This article is about the 1999 established commercial bank, headquartered in Dhaka, Bangladesh. For the other banks with similar names, see Mercantile Bank (disambiguation).
In April 2009, Mohammad Abdul Jalil, a former Awami League Commerce Minister, was elected chairman of Mercantile Bank.[7]
Md Abdul Jalil was re-elected chairman of Mercantile Bank in April 2012.[8]
On 9 January 2013, M Ehsanul Haque was appointed managing director of Mercantile Bank.[9] In May 2013, Bangladesh Bank found a director of Mercantile Bank, Md Shahabuddin Alam, was involved with illegal transaction involving subsidiaries of SA Group of Industries.[10] M Amanullah was elected chairman of Mercantile Bank.[11]
Bangladesh Bank appointed an observer to Mercantile Bank in November 2014.[12]
In January 2016, Kazi Masihur Rahman was appointed managing director of Mercantile Bank.[13]
Bangladesh Bank investigation in February 2018 found that the bank violated rules regarding cash incentive for exports.[14] The Anti-Corruption Commission sued four directors of Mercantile Bank, Akram Hossain Humayun, M Amanullah, Md Anwarul Haque, and Mohd Selim, in December 2018 for helping Patrick Fashions and Kazi Farhad Hossain secure a loan mortgaging government property.[15]
From 17 to 21 February 2019, Mercantile Bank suspended all activities as it was shifting its data center.[16] Md Quamrul Islam Chowdhury was appointed managing director of Mercantile Bank.[17] Morshed Alam, chairman of Bengal Group of Industries and member of parliament from Awami League, was appointed chairman of Mercantile Bank in July.[18]
In January 2020, Bangladesh Bank removed a director of Mercantile Bank, Md Shahidul Ahsan, over allegations of money laundering.[19]
Bangladesh Bank removed a director of Mercantile Bank, AKM Shaheed Reza, for being involved in irregular loans in April 2021.[20] Reza was investigated by Bangladesh Financial Intelligence Unit and the Financial Integrity and Customer Services Department of Bangladesh Bank who found his involvement in irregular loans with PK Halder.[20] Morshed Alam was reappointed chairman of Mercantile Bank.[21]
In March 2022, Bangladesh Securities and Exchange Commission approved Mercantile Bank Unit Fund, an open-ended mutual fund.[22] In July, Mercantile Bank announced plans to buy commercial real-estate from its chairman, Morshed Alam, in Noakhali District from 81.5 million BDT.[23]
