In recognition of their outstanding performance based on the strong capital, sound asset quality, efficient management, laudable earnings, sufficient liquidity and sensitivity of the market-CAMELS rating, nine of the country’s leading commercial banks are set to receive the prestigious Daily Industry Best Rated Bank Award 2024 today. This accolade highlights their excellence across various critical financial parameters, including capital adequacy, asset quality, management, earnings, liquidity, and market risk sensitivity.
The banks selected for this distinguished award include Shahjalal Islami Bank PLC, Exim Bank PLC, Prime Bank PLC, BRAC Bank PLC, Pubali Bank PLC, Mercantile Bank PLC, The City Bank PLC, Mutual Trust Bank PLC, and SBAC Bank PLC. These institutions have demonstrated outstanding performance, reflecting their strong financial health and effective management in the face of dynamic market challenges.
The award ceremony will take place at 3:30 PM today at The Daily Industry Office, located at Sheba-Nurjahan Eyecon Center, 60 Purana Paltan (4th Floor), Dhaka. Dr. Enayet Karim, Editor of The Daily Industry, will preside over the event, which will feature former Foreign Adviser to the Caretaker Government, Dr. Iftekhar Ahmed Chowdhury as the Chief Guest. In addition to the award presentation,
the event will feature a Pitha Utshab (traditional Bengali cake festival), celebrating the cultural heritage of the region.
The CAMELS rating, which serves as the foundation for this award, is a comprehensive assessment system used to evaluate the financial health of banks. This system examines six key components: Capital, Asset Quality, Management, Earnings, Liquidity, and Sensitivity to Market Risk. The ratings are based on the banks’ performance as of June 2024 and provide an in-depth understanding of their strengths and areas for improvement.
The purpose of the CAMELS rating is not only to gauge the overall condition of a bank but also to identify areas where improvements may be needed, thereby fostering a more stable and resilient banking sector. With this recognition, the award winners have demonstrated their commitment to maintaining financial soundness and contributing to the stability of the nation’s banking industry.
