Bangladesh boasts a diverse banking industry, with many banks offering various financial products and services, with increased investments in digital technology and customer service revolving around customer experience. Over the last decade, its banking sector has witnessed exponential growth due to an emphasis on customer experience, with investments made into customer relations software like Salesforce CRM. Here we will examine some of Bangladesh’s leading bank brands: their history, services provided, and commitments towards sustainable banking practices – whether for personal banking needs, investment advice, or financing large projects; these financial institutions stand among trusted establishments within their industries in Bangladesh.
Some of the leading bank brands in Bangladesh include:
10. Sonali Bank Limited
Sonali Bank Limited is one of Bangladesh’s premier commercial banks, having opened in 1972. State-owned, it boasts more than 1,200 branches throughout Bangladesh and several overseas subsidiaries.
Sonali Bank provides its customers with various financial products and services, such as personal and business banking, remittance services, trade finance loans, and agricultural loans. Furthermore, the bank has made substantial investments in digital technology by offering its clients online banking, mobile banking services, and other digital offerings.
Sonali Bank has taken many steps in recent years to promote sustainable banking practices and reduce environmental impact while increasing social responsibility. They have implemented various environmental and social risk management policies and engaged in multiple community service activities across Bangladesh.
Overall, Sonali Bank has become one of the premier financial institutions in Bangladesh due to its dedication to customer service and sustainable banking practices.
9. National Bank Limited
Established in 1983, NBL is one of Bangladesh’s premier private commercial banks. It boasts over 190 branches and 162 ATMs throughout Bangladesh – offering its customers personal and business banking products and services, wealth management solutions, and trade finance.
NBL has earned recognition for its dedication to innovation and digital technology, having introduced several digital services such as online banking, mobile banking, and cardless ATM transactions over recent years.
NBL is committed to sustainable banking practices and has taken numerous steps to reduce environmental impact and advance social responsibility. For instance, they have implemented various environmental and social risk management policies and actively supported various community welfare activities throughout Bangladesh.
National Bank Limited is an established and trustworthy financial institution in Bangladesh, known for its dedication to innovation, customer service, and sustainable banking practices.
8. Prime Bank Limited
Prime Bank Limited was one of Bangladesh’s first commercial banks when established in 1995, boasting 160 branches and 240 ATMs throughout Bangladesh and offering retail and corporate banking services such as trade finance, treasury, and investment banking to their customers.
Prime Bank Limited is widely recognized for its dedication to technology and innovation, having introduced several digital services over recent years, including Internet banking, mobile banking, and online payments. Furthermore, advanced security measures have been put into place by Prime Bank to safeguard customers’ information and transactions.
Prime Bank Limited stands by its commitment to social responsibility by supporting various activities across Bangladesh related to education, health, and poverty reduction.
Prime Bank Limited is a highly esteemed and progressive financial institution in Bangladesh, committed to technology, customer service, and social responsibility.
7. Bangladesh Krishi Bank
Bangladesh Krishi Bank (BKB), founded in 1973, is a state-owned agricultural development bank in Bangladesh that boasts an expansive network of over 1000 branches throughout the country and primarily services the agriculture industry by providing credit facilities to farmers, rural entrepreneurs, and agribusinesses.
BKB offers various financial products and services, such as savings and deposit accounts, agricultural loans, microfinance products, and remittance services. BKB strives to foster sustainable farming practices and enhance rural communities’ lives while contributing to their financial well-being.
Bangladesh Krishi Bank is essential in Bangladesh’s overall economic development beyond agriculture and rural development. Through various initiatives supporting small and medium-sized enterprises (SMEs), women entrepreneurs, and micro-entrepreneurs, you provide employment opportunities while driving economic expansion.
Bangladesh Krishi Bank is an essential player in Bangladesh’s agriculture industry and an integral contributor to rural area development. Their dedication to sustainability, social responsibility, and economic growth has amassed a great customer base that remains loyal to them today.
6. Eastern Bank Limited
Established in 1992, Eastern Bank Limited is one of Bangladesh’s premier private commercial banks. It boasts an expansive network of over 100 branches and 250 ATMs to serve its customer base across Bangladesh. EBL provides comprehensive banking solutions to its customers across its broad nationwide branch network.
EBL provides various financial products and services, such as personal and corporate banking, SME banking, Treasury Services, investment banking, and Islamic banking. EBL places great emphasis on innovation and technology by offering digital solutions such as Internet banking, mobile banking, and card services for its customers.
Eastern Bank Limited stands out as an industry leader in social responsibility and sustainability, actively supporting education, health, environment, and community development initiatives in Bangladesh. EBL has won various awards for its corporate social responsibility work, including the esteemed National CSR Award.
Overall, Eastern Bank Limited has built an outstanding reputation as a Bangladesh customer-oriented and socially responsible bank. It has successfully maintained a leading position within Bangladesh’s highly competitive banking sector through innovation, technology, and sustainability initiatives.
5. Standard Chartered Bank (Bangladesh) Limited
Standard Chartered Bank (Bangladesh) Limited is a subsidiary of Standard Chartered Bank and one of the oldest and largest foreign banks in Bangladesh since 1948.
Standard Chartered Bank (Bangladesh) Limited provides its customers with various banking products and services, such as personal, business, and commercial banking. Their vast network of branches and ATMs makes banking convenient for them.
