Premier Bank has established a brand that incorporates trust, innovation and exceptional customer service over its 25 years in business, said Mohammad Abu Jafar, managing director and chief executive officer of the private commercial lender.

“As we begin a new chapter, we aim to maintain our position as the ‘bank of choice’ for people,” Jafar said in an interview with the Daily Star to mark the bank’s silver jubilee yesterday.

While sharing his views on the bank’s journey, he highlighted some milestones achieved over the years including introduction of real-time online banking, launch of Islamic banking services, development of Premier network Agent Banking and the innovative smart banking app “pmoney”. “.

He said the bank was now looking to double its business and market share in the coming years. “We plan to increase our loan portfolio to between Tk 60,000 and Tk 80,000 crore over the next five years, with a special focus on agriculture and SMEs.”

Jafar said its main strengths lie in its strong brand equity, experienced board of directors and competent workforce.

“With a comprehensive network of branches, sub-branches, agent banking outlets and a competitive product portfolio, Premier Bank is well placed to lead the market,” he added.

And to achieve this, the CEO has identified resilience, technological innovation and a customer-centric approach as central elements of his strategic plan.

While distinguishing the bank’s credit portfolio from that of its market peers, he said a distinctive aspect of its loan portfolio is its diversity across various sectors, such as readymade, small and medium-sized enterprises (SMEs), agriculture and housing.

In line with national financial inclusion goals, Premier Bank has actively expanded its reach to rural and underserved areas through banking agents and sub-branches, thereby attracting more people into the formal financial system, Jafar added.

He said the commercial lender devotes more than 25 percent of its loan portfolio to supporting small and medium-sized businesses, which are crucial to the country’s economic development.

The bank has a clear plan to increase that share to 50 percent over the next three to five years, with a particular focus on women entrepreneurs and underserved markets, he said.

The CEO said Premier Bank’s growth strategy is to expand its presence in underserved regions and focus on digital capabilities to meet changing customer needs.

In the area of ​​digital banking, the bank launched its mobile application ‘pmoney’, which allows customers to access banking services 24 hours a day, he said.

Jafar said the bank is continually investing in its digital infrastructure to improve both convenience and security.

Recent innovations such as the Premier Bank Quick Account and the Green PIN service underline their desire to make banking simpler and more accessible, he added.

Furthermore, the introduction of exclusive credit cards such as Visa Signature and MasterCard World demonstrates their commitment to meeting the needs of their elite customers, he said.

“We plan to introduce more innovative services, such as AI-based customer support, enhanced digital payments and wider access through mobile and internet banking.”

The bank currently operates 136 branches, 67 sub-branches and 195 agent banking outlets across Bangladesh.

Serving a customer base of 2 million people, the bank has established over 350 service touch points across the country to ensure complete access to banking services.

Speaking on the challenges currently facing the banking sector, he identified rising inflation and currency volatility, which could lead to a rise in non-performing loans.

“Robust risk management practices, diversified portfolios and technology investments will be key to meeting these challenges,” he said, arguing for rigorous assessments before lending and improved monitoring systems to quickly identify potential risks.

He said that as the banking industry evolves, trust remains a major concern. Maintaining transparency, strengthening risk management and improving customer service are essential to regaining public trust.

“Premier Bank’s commitment to integrity and customer focus aims to foster long-term relationships based on trust.”

Jafar said they are also committed to corporate social responsibility, focusing on education, healthcare and disaster relief initiatives.

He also highlighted the bank’s recent donation of Tk 1 crore to help flood victims in the northeastern region of Bangladesh.

Premier Bank started its journey in 1999 under the leadership of Dr. HBM Iqbal with an aim to contribute significantly to the sustainable development of Bangladesh.