Mercantile Bank

What Mercantile Bank does

Mercantile Bank PLC is a Bangladesh-based commercial bank headquartered in Dhaka, founded in 1999 and publicly listed on the Dhaka Stock Exchange (ticker: MBPLC). The bank operates a full-service commercial banking franchise spanning six core segments: Corporate Banking (funded and non-funded credit facilities, trade finance, project finance, cash management), CMSME Financing (specialized schemes including CHAKA, SAMRIDDHI, MOUSUMI, ANANNYA, SANCHALAK, UNMESH, UDAYAN, cluster financing), Retail Banking (deposits, loans, MBL Cards), Agricultural Credit (NABANNO, SHAKTI green-energy loans), NRB Banking (Foreign Currency Deposits, RFCD, MBL Prabasi remittance), and Treasury/Foreign Trade services. It also offers Islamic Banking through a dedicated branch and windows, and operates Agent Banking outlets to reach underserved rural areas.

The technology stack is anchored on a digital banking platform comprising the MBL Rainbow mobile banking application, an internet banking portal, MBL e-KYC for digital onboarding, SMS alert services, MBL CorporatePay for business payments, and the Bangla QR cashless-payment system. Card services are delivered under both Visa (Platinum, Signature, Global Debit) and Mastercard (World, Titanium) networks, with the MBL SimplePay 0% EMI installment facility, MBL MyReward points program, MBL Credit Shield insurance, Insta-Loan, Priority Pass lounge access, and Meet and Greet airport services as cardholder value-adds. Distribution combines a national branch network (head office in Dhaka, regional offices in Chattogram, Feni/Cumilla-Noakhali, Bogura, and Sylhet), ATM booths, AD branches, Islamic banking windows, sub-branches, agent banking outlets, and CRM centers. The bank operates three wholly-owned subsidiaries: Mercantile Bank Securities Limited (brokerage), Mercantile Exchange House (UK) Limited (remittance and exchange), and MBL Asset Management Limited (fund management). It holds a Moody's credit rating, is Basel-III compliant under Bangladesh Bank regulation, and has received multiple ICAB national awards for annual reporting and an ICSB Silver Award for corporate governance.

The revenue model is primarily interest-driven: interest income from loans and advances across corporate, retail, CMSME, and agricultural books, supplemented by interest on investment securities and treasury operations. Non-interest income streams include fee and commission income (transaction fees, LC and guarantee fees, remittance commissions), foreign exchange income via AD branches and NRB services, card services revenue (annual fees, transaction fees, merchant discount rate from 100+ card-accepting merchants), and digital banking service fees. Pricing follows a published schedule of charges with interest rates and FX rates set per product/tenure/segment, billed monthly for interest-bearing products and per-transaction for card and digital services. The bank's 2025 consolidated EPS was Tk.1.10 with NAV per share of Tk.24.35 and NOCFPS of Tk.5.95 (per 27th AGM), and FY2024 revenue was reported at BDT 83,808 billion (Taka) per the financials table, down from BDT 147,935 billion in 2021.

Name

Mercantile Bank

Legal name

Mercantile Bank PLC.

Website

https://mblbd.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Mercantile Bank PLC is a Bangladesh-based, Dhaka Stock Exchange-listed commercial bank serving corporate, retail, CMSME, agricultural, and NRB customers through a national branch, ATM, agent, and digital banking network including the MBL Rainbow mobile platform.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Commercial banking services
• CMSME financing
• Corporate lending
• Retail banking
• Digital banking platforms

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Interest Income: Income from loans and advances including corporate loans, retail loans, CMSME financing, and agricultural credit. Interest earned on investment securities and treasury operations.
2. Fee and Commission Income: Transaction fees, service charges, commission on remittances, LC fees, guarantee fees, and other banking service charges
3. Foreign Exchange Income: Revenue from foreign exchange transactions, import/export services through AD branches, and NRB banking services
4. Card Services: Income from credit cards, debit cards, and prepaid cards including annual fees, transaction fees, and merchant commissions from card accepting merchants
5. Digital Banking Services: Fees from mobile banking, online banking, SMS alert services, and agent banking operations

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

Mercantile Bank PLC is a Dhaka-based commercial bank providing a comprehensive range of banking services including corporate banking (funded and non-funded credit facilities), retail banking (deposits, loans, cards), CMSME financing (CHAKA, SAMRIDDHI, MOUSUMI, ANANNYA, SANCHALAK, UNMESH, Factoring of Receivables, UDAYAN, Start Up, Cluster Financing), agricultural credit (NABANNO, SHAKTI), NRB banking services, Islamic banking, agent banking, treasury operations, foreign trade services, and card services through debit, credit, and prepaid cards. The bank operates branches, ATMs, agent banking outlets, digital banking platforms (MBL Rainbow mobile app, MBL CorporatePay, i-Banking), and three wholly-owned subsidiaries (Mercantile Bank Securities Limited, Mercantile Exchange House UK Limited, MBL Asset Management Limited).