Standard Chartered Bank (Bangladesh) Limited stands out with its emphasis on technology and innovation, offering its customers various digital banking solutions such as online banking, mobile banking, and card services. Furthermore, several initiatives have been introduced by the bank to foster financial inclusion and digital payments within Bangladesh.
Standard Chartered Bank (Bangladesh) Limited stands out as an organization dedicated to corporate social responsibility and sustainability through various initiatives supporting education, health, and environmental conservation in Bangladesh. Standard Chartered has received several accolades for its dedication in this regard, such as the Bangladesh Business Award for Corporate Social Responsibility.
Overall, Standard Chartered Bank (Bangladesh) Limited has earned itself a strong reputation as a customer-focused and socially responsible bank in Bangladesh. Their emphasis on innovation, technology, and sustainability has ensured they maintain a firm footing in Bangladesh’s otherwise fierce banking sector.
4. Dutch-Bangla Bank Limited
Dutch-Bangla Bank Limited is a scheduled commercial bank located in Bangladesh. Established as a public limited company in 1995 and started operations that same year. A joint venture between the Dutch-Bangla Group of Bangladesh and the Commonwealth Development Corporation Group in the Netherlands.
DBBL offers an expansive array of banking and financial products and services, such as personal and business banking, corporate banking, SME banking, and investment banking. Their network consists of over 200 branches with 500 ATM booths, with an employee count totaling over 6,000 employees.
DBBL has earned numerous awards and commendations for its innovative banking products and services, such as “Best Digital Bank” by World Finance for 2018 and 2019. Furthermore, its CSR efforts – particularly within education, healthcare, and disaster relief – have also been recognized with various accolades and awards.
3. BRAC Bank Limited
BRAC Bank Limited was founded in 2001 as one of Bangladesh’s premier private commercial banks and operated worldwide as part of the BRAC Development Organization based in Bangladesh, with locations spanning 10+ countries around the globe and operations spanning numerous time zones worldwide.
BRAC Bank provides an array of banking and financial services, from retail banking, SME banking, corporate banking, and investment banking. BRAC has over 190 branches and over 500 ATM booths in Bangladesh to serve its vast and varied customer base.
BRAC Bank is widely known for its cutting-edge, customer-oriented products and services. As the first bank in Bangladesh to introduce mobile banking and one of the pioneers of digital banking solutions within Bangladesh – offering mobile and digital solutions – BRAC has received multiple accolades and awards, such as being honored as The Asian Banker’s “Best Retail Bank in Bangladesh” in 2020.
BRAC Bank is dedicated to social and environmental responsibility, having implemented numerous initiatives that support sustainable development in Bangladesh. For their efforts in this regard, Bangladesh Bank recently honored them with the “Green Banking Award.”
2. Pubali Bank Limited
Pubali Bank Limited was founded on March 3, 1959, with a modest capital of Tk. 30 million (US$358,209) but now boasts a capital base of Tk. Forty billion (US$474.94 million), offering customers deposit accounts, loans, remittance services, credit cards, and much more across Bangladesh.
Pubali Bank is widely recognized for providing cutting-edge customer-oriented solutions and has won multiple awards and recognition for its contributions to the Bangladeshi banking sector. Most notably in 2019, when they won “Best Commercial Bank in Bangladesh” from London-based financial magazine Global Business Outlook and received “The Asian Banker Award 2019” for retail banking excellence.
1. Islami Bank Bangladesh Limited
Established in 1983, Islamic Bank Bangladesh Limited is an award-winning Shariah-based bank in Bangladesh that offers a range of banking products and services, including deposit accounts, retail banking services, corporate banking solutions for small and midsized enterprises (SME), Treasury services as well as more.
Islami Bank Bangladesh Limited adheres to Islamic banking and finance principles, operating according to Shariah law. A Shariah Supervisory Committee monitors its operations to ensure compliance with Islamic regulations.
Bangladesh Bank enjoys an extensive presence across Bangladesh with over 350 branches spread out across the nation and operations in Malaysia, the UK, and UAE. Over its history, this bank has received multiple accolades and awards, including being named “Best Bank in Bangladesh” by several international financial publications.
These banks provide various financial products and services, from personal to business banking, investment and wealth management, insurance, and financing of major projects. Furthermore, many emphasize digital technology offering mobile banking apps, online banking platforms, and biometric authentication as part of their offerings.
Frequently asked questions:
1. What is the largest bank in Bangladesh by assets?
Ans: As of June 2017, Sonali Bank Limited holds the title of Bangladesh’s leading financial institution by total assets.
2. Which bank in Bangladesh was established first?
Ans: Sonali Bank Limited, founded by the state in 1972, holds this distinction.
3. What Is the Role of Bangladesh’s Central Bank (Bangladesh Bank )?
Ans: The Bangladesh Bank is responsible for formulating and implementing monetary policy, supervising banking sector operations, and overseeing the nation’s foreign exchange reserves.
4. How Many Banks Are Operating in Bangladesh?
Ans: As of 2021, Bangladesh had 60 banks operating, consisting of 9 state-owned banks, 40 private commercial banks, and 11 foreign banks.
5. What Is the Growth Rate of the Banking Sector in Bangladesh?
Ans: Over recent years, Bangladesh’s banking industry has witnessed rapid expansion in recent years, with an average annual compounded growth rate between 2010 and 2020 of 13.5% – driven by factors like rising economic development and financial inclusion initiatives.
