An Overview of Sonali Bank Limited

CHAPTER 2
An Overview of Sonali Bank Limited

An Overview of Sonali Bank Limited
Historical Background
Sonali Bank Limited is a state-owned leading commercial bank in Bangladesh. It is

the largest bank of the country. 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. As a fully state owned institution, the bank had 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.
The bank has been converted to a Public Limited Company with 100% ownership of
the government and started functioning as Sonali Bank Limited from November 15,
2007 taking over all assets, liabilities and business of Sonali Bank. After
corporatization, the management of the bank has been given required autonomy to
make the bank competitive & to run its business effectively.
Sonali Bank Limited is governed by a Board of Directors consisting of 11 (Eleven)

members. The Bank is headed by the Managing Director & CEO, who is a well-
known Banker and a reputed professional. The corporate head quarter of the bank is
located at Motijheel, Dhaka, Bangladesh, the main commercial center of the capital.
Vision
Socially committed leading banking institution with global presence.
Mission
Dedicated to extend a whole range of quality products that support divergent needs of
people aiming at enriching their lives, creating value for the stakeholders and
contributing towards socio-economic development of the country.
Slogan:
Your trusted partner in innovating banking.

Branches
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. 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 Osborn Street, London, another in Small Heath; Birmingham and in
Manchester.
Core business of bank
Sonali Bank Limited operates the following services-
 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
Subsidiaries:
1. Sonali Exchange Company Incorporated (SECI) having 10 (Ten) branches in

USA.
2. Sonali Investment Limited (Merchant Banking) having 4 (Four) branches at
Motijheel, Paltan, Uttara, Mirpur in Dhaka and 1 (One) branch in Khulna,
Bangladesh.
Associates:
1. Sonali Bank (UK) Limited having 6 (Six) branches in UK.

2. Sonali Polaris FT Limited
Corporate Profile :
Name of the Company :Sonali Bank Limited

Chairman :Mr. Md. Ashraful Moqbul
CEO & Managing Director :Mr. Md. Obayed Ullah Al Masud
Company Secretary :Mr. A.K.M Sajedur Rahman Khan
Legal Status :Public Limited Company
Emerged as Nationalised Commercial Bank in 1972,
Genesis :following the Bangladesh Bank (Nationlisation) Order
No. 1972 (PO No.26 of 1972)
Date of Incorporation :03 June, 2007
Date of Vendor's Agreement :15 November, 2007
35-42, 44 Motijheel Commercial Area, Dhaka,
Registered Office :
Bangladesh
Authorised Capital :Taka 6000.00 Crore
Paid-up Capital :Taka 3830.00 Crore
Number of Employee :22,446
Number of Branches :1210
Phone-PABX :9550426-31, 33, 34, 9552924
FAX :88-02-9561410, 9552007
SWIFT :BSONBDDH
Website :www.sonalibank.com.bd
E-mail :[email protected]
Management hierarchy of position of sonali bank:
BOARD OF DIRECTORS
MANAGING DIRECTORS
DEPUTY MANAGING DIRECTORS
GENERAL MANAGER
DEPUTY GENERAL MANAGER
ASSISTANT GENERAL MANAGER
SENIOR PRINCIPAL OFFICER
PRINCIPAL OFFICER
SENIOR OFFICER
OFFICER
Fig: Hierarchy of position

An Overview of Sonali Bank Limited

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An Overview of Sonali Bank Limited

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CHAPTER 2

An Overview of Sonali Bank Limited

Sonali Bank Limited is a state-owned leading commercial bank in Bangladesh. It is

Sonali Bank Limited is governed by a Board of Directors consisting of 11 (Eleven)

Socially committed leading banking institution with global presence.

Your trusted partner in innovating banking.

Core business of bank

Sonali Bank Limited operates the following services-

 Foreign Exchange Dealing

 Rural and Micro credit

 Government Treasury Function

 Money Market Operation

 Capital Market Operation

1. Sonali Exchange Company Incorporated (SECI) having 10 (Ten) branches in

1. Sonali Bank (UK) Limited having 6 (Six) branches in UK.

Name of the Company :Sonali Bank Limited

DEPUTY MANAGING DIRECTORS

DEPUTY GENERAL MANAGER

ASSISTANT GENERAL MANAGER

SENIOR PRINCIPAL OFFICER

Fig: Hierarchy of position

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