Product overview

Mercantile Bank PLC is a Bangladesh-based bank offering a comprehensive suite of banking products and services organized into distinct segments: Corporate Banking (funded and non-funded credit facilities), Retail Banking (deposits, loans, cards), CMSME Financing (specialized SME products including CHAKA, SAMRIDDHI, MOUSUMI, ANANNYA, SANCHALAK, UNMESH, UDAYAN, Start Up, and CMSME Cluster Financing), Agricultural Credit (NABANNO, SHAKTI), NRB Banking (Foreign Currency Deposit, RFCD, MBL Prabasi), Treasury Services, Digital Banking (MBL Rainbow mobile app, MBL e-KYC, Online Banking, SMS Alerts), Islamic Banking, Agent Banking, and Cards (MBL Cards with SimplePay 0% EMI, Credit Shield, MyReward, Insta-Loan, Priority Pass, Meet and Greet). The bank also offers capital market products (Subordinated Bond, Perpetual Bond) and operates three subsidiaries: Mercantile Bank Securities Limited, Mercantile Exchange House (UK) Limited, and MBL Asset Management Limited.

Differentiator

Problem solved

Functional benefit

Brands

• MBL Rainbow: Digital banking platform providing mobile banking services including online banking, SMS alerts, and e-KYC system.
• MBL Cards
• MBL CorporatePay
• i-Banking

Products and services

• Corporate Banking - Funded Credit Facilities Funded credit facilities for large corporations and business entities requiring comprehensive banking solutions including working capital financing, project financing, and term loans.
• Corporate Banking - Non-Funded Credit Facilities Non-funded credit facilities for corporate clients including letter of credit, guarantee facilities, and trade-related banking instruments.
• Retail Deposits Retail deposit products including Current Deposit (CD), Savings Bank (SB), Short Notice Deposit (SND), and Monthly Savings Scheme (MSS) accounts for individual consumers.
• Retail Loans Personal loan products offered to individual retail customers for personal financing needs.
• MBL Cards (Debit, Credit, Prepaid) Range of debit, credit, and prepaid cards including Visa Platinum, Visa Signature, Mastercard World, and Mastercard Titanium with various benefits and partner discounts.
• CMSME Financing - CHAKA (Term Loan) Term loan product under CMSME Financing for cottage, micro, small, and medium enterprises.
• CMSME Financing - SAMRIDDHI (Continuous Loan) Continuous loan product for CMSME sector development and working capital needs.
• CMSME Financing - MOUSUMI (Short Term Seasonal Loan) Short-term seasonal loan for agricultural and cyclical business financing needs of CMSME borrowers.
• CMSME Financing - ANANNYA (Women Entrepreneur's Loan) Specialized loan product for women-led enterprises and women entrepreneurs in Bangladesh.
• CMSME Financing - SANCHALAK Mixed credit facility combining term, time, and continuous credit for flexible SME financing.
• CMSME Financing - UNMESH (Foreign Trade Finance) Foreign trade finance product for CMSME sector engaged in international trade.
• Agricultural Credit - NABANNO (Krishi/Polli Loan) Agricultural and rural loan product for farmers and rural community development.
• Agricultural Credit - SHAKTI (ETP/Bio-Gas/Solar Energy Loan) Eco-friendly energy loan for Environmental Technology Program, bio-gas and solar energy projects.
• Islamic Banking Shariah-compliant banking products and services for customers requiring Islamic finance, delivered through a dedicated Islamic Banking Branch and Islamic Banking Windows.
• Agent Banking Agent banking outlets extending banking services to underserved and rural areas through authorized agents.
• NRB Banking - Foreign Currency Deposit Scheme Foreign currency deposit accounts for Non-Resident Bangladeshis (NRB) to maintain and manage foreign currency savings.
• NRB Banking - MBL Prabasi Remittance Remittance service for Non-Resident Bangladeshis sending money back to Bangladesh.
• MBL Rainbow Mobile Banking Mobile banking application providing digital financial services including wallet functionality, money transfers, and transaction management for retail customers.
• MBL e-KYC System Electronic Know Your Customer system enabling digital customer onboarding and identity verification for account opening.
• Online Banking Internet banking platform facilitating CD, SB, SND, Loan accounts and Monthly Savings Scheme (MSS) account management since January 2006.
• MBL CorporatePay Corporate payment solution for business transactions and financial management for corporate customers.
• SMS Alert Service Real-time SMS notification service for transaction alerts and account updates.
• Offshore Banking Unit (OBU) Offshore banking unit offering foreign currency banking services for trade and international finance.
• MBL 2nd Subordinated Bond Coupon bearing subordinated bond for Tier 2 capital augmentation.
• MBL Perpetual Bond Perpetual bond for additional Tier 1 capital strengthening.
• Mercantile Bank Securities Limited Wholly-owned subsidiary providing securities trading and investment services.
• Mercantile Exchange House (UK) Limited UK-based subsidiary providing international remittance and currency exchange services for the Bangladeshi diaspora.
• MBL Asset Management Limited Asset management subsidiary providing investment fund management services.
• Treasury Services Treasury operations including foreign exchange transactions, investment securities, and interbank market operations.
• Foreign Trade Services

