BRAC Bank Limited has won “Best Bank for SMEs” Award from Asiamoney Magazine.

The Hong Kong-based media outfit has conferred the prestigious award to a bank that has pioneered SME financing in Bangladesh. BRAC Bank is now the largest financier of collateral free SME loans in the country. With its unique network of SME Unit Offices, the bank has taken small ticket loans to the doorsteps of the small and medium entrepreneurs across the country. Over the years, BRAC Bank has become synonymous with SME financing.

Mr. Chowdhury Akhtar Asif, Deputy Managing Director & CRO, and Mr. Syed Abdul Momen, Head of SME Banking, formally received the award at the “Asiamoney Country Awards 2017”, held at The Ritz-Carlton Hotel in Beijing on September 26, 2017.

In the award citation, Asiamoney noted that under the stewardship of the Managing Director & CEO Selim R. F. Hussain, BRAC Bank has further sharpened its attention on SMEs, increasing its share of overall lending to smaller enterprises to 39% of the total loan book at the end of 2016, up from 34% a year earlier. BRAC Bank has clearly stated its intent on becoming the best overall lender in Bangladesh in the medium term and is also distinctly focused on cementing its place as the country’s most committed and leading SME lender.

Upon receiving this international award, BRAC Bank’s Managing Director & CEO, Mr. Selim R. F. Hussain said that the bank’s unique SME network, business-oriented products and passionate employees have all been instrumental to winning the recognition. BRAC Bank’s SME Banking cuts across cottage, small, medium and emerging business segments with customized solutions. With its network of 448 SME Unit Offices and dedicated CROs and RMs, the bank takes financing solutions to the doorsteps of the SME entrepreneurs in rural and semi-urban Bangladesh. He added that the award will truly inspire the bank to take SME financing to newer heights.

Mr. Hussain concluded by reiterating the fact that BRAC Bank will continue its march towards its ultimate goal of becoming the best bank of the country.