Best Banks in Bangladesh 2023
Saving money is a common desire for most individuals, and they want to entrust their hard-earned money to an organization that they can rely on. The most reliable financial institution for this purpose is the bank, which is considered the safest and most trusted place to protect people’s assets, capital, and valuable items such as jewelry. Banks are financial institutions that collect people’s money and keep it safe, while also investing it to earn returns. In Bangladesh, the government has gained people’s trust by taking strict measures to regulate and control the banking sector. According to the Bangladesh Bank (BB), which is the central bank of Bangladesh, there are two main types of banks in the country: scheduled and non-scheduled banks. There are currently 60 scheduled banks and 5 non-scheduled banks operating under the complete supervision and control of the BB.
Scheduled banks are those that have been included in the Second Schedule of the Bangladesh Bank Order, 1972. These banks are authorized to operate banking business and are subject to regulatory oversight by the BB. They are also required to maintain a certain level of reserve with the central bank and follow other regulations and guidelines. Non-scheduled banks, on the other hand, are not included in the Second Schedule of the Bangladesh Bank Order, 1972. They are not authorized to operate banking business and are not subject to the same regulatory oversight as scheduled banks. However, they are still required to follow certain rules and regulations set by the BB.
Top Banks in Bangladesh
Bangladesh has a vibrant and diverse banking sector, with several top banks operating in the country. These banks offer a wide range of financial products and services to individuals, businesses, and other organizations. One of the top banks in Bangladesh is the Islami Bank Bangladesh Limited, which was the first Islamic bank to be established in the country. It offers a range of Shariah-compliant financial products and services to customers. Another major player in the banking sector is Sonali Bank Limited, which is a state-owned commercial bank and is one of the largest banks in Bangladesh. Agrani Bank Limited is another state-owned commercial bank that offers a range of banking products and services to customers. Additionally, Standard Chartered Bank Bangladesh is a popular foreign bank that operates in Bangladesh and provides various financial services to individuals and businesses. Overall, the top banks in Bangladesh are known for their reliability, stability, and commitment to providing high-quality services to their customers.
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Top 10 Banks in Bangladesh 2023
We provided you with the top 10 banks in Bangladesh in the table below:
S.No. |
Name of the Bank |
Founded in |
|
1 |
Sonali Bank Limited |
1972 |
|
2 |
Islami Bank Bangladesh Limited (IBBL) |
1983 |
|
3 |
Dutch-Bangla Bank Limited (DBBL) |
1996 |
|
4 |
Eastern Bank Limited (EBBL) |
1992 |
|
5 |
Standard Chartered Bangladesh |
1948 |
|
6 |
HSBC Bank Bangladesh |
1996 |
|
7 |
BRAC Bank Limited |
2001 |
|
8 |
Pubali Bank Limited (PBL) |
1959 |
|
9 |
Grameen Bank |
1983 |
|
10 |
Janata Bank Limited (JBL) |
1972 |
1. Sonali Bank Limited
Sonali Bank Limited, founded in 1972, is the largest commercial bank in Bangladesh according to the “Nationalization Order 1972.” It is a government state-funded bank that has earned the trust and confidence of people from both urban and rural areas in Bangladesh, surpassing public and private banks in the country. Currently, Sonali Bank has a vast network of 1225 branches, serving customers not only in the country but also abroad. It has a total of 18167 officers and employees who provide various financial services to customers. Apart from providing financial services, Sonali Bank Limited is also involved in various social activities. It facilitates pension and retirement payment for both private and public officers, and it also collects service organization bills, among other things. The bank supports economic activities in the country by developing trade and commerce, which contributes to the overall growth of the economy. Through its services, Sonali Bank plays a significant role in supporting the financial needs of individuals and businesses, contributing to the development and prosperity of Bangladesh.
2. Islami Bank Bangladesh Limited (IBBL)
For those seeking to deposit money in compliance with Islamic Sharia, the first-tier bank of choice in Bangladesh would be Islami Bank Bangladesh Limited (IBBL). Founded on March 13, 1983, in accordance with the Public Limited Company Act 1913, IBBL is known as the democratic bank of Bangladesh. As a commercial bank, it offers a variety of Shariah-compliant financial products and services to customers. One of the unique features of IBBL is their home requirement services which makes opening an account with them easy and convenient. Over the years, IBBL has received numerous accolades for their excellent services. In 1999, they were awarded the title of the best bank in Bangladesh and in 2000, they were recognized as the excellent banking institution in the country. With its focus on providing Shariah-compliant financial services and its commitment to excellence, IBBL has become a trusted and reliable bank for those seeking to adhere to Islamic financial principles.
