Sonali Bank PLC

Point for government deposit

Very good!

Good but always crowdy.

Good

Great bank

Nice service

Verry good

Good

Krishi Bazar Branch, Dhaka

Ibrahim

Sonali Bank is a state-owned commercial bank in Bangladesh. It is the largest bank of the country.[A fully state-owned enterprise, the bank has been discharging its nation-building responsibilities by undertaking government entrusted different socio-economic schemes as well as money market activities of its own volition, covering all spheres of the economy. Sonali Bank Limited singularly enjoys the prestige of being the agent of the Central Bank of Bangladesh in such places where the guardian of the money market has chosen not to act by itself.

Sonali Bank was established in 1972 under the Bangladesh Banks (Nationalization) Order, through the amalgamation and nationalization of the branches of National Bank of Pakistan, Bank of Bhowalpur and Premier Bank branches located in East Pakistan until the 1971 Bangladesh Liberation War. When it was established, Sonali Bank had a paid up capital of 30 million taka. In 2001, it’s authorized and paid up capital were Tk. 10 billion and Tk. 3.272 billion respectively. The bank’s reserve funds were Tk. 60 million in 1979 and Tk. 2.050 billion on 30 June 2000.

The management of Sonali Bank is vested in a 7-member board of directors appointed by the government. The managing director is the chief executive. He is assisted by a deputy managing director, six general managers, and other senior executives. The general managers are in charge of the bank’s branches in the headquarters of the six administrative divisions of the country namely, Dhaka, Chittagong, Rajshahi, Khulna, Sylhet and Barisal. The bank has 32 departments at its head office including a training institute in Dhaka. On 30 June 2000, the total number of employees of the bank was 26,085.

Economy and Banking industry go together and are inseparable. Sonali Bank Limited has been playing an important role in the economic development of the country. As many as 26,085 people are in the employment of the Bank as on December 31, 2008. Besides, Sonali Bank Limited has generated employments for hundreds of people in the projects and industries established under finance. The Bank has been financing the trade and commerce of the country since inception of the Bank in 1997. We have handled a volume of countries exports and imports. The deposits our Bank mobilized through the outlets of branches helped in the formation of capital in the country. Our lending to borrower reached Tk. 23163.18 million as on June 30, 2009. It has contributed to the industrialization and improvement of trade and commerce of the country which ultimately accelerated economic growth and national welfare through multiplying effect. We have collected VAT and tax on interest/ profit earning of customers of the Bank. For relief and rehabilitation of natural calamity-hit people of the country in 2007 the bank has donated a denoted amount of money.

To develop national infrastructure and economy of Bangladesh Sonali Bank Limited has been playing dominant role to bring hard earning of Bangladesh expatriates working/ living abroad through banking channels. For this purpose, Sonali Bank Limited has established a bank named Sonali Bank (U.K) and an exchange house named Sonali Exchange Company Inc. (SECI), USA. Our Bank has also established drawing arrangement with various exchange house / banks in Middle East, Canada and Malaysia. Under this arrangement, remitters can easily send their hard earning to the beneficiaries in Bangladesh through 1184 Sonali Bank Limited Branches across the country. They can remit their money through Demand Drafts (DD), Telegraphic Transfers (TTs), SWIFT and / or Computerized Payment Instructions (PC to PC via dial up modem) on Sonali Bank Limited selective branches.

Central Accounts & Fund Management Division at Head Office maintains Investment Portfolio of the Bank. With a view to implementing Government policies & decisions and accelerating the growth of the capital market of the country, surplus funds of Sonali Bank are utilized in the following areas: