Trust Bank

Trust Bank PLC is a private commercial bank in Bangladesh established in 1999 by the Army Welfare Trust of the Bangladesh Army. The bank operates under the Trust Bank name and serves retail, commercial, and institutional customers through a nationwide delivery network. Its ownership and institutional association with the Army Welfare Trust distinguish it from privately held Bangladeshi banks founded by individual entrepreneurs or commercial conglomerates. The bank’s development has followed the broader modernization of Bangladesh’s banking sector. In 2001, it introduced an automated branch-banking system, replacing more manual operating processes with technology-supported account and transaction management. It added ATM services in 2005 and launched online banking in January 2007. The online-banking rollout enabled customers to deposit or withdraw money at Trust Bank branches across the country without maintaining separate accounts at each branch, an important step toward integrated national branch access. Trust Bank expanded beyond conventional branch and deposit operations during the following decade. It opened a merchant-banking wing in 2009, broadening its activities into capital-markets-related services. The bank has also participated in remittance and payments infrastructure. Trust Axiata Pay, commonly known as TAP, is a money-transfer service owned by Trust Bank, and the bank signed an agreement with Bengal Commercial Bank to facilitate transfers through Ria Money Transfer. TAP has additionally entered into an arrangement with the Canteen Stores Department to process payments. The institution’s physical network has been described as comprising 119 branches, eight sub-branches, and 282 automated teller machines across Bangladesh. This network supports a mix of branch-based banking, electronic access, cash services, and payment activities. Publicly described offerings include standard commercial-banking services, ATM access, online banking, merchant banking, and money-transfer or payment services; a complete current product catalogue is not established by the available reference material. Trust Bank has also maintained a formal corporate-governance structure involving senior Bangladesh Army officers and representatives connected with the Army Welfare Trust. General Waker-Uz-Zaman, the incumbent Chief of Army Staff of Bangladesh, is identified in the reference material as the bank’s chairman. At the bank’s 23rd annual general meeting, held online on 2 August 2022, the meeting was chaired by Vice-Chairman Major General Md Moshfequr Rahman. The bank reported consolidated net profit of 650 million taka for 2020 according to the cited reference material. In 2008, it announced a 10 percent dividend at its ninth annual general meeting; in 2022, its annual general meeting approved a 22.5 dividend for the relevant year, although the available material does not specify the dividend unit or whether the figure refers to a percentage. Trust Bank has remained an active Bangladesh banking brand, but detailed current information on its legal structure, listing status, headquarters, product segmentation, and senior-management roster is not established in the supplied sources.

Trust Bank was established in 1999 by the Army Welfare Trust of the Bangladesh Army as a private commercial bank. Its creation gave the trust an institutional banking vehicle and placed the bank within Bangladesh’s developing private-bank sector. The available reference material does not provide a detailed account of the original licensing process, initial capitalization, or first branch locations. The bank began a technology-led modernization program early in its operating history. In 2001, it introduced an automated branch-banking system. This was followed by the introduction of ATM services in 2005, extending customer access beyond staffed branches. In January 2007, Trust Bank launched online banking. A central feature of the service was nationwide branch interoperability: customers could deposit or withdraw money at any Trust Bank branch without opening multiple accounts at separate branches. Trust Bank faced public allegations in 2008 concerning claims that former chairman Hasan Mashhud Chowdhury had been involved in money laundering through the bank in 2002. In November 2008, the bank denied the allegations attributed to Mahmudur Rahman. The supplied material records the denial but does not establish a regulatory finding, court outcome, or proven wrongdoing. The same year, Trust Bank announced a 10 percent dividend at its ninth annual general meeting. In 2009, the bank opened a merchant-banking wing, expanding its scope beyond conventional deposits, lending, and payment services. Over time, its activities also came to include money transfer and payment infrastructure. Trust Axiata Pay, or TAP, is identified as a money-transfer service owned by Trust Bank. The bank later entered an agreement with Bengal Commercial Bank to facilitate transfers through Ria Money Transfer. TAP also reached an arrangement with the Canteen Stores Department for payment processing. The bank’s reported network grew to 119 branches, eight sub-branches, and 282 ATM booths across Bangladesh. This network reflects a hybrid operating model combining physical distribution with digital and self-service channels. Trust Bank’s publicly described business scope includes retail and commercial banking, ATM and online banking, merchant banking, remittance, and payment processing. For 2020, the available reference material reports consolidated net profit of 650 million taka. On 2 August 2022, Trust Bank held its 23rd annual general meeting online, chaired by Vice-Chairman Major General Md Moshfequr Rahman. The meeting approved a 22.5 dividend for the year, though the available source does not clarify the unit or whether the number represents a percentage. The bank’s chairman is identified as General Waker-Uz-Zaman, the incumbent Chief of Army Staff of Bangladesh. Beyond these points, the supplied sources do not establish a complete current management list, detailed financial history, listing information, or an official current website.