3. Dutch-Bangla Bank Limited (DBBL)
Dutch Bangla Bank Limited (DBBL), also known as the best service provider bank in Bangladesh, boasts the largest network of branches across the country, from Teknaf to Tetulia. It is a non-governmental state-funded bank and was established in 1996 by M Sahabuddin Ahmed. DBBL is also the largest donor bank among all banks in Bangladesh. What sets DBBL apart from other banks in Bangladesh is that it was the first to introduce mobile banking services in the country, making banking more accessible and convenient for customers. Anyone in Bangladesh can easily open an account with DBBL through their mobile banking services. DBBL is committed to providing top-notch services to its customers, with a focus on innovation and technological advancements. With its extensive network, innovative mobile banking services, and commitment to excellence, DBBL has earned a reputation as one of the most reliable and trusted banks in Bangladesh.
4. Eastern Bank Limited (EBBL)
Eastern Bank Limited (EBL) is a prominent private commercial bank in Bangladesh that offers a range of financial services to its customers. Established in 1992 under the Bank Companies Act of 1991 as BCCI, it was later renamed Eastern Bank Limited. The bank’s headquarters is located in Dhaka, Bangladesh, and it has a SWIFT code of EBLDBDDH. EBL provides a variety of banking services, including SME banking, financial retail banking, and green banking, among others. Their focus on green banking demonstrates their commitment to sustainability and environmental responsibility. Additionally, EBL is known for its innovative and customer-centric approach to banking, with a range of modern products and services designed to meet the evolving needs of its customers. With its dedication to excellence, EBL has become one of the leading private commercial banks in Bangladesh, offering reliable and high-quality services to individuals and businesses across the country.
5. Standard Chartered Bangladesh
Standard Chartered Bank is a multinational commercial bank that operates in Bangladesh, among other countries. Founded in 1948 as a service company in the financial and banking sectors, it began its operations in Bangladesh from Chittagong. While the bank’s head office is located in London, it has developed its facilities worldwide. As the oldest international and largest bank in Bangladesh, Standard Chartered Bank has established itself as a trusted and reliable financial institution. The bank was formed through a merger of Standard Bank and Chartered Bank, two respected and established financial institutions. Today, Standard Chartered Bank offers a range of services to its customers in Bangladesh, including retail banking, corporate and institutional banking, and wealth management. With its commitment to excellence, global reach, and long-standing reputation, Standard Chartered Bank continues to be a leading player in the financial industry both in Bangladesh and around the world.
6. HSBC Bank Bangladesh
HSBC, which stands for Hong Kong and Shanghai Banking Corporation Limited, is a non-governmental commercial bank that operates in Bangladesh. As the largest financial service provider worldwide, it is a multinational financial agency with numerous branches in many countries. Due to its global presence, HSBC Bank is an excellent choice for Bangladeshi people looking to maintain international transactions. With a range of services including retail banking, wealth management, and investment banking, HSBC is committed to providing its customers with comprehensive financial solutions. In Bangladesh, HSBC Bank has established itself as a reliable and trusted financial institution. Its commitment to excellence and its extensive experience in the financial industry make it a top choice for individuals and businesses alike. With its global reach and expertise, HSBC Bank is well-positioned to continue to play a leading role in the banking sector in Bangladesh and around the world.
7. BRAC Bank Limited
BRAC Bank is a renowned non-governmental commercial bank in Bangladesh. It was founded by Sir Fazle Hasan Abed and has been serving Bangladeshi people for a long time. One of the bank’s main focuses is on small and medium-sized enterprises (SMEs), providing them with specialized financial services to support their growth. With a commitment to social responsibility, BRAC Bank has played an important role in promoting financial inclusion and supporting sustainable economic development in Bangladesh. The bank is also recognized for its innovative products and services, including mobile banking, internet banking, and other digital solutions. The SWIFT code for BRAC Bank is BRAKBDDH, which is essential for international transactions. This code helps to identify the bank and ensure that funds are transferred quickly and securely. With its commitment to customer service and innovative financial solutions, BRAC Bank has established itself as a leading player in the banking industry in Bangladesh.
