Corporate social responsibility (CSR) differs from place to place, industry to industry and over time. We are a bank that works hard to help our customers and communities to thrive. When they succeed, so do we. We have demonstrated that belief throughout our 14 years history of providing for our customers, employing a strong and diverse workforce, and helping our communities to find solutions for social, economic, and environmental issues.
Corporate Social Responsibility (CSR) has permeated management practice and theory up to a point where CSR can be referred to as the latest management fad.
As an organization, we’ve certainly changed over the past 13 years, but our commitment to social responsibility and corporate citizenship has not faltered; in fact, it’s only strengthened. It is part of our Vision & Values and it’s how we do business every day.
The Premier Bank since its inception in 1999 had adopted the policy of contributing to the social cause. It has been continuing its effort during the last 14 years as a pioneer in the banking sector. Be it education, charity, games & sports, environment, science, health care or talent development, The Bank’s social commitment was felt everywhere.
The Premier Bank Ltd. approaches corporate social responsibility in five discerning dimensions:
- Economic responsibility – to earn profit for owners
- Legal responsibility – to comply with the law (society’s codification of right and wrong)
- Ethical responsibility – not acting just for profit but doing what is right, just and fair
- Voluntary and philanthropic – promoting human welfare and goodwill
- Being a good corporate citizen : contributing to the community and the quality of life
Economic responsibility – to earn profit for owners
We want to create more values for our shareholders with a good return on their investment and are committed to protect their long long-term interest. We are aware to maintain our financials and ratios strong and better than industry standard. Our dividend history gives an account of our commitment to our shareholders. We have paid striking stock dividend during the last several years. Amidst challenging scenario in 2012, we are pleased to announce 10 percent dividend in stock. To ensure sound & steady growth, the Bank is intend to explore unexplored opportunities and well-set to seize every opportunity in the coming years.
Legal responsibility – to comply with the Laws, Rules and Regulations:
We want to be the model Bank of compliance that is respected and adored by our Regulators and by our peers in the banking sector. The Bank complies with all regulatory requirements in all its operations. Bank conducts its business within a well-framed control supported by bundle of policy statements, written procedures & manuals. The Bank ensure Corporate Governance practices at all levels which enables it to establish professionalism together with trust and confidence among the interested parties, builds capacity to operate business efficiency and creates a congenial working environment inevitable to meet the challenges of the present competitive business arena. Financial information is prepared as per financial accounting policies in line with the International Financial Reporting Standard and best financial reporting practices in the country. Public disclosure policy of material information has been adopted in accordance with the requirement as set out in legislation and in the rules and regulations of SEC, DSE and other applicable laws. Centralized Core Banking Software has been adopted to ensure strong risk management framework and better internal control. Any malpractice, misconduct, fraud and unethical behavior are seriously dealt with a clear adherence to laws, rules and regulations.
Ethical Responsibility – not acting just for profit but doing what is right, just and fair
We want to ensure high level of transparency and accountability in all our business transactions. Ethical responsibility at every stage is significant to carry out our duties. Our solemn promise is to transact banking business in a confidential & professional manner. We respect the views and opinions of others; their dignity. We seek mutual benefit in all human transactions.
Being a good corporate citizen: contributing to the community and the quality of life
The Premier Bank Ltd. does not believe in making profit for itself only. Our goal is to build the nation while we make profit through banking business. We believe that instead of just being a nation that buying what is made overseas, we can make things in Bangladesh, we can make best financial products and sell them around the globe. We are striving to elevate the quality of life by making effective contribution to national development. The Bank deducts income tax, VAT and excise duty at source to deposit in the government revenue fund. We are going green to protect our planet from environmental hazards. We are eager to inspire Eco-friendly investment. We have created congenial atmosphere where people are happy and satisfied to work and can build a banking relationship with utmost confidence. It is a privilege to create a perpetual bond among the members of Premier Bank family by a comprehensive exposure to personal interaction and introduction. We care for the feelings, needs and experience of the society and share our interests equally. We try hard to ensure a better society and a more prosperous Bangladesh.
Voluntary and philanthropic
In 2012, we contributed Taka 34.58 million through our donations and charities program, primarily directed towards health care, social welfare, supporting educational institutions, research studies, sports development to ensure that the less privileged among us are put on the path to a more secure future.
Support for medical treatment
Health is one of the prime parameters to achieve millennium development goal (MDG). The need for health care is increasing everyday due to rapid growth of population. The Premier Bank Ltd. has identified health care as a priority sector and helped create better health care facilities. During the year 2012 the Bank provided financial support to the peoples for medical treatment:
Tk. 1,000,000/- to Mr. Munibur Rahman for treatment of cancer disease.
- Tk. 300,000/- to Mr. AbulMostakim for treatment.
- Tk. 10,000/- to Mr. Habibur Rahman freedom Fighter for treatment.
Donated Tk. 100,000/- to Dhaka Shishu (Children) Hospital for infrastructure development.
Distribution of Warm Clothes among the winter hit poor people
Bank always stands beside the distressed people to wipe up their wailing tears. Premier Bank distributed warm clothes worth Tk. 91.00 lac among the poor people in the country to assuage their sufferings from cold wave in winter – 2012.
Contribution in Disaster Management
The tragedy at Ramu Chittagong, ‘unprecedented’ and naked attacks on the Buddhist temples. The Bank extended a donation for Tk. 2.00 Crore to Prime Minister Relief Fund.
Contribution for construction/renovation of Mosque & Madrasa and other to religious programs
Tk. 50,000/- to Mosjid e GausulAzam complex, Mohakhali, Dhaka
- Tk. 25,000/- to Niketon welfare society, Dhaka
- Tk. 50,000/- to GaluaIslamiaDakhilMadrasha
Education Support Programme
Taking education as a tool for social change, The Premier Bank has continued funding educational programme that enhance the leadership and career development skills. During the year 2012 the Bank provided financial support to the following educational institutes:
- Tk. 120,000/- to Rajanpur Degree College
- Tk. 100,000/- to G. K. High school
- Tk. 120,000/- to Rajapur Pilot High School
- Tk. 100,000/- to Pingri High School
- Tk. 100,000/- to Shaheed Raja Degree College
- Tk. 140,000/- to KashemiaDaliliaYatimkhana
Contribution to sports sector
At Encouraging Sports, we believe that it is about a lot more than winning! We believe competition can teach lessons valuable for life. The leagues and classes offered are developed to encourage effort, attitude and relationships. During the year 2012 the Bank provided financial support to the following:
- Tk. 1,700,000/- to Bangladesh Football Federation for Champions League 2011
- Tk. 120,000/- to Bangladesh Football Federation for Branding and Installation of Champions League.
Donation on account of miscellaneous purposes
1. Bangladesh Association of Banks again came forward with a plan of long time financial assistance for the bereaved family members of BDR Tragedy. The Meeting decided that all member Banks of BAB will make a donation of Taka 40,000/- per month totaling Taka 480,000/- per annum to every bereaved family. This donation will continue for the next 10 (ten) years. In this connection Bank donated Taka 480,000/- (Taka four lac eighty thousand only) to Ms. Sonia Hasan wife of Late Mej. Md. Hassan in the year under review.
2. Bank has donated Tk. 100,000/- to Association of Bankers for Bangladesh Banno PraniSeba
3. Tk. 150,000/- donated for sponsoring of PDF summer challenge 2012
4. Contributed Tk. 100,000/- to Bangladesh Obsor Board.