Midland Bank

What Midland Bank does

Midland Bank PLC is a fourth-generation private commercial bank in Bangladesh, incorporated on March 20, 2013, and publicly listed on the Dhaka Stock Exchange under the ticker MDB. The bank operates from its headquarters in Gulshan-2, Dhaka, with a network of branches and sub-branches complemented by 142 agent banking centers spanning 30 districts and 81 upazilas. It is led by Chairman Ahsan Khan Chowdhury (Chairman & CEO of PRAN-RFL Group) and, as of February 26, 2026, by Managing Director & CEO Imtiaz U. Ahmed.

Midland Bank's core business spans retail banking (savings, DPS, fixed deposits, personal/home/auto/bike loans, credit/debit/prepaid cards), SME financing, institutional/corporate banking, treasury services (money market, FX, government securities), and a Shariah-compliant Islamic banking window branded Saalam. Distribution combines physical branches and 142 agent banking centers with digital channels — Midland Online (internet banking), mobile banking apps (iOS/Android), MDB Jhotpot for instant digital account opening, and AChallan for automated government fee collection — supported by Tier-4 cloud infrastructure via Axentec PLC and integrations with SWIFT, BACH, BEFTN, Nagad, and Mastercard.

The bank's revenue model is anchored in interest income from its diversified loan book (personal, home, car, bike, SME, institutional), supplemented by fee and commission income, foreign exchange income (including NRB remittance), and bancassurance commissions from partnerships with Desh General Insurance, Pragati Insurance, and MetLife Bangladesh. Midland raised $5 million from Aavishkaar Capital (via the ESG First Fund) in April 2024 with KfW as co-investor, achieved ISO 27001:2022 certification in May 2026, and expanded into asset management via a wholly-owned subsidiary, Midland Bank Asset Management Company Limited (MDBAMC), which launched the Midland Bank Growth Fund and Midland Bank Balanced Fund in late 2025.

Name

Midland Bank

Legal name

Midland Bank PLC.

Website

https://midlandbankbd.net

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Midland Bank PLC is a publicly listed Bangladeshi commercial bank (est. 2013) offering retail, SME, corporate, Islamic (Saalam), treasury, and NRB banking through branches, 142 agent banking centers, and digital channels across Bangladesh.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Islamic Corporate Banking (FSABAGAC)

Keywords

• Retail banking
• Commercial banking
• Islamic banking
• Sme financing
• Digital banking

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income on Loans: The primary revenue stream for Midland Bank as a commercial bank. The bank extends various loan products including personal loans, home loans, car financing, bike financing, SME financing, and institutional lending, earning interest income as the main revenue driver. The bank offers both conventional and Islamic (Saalam) banking products.
2. Fee and Commission Income: Midland Bank generates fee income from various banking services including account maintenance, transaction processing, cash management services for corporate clients, remittance services, and other service charges across its branch and digital channels.
3. Foreign Exchange Income: Revenue generated from foreign exchange transactions, including currency trading, remittance services (partnership with Nagad), and foreign exchange operations for import/export financing and NRB (Non-Resident Bangladeshi) customers.
4. Bancassurance Commission: Income generated through insurance partnerships (Desh General Insurance, Pragati Insurance Limited) by offering insurance products to bank customers, earning commission on premiums collected.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Midland Bank PLC is a full-service commercial bank offering retail banking (savings, deposits, personal/home/auto/bike loans, cards), SME financing, corporate and institutional banking, treasury and foreign exchange services, Islamic banking (Saalam), agent banking, remittance services, and bancassurance. It operates a digital-first platform with online and mobile banking, instant account opening, automated challan services, and corporate cash management alongside a physical branch and agent banking network across Bangladesh.

Product overview

Midland Bank PLC is a fourth-generation private commercial bank in Bangladesh offering a comprehensive digital banking platform with multiple product categories: Retail Banking (savings, current accounts, loans, credit/debit/prepaid cards), Digital Banking (MDB Digital Savings, midland online internet banking, MDB Jhotpot instant account opening, Green PIN, MDB Digital Nano Loan), Islamic Banking (Midland Saalam - offering Shariah-compliant current accounts, savings, deposit pension schemes, home finance, consumer finance, SME financing, and export financing under Bai Salam/Mudaraba structures), Treasury & Investment Services (money market, forex, fixed income, government securities), Agent Banking (142 centres across 30 districts), and Corporate Banking (institutional banking, SME financing). The bank operates as a unified platform with digital-first products integrated across all segments, supporting both conventional and Islamic banking under one institution.