8. Pubali Bank Limited (PBL)
Pubali Bank Limited (PBL) is a well-known private commercial bank in Bangladesh that operates throughout the country. The bank was established in 1959 and was later nationalized in 1972, after Bangladesh gained independence. Currently, the bank is under private ownership, with Habibur Rahman serving as the chairman. PBL has an extensive network of branches across 32 districts in Bangladesh, providing a range of financial services to its customers. The bank has been playing a significant role in the country’s economic development by offering various loan facilities to entrepreneurs, supporting small and medium enterprises, and financing various infrastructure projects. With a committed team of professionals and advanced technology, PBL is continuously striving to improve its service quality and expand its reach.
9. Grameen Bank
Grameen Bank is a well-known microfinance organization and one of the largest community development banks in Bangladesh. This bank was founded in 1983 by Professor Muhammad Yunus, who is considered the father of microfinance. Grameen Bank’s main objective is to provide microcredit and loans to the poor people of Bangladesh, especially those who do not have access to traditional banking services. The bank has a unique system of lending, where it provides small loans to individuals who lack collateral or a credit history, and focuses on social development and poverty alleviation. Grameen Bank has been successful in improving the lives of millions of people in Bangladesh, and its model has been replicated in other countries around the world. In recognition of its efforts, Grameen Bank was awarded the Nobel Peace Prize in 2006.
10. Janata Bank Limited (JBL)
Janata Bank Limited, commonly known as JBL, is a state-owned commercial bank that is one of the largest and oldest banks in Bangladesh. It was established in 1971 after the independence of Bangladesh, with the vision of providing banking services to the people of the country. Janata Bank Limited has a vast network of 844 branches located all over the country, as well as four branches in the United Arab Emirates, making it easily accessible to the people. JBL offers a range of services, including consumer banking, corporate banking, investment banking, and many more. The bank’s services are designed to cater to the diverse needs of its customers. Janata Bank Limited has always been committed to providing the best possible banking services to its customers while maintaining the highest standards of professionalism and ethics. The bank has a highly skilled and experienced workforce, with a total of over 12,000 employees working to provide excellent service to its customers. With its strong commitment to innovation, customer satisfaction, and social responsibility, Janata Bank Limited has become a trusted name in the banking sector of Bangladesh.
What is the Best Bank in Bangladesh?
Sonali Bank Limited is the largest state-owned commercial bank in Bangladesh, established in 1972 under the “Nationalization Order 1972”. With its headquarters in Dhaka, Sonali Bank has a widespread network of 1225 branches across the country and overseas, making it one of the most accessible banks for customers. The bank has a strong reputation for providing reliable and efficient banking services, catering to the needs of both urban and rural customers. Its services include savings and deposit accounts, loans, online banking, remittance, foreign exchange, credit cards, and more. Sonali Bank Limited has a skilled workforce of over 18,000 employees, including officers and support staff, who work tirelessly to provide quality customer service. The bank also provides various social services, such as pension and retirement payment services to both private and public officers, collection of service organization bills, and support for economic activities in the country. Overall, Sonali Bank Limited plays a vital role in the country’s economic development and growth, and its continuous efforts to provide innovative banking solutions have made it one of the most trusted and reliable banks in Bangladesh.
Top 10 Banks in Bangladesh 2022
We have provided the list of the top 10 bank in Bangladesh in 2022:
S.No. |
Name of the Bank |
|
1 |
Standard Chartered Bank |
|
2 |
City Bank Limited |
|
3 |
BRAC Bank Limited |
|
4 |
Mutual Trust Bank Limited |
|
5 |
Sonali Bank Limited |
|
6 |
Islami Bank Bangladesh Ltd |
|
7 |
Agrani Bank Limited |
|
8 |
Pubali Bank Limited |
|
9 |
Al-ArafahIslami Bank Limited |
|
10 |
Bank Asia Limited |
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Source: pagasa.edu.vn