Monday, 23 May, 2022

Sonali Bank posts over Tk 22bn operating profit in 2021

  • Staff Correspondent
  • 21 January, 2022 12:00 AM
  • Print news

Operating profit of the country’s largest state-run commercial bank Sonali Bank rose to  Tk 22.05 billion in calendar year 2021 from Tk 21.53 billion in 2020. 

At the same time, the classified loan of the bank also came down to 14.14 percent at the end of 2021, which was 4.23 percentage points less than that of the previous year, according to the data of the bank.

The bank’s CEO and Managing Director Md Ataur Rahman Prodhan told reporters at his office on Thursday that his main objective is to bring the classified loan to single digit by end of year 2022.

“We have been working hard even in the pandemic to reduce the burden of the classified loan and we have succeeded to some extent. If all our plans work well, we will be able to reduce it to a single digit by end of this year,” a Sonali Bank release quoted him as saying. 

“Providing world class service is our first priority,” he commented.  The loans and advances of the bank increased to Tk 693.17 billion last year, up by Tk 106.94 billion than that in the previous year, the bank data showed.

Meanwhile, the bank's deposits jumped into Tk 1343.07 billion, the highest deposit among all banks in the country, Ataur informed. 

“The bank has attained a satisfactory operating profit in the outgoing year amid a slower growth both in foreign trade as well as in private sector credit due to the coronavirus pandemic,” the bank Chairman Ziaul Hasain Siddiqui said.

Sonali Bank’s achievement is the output of the efforts of its hardworking officers and employees’ working in the field level across the country, the chairman added.

The number of losing branches has also come down to 16 at the end of 2021 from 29 in the previous year.  The state-run bank has advance and deposit ratio is 51:61 at the end of 2021. It was 46:57 in the previous year, the data showed. The bank has 1227 branches across the country, besides it has more two overseas branches-- one in Kolkata and the other in Shiliguri in India. M

Moreover, the bank’s subsidiary company, Sonali Exchange Company also made a profit of one million USD in the last year, the bank said.