Assignment On

Corporate Social Responsibility of Mercantile Bank Limited

Submitted To:
Tasnima Aziza Lecturer Department of Business Administration Jahangirnagar University

Submitted By:
1. Rizwana Parveen Eva 777 2. Jannat Ara Anika 3. Halima Islam 4. Ferdausi Akter Prema Class ID # 780 Class ID # 791 Class ID #

17th Batch BBA Program Department of Business Administration Jahangirnagar University Savar

Date of Submission: 28.04.2008

MERCANTILE BANK LIMITED

What kind of bank it is:
Mercantile Bank Limited is a scheduled commercial bank in the private sector incorporated in Bangladesh under the Banking Companies Act 1991.

When did it start:

Mercantile Bank Limited started its operation on 2 June, 1999. The bank was established by 30 sponsors. So we can say that the partnership of these 30 sponsors as a joint venture.

Head office and branches:

Mercantile Bank Limited has its head office in Dilkusha Commercial Area at Dhaka. In March 2008, it had 40 branches excluding the head office and about 400 employees including the executive officers.

Board-members:

Mercantile Bank Limited is governed by a 14-member board of directors with a managing director as the chief executive officer.

The corporate social responsibility:

To know about the corporate social responsibilities of Mercantile Bank Limited, we have to know the definition of corporate social responsibility at first. Corporate social responsibility is the concern that business corporations have for the welfare of the society. Mercantile Bank Limited also carries a unique role and responsibilities as a present financial institution in our country. The leading and investing activities of this bank have a profound, long-term impact on the communities they serve. As a consequence the bank willingly embraces its leadership role to be sensitive to the economic well being and development of all segments of the society. As an out growth of this philosophy, the bank has created the Social Responsibility Committee. The guiding principles of this committee are identifying areas of need where the bank can make meaningful and quantifiable differences in improving the lives, well being or economical condition of community residents and so that this bank allocates its resources appropriately with safe and sound banking practice to achieve the goals of the social responsibility guiding principles. With this realization, Mercantile Bank Limited developed the social responsibility objectives to increase competency in individual and household financial management.

Responsibility towards customers of this bank:

The environment of Mercantile Bank Limited is very charming and favorable to the customers of this bank. It provides hundred percent securities of the public property and deposited money. It always tries to serve its best to its customers through offering various schemes and performing daily activities. So people get interested in depositing money here. Giving loan is one of its popular activities. It gives loans for different purposes such as higher education, home making, car buying, traveling, and treatment in abroad etc. It also has minimized the rate of interest so that people can take loan to improve their condition and this will help to improve our society gradually.

Responsibility towards society of this bank:

Mercantile Bank Limited, a private commercial bank not only runs the institution for its own profit, but also keeps contribution in the development of our society. So that we can lead a happy and prosperous life in this society. It sponsors so many events such as sports, news, trade fairs etc. at many times. These kinds of events just do improvement in our life and society. This bank creates employment in the society. This decreases the rate of unemployment. So people can lead a better life and it increases the standard of living in the society. At the time of natural calamities, this bank creates funds for the victim areas and people so that they can recover their

losses easily. It also does some social activities like road cleaning, tree planting, beautifying the city by making monuments and artificial creatures etc.

Responsibility towards employees of this bank:

Mercantile Bank Limited tries to make sure a better livelihood for its employees. So it gives employees reasonable salary provides various facilities, motivates them for their good or bad works by rewarding or punishing them. It arranges various cultural programs, award or scholarship giving ceremony for its employees. These activities encourage employees to work with their full efficiency so that they can serve the customers their best.

Responsibility towards investors of this bank:

Mercantile Bank Limited creates a great effect on the investors. Investors mean the entrepreneurs who deposit their big amount of money for long-term to invest in business firms. They take the risks and get the interest of the investing money. The bank takes the responsibility of providing security of the money and gives back the money whenever they need it. In the middle of this long period it invests the money for the development of the country by organizing business firms or making high-rise buildings. In this way it earns a large amount of interest and also gives a part of it to the investors. Thus it performs responsibilities to the investors and country.

Conclusion:

Mercantile Bank Limited emerged as a new schedule of commercial banks to provide efficient banking services and contribute to socio-economic development of the country. It provides a broad range of financial services to its customers and clients and performs a great responsibility to the society and the country.

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