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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.
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:
- Islamic Banks – Commercial banks following Sharia-compliant financial principles.
- Local Private Commercial Banks – Privately owned banks offering modern banking services.
- State-Owned Banks (Public Banks) – Banks owned and operated by the government.
- Foreign Commercial Banks – Banks incorporated abroad but operating in Bangladesh.
- 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.
| Name | Category |
|---|---|
| Islami Somaz Bank Limited | Commercial Bank |
| Al-Arafah Islami Bank Limited | Commercial Bank |
| EXIM Bank Limited | Commercial Bank |
| First Security Islami Bank Limited | Commercial Bank |
| ICB Islamic Bank Limited | Commercial Bank |
| Islami Bank Bangladesh Limited | Commercial Bank |
| Shahjalal Islami Bank Limited | Commercial Bank |
| Social Islami Bank Limited | Commercial Bank |
| Union Bank Limited | Commercial 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.
| Name | Category |
|---|---|
| United Commercial Bank Limited | Commercial Bank |
| NRB Commercial Bank Limited | Commercial Bank |
| AB Bank Limited | Private Bank |
| Bangladesh Commerce Bank Limited | Private Bank |
| Bank Asia Limited | Private Bank |
| Bengal Bank Limited | Private Bank |
| BRAC Bank Limited | Private Bank |
| City Bank Limited | Private Bank |
| Dhaka Bank Limited | Private Bank |
| Dutch-Bangla Bank Limited | Private Bank |
| Eastern Bank Limited | Private Bank |
| IFIC Bank Limited | Private Bank |
| Jamuna Bank Limited | Private Bank |
| Meghna Bank Limited | Private Bank |
| Mercantile Bank Limited | Private Bank |
| Midland Bank | Private 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.
| Name | Category |
|---|---|
| Sonali Bank Ltd. | State Bank |
| Agrani Bank Ltd. | State Bank |
| Rupali Bank Ltd. | State Bank |
| Bangladesh Krishi Bank | State Bank |
| Bangladesh Development Bank Limited | State Bank |
| BASIC Bank Limited | State 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.
| Name | Category |
|---|---|
| Bank Al-Falah Limited | Foreign Bank |
| Citibank N.A | Foreign Bank |
| Commercial Bank of Ceylon PLC | Foreign Bank |
| Habib Bank Limited | Foreign Bank |
| National Bank of Pakistan | Foreign Bank |
| Standard Chartered Bank | Foreign Bank |
| State Bank of India | Foreign Bank |
| Punjab National Bank | Foreign Bank |
| Woori Bank | Foreign Bank |
| HSBC | Foreign 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.
| Name | Category |
|---|---|
| Bangladesh Krishi Bank | Specialized Bank |
| Bangladesh Development Bank Limited | Specialized Bank |
| BASIC Bank Limited | Specialized 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:
- Financial Inclusion: Extending banking services to rural and underserved populations.
- Digital Transformation: Private banks like Dutch-Bangla Bank and BRAC Bank lead the shift to digital platforms.
- Trade Facilitation: Foreign banks like HSBC and Standard Chartered support international trade.
- Development Financing: State-owned banks provide loans for agriculture and small industries.
- 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:
- Non-Performing Loans (NPLs): A significant issue for state-owned banks.
- Regulatory Compliance: Maintaining compliance with international standards is costly.
- 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.
