Marketing Mix AB Bank Limited

Compensation System of an industrial enterprise in Bangladesh: A case study of AB Bank Limited.

Historical Background of AB Bank

AB Bank Limited, the first private sector bank under a joint venture with Dubai Bank Limited. UAE incorporated in Bangladesh on 31st December 1981 & started its operation with effect from April 12, 1982.

Dubai Bank Limited (name subsequently changed to Union Bank of the Middle east Limited) decided to off-load their investment in AB Bank Limited with a view to concentrating their activities in the UAE in the early part of 1987 & in teams of Articles 23 A & 23B of the Articles of association of the company & with the necessary approval of the relevant authorities, the shares held by them in the Bank were sold & transferred to Group “A” Shareholders, i. e. Bangladesh Sponsor Shareholders. As of December 31, 2006; the authorized capital & the equity (paid-up capital & reserve) of the bank are BDT 2000 million & BDT 2582. 76 million respectively. The sponsor-shareholder holds 50% of the share capital; the General Public Shareholders hold 49. 43% & the rest 0. 57% of shares are held by the Government of the People’s Republic of Bangladesh. However, on individual sponsor shareholder of more then 10% of its total shares.

Since the beginning, the bank acquired the confidence & trust of the public & business houses by rendering high-quality services in different areas of banking operations, professional competence & employment of state of art technology. During the last 27 years, AB Bank Limited has opened 73 Branches in different Business centers of the country, one foreign Branch in Mumbai, India, two Representatives Officer in London & Yangon, Myanmar respectively & also established wholly-owned subsidiary finance. Company in Hong Kong in the name of AB Bank International Finance Limited.

To facilitate cross border trade & payment related services, the Bank has correspondent relationship with over 220 international banks of repute across 58 countries of the world.

Corporate Slogan Of AB Bank Ltd.: First Of Many Firsts

Vision

“To be the trendsetter for innovative banking with excellence & perfection”

Mission

“To be the best performing bank in the country” 1. 5 Change Of Name: Arab Bangladesh Bank Limited changed its name to AB Bank Limited(ABBL) with effect from 14 November 2007 vide Bangladesh Bank BRPD circular letter no. 10 dated 22 November 2007. Prior to that shareholders of the bank approved the change of name in the Extra-Ordinary General Meeting held on 4 September 2007.

Birth Of the Logo

The coat of arms of the new logo is inspired by traditional “Shital pati ” or “Sleeping mat”. The knit and the pattern of interlace in the new logo that echoes the intricate weave of Shital Pati symbolizes bonding. This bonding reflects the new spirit of AB Bank.

Salary Structure of AB Bank Bangladesh Limited

The salary structure of AB Bank mentions to the stage of the employee. Now describe the compensation of AB Bank Bangladesh limited:

• Basic Pay: Basic pay is the root compensation paid to the employee in depends on job responsibilities.
• House Allowance: AB Bank provides 40 to 50 percent house allowance and it depends on the level of employees’ position.
• Medical Allowance: AB Bank provides a medical allowance for every employee.
• Lunch: AB Bank Provide the Lunch for employees 20 to 35 minute.
• Education: AB Bank provides education for employees children who are bright result in school collage and University. Training Hours:
• AB Bank are houner training hours.
• Utility Allowance: AB Bank provides a utility allowance for employees.
• Pay for time not at work of AB Bank Sick Lecve: when an employee falls in sick for that reason an employee does not work that time AB
• Bank are granted the leave without punishment.
• Holidays: holidays are included in his salary for that reason an employee get 100% salary.
• Casual Leave: An employee can take a casual leave 8 days in a year but not hampered in his salary.
• Emergency Leave: AB Bank pays the salary when anybody dies in employee’s family.
• Earn Leave: When an employee’s performance is very well that time bank authority is given reword by the leave that time AB Bank are paid the full salary.
• Other Leave: The AB Bank are declared different kinds of leave that time pay the full salary.
• Maternity Leave: it only for pregnant women who are taking a leave that time moth off with pay. Non Financial compensation of AB
• Bank: nonfinancial compensation means incentives that are provided to employees by AB Bank in the form of indirect pay.