World Library  
Flag as Inappropriate
Email this Article

Sonali Bank

Article Id: WHEBN0004207058
Reproduction Date:

Title: Sonali Bank  
Author: World Heritage Encyclopedia
Language: English
Subject: Daria-i-Noor, Dhaka, Islami Bank Bangladesh Ltd, Shaharpara, History of Dhaka
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Sonali Bank

Sonali Bank Limited
Type Public Limited Company
Industry Banking
Financial services
Founded 1972
Headquarters Motijheel, Dhaka, Bangladesh
Area served Bangladesh & Overseas
Key people Dr. AHM Habibur Rahman (Chairman)
Mr. Pradip Kumar Dutta (Managing Director & CEO)
Products Finance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Net income 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]
Employees 21,839[2]
Website Sonalibank.com.bd
Sonali Bank headquarters at Motijheel, Dhaka
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

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 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, 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.

Branches

Sonali Bank has a total of 1201 branches. Out of them, 345 are located in urban areas, 854 in rural areas, and 2 are located overseas.[6] 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, Maulvibazar, Beanibazar, Balaganj, Biswanath, Jagannathpur, Sunamganj, Golapganj, Nabigonj, Habigonj, Kulaura or Tajpur. There are currently three branches in the UK, one located in Brick Lane, London, another in Small Heath; Birmingham and in Manchester.

Core business of bank

Sonali Bank Limited operates the following services [1]:

  • Corporate Banking
  • Project Finance
  • SME Finance
  • Consumer Credit
  • International Trade
  • Trade Finance
  • Loan Syndication
  • Foreign Exchange Dealing
  • Rural and Micro credit
  • NGO-Linkage Loan
  • Investment
  • Government Treasury Function
  • Money Market Operation
  • Capital Market Operation
  • Remittance

References

  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".  
  5. ^ "Bangladeshi bank allowed back in Britain".  
  6. ^ http://www.sonalibank.com.bd/overview.php

External links

  • Official website
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.