Brac Bank introduces sub-branches to widen its distribution channel

Brac Bank Ltd has introduced a new distribution channel – sub-branch – to take best-in-class banking services to customers' doorsteps across the country.

The new banking channel went into operations on Wednesday (1 June) with the inauguration of five sub-branches at different locations in the country simultaneously. 

Selim RF Hussain, managing director and CEO, Brac Bank, formally inaugurated the sub-branch at Tejgaon in Dhaka Wednesday, reads a press release.

Deputy Managing Directors, Head of Branches, Regional Heads and senior officials were also present.

The bank's sub-branches were also opened at Nikunja in Dhaka, Shibu Market in Narayanganj, Takerhat in Madaripur and Shariatpur on the same day.

On this occasion, Selim RF Hussain said, "sub-branch is as part of our multi-channel strategy to reach out to more people and cover more demography. The bank is strongly committed to financial inclusion of the people by widening its network in semi-urban and rural areas."  

"This new distribution channel will bring the unbanked segment of the people under a formal financial umbrella. As we take world-class banking right at their doorsteps, it will invigorate the rural and semi-urban economies. We will rapidly expand the sub-branch network throughout the country in coming days and emerge as the leader in this particular segment," he added.

Brac Bank has started sub-branch operations as per the licence issued by Bangladesh Bank. The sub-branches will operate under nearest branch.    

At sub-branches, the customers will receive all banking services, including account opening, cash deposit and withdrawal, deposit pension scheme, fund transfer to any bank by using EFTN and RTGS, remittance service, utility bill, credit card, student file, consumer loan, debit card and cheque book processing, Astha App enrollment, school banking, savings instruments and many more.

However, sub-branches will not have foreign exchange services.

Brac Bank's most modern services will bring a new opportunity for business and individual customers in the neighbourhood. As the bank moves to new locations, it promises best-in-the-class services and an excellent customer experience.