Sonali Bank earned a record profit of Taka 15.04 billion in 2011, topping the list of state-owned commercial bank.

The amount was Taka 4.02 billion of 36.48 percent higher than that in the previous year.

“As a largest commercial bank of the country, Sonali Bank has set a new record of profit in every indicator such as expansion of business, loan, realisation of classified loan, external trade growth and expansion of branches,” Md. Humayun Kabir, managing director and chief executive officer (CEO) of the Bank said.

The Bank made remarkable progress in various fields with joint efforts of the present board of directors and employees, Kabir observed.

Official figure showed, the investment made by the Bank has increased by 23.52 per cent to Tk 138.02 billion in 2011 from Tk 111.74 billion in 2010.

Besides, the growth rate in import and export activities through the Bank was 88.12 per cent and 6.50 per cent respectively, as the Bank financed Tk 308.50 billion in imports and Tk 78.95 billion in exports, he added.

In 2011, the Bank reduced its classified loan by 16.98 percent, which stands at Tk 57.61 billion now from Tk 68.31 billion in 2010.

On the other hand, the Bank recovered Tk 21.83 billion classified loans in 2011, while it was Tk 13.48 billion in 2010.

In addition, the Bank’s capital has witnessed a sharp rise to Tk 516.93 billion, although it was Tk 478.13 billion in 2010.

The bank has set up the largest network across the country with 1,196 branches. Of them, 853 are in villages, 341 in towns and cities, and the rest two are foreign exchange branches, Humayun Kabir said.

The number of profit making branches increased to 1,129 in 2011 against 1,096 in 2010, while that of loss incurring ones reduced to 65 from 95 in 2011.

A total of 2,248,591 farmers opened accounts with the Bank by Tk 10 in 2011, while that was 60,480 accounts for freedom fighters and 441,968 for handicapped, elderly and widow.

The Bank is providing 25 kinds of services like payment of utility bill, pension, salary, elderly allowance, freedom fighters’ allowance, handicapped allowance and hajj fees.

Kabir said the success attained by the Bank even after the world economic downturn will definitely encourage us to move forward in the days ahead.

The Daily Sun/Bangladesh/ 12th Jan 2012