Report on History and Background of FSBL

History and Background of FSBL

First Security Bank Limited emerged as a new commercial bank to provide efficient banking services and to contribute socio-economic development of the country. The bank commenced its operation August 12, 1999, under the company Act 1994. The bank provides a broad range of financial services to its customers and corporate clients. The Broad of Directors consists of eminent personalities from the realm of commerce and industries in the country.

The company philosophy “A step ahead in time” has been precisely the essence of the legend of Asian success; the bank has been operating with talented and brilliant personnel, equipment with modern technology so as to make it most efficient to meet the challenges of 21st century.

During this short span of time the Bank successful in positioning itself as p progressive and dynamic financial institution in the country. The bank had been widely acclaimed by the business commodity from small businesspersons or entrepreneurs to large traders and industrial conglomerates included the top rated corporate borrowers for providing innovative financing solutions.

The sponsor and director of the bank are a successful group of prominent local and non-resident Bangladesh investor who has earned high credential and excellent reputation in their respective fields of business at home and abroad.

Feature of FSBL:

There are many reasons behind the better performance of First Security Bank Limited than any other newly established banks:

  • The inner environment of all branches is well decorated
  • First Security Bank Limited provides attractive interest rate in deposit scheme, which are the highest among other commercial banks
  • The bank provide loan to the customers at lower interest rate with easy and flexible condition than the other do
  • L/C commissions and other charges are relatively low than otherbanksThe bank has established correspondent relationship with many foreign banks.

Mission of FSBL:

First Security Bank Limited aims to become one of the leading banks in Bangladesh by quality of operations in their banking sector. The bank has some mission to achieve the organizational goals.

These are listed bellow:

  • The bank believes in strong capitalization.
  • It maintains high standard corporate and business ethics.
  • First Security Bank Limited extends highest quality of services, which attracts the customers to choose them first.
  • First Security Bank Limited provides products and services that encourage savings.
  • First Security Bank Limiter’s main business mission is to obtain fine position in the banking sector of Bangladesh as well as internationally.
  • It also emphasizes on a reasonable return from its investment to satisfy the shareholders.

 

Objective and Goals of FSBL:

 

The objectives and the goals of First Security Bank Limited are the following:

  • Their main objective is to maximize profit, which in turn will maximize wealth.
  • First Security Bank Limited is always ready to maintain the highest quality of services by banking technology prudence in management and by applying high standard of business ethics through its established commitment and heritage.
  • First Security Bank Limited is committed to ensure its contribution to national economy by increasing its profitability through professional and disciplined growth strategy for its customer and by creating corporate culture in international banking area.

General Information of FSBL:

First Security Bank Limited was in Bangladesh on 29 August 1999 as a banking company under Companies Act 1994 to carry on banking business. It obtained permission from Bangladesh Bank on 22 September 1999 to commence its business. The main motto of this bank is to provide comparative better and improved modern banking services to its customers.

Nature of Business:

FSBL offers services for all banking needs of the customers, which includes deposit banking, loans and advances, export and import financing, inland international remittance facilities.