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

Bangladesh

Bangladesh , officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India on all sides except for a small border with Burma to the far southeast and by the Bay of Bengal to the south...

.
It is the largest bank of the country.

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

East Pakistan

East Pakistan was a provincial state of Pakistan established in 14 August 1947. The provincial state existed until its declaration of independence on 26 March 1971 as the independent nation of Bangladesh. Pakistan recognized the new nation on 16 December 1971. East Pakistan was created from Bengal...

 until the 1971 Bangladesh Liberation War

Bangladesh Liberation War

The Bangladesh Liberation War was an armed conflict pitting East Pakistan and India against West Pakistan. The war resulted in the secession of East Pakistan, which became the independent nation of Bangladesh....

. 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 1194 branches http://www.sonalibank.com.bd/overview_of_the_bank.htm. Out of them, 342 are located in urban areas, 850 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

United Kingdom

The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

, to facilitate foreign exchange remittances. Sonali Bank UK remits up to to 14 destinations across Bangladesh directly, these include Dhaka

Dhaka

Dhaka is the capital of Bangladesh and the principal city of Dhaka Division. Dhaka is a megacity and one of the major cities of South Asia. Located on the banks of the Buriganga River, Dhaka, along with its metropolitan area, had a population of over 15 million in 2010, making it the largest city...

, Chittagong

Chittagong

Chittagong ) is a city in southeastern Bangladesh and the capital of an eponymous district and division. Built on the banks of the Karnaphuli River, the city is home to Bangladesh's busiest seaport and has a population of over 4.5 million, making it the second largest city in the country.A trading...

, Sylhet

Sylhet

Sylhet , is a major city in north-eastern Bangladesh. It is the main city of Sylhet Division and Sylhet District, and was granted metropolitan city status in March 2009. Sylhet is located on the banks of the Surma Valley and is surrounded by the Jaintia, Khasi and Tripura hills...

, Maulvibazar, Beanibazar, Balaganj, Biswanath, Jagannathpur, Sunamganj, Golapganj, Nabigonj, Habigonj, Kulaura or Tajpur

Tajpur

Tajpur is a town in Samastipur district of Bihar, IndiaTajpur is located in Purba Medinipur, West Bengal, India on the shore of Bay of Bengal .-Location:National Highway 28 passes through Tajpur. Nearest airport is Patna Airport....

. There are currently three branches in the UK, one located in Brick Lane

Brick Lane

Brick Lane is a street in the London Borough of Tower Hamlets, in the East End of London. It runs from Swanfield Street in the northern part of Bethnal Green, crosses Bethnal Green Road, passes through Spitalfields and is linked to Whitechapel High Street to the south by the short stretch of...

, London

London

London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

, another in Small Heath

Small Heath

Small Heath can refer to:* Small Heath, Birmingham, an area of Birmingham, England** Birmingham Small Heath ** Small Heath or Small Heath Alliance, former names of Birmingham City F.C....

, Birmingham

Birmingham

Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...

 and in Manchester

Manchester

Manchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...

.

Core Business of Bank

Sonali Bank Limited operates the following services http://www.sonalibank.com.bd/:

• 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

External links

• Official website