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List of Banks in Bangladesh

The List of Banks in Bangladesh includes 61 institutions categorized into private, public, foreign, and specialized banks. These banks provide diverse financial services, fostering economic growth, digital innovation, and financial inclusion across the nation’s urban and rural areas.

Bangladesh’s banking sector is a cornerstone of its economy, playing a vital role in the financial inclusion and growth of individuals, businesses, and industries. With 61 banks operating across the country, they are divided into various categories, including commercial, state-owned, foreign, and specialized banks.

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In this detailed article, we will explore the List of Banks in Bangladesh, highlighting their roles, categories, and importance in the nation’s financial framework.


Understanding the Banking Landscape in Bangladesh

Banks in Bangladesh are categorized based on their ownership, operational focus, and service structures. These categories include:

  1. Islamic Banks – Commercial banks following Sharia-compliant financial principles.
  2. Local Private Commercial Banks – Privately owned banks offering modern banking services.
  3. State-Owned Banks (Public Banks) – Banks owned and operated by the government.
  4. Foreign Commercial Banks – Banks incorporated abroad but operating in Bangladesh.
  5. Specialized Banks – Institutions focusing on specific sectors like agriculture or development.

The banking sector facilitates savings, investment, trade, and economic development. Below, we provide a comprehensive List of Banks in Bangladesh, organized by type and function.


List of Banks in Bangladesh (2024)

Islamic Banks in Bangladesh

Islamic banks operate based on Islamic principles, avoiding interest and focusing on profit-sharing mechanisms.

NameCategory
Islami Somaz Bank LimitedCommercial Bank
Al-Arafah Islami Bank LimitedCommercial Bank
EXIM Bank LimitedCommercial Bank
First Security Islami Bank LimitedCommercial Bank
ICB Islamic Bank LimitedCommercial Bank
Islami Bank Bangladesh LimitedCommercial Bank
Shahjalal Islami Bank LimitedCommercial Bank
Social Islami Bank LimitedCommercial Bank
Union Bank LimitedCommercial Bank

These banks serve millions of customers, providing Sharia-compliant loans, savings schemes, and financial services.


Local Private Commercial Banks

Private banks dominate Bangladesh’s financial market, offering diverse products such as savings accounts, personal loans, and advanced digital banking services.

NameCategory
United Commercial Bank LimitedCommercial Bank
NRB Commercial Bank LimitedCommercial Bank
AB Bank LimitedPrivate Bank
Bangladesh Commerce Bank LimitedPrivate Bank
Bank Asia LimitedPrivate Bank
Bengal Bank LimitedPrivate Bank
BRAC Bank LimitedPrivate Bank
City Bank LimitedPrivate Bank
Dhaka Bank LimitedPrivate Bank
Dutch-Bangla Bank LimitedPrivate Bank
Eastern Bank LimitedPrivate Bank
IFIC Bank LimitedPrivate Bank
Jamuna Bank LimitedPrivate Bank
Meghna Bank LimitedPrivate Bank
Mercantile Bank LimitedPrivate Bank
Midland BankPrivate Bank

Local banks have shown remarkable growth in terms of technology adoption and customer-centric services.


Sorkari Bank List (Public Banks)

State banks are essential for implementing government policies and providing financial inclusion for underserved sectors.

NameCategory
Sonali Bank Ltd.State Bank
Agrani Bank Ltd.State Bank
Rupali Bank Ltd.State Bank
Bangladesh Krishi BankState Bank
Bangladesh Development Bank LimitedState Bank
BASIC Bank LimitedState Bank

These banks often focus on agricultural loans, rural development, and poverty alleviation.


Foreign Commercial Banks

Foreign banks bring international expertise and often focus on trade finance, corporate banking, and high-net-worth clients.

NameCategory
Bank Al-Falah LimitedForeign Bank
Citibank N.AForeign Bank
Commercial Bank of Ceylon PLCForeign Bank
Habib Bank LimitedForeign Bank
National Bank of PakistanForeign Bank
Standard Chartered BankForeign Bank
State Bank of IndiaForeign Bank
Punjab National BankForeign Bank
Woori BankForeign Bank
HSBCForeign Bank

Foreign banks offer robust services for expatriates, multinational corporations, and cross-border transactions.


Specialized Banks in Bangladesh

Specialized banks cater to niche sectors like agriculture, industry, and rural development.

NameCategory
Bangladesh Krishi BankSpecialized Bank
Bangladesh Development Bank LimitedSpecialized Bank
BASIC Bank LimitedSpecialized Bank

These banks play a crucial role in fostering economic growth in underdeveloped areas.


Key Functions of Banks in Bangladesh

Banks in Bangladesh serve various purposes, including:

  1. Financial Inclusion: Extending banking services to rural and underserved populations.
  2. Digital Transformation: Private banks like Dutch-Bangla Bank and BRAC Bank lead the shift to digital platforms.
  3. Trade Facilitation: Foreign banks like HSBC and Standard Chartered support international trade.
  4. Development Financing: State-owned banks provide loans for agriculture and small industries.
  5. Corporate Banking: Local and foreign banks offer tailored services for businesses.

The Role of Technology in Banking

With the rise of fintech, banks are increasingly adopting online platforms. Services like mobile banking, ATMs, and e-wallets are becoming mainstream, making banking more accessible and efficient. Banks like Dutch-Bangla Bank have pioneered digital services, setting benchmarks for others.


Challenges Faced by the Banking Sector

Despite its growth, the banking industry faces several challenges:

  1. Non-Performing Loans (NPLs): A significant issue for state-owned banks.
  2. Regulatory Compliance: Maintaining compliance with international standards is costly.
  3. Cybersecurity Threats: As digital banking grows, so do risks of cyberattacks.

Future of Banking in Bangladesh

The future of banking in Bangladesh looks promising. With increasing adoption of technology, customer-centric innovations, and regulatory reforms, the sector is set to achieve significant growth. The government’s push for financial inclusion ensures that more people will have access to banking services.


Conclusion

The List of Banks in Bangladesh is diverse, catering to various segments of the population and businesses. From Islamic and state-owned banks to foreign and private commercial banks, the sector is integral to the nation’s financial stability and development.

By embracing technology, focusing on customer needs, and addressing challenges like NPLs, the banking industry in Bangladesh will continue to grow, fostering economic prosperity for years to come.

This detailed guide not only highlights the List of Banks in Bangladesh but also sheds light on their operations, challenges, and contributions to the economy. Whether you’re a customer, investor, or policy-maker, understanding this landscape is essential for making informed decisions.

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