Differentiator

Problem solved

Functional benefit

Brands

• Saalam: Dedicated Islamic Banking platform offering Shariah-compliant banking products including Saalam Savings, Saalam Current, Saalam Home Finance, Saalam Consumer Finance, Saalam SME products, and various Mudaraba-based deposit schemes.

Products and services

• Retail Savings & Deposit Products A portfolio of retail savings accounts (General Savings at 2.50%, Super Saver tiered 2.75%-3.75%, School Saver, College Saver, Smart University Saver, CPP Savings, e-Saver, Interest First, Gift Cheque, SATHI joint account, Traveller's Savings), fixed deposits, and Deposit Pension Schemes (DPS) ranging from 3 months to 20 years with rates up to 10.25%. Includes digital variants of these products for online account opening. Target customers are individual retail consumers across Bangladesh.
• Current Accounts Standard current accounts for business and individual transactions, plus Short Notice Deposit (SND) accounts with tiered interest rates. Used for day-to-day banking transactions by retail and business customers.
• Personal Loans Personal lending products including MDB Personal Loan and MDB Remittance Personal Loan for individual borrowers, and MDB Digital Nano Loan (BDT 1,000 to BDT 50,000) with quick digital disbursement for existing customers maintaining a minimum monthly balance. Available through both conventional and Islamic banking channels.
• Home Loans Housing finance products including MDB Home Loan for purchasing or building homes and MDB Remittance Home Loan linked to remittance service customers. Available through both conventional and Islamic (Saalam) banking channels.
• Auto and Bike Loans Vehicle financing products including MDB Car Loan for cars and MDB Bike Loan for two-wheelers, available through both conventional and Islamic banking channels (Saalam Bike Finance and Saalam Auto Finance).
• SME Financing Small and medium enterprise financing products including working capital loans, MDB Saalam SME Bai Muajjal (Islamic), and MDB Bai Salam Finance for pre-shipment export financing. Includes secured loans, secured overdraft, digital secured loans with EMI, and digital SOD facilities. Targeted at SMEs in Bangladesh.
• Corporate / Institutional Banking Institutional banking services for large corporations, institutions, and government-related entities, including institutional lending, corporate banking, cash management, trade finance, treasury operations, and employee insurance coverage through MetLife Bangladesh partnership. Serves clients in IT, healthcare, hospitality, automotive, and diversified sectors.
• Islamic Banking (Midland Bank Saalam) Shariah-compliant banking division offering current accounts, savings products, Mudaraba-based deposit pension schemes, Hajj savings schemes, Ijar-based home finance, Bai Muajjal consumer finance, Bai Muajjal and Bai Salam-based auto/bike/SME financing, and Nirman construction/renovation financing. Operates under supervision of a Shariah Supervisory Council.
• Credit, Debit and Prepaid Cards Card products including MDB Credit Card (with LoungeKey program access), MDB Debit Card linked to customer accounts for ATM and POS transactions, and MDB Prepaid Card available in local currency or US Dollars. Issued under a Mastercard license received in February 2026.
• Agent Banking Banking services delivered through authorized agents via 142 Agent Banking Centres across 30 districts and 81 upazilas, extending banking reach to unbanked and underbanked populations in semi-urban and rural areas of Bangladesh.
• Treasury & Investment Services Treasury services including money market operations, foreign exchange (spot purchases/sales and derivatives for hedging exchange rate movements), fixed income investment, government securities (Bangladesh Government Treasury Bills and Bonds with BPID account services), and an Asset-Liability Management (ALM) Desk for balance sheet management, liquidity risk management, and interest rate risk monitoring.
• Bancassurance Insurance products distribution through bank channels including life and non-life insurance partnerships with Desh General Insurance and Pragati Insurance Limited. Customers can purchase insurance coverage through Midland Bank branches and digital channels.
• Remittance Services (NRB) Non-Resident Bangladeshi (NRB) remittance services through a partnership with Nagad, a prominent digital financial services provider in Bangladesh. Customers can send and receive international remittances with recipients gaining 24/7 access to funds and cash withdrawal at over 300,000 agent points nationwide. Includes Foreign Currency Accounts (MDB Freelancer ERQ Account) and remittance-linked lending products.
• Offshore Banking International banking services for offshore operations, supporting cross-border transactions and offshore banking needs.
• Foreign Exchange Services Foreign exchange services including currency trading, import/export financing support, and FX sales for NRB customers. The bank's SWIFT code is MDBL BD DH for international transactions.
• Asset Management Services Asset management and mutual fund services through wholly owned subsidiary Midland Bank Asset Management Company Limited (MDBAMC). Includes the Midland Bank Growth Fund (open-ended mutual fund) and Midland Bank Balanced Fund, each with an initial size of Tk. 25 crore with Midland Bank PLC contributing 10% as sponsor.
• Safe Deposit Lockers Secure Locker Service providing safe deposit box rentals for customers to store valuables at bank premises.
• Digital Banking Platform (Midland Online & Mobile) Digital self-service banking platform including Midland Online (internet banking via web browser) and a mobile banking app for iOS and Android. Customers can manage accounts, transfer funds, pay bills, conduct mobile top-ups, and access banking services 24/7 without visiting a branch.
• Midland Cash Management (MCM) Digital corporate cash management platform enabling corporate and institutional clients to manage funds, streamline collections and payments, and access comprehensive cash management solutions online.
• AChallan (Automated Challan System) Automated challan system that streamlines the creation and management of government financial challans for various payment purposes, enabling digital government fee collection.
• MDB Bills Collection Utility bill collection service enabling customers to pay utility and other bills through bank channels.

