Pubali Bank Limited
Pubali Bank limited was the outcome of some visionary peoples’ endeavor to rise even under the autocratic rule of Pakistan. In 1959 some courageous men decided to establish a commercial bank owned by Bengali persons alone and as a result Eastern Mercantile Bank came into reality in the then East Pakistan. After liberation in 1972 the bank was nationalized in the name Pubali Bank as the Government policy was such. As a result of change in policy of the Government in 1983 it was denationalized and renamed as Pubali Bank limited. Since then the bank is serving people as the largest private bank of the country.
Pubali Bank limited provides all banking services to the people as a commercial bank. In a nut shell PBL provides the following:
- Deposit Service
- Loan & Advances
Deposit services include Savings Bank account, Current account, Fixed deposit account, Short term deposit account, Pension account and Foreign currency account. Savings and current accounts are very common for all commercial banks. Fixed deposit account is naturally targeted to idle money of elderly people. Pubali Bank limited provides handsome interest to the account holders in return.
Short term account is another version of fixed deposit account. People who like to keep the money for a shorter period and earn some interest are addressed here with a better than savings account but less than fixed deposits interest.
Pension account delivers a monthly earning to the senior people of the society against a cumulative easy deposit made by them on a regular basis. So it’s a very appreciable step of Pubali Bank.
Foreign currency account is for a section of people who are working abroad and earning valuable foreign currency for the country. More over the foreigners who are working here are also entitled for the type of account.
Loans and Advances
Pubali Bank offers a good number of admirable schemes in this field of banking. Micro credit is one of them. Micro credit is a burning issue of the time. Mass people still beyond poverty level are addressed in
this scheme. A lot of NGOs are engaged in the field. As the largest private bank of the country PBL can’t stay aside. It’s now well involved in this sector.
In a third world country like ours, SME sector is one of the most promising sectors of economic activities. Thousands of SME entrepreneurs are working hard for survival and at the same time creating employment for others. So it deserves proper nourishment and PBL is correctly doing that.
Even in the Global recession Bangladesh is advancing forward with industrialization. Young and energetic entrepreneurs are coming forward with innovative ideas. They need fund to execute their projects. PBL is always beside the really deserving candidates.
Installation of an industry is not enough for industrialization. You have to run the factory at the full capacity and then only it can be evaluated. A new industry needs a big amount as its working capital. PBL arranges working capital for promising industries.
Pubali Bank serves expatriate Bangladeshis through its Remittance service. Hard earned foreign exchange of these people is collected through legal channel and thus the country is benefitted.
Pubali Bank performs all other banking activities in this sector for its clients. In addition it provides Consumer Loan and House Building loan for deserving people.
Pubali Bank limited provides miscellaneous services like collection of utility bills, clearing of checks, Instrument collection, Locker service and ATM card services to its valued customers.
Among the private banks, Pubali Bank has the most extensive network all over the country. It has 400 branches in total connecting all economic growth centers and commercially promising localities of the country. As the first local bank of the country PBL is effectively serving the nation since its very inception and it’s still carrying out the responsibility very efficiently.