National Credit and Commerce Bank
A Bangladeshi private commercial bank that began as an investment company and became a scheduled bank in 1993.
Last updated August 25, 2026
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Overview
National Credit and Commerce Bank, commonly known as NCC Bank, is a private commercial banking institution in Bangladesh. The organization was established in 1985 under the name National Credit Limited, initially operating as an investment company rather than a scheduled bank. After receiving permission from Bangladesh Bank in 1993, it converted into a scheduled commercial bank and began banking operations with paid-up capital of Tk. 390 million. The bank's development reflects the broader institutional transition of Bangladesh's private banking sector during the late twentieth century. Its principal business is commercial banking in the Bangladeshi market, serving customers through conventional banking activities and remittance-related services. Public reference material identifies NCC Bank as a Bangladeshi private commercial bank but does not provide a complete current breakdown of its branch network, product architecture, market share, or international operations. NCC Bank has experienced multiple changes in board leadership and executive management. Tofazzal Hossain became chairman in 2008. Md Nurun Newaz Salim was elected chairman in 2017 and re-elected in 2019, while Md Abul Bashar became chairman in 2021. Alhaj Md. Nurun Newaz was elected chairman in October 2024. The managing director and chief executive position has also changed over time: Mosleh Uddin Ahmed was appointed in 2017, Mohammad Mamdudur Rashid took the role in December 2020, and the cited reference identifies M. Shamsul Arefin as the current managing director and chief executive officer. The bank has also dealt with governance, operational-security, and compliance-related events. In 2015, a bank employee was arrested in connection with the alleged embezzlement of BDT 89.8 million from remittance funds. In 2019, a Bangladesh Financial Intelligence Unit investigation reportedly identified unusual deposits associated with the then managing director, prompting the board to seek an explanation. The same year, NCC Bank was among Bangladeshi banks targeted in cyberattacks; reports stated that NCC Bank and Prime Bank did not report financial losses, while Dutch-Bangla Bank was reported to have lost funds. These events are relevant to the bank's risk and governance history, although the supplied material does not establish final judicial or regulatory outcomes for every matter. In 2022, NCC Bank approved a BDT 5 billion bond intended to support its Tier 2 capital requirements under the Basel III framework. This decision indicates a focus on strengthening regulatory capital and maintaining the balance-sheet capacity expected of a modern commercial bank. The available reference material does not provide sufficient evidence to state the bond's final issuance terms, investors, maturity, coupon, or subsequent performance. Overall, NCC Bank remains an active Bangladesh-focused private bank whose history combines institutional conversion, management succession, conventional commercial banking, capital planning, and periodic governance and cybersecurity scrutiny.
History
National Credit and Commerce Bank originated in 1985 as National Credit Limited, an investment company in Bangladesh. Its initial structure was therefore different from that of a scheduled commercial bank. In 1993, the organization received permission from Bangladesh Bank to operate as a scheduled commercial bank. It began banking operations with paid-up capital of Tk. 390 million, entering Bangladesh's expanding private-sector banking market. Following its conversion, NCC Bank developed as a Bangladesh-focused private commercial institution. The supplied reference material characterizes it as a private commercial bank but does not give a complete chronology of branch openings, technology deployments, product launches, acquisitions, or overseas subsidiaries. Its documented business scope includes conventional commercial banking and remittance-related activity, while the bank's broader customer base can reasonably be described as including retail, business, and corporate users of banking services. Governance has changed repeatedly over the bank's later history. Tofazzal Hossain was elected chairman in June 2008. In August 2017, Mosleh Uddin Ahmed became managing director and chief executive officer, and Md Nurun Newaz Salim, who was associated with Electro Mart Limited and Central Insurance Company Limited, was elected chairman. Salim was re-elected chairman in May 2019. Mohammad Mamdudur Rashid became managing director on 30 December 2020. Md Abul Bashar was elected chairman on 5 September 2021, and Alhaj Md. Nurun Newaz was elected chairman in October 2024. A cited Wikipedia reference identifies M. Shamsul Arefin as the present managing director and CEO, although it does not specify the date of his appointment. The institution's history also includes operational and governance controversies. In September 2015, the Rapid Action Battalion arrested a bank employee over alleged embezzlement of BDT 89.8 million from remittance funds. In May 2019, a Bangladesh Financial Intelligence Unit investigation reportedly found abnormal deposits connected with managing director Mosleh Uddin Ahmed. The board decided to discuss the matter and requested an explanation. The available source does not establish the final outcome of that inquiry, so the event should be treated as a reported compliance and governance issue rather than a confirmed final finding of wrongdoing. NCC Bank was also one of three Bangladeshi banks reported to have been targeted by cyberattacks in May 2019. The supplied account says Dutch-Bangla Bank lost approximately USD 3 million, whereas NCC Bank and Prime Bank stated that they did not suffer financial losses. This episode places NCC Bank within the cybersecurity risks affecting the country's financial sector, but the reference does not provide technical details about the attack or subsequent remediation. In August 2022, NCC Bank approved a BDT 5 billion bond designed to help meet Tier 2 capital requirements under the Basel III framework. The decision represented a capital-management measure intended to support regulatory capital adequacy. No source supplied here confirms the final issue date, pricing, maturity, subscription, or balance-sheet effect of the bond. The documented record therefore presents NCC Bank as an active Bangladeshi private bank shaped by its 1985 investment-company origin, 1993 banking conversion, recurring leadership transitions, compliance and operational-risk events, and efforts to strengthen capital under modern prudential standards.
