Foreign remittance process, performance and challenges of Southeast Bank Limited

Abstract

Southeast Bank Limited formed under Companies Act, 1994 on the 12th of March, 1995, is a leading private commercial Bank. It is providing a comprehensive and competitive banking service to its clients through its countrywide network of 115 branches. SEBL began its operation at the main branch with three of its core departments, namely General Banking, Advances and Foreign Exchange. Its growth and increase in profit is impressive. It operates with a motto that it is 'A bank with vision'. Its product portfolio includes products innovated according to the needs and preferences of its clients, which are beneficent to clients while being profitable for the bank itself. The product-basket encompasses Islamic Banking, Merchant Banking, Dual Currency Visa Credit Card, Visa Travel Card, ATMs, Education Loan Scheme, Double Benefit Scheme, Consumer Loan, Millionaire Deposit Scheme, SME Banking, Corporate Banking, Syndicate Loan, Monthly Savings Scheme, Monthly Income Scheme, Pension Saving Scheme, Wage Earners' Pension Scheme, SMS Banking, Fixed Deposit Receipt (FDR), etc. Additionally, SEBL has traditional credit and foreign trade related services. I have critically reviewed the various foreign remittance activities of Southeast Bank Limited, Mohammadpur Branch throughout my overall study. My critical analysis covers remittance performance, process and challenges in SEBL and have also reviewed the trend analysis of primary data collected from the annual report of SEBL. It also includes a study of the performance of Remittance in Bangladesh and its contribution to the Gross Domestic Product (GDP) of Bangladesh.