BRAC Bank’s SME funds under management surpass Tk 56,000cr

BRAC Bank has achieved a major milestone by surpassing BDT 56,000 crore in SME Funds Under Management (FUM), reinforcing its position as a leading bank in SME banking.

The ceremony attended by Meheriar M Hasan, Chairperson; Tareq Refat Ullah Khan, Managing Director and CEO; Syed Abdul Momen, Additional Managing Director and Head of SME Banking; members of the Management Committee; and senior leaders from across the SME Banking Division, says a press release. 

SME Funds under Management comprise the division's total customer deposits and outstanding loan portfolio. The milestone includes BDT 21,000 crore in customer deposits and BDT 35,000 crore in SME loans, reflecting the continued confidence of entrepreneurs in bank's relationship-led banking model.

The achievement is the culmination of a 25-year journey of pioneering SME banking in Bangladesh. Since its inception, BRAC Bank has disbursed more than BDT 2 lakh crore in loans to over 2 million CMSMEs, with approximately 85% of financing provided without collateral. The bank's extensive distribution network of 446 SME Unit Offices, digital customer onboarding, and digital banking platform ‘Astha’ have significantly strengthened customer access to financing while accelerating deposit mobilisation across the country.

Speaking at the event, Tareq Refat Ullah Khan noted that BRAC Bank is the only bank in Bangladesh with a truly diversified portfolio - each of its three business segments, SME, Corporate, and Retail Banking, now holds a portfolio of over BDT 50,000 crore individually.