Quantifiable outcome

• Agent banking network covers 30 districts and 81 upazilas across Bangladesh, enabling financial inclusion in underserved regions.
• +1 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature7 records

Partnerships

14 partnerships are on record, tiered core, minor and major.

• Axentec PLCcoreTechnology or Integration · 11 April 2026Midland Bank entered a cloud technology partnership with Axentec PLC to build and maintain Tier-4 cloud data center infrastructure. This partnership supports the bank's digital banking operations, core banking systems, and data management capabilities, providing enterprise-grade cloud hosting for mission-critical banking applications.
• NagadcoreTechnology or Integration · 12 March 2026Midland Bank partnered with Nagad, a prominent digital financial services provider in Bangladesh, to offer remittance services. The partnership enables Midland Bank customers to send and receive international remittances through Nagad's digital platform, leveraging Nagad's extensive digital payment infrastructure for seamless cross-border fund transfers.
• MastercardcoreTechnology or Integration · 1 February 2026Midland Bank received a Mastercard license, enabling the bank to issue Mastercard-branded payment cards (debit, credit, prepaid) and expand its digital payment capabilities. This partnership provides access to Mastercard's global payment network for card transactions both domestically and internationally.
• Bridge Holdings LtdminorStrategic or Co-development Partner · 15 December 2025Midland Bank signed a Memorandum of Understanding with Bridge Holdings Ltd for banking services to support the company's financial operations and growth.
• Rose View HotelminorStrategic or Co-development Partner · 15 December 2025Midland Bank signed a hospitality sector MoU with Rose View Hotel, providing banking services and financial solutions for the hotel's operational needs.
• Marco Polo Dhaka HotelminorStrategic or Co-development Partner · 15 December 2025Midland Bank signed a hospitality sector MoU with Marco Polo Dhaka Hotel, extending banking services and financial solutions to support the hotel's business operations.
• Best Western Plus Bay HillsminorStrategic or Co-development Partner · 15 December 2025Midland Bank signed a hospitality sector MoU with Best Western Plus Bay Hills, providing banking services and financial support for the hotel chain's operations.
• Meena IVF and Fertility Care LimitedminorStrategic or Co-development Partner · 8 December 2025Midland Bank signed a healthcare sector MoU with Meena IVF and Fertility Care Limited, providing banking and financial services to support the fertility care clinic's operations.
• Sonic (Bangladesh) LtdmajorStrategic or Co-development Partner · 19 November 2025Midland Bank signed a Memorandum of Understanding with Sonic (Bangladesh) Ltd for cash management services. The partnership enables Sonic to access comprehensive cash management solutions from Midland Bank, supporting streamlined financial operations for the IT company.
• Concord Diagnostics & Molecular Lab BD LtdminorStrategic or Co-development Partner · 16 October 2025Midland Bank signed a healthcare sector MoU with Concord Diagnostics & Molecular Lab BD Ltd, providing banking and financial services to support the healthcare company's operations and growth.
• EW Villa Medica BangladeshminorStrategic or Co-development Partner · 16 October 2025Midland Bank signed a healthcare sector MoU with EW Villa Medica Bangladesh, extending banking services to support the healthcare provider's financial operations.
