Modhumoti Bank Partners RSA Advisory

Modhumoti Bank PLC has entered into a strategic agreement with RSA Advisory Limited to accelerate organisational transformation and expand its footprint in the cottage, micro, small and medium enterprise segment. The agreement was formally signed on Sunday at the bank’s head office in the Gulshan area of Dhaka, according to an official press release.

The signing ceremony was attended by senior leadership from both organisations, underscoring the importance of the collaboration. Mr Md Shafiul Azam, Managing Director and Chief Executive Officer of Modhumoti Bank, signed the agreement on behalf of the bank, while Mr K Mahmood Sattar, Chairman of RSA Advisory Limited and a former Managing Director and Chief Executive Officer of City Bank and Eastern Bank, signed on behalf of his organisation.

Also present at the ceremony were Mr Shahnawaj Chowdhury, Additional Managing Director of Modhumoti Bank; Mr Arab Fazlur Rahman, Deputy Managing Director and Chief Business Officer of the bank; and Mr Selim RF Hossain, Senior Consultant of RSA Advisory Limited and former Managing Director of Brac Bank. Senior officials from both institutions attended, reflecting a shared commitment to the transformation agenda.

Under the terms of the agreement, RSA Advisory Limited will provide comprehensive strategic business advisory services to support the centralisation of banking operations and facilitate business diversification, particularly towards the cottage, micro, small and medium enterprise sector. The initiative is expected to streamline internal processes, improve risk management practices, and enhance customer service delivery through more integrated operational structures.

Centralisation of operations is anticipated to reduce duplication of functions across branches and strengthen governance frameworks. By consolidating core processes and standardising procedures, Modhumoti Bank aims to achieve greater efficiency, faster decision making, and improved compliance oversight.

At the same time, the renewed focus on the cottage, micro, small and medium enterprise segment aligns with national priorities to promote inclusive growth and stimulate employment. By diversifying its portfolio and tailoring financial products to smaller businesses, the bank intends to broaden access to credit and foster sustainable economic activity.

A summary of the agreement is presented below:

Commenting on the partnership, representatives from both sides expressed optimism that the collaboration would position Modhumoti Bank for long term growth and resilience. By combining industry expertise with strategic advisory support, the bank seeks to reinforce its competitive standing within the evolving financial services landscape of Bangladesh.