Table of Contents
Introduction
When discussing the banking system in Bangladesh, there are several large banks that have established themselves as the leading banks in the industry. These banks, apart from having a significant share in the growth of the economy of the country, have also been able to build a strong base of customers. In this article, we will uncover the top 10 banks in Bangladesh, explain a little about each of them and what makes them special, their accomplishments, and the strategies that lead to their success.
1. Dutch-Bangla Bank Limited.
Dutch-Bangla Bank Limited, or DBBL for short, is one of the leading banks in Bangladesh that has come up with several novel products and services. Established in 1995 by both local and foreign investors, DBBL has been the first bank to introduce technology based banking in the country including mobile and internet banking. In terms of both profitability and service quality, DBBL usually falls among the very best in terms of customers’ satisfaction.
2. Islami Bank Bangladesh Limited
Islami Bank Bangladesh Limited (IBBL) is the biggest Islamic bank in Bangladesh and is the leading bank in introducing Islamic banking system in the country. Established in 1983, IBBL operates its operations according to the Shariah principles and provides Islamic banking services. The bank has an excellent international footprint with its branches and subsidiaries in various countries. ICBD has received many awards for its effort in the development of Islamic banking industry.
3. BRAC Bank Limited
BRAC Bank Limited is a private commercial bank that started its operation with a specific focus on providing financial services to the SME sector. This bank has been doing business since 2001 and has been a leading bank in the SME segment, providing them with financial solutions and advisory services. Besides that, BRAC Bank has many programs for financial services to the unbanked population in the rural areas. They have shown great commitment to sustainable banking and have therefore been recognized.
4. Standard Chartered Bank Bangladesh
As a branch of the global financial group, Standard Chartered, the Standard Chartered Bank Bangladesh has been operating in the country for more than a century. It is one of the most reputable financial institutions that provides a wide range of banking and financial services to its individual and corporate customers. The bank is characterized by its high level of risk management and has made a great impact in the development of the banking sector in Bangladesh.
5. Eastern Bank Limited
Eastern Bank Limited (EBL) is one of the oldest and most prestigious private commercial banks in Bangladesh. Founded in 1992, EBL is always among the top banks in terms of profitability and customers’ satisfaction. It provides retail, corporate and SME banking services. EBL is known for having strong corporate governance and for its social responsibility initiatives.
6. National Bank Limited
National Bank Limited (NBL) has come a long way since it was established in 1983. In order to meet the changing needs of its customers, NBL has increased its branch network and offered new products and services. They provide retail and corporate banking, treasury operations and are recognized for their financial soundness and role in the development of the banking sector in Bangladesh.
7. Prime Bank Limited
Prime Bank Limited, a private commercial bank, was established in 1995 and provides all kinds of banking services such as retail banking, corporate banking, and SME banking. Earlier, Prime Bank has received several awards for its excellent customer service and for its effort in the development of the banking sector of the country for introducing new and innovative banking services like internet and mobile banking.
8. Pubali Bank Limited
Established in 1959, Pubali Bank Limited is one of the biggest and the oldest commercial banks in the country. It provides retail, corporate and SME banking and has a large branch and ATM network in the cities and towns as well as the villages. Pubali Bank has also maintained a good financial performance and has been a major player in the development of the banking sector.
9. Sonali Bank Limited
Sonali Bank Limited was founded in 1972 and is the state owned commercial bank that is the biggest bank in Bangladesh. It is not only one of the biggest banks in the banking sector, but also in the economy. Sonali Bank offers a number of banking services for retail and corporate customers, with a large number of branches and ATMs to choose from. The viability of this bank has not only been felt in the financial sector but also in the economy.
10. Agrani Bank Limited
Agrani Bank Limited is another state-owned commercial bank in Bangladesh that was established in 1972. The bank offers a comprehensive range of banking products and services, including retail banking, corporate banking, and SME banking. Agrani Bank has a strong presence in rural areas, with a network of branches and sub-branches. The bank has been recognized for its contribution to agricultural financing and its support for rural development.
Summary
The banks mentioned above are very important in the growth of the economy of Bangladesh. Their operations do not only provide financial support to the people and organizations but also enhance the strength and sustainability of the banking system of the country. These banks have come up with new products, have sound risk management policies, and have a high level of customer satisfaction. In the process of development, these institutions are most definitely major players in the development of the banking sector of Bangladesh.
