. Rakibul
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There is a great supportive role of banking system in human society. It plays a vital role for the economic development of a country. The local banking system of Bangladesh is developing their services day by day by following the multinational banks. Standard Chartered Bank is one of multinational bank who is leader and follower of the other local banks. At the same time it brings different modern technology in our banking culture. In Bangladesh Standard Chartered Bank operate the banking operation over the Sixty Two (62) years. In that time it did lots of changes in this sector and it promoted many new ideas in this sector. Standard Chartered Bank is trying to develop economic condition of the country. In the SME, SCB has five different products for their different customer choice. Today this bank provides loan facility TK 10 Lac (BDT 1 million) to TK 15 crore (BDT 150 million) to that small and medium enterprise that has no easy access to banks or financial institutes. In the portfolio of SME, SCB gave loan (BDT 7.5 billion) TK 750 crore in the year of 2011. It is a huge amount of money that SCB providing for their customer in the SME loan. The success of SME will largely depends on the selection of a business and man behind the business. Standard Chartered Bank provides this facility to those whose business operation is minimum one year and environment friendly business. At the same time the business should be legally registered and must have valid trade license. The entrepreneur should be physically able, preferably between the ages 25 to 50. Entrepreneur must have the necessary technical skills to run the business and acceptable social standing in the community. The core competence of the Standard Chartered Bank is to provide the fastest loans to the customers in this country. To retain this competitive advantage Standard Chartered Bank would provide latest facilities whether they can give fastest services to clients than other banks. Regarding the services by the Relationship Officer (RO) or sales executive, almost all clients are satisfied by get these quick facilities from them. In the survey it is found that most of the clients give a suggestion to decrease the interest rate and loan processing fees. So, personally I think SCB management look after this things from the view point of customer and the competitor banks. By this way the Bank will be able to keep on playing its important roles in our economy.