Introduction
In order to know about a financial organization like a bank, a person should know all section of the financial organization in times. We intend to provide minimum background and procedural guidelines to examiners responsible for evaluating a bank’s activities.
Definition of the Bank
Bank is defined as a financial institution that collects deposits from various individual and organizations and provides loans to those who need it. But modern banks do not mean only the means of collecting and disbursing money to various entities. Rather it provides various services to various entities which facilitate their business operations.
The functional definition of bank is that “it is a financial institution, which accepts money from its customers as deposit and gives money as loan to the borrowers.” According to a prominent economist R.S. Sayers, “A Bank is an institution whose debts are widely accepted in settlement of other peoples’ debts to each other. Another economist C. Cross defined, “A Bank is financial intermediary-a dealer in loans and debts.”
Overview of Mercantile Bank Limited
MBL in Bangladesh
Banking system occupies an important place in a nation’s economy. Banking institution is indispensable in a modern society and it plays a vital role in the economic development of a country. Against the background of liberalization of economic policies in Bangladesh, Mercantile bank Limited emerged as a new commercial bank to provide efficient banking services with a view to improving the socio-economic development of the country.
The Bank provides a broad range of financial services to its customers and corporate clients. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country.
Historical Background
Mercantile Bank Limited is a scheduled private commercial bank established on May 20, 1999 under