- 2024
Alhaj Md. Nurun Newaz elected chairman
[1]Alhaj Md. Nurun Newaz was elected chairman in October 2024.
- 2022
BDT 5 billion Basel III bond approved
[1]NCC Bank approved a bond intended to support Tier 2 capital requirements under Basel III.
- 2021
Md Abul Bashar elected chairman
[1]Md Abul Bashar was elected chairman on 5 September 2021.
- 2020
Mohammad Mamdudur Rashid appointed managing director
[1]Mohammad Mamdudur Rashid took the managing director position on 30 December 2020.
- 2019
Compliance inquiry and cyberattack reports
[1]A financial-intelligence inquiry concerning unusual deposits involving the managing director was reported, and NCC Bank was identified as one of several banks targeted in cyberattacks.
- 2017
New chairman and managing director appointed
[1]Mosleh Uddin Ahmed became managing director and CEO, while Md Nurun Newaz Salim became chairman.
- 2015
Employee arrested in remittance embezzlement case
[1]A bank employee was arrested over alleged embezzlement of BDT 89.8 million from remittance funds.
- 2008
Tofazzal Hossain elected chairman
[1]Tofazzal Hossain was elected chairman of NCC Bank in June 2008.
- 1993
Converted into a scheduled commercial bank
[1]After receiving permission from Bangladesh Bank, the organization became a scheduled commercial bank and started with paid-up capital of Tk. 390 million.
- 1985
Established as National Credit Limited
[1]The organization was founded as National Credit Limited, an investment company in Bangladesh.
Products and positioning
A Bangladesh-focused private commercial bank serving retail, business, and corporate customers through conventional banking and related financial services.
Retail and commercial banking
Deposit accounts
NCC Bank operates as a commercial bank and therefore provides deposit-taking and account services for customers in Bangladesh. The supplied reference does not identify individual account names, rates, eligibility rules, or channel features.
Business banking
Commercial lending
Commercial lending is part of the bank's role as a private commercial institution, supporting business and corporate financing needs. Specific loan programs, sectors, limits, and pricing are not documented in the supplied material.
Payments and remittances
Remittance services
The bank has handled remittance-related activity in Bangladesh. Remittance operations are documented in connection with a 2015 alleged embezzlement case, but the reference does not provide a current description of channels, correspondent partners, or fees.
Corporate financial services
Corporate banking
NCC Bank's commercial-bank status implies services for corporate and institutional customers, including business accounts, financing, and transaction support. The supplied sources do not specify named corporate products or sector specializations.
Controversies
2019
Financial-intelligence inquiry into abnormal deposits
The Bangladesh Financial Intelligence Unit reportedly identified abnormal deposits involving managing director Mosleh Uddin Ahmed. The board sought an explanation; no final outcome is provided in the supplied material.
2015
Alleged remittance-fund embezzlement
A Rapid Action Battalion arrest involved an NCC Bank employee accused in connection with the alleged embezzlement of BDT 89.8 million from remittance funds. The supplied reference does not state the final legal disposition.
Brand decisions
2022
Approve Tier 2 capital bondStrategyBackground
The bank needed to support its Tier 2 capital position under the Basel III regulatory framework.
Action taken
NCC Bank approved issuance of a BDT 5 billion bond.
Aftermath
The supplied material does not confirm the final issuance terms, subscription, or effect on the bank's capital ratios.
Proposed bond size. BDT 5 billion approved (August 2022)
Sources1 sources
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