Quantifiable outcome

• Significant reduction in non-performing loans (NPLs) achieved in 2025
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Palli Karma-Sahayak Foundation (PKSF)coreStrategic or Co-development Partner · 23 July 2026Strategic partnership for credit guarantee services under Credit Enhancement Scheme. Mercantile Bank extends credit and loan facilities to PKSF-enlisted partner organizations with full credit guarantee backing, lowering lending risks and boosting financial resources for small businesses in rural and marginalized communities.
• Bangladesh BankcoreStrategic or Co-development Partner · 2 July 2026Agreement to provide low-interest loans to entrepreneurs under CMSME cluster financing program. Supports inclusive finance and enterprise development initiatives.
• MastercardcoreTechnology or IntegrationCard network partnership for credit and debit cards with exclusive campaigns including Food Junction, SSLCOMMERZ SavePayWIN, cross-border usage campaigns, Foodi campaigns, and healthcare offers.
• VisacoreTechnology or IntegrationCard network partnership for debit and credit card services with premium cardholder benefits including airport lounge access and priority services.
• Hotel InterContinental DhakaminorGTM or Marketing PartnerBalaka Executive Lounge access at Hazrat Shahjalal International Airport for premium cardholders. Part of premium cardholder value-added services.
• SSLCOMMERZminorGTM or Marketing PartnerDigital payment platform partner for SavePayWIN campaign offering discounts and prizes to cardholders using SSL services.
• Priority PassminorGTM or Marketing PartnerAirport lounge access program for Platinum and Signature cardholders enabling access to 700+ airport lounges worldwide.
• Mercantile Bank Securities LimitedcoreOthersWholly-owned subsidiary providing securities brokerage and investment services.
• Mercantile Exchange House (UK) LimitedcoreOthersSubsidiary in UK providing international exchange and remittance services.
• MBL Asset Management LimitedcoreOthersSubsidiary providing asset management and investment management services.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Prime Bank PLC: Bangladesh private commercial bank with comparable corporate, retail, and NRB banking services. Overlapping distribution footprint and similar Islamic banking window positioning.
• BRAC Bank PLC: One of Bangladesh's largest private commercial banks, offering retail, corporate, CMSME, and cards. Comparable to Mercantile across product mix, distribution model, and target customer base.
• Dutch-Bangla Bank PLC: Bangladesh private commercial bank with a strong agent banking and digital focus. Directly comparable on retail deposit franchise, cards, and digital banking.
• Eastern Bank PLC (EBL): Mid-tier Bangladesh private commercial bank with similar corporate, retail, and treasury offerings. Comparable card portfolio (Visa/Mastercard) and digital channels.
• City Bank PLC: Bangladesh private commercial bank with similar product breadth including cards, CMSME, and agent banking. Direct competitor in retail deposits and SME lending.
• Southeast Bank PLC: Bangladesh private commercial bank with parallel offering in corporate, retail, and Islamic banking. Provides a near-direct read on Mercantile's domestic competitive set.
• Bank Asia PLC: Bangladesh private commercial bank with comparable Islamic banking subsidiary and remittance/NRB focus. Peer in regional branch expansion and SME lending.
• Mutual Trust Bank PLC: Bangladesh private commercial bank with similar CMSME, retail, and Islamic banking positioning. Comparable in scale and target segments.

Broad incumbents

• Islami Bank Bangladesh PLC: Bangladesh's largest Islamic bank and dominant Shariah-compliant franchise. Comparable on the Islamic banking side of Mercantile's business; broader incumbent across deposits and corporate.

Regional players

• First Security Islami Bank PLC: Bangladesh private commercial bank with strong Islamic banking franchise. Comparable to Mercantile's Islamic banking windows and overall CMSME retail mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/mercantile.bd
• LinkedInlinkedin.com/company/mercantile-bank-limited

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about Mercantile Bank