Awards for Excellence 2020
Prime Bank has barely paused during the Covid-19 crisis. The Dhaka-based bank was an early mover on coronavirus in south Asia, raising awareness of the pandemic among employees as early as January 30.
As the virus took a grip on the region, Prime Bank, under the leadership of managing director and CEO Rahel Ahmed, found new ways to help workers and customers alike. Since the start of the year it has joined forces in Bangladesh with five domestic NGOs, including the Bidyanondo and Jaago foundations, to raise much needed funds for under-pressure communities.
It has shown consistent willingness to be a leader in its home market in the last few turbulent months by promoting awareness of cybersecurity and fraud prevention, and by forming partnerships with hospitals and health centres in a country that struggles to meet the medical needs of its citizens at the best of times.
Employees working from home have been given a free pass to speak – virtually, via Zoom and Webex – with health experts at 25 hospitals nationwide. The bank has also partnered with Praava Health, a network of family health centres located in Dhaka, to extend discounted health services to employees and customers.
Prime Bank has also been at the forefront of a national effort to support companies that drive invaluable export earnings. It has channelled a sizeable portion of a $590 million government stimulus package to customers in the apparel sector.
Under the central bank’s Export Development Fund – itself expanded in size to $5 billion from $3.5 billion during Covid – the lender introduced a new, pre-shipment credit refinance scheme, worth nearly $600 million.