List of banks in Bangladesh
Pursuant to Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized the Dhaka Branch of the State Bank of Pakistan as the central bank of the country, and named it Bangladesh Bank with retrospective effect from 16 December 1971. Other than the Central Bank itself, banks in Bangladesh are primarily categorized into 2 types. They are Scheduled Banks and Non-Scheduled Banks.
- 1 Scheduled banks
- 2 Non-scheduled banks
- 3 Non-bank financial institutions (NBFIs)
- 4 Specialized financial institutions (semi formal sector)
- 5 References
Scheduled banks are licensed under the Bank Company Act, 1991 (Amended up to 2013). Currently, there are 59 scheduled banks in Bangladesh.
State owned banks (SOBs)
State owned commercial banks (SOCBs)
There are 6 state owned commercial banks (SOCBs) which are fully or majorly owned by the Government of Bangladesh.
- Sonali Bank Limited
- Janata Bank Limited
- Agrani Bank Limited
- Rupali Bank Limited
- BASIC Bank Limited
- Bangladesh Development Bank Limited
Specialized banks (SDBs)
3 specialized banks are now operating which were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh.
Private commercial banks (PCBs)
There is a total of 41 PCBs in Bangladesh are in operation right now. They are majorly owned by private entities and classified into two types.
In total 33 conventional PCBs are now operating in the industry. They perform the banking functions in conventional fashion i.e. interest based operations.
- AB Bank Limited
- Bangladesh Commerce Bank Limited
- Bank Asia Limited
- BRAC Bank Limited
- City Bank Limited
- Dhaka Bank Limited
- Dutch-Bangla Bank Limited
- Eastern Bank Limited
- IFIC Bank Limited
- Jamuna Bank Limited
- Meghna Bank Limited
- Mercantile Bank Limited
- Modhumoti Bank Limited
- Mutual Trust Bank Limited
- National Bank Limited
- National Credit & Commerce Bank Limited
- NRB Bank Limited
- One Bank Limited
- Premier Bank Limited
- Prime Bank Limited
- Pubali Bank Limited
- Shimanto Bank Ltd
- Standard Bank Limited
- The Farmers Bank Limited
- Trust Bank Limited
- United Commercial Bank Limited
- Uttara Bank Limited
Islami Shariah Based PCBs
There are 8 Islami Shariah-based PCBs in Bangladesh and they execute banking activities according to Islami Shariah-based principles i.e. Profit-Loss Sharing (PLS) mode.
- Al-Arafah Islami Bank Limited
- EXIM Bank Limited
- First Security Islami Bank Limited
- Islami Bank Bangladesh Limited
- Shahjalal Islami Bank Limited
- Social Islami Bank Limited
Foreign commercial banks (FCBs)
In total 9 FCBs are operating in Bangladesh as the branches of the banks which are incorporated in abroad.
- Bank Al-Falah Limited
- Citibank N.A
- Commercial Bank of Ceylon PLC
- Habib Bank Limited
- National Bank of Pakistan
- Standard Chartered Bank
- State Bank of India
- Woori Bank
Non-scheduled banks are licensed only for specific functions and objectives, and do not offer the same range of services as scheduled banks. There are now 5 non-scheduled banks in Bangladesh.
Non-bank financial institutions (NBFIs)
Non-bank financial institutions (NBFIs), simply known as financial institutions (FIs), are those types of financial institutions which are regulated under Financial Institution Act, 1993 and controlled by Bangladesh Bank. Now, 34 FIs are operating in Bangladesh while the maiden one was established in 1981. Out of the total, 2 is fully government owned, 1 is the subsidiary of a SOCB, 15 were initiated by private domestic initiative and 15 were initiated by joint venture initiative.
Notable NBFI's include:
- Investment Corporation of Bangladesh
- Bangladesh Industrial Finance Company Limited
- IDLC Finance Limited
- United Finance Limited