Brac Bank has signed a Distributor Financing Agreement with leading steel manufacturer GPH Ispat.
Under the agreement, the distributors of GPH Ispat across the country will get collateral free loan from Brac Bank for smooth business operations, said a press release.
The agreement will be immensely beneficial for the dealers and distributors of GPH Ispat, as they can now receive steady and assured funding to support their working capital needs from Brac Bank.
Chairman of GPH Group Mohammed Jahangir Alam, BRAC Bank Deputy Managing Director and Head of SME Banking Syed Abdul Momen, Head of Emerging Corporate Indrajit Sur and Head of Small Business, East Alomgir Hossain were present at the signing ceremony held at GPH Ispat Office in Chattogram.
Champak Chakrabortty, head of credit synchronisation and monitoring unit, GPH Ispat; and Kayesh Chowdhury, head of regional corporate – Chattogram, Brac Bank; were also present.