UCB Adopts IFRS 9 Financial Tech
• UCB introduces IFRS 9 compliant ECL provisioning system
• Strategic agreement signed with Raptas and Global Brand
• GRC Sphere software to automate credit risk assessment
United Commercial Bank PLC (UCB) adopted an advanced Expected Credit Loss (ECL) provisioning framework to align with IFRS 9 international financial reporting standards. According to a press release issued from Dhaka on Monday (August 31, 2026), the bank signed a technological partnership agreement with Raptas Resolute Limited and Global Brand PLC at its corporate headquarters to modernize its risk architecture.
Under this contract, UCB will integrate Raptas's proprietary 'GRC Sphere' software platform. The technology leverages data analytics to assess credit risks by factoring in macroeconomic indicators such as inflation, interest rates, and GDP growth. This algorithmic approach enables predictive risk evaluation, empowering the bank to make data-driven decisions while projecting future potential loan impairments with higher precision.
UCB Additional Managing Director and Chief Risk Officer (CRO) Nabil Mustafizur Rahman represented the bank at the signing event. Raptas Resolute Chief Executive Officer Yousup Faruqu and Global Brand PLC Senior General Manager Khandoker Khaled Hasan represented their respective organizations. UCB expects this software deployment to significantly strengthen its risk mitigation infrastructure and reporting precision.
//DBTech/AKB/SME//