• 2022

  23rd annual general meeting and remittance partnership

  [1]Trust Banken.wikipedia.org

  Trust Bank holds its 23rd annual general meeting online, approves a 22.5 dividend for the year, and signs an agreement involving Ria Money Transfer through Bengal Commercial Bank.

• 2020

  Reported consolidated net profit

  [1]Trust Banken.wikipedia.org

  The bank reports consolidated net profit of 650 million taka for 2020.

• 2009

  Merchant-banking wing opened

  [1]Trust Banken.wikipedia.org

  Trust Bank opens a merchant-banking wing.

• 2008

  Ninth annual general meeting and public allegation denial

  [1]Trust Banken.wikipedia.org

  The bank announces a 10 percent dividend and denies allegations concerning alleged money laundering linked to a former chairman.

• 2007

  Online banking launched

  [1]Trust Banken.wikipedia.org

  Trust Bank launches online banking and enables customers to use branches nationwide without maintaining separate accounts at each branch.

• 2005

  ATM services launched

  [1]Trust Banken.wikipedia.org

  The bank begins offering ATM services to customers.

• 2001

  Automated branch banking introduced

  [1]Trust Banken.wikipedia.org

  Trust Bank introduces an automated branch-banking system.

• 1999

  Trust Bank is established

  [1]Trust Banken.wikipedia.org

  The Army Welfare Trust of the Bangladesh Army establishes Trust Bank Limited as a private commercial bank.

A nationwide Bangladesh private commercial bank combining conventional branch banking with electronic banking, merchant banking, remittance, and payment services, supported by the Army Welfare Trust.

• Banking · 1999

  Retail and commercial banking

  Trust Bank operates as a private commercial bank serving customers through a nationwide branch, sub-branch, ATM, and digital-banking network. The supplied reference material confirms its general commercial-banking role but does not provide a complete list of current deposit, lending, card, or corporate-finance products.

• Digital banking · 2007

  Online banking

  Introduced in January 2007, Trust Bank’s online-banking service supports electronic access to banking relationships. Its launch was associated with nationwide branch access, allowing customers to deposit or withdraw through different Trust Bank branches without opening separate accounts at each location.

• Self-service banking · 2005

  ATM services

  Trust Bank introduced ATM services in 2005. The bank’s described network includes 282 ATM booths across Bangladesh, giving customers access to self-service cash and account functions alongside staffed branches.

• Capital markets · 2009

  Merchant banking

  Trust Bank opened a merchant-banking wing in 2009. The available material identifies the expansion but does not enumerate the wing’s specific advisory, issue-management, underwriting, or investment products.

• Money transfer and payments

  Trust Axiata Pay (TAP)

  Trust Axiata Pay, also known as TAP, is identified as a money-transfer service owned by Trust Bank. TAP has been associated with payment processing for the Canteen Stores Department, while Trust Bank has also supported Ria Money Transfer transactions through an agreement involving Bengal Commercial Bank.

• 2008

  Trust Bank denies alleged money laundering connection

  In November 2008, Trust Bank denied allegations attributed to Mahmudur Rahman that former chairman Hasan Mashhud Chowdhury had been involved in laundering money from the bank in 2002. The supplied reference records the bank’s denial but does not establish a confirmed violation, prosecution, or final judicial outcome.

  Source

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• 2022

  Expansion of remittance and payment connectivityStrategy

  Background

  Trust Bank continued to develop money-transfer and payment-processing relationships through its Trust Axiata Pay service and external banking partners.

  Action taken

  The bank signed an agreement with Bengal Commercial Bank to facilitate money transfers through Ria Money Transfer; TAP also had an agreement with the Canteen Stores Department for payment processing.

  Aftermath

  These arrangements expanded the bank’s role in remittance and institutional payment flows, but the supplied material does not quantify their commercial impact.

  Source

• 2009

  Expansion into merchant bankingStrategy

  Background

  After developing automated, ATM, and online banking capabilities, Trust Bank broadened its business scope beyond conventional commercial banking.

  Action taken

  The bank opened a merchant-banking wing.

  Aftermath

  The move added a capital-markets-related activity to Trust Bank’s banking operations, although the supplied source does not detail subsequent performance.

  Source

• 2007

  Launch of online bankingProduct launch

  Background

  Trust Bank sought to extend branch access and reduce the need for customers to maintain separate accounts at multiple branches.

  Action taken

  The bank introduced online banking and enabled deposits and withdrawals through Trust Bank branches nationwide.

  Aftermath

  The launch formed part of the bank’s broader shift toward integrated, technology-supported banking services.

  Source

• Unconfirmed

  Trust Bank donates materials to Tanka Tanka hospital[2]Trust Bank向Tanka Tanka医院捐赠物资thepoint.gm

  Trust Bank donated sanitary, electrical, and plumbing materials worth D200,000 to Tanka Tanka psychiatric hospital in Mariama Kunda.

1. 1Trust Banken.wikipedia.org
2. 2Trust Bank向Tanka Tanka医院捐赠物资thepoint.gm