The global economy, in the 2002, had no respite from the repercussion of the economic slowdown that started in late 2000 with a growth of only 1.7%. The major reason for this has been the structural imbalances in the two leading economics, the US and Japan, with weak recovery in the former and stagnation in the latter. The USA and Japan together account for 4.7% of global GDP and 20% of export and 25% of import. Both the economics are now undergoing almost nil GDP growth, high unemployment and decline in their share of world trade. The situation is further exacerbated by the recession in the EU, another dominant player in the world economy.
The Bangladesh economy marked a GDP growth of 4.8% in FY 2001-02 compared to 5.3% in the previous financial year. Agricultural sector contributed 25% of total GDP with a growth of 2.8% as against 3.1% in 2000-01. Industrial sector saw relatively higher growth in power, energy, water and small enterprise than in large and medium industries reflecting weakening exports. Services sector also registered as satisfactory considering an average global economic growth of 1.7% although upward inflationary pressure implies a lower real growth. In recent months Bangladesh receiving indication for substantial amount of Foreign Direct Investment, and the country received a net amount of US$ 505.45 million as foreign investment during the FY04 registering a 5% annual growth over the previous year.
Objective of the Study
To know the financial performance of Bank Asia Limited.
To evaluate their strength and weaknesses regarding banking sector.
To justify their way of banking in our economy.
To overview the whole operation at a glance.
To compare the Bank Asia Limited with some private commercial banks.
To illustrate banks liquidity and capital reservation with special reference to the annual report.
To clarify the disbursement, advances and classified loans.
To know the contribution of GDP towards Bangladesh economy.
To state the major drawbacks and the way of improvement.
To know the proper utilization of resources those are available in our economy.
Scope of the Study:
Worldwide economic situation continued to pose adverse impact on most developing countries including Bangladesh challenging the possibility of registering a positive growth in the year 2002. A wide variety of business, industries and sectors constitutes the advance portfolio, major sectors where the Bank Asia have entered in particular, Textile and ready made garments, Edible oil, telecom, media and technology, Shipping, ship breaking, steel and engineering etc.
Bank Asia Limited it is a well known private commercial bank in the banking sector and doing formidable job. So far researcher has a very specific scope to overview the whole system. The banking sector continued to make remarkable profit in the 2002. Especially the 31 private banks recorded a profit before tax Tk. 1445.50 corer with a growth of 6.56% over the previous years Tk. 1356.38 corer.
1.4 Methodology of the Study
Data Sources and referred are both primary and secondary in nature. The required primary data were collected by personal interviews. The sources of secondary data are published articles and periodical and annual report of Bank Asia, daily newspapers etc.
1.5 Data sources.
Collections of facts (underdone facts) generally treated as data. There are two types of data viz.
v Primary Data
v Secondary Data
Primary Data
The primary data are those which are collected a fresh and for the first time and thus happen to be original in character.
Sources of primary data
Conducting survey and personal interview method through questionnaire.
Secondary Data
The secondary data, on the other hand, are those which have already been collected by some one else and which have already been passed through the statistical process.
Sources of Secondary data
Secondary data for this particular study was collected from the Administration Department of Bank Asia Limited, Annual report of Bank Asia Limited, Directories and Manuals, Magazines and Periodicals, Bankers Guide and From Web sites.
by Rumana Yasmin
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