Jamuna Bank reappoints its MD

Mirza Elias Uddin Ahmed has been reappointed as the managing director & CEO of Jamuna Bank Limited for another term of five years.

Elias’s reappointment, approved by the board of directors of the bank, has received a positive nod from the Bangladesh Bank, effective from October 21.

He took over the charge of the bank’s MD & CEO on October 21, 2019, for his first term of three years, said a press release.

During this time, Jamuna Bank has established itself as one of the leading lender banks focused not only on serving urban communities but also on offering access to banking to the entire populace of rural people as a people’s friendly bank.

In the last three years, the bank’s earnings per share (EPS) are Tk 2.22, Tk 2.60 and Tk 3.01 respectively which allowed the bank’s entry into the elite club of few banks besides operating profit of above Tk. 726 crore.

During his tenure as MD, cost to income ratio of bank reduced from 53 percent to 47 percent and annual foreign trade volume increased from Tk 17,200 crore to Tk 25,600 crore (49 percent growth) and investment volume increased from Tk 4,100 crore to Tk 8,100 crore (99 percent growth).

He is also credited for giving special focus to small and microfinance businesses.

Elias started his banking career in 1985 with National Bank Limited. In this span of 37 Years of career, he worked for Prime Bank and Mercantile bank in various important positions, before joining Jamuna Bank as Senior Assistant Vice President in 2001.

A management Master’s from the University of Dhaka, Elias has vast experience in risk management, treasury, foreign exchange and credit business along with its operation and services and finally in corporate compliance and regulatory issues in the banking sector.

He also served as the chairman of Jamuna Bank Capital Management Limited. He is a diplomat associate of the Institute of Bankers, Bangladesh and founder general secretary of Bangladesh Money Market Dealers Association (BAMDA). He was also the chairman of the Technical Committee of Primary Dealers Bangladesh Limited and a member of the Bangladesh Foreign Exchange Dealers’ Association (BAFEDA).

He is also involved in various social activities. Presently, he is also a member secretary of Jamuna Bank Foundation and Chairman of Private Bank Shishu Day Care Centre named “Pushpita Day Care Centre”.