• IFAD Motors LtdminorStrategic or Co-development Partner · 23 September 2025Midland Bank signed an MoU with IFAD Motors Ltd for banking and financial services, likely supporting the automotive company's dealer financing and operational banking needs.
• Desh General InsurancemajorStrategic or Co-development PartnerMidland Bank established a bancassurance partnership with Desh General Insurance, enabling the bank to offer insurance products to its customers through the bank's distribution network. This partnership allows Midland Bank customers to purchase general insurance coverage through bank branches.
• Pragati Insurance LimitedmajorStrategic or Co-development PartnerMidland Bank maintains a bancassurance partnership with Pragati Insurance Limited, offering insurance products to bank customers through the branch network. This expands the range of financial products available to Midland Bank's retail and corporate customers.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• BRAC Bank: Bangladesh's leading private commercial bank with strong retail, SME, and digital banking franchises (Astro). Directly comparable to Midland Bank across retail deposits, SME financing, cards, and digital channels.
• Eastern Bank PLC (EBL): Private commercial bank with strong corporate, treasury, and retail banking operations; frequently cited as a comparator. Multiple Midland Bank executives (Zahid Hossain, Imtiaz U. Ahmed) previously held senior roles at EBL, indicating overlapping talent pool and strategic orientation.
• Dutch-Bangla Bank: Large private commercial bank with a strong agent banking and ATM network across Bangladesh, including a pioneering NexusPay card portfolio. Directly comparable to Midland Bank's agent banking-led distribution model and retail focus.
• Mutual Trust Bank PLC: Private commercial bank with retail, SME, and institutional banking offerings plus an Islamic banking window. Shares comparable product breadth with Midland Bank; DMD Nazmul Huda Sarkar previously led Mutual Trust Bank's digital platform transition.
• City Bank PLC: Private commercial bank with a nationwide branch network and a full range of retail, SME, and corporate banking products. Directly comparable in scale and product set; Md. Zahid Hossain held senior positions there before joining Midland.
• Prime Bank PLC: Mid-sized private commercial bank with retail, SME, and corporate banking services plus Islamic banking. Comparable in target segments, product range, and geographic footprint to Midland Bank.
• Shahjalal Islami Bank PLC: Islamic-focused private commercial bank offering Shariah-compliant retail, SME, and corporate banking. Closely comparable to Midland Bank's Saalam Islamic banking window; new MD & CEO Imtiaz U. Ahmed previously held key leadership roles there.
• Bank Asia PLC: Private commercial bank with nationwide branch network offering retail, SME, and institutional banking plus Islamic banking. Comparable in scale, customer segments, and product breadth to Midland Bank.
• Dhaka Bank PLC: Private commercial bank providing retail, corporate, and Islamic banking services in Bangladesh. Comparable to Midland Bank in segment focus and product mix.

Emerging players

• Meghna Bank PLC: Relatively newer-generation private commercial bank in Bangladesh. Director Hafizur Rahman Sarker of Midland Bank was a sponsor shareholder of Meghna Bank, indicating overlap in sponsor networks and a comparable challenger-bank profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCpbK9SJnmrVbaoIw6aMm8Sg
• Facebookfacebook.com/midlandbankbd
• LinkedInlinkedin.com/company/midland-bank-ltd.

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midland Bank