Sonali Bank

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Sonali Bank Limited
Public Limited Company
Industry Banking
Financial services
Founded 1972
Headquarters Motijheel, Dhaka, Bangladesh
Area served
Bangladesh & Overseas
Key people
Fazle Kabir (Chairman)
Mr. Pradip Kumar Dutta (Managing Director & CEO)
Products Finance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Decrease Tk 2.73 billion (US$ 33.7 million) 2010[1]
Total assets Increase Tk 649.26 billion (US$ 8.01 billion) {December 2010}[1]
Number of employees
21,839[2]
Website Sonalibank.com.bd

Sonali Bank Limited (Bengali: সোনালী ব্যাংক লিমিটেড) is a state-owned leading commercial bank in Bangladesh.[3] It is the largest bank of the country.[4][5]

History[edit]

Sonali Bank was established in 1972 under the Bangladesh Banks (Nationalisation) Order, through the amalgamation and nationalisation of the branches of National Bank of Pakistan, Bank of Bahawalpur and Premier Bank branches located in East Pakistan until the 1971 Bangladesh Liberation War.[6] When it was established, Sonali Bank had a paid up capital of 30 million taka. In 2001, its authorised and paid up capital were Tk 10 billion and Tk 3.272 billion respectively. Presently, its authorised and paid up capital is Tk 10 billion and Tk 9 billion respectively The bank's reserve funds were Tk 60 million in 1979 and Tk 2.050 billion on 30 June 2000. In 2013, $250,000 was stolen from the bank by Cyber criminals using the Swift International payments network.[7] In 2016 the Bank signed an Memorandum of Understanding with PayPal.[8]

Branches[edit]

Sonali Bank has a total of 1207 branches. Out of them, 343 are located in urban areas, 862 in rural areas, and 2 are located overseas.[9] It also operates the Sonali Exchange Company Inc. in USA and Sonali Bank (UK) Ltd., United Kingdom, to facilitate foreign exchange remittances. Sonali Bank UK remits up to 14 destinations across Bangladesh directly, these include Dhaka, Chittagong, Sylhet, Moulvibazar, Beanibazar, Balaganj, Biswanath, Jagannathpur, Sunamganj, Golapganj, Nabigonj, Habigonj, Kulaura or Tajpur. There are currently three branches in the UK, one located in Osborn Street, London, another in Small Heath; Birmingham and in Manchester.

References[edit]

  1. ^ a b "SONALI BANK LIMITED Balance Sheet". Sonali Bank Ltd. 
  2. ^ http://www.sonalibank.com.bd/profile.php
  3. ^ "Overview of the Bank". Sonali Bank Limited. 2005. Archived from the original on 3 July 2007. Retrieved 14 July 2007. Sonali Bank Limited, the largest & leading commercial bank of the country ... 
  4. ^ "Corporatisation not a panacea for NCBs' problems". The Financial Express. 19 June 2007. Retrieved 14 July 2007. For example, Sonali Bank LImited, the largest bank in the country ... 
  5. ^ "Bangladeshi bank allowed back in Britain". BBC. 29 November 2001. Retrieved 14 July 2007. Bangladesh's largest commercial bank, the Sonali Bank ... 
  6. ^ "Sonali Bank Limited - Banglapedia". en.banglapedia.org. Retrieved 2016-07-28. 
  7. ^ "Bangladesh probes 2013 Sonali Bank hack for links to central bank heist". bdnews24.com. Retrieved 2016-07-28. 
  8. ^ Nesa Alo, Jebun. "Sonali Bank signs MoU with PayPal". www.dhakatribune.com. Dhaka Tribune. Retrieved 2016-07-28. 
  9. ^ http://www.sonalibank.com.bd/overview.php

External links[edit]