OVERVIEW OF THE BANK
Soon after independence of the country Sonali Bank emerged as the largest and leading Nationalized Commercial Bank by proclamation of the Banks' Nationalization Order 1972 (Presidential Order-26) liquidating the then National Bank of Pakistan, Premier Bank and Bank of Bhwalpur. As a fully state owned institution, the bank had been discharging its nation-building responsibilit
ies 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 CEO & Managing Director, 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. Some notable features of the Bank are as follows:
Capital Structure:
Authorised Capital : Tk. 6000.00 Crore
Paid up Capital : Tk. 4530.00 Crore
Branches & Subsidiaries:
1 Total No of Branches 1227
a. No of Local branches 1225
i) No of Rural Branches 725
ii) No of Urban Branches 500
2 No of Regional Offices 16
3 No of Principal Offices 46
4 No of G.M. Offices 11
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. Sonali Bank (UK) Limited having 2 (Two) branches in UK.
2. Sonali Polaris FT Limited
3. Representative Offices :3 : 1(One) in Jeddah, KSA; 1 (One) in Riyadh, KSA and 1 (One) in Kuwait. Correspondence : 639
