Business

Sonali bank earns record operating profit of Tk 2,205 cr in 2021

Classified loan ratio to be reduced to single digit by end of 2022: Ataur Rahman Prodhan


Published : 04 Jan 2022 08:21 PM

Sonali Bank Limited, country’s largest state-owned commercial bank, made a record operating profit of Tk 2,205 crore in year 2021. 

The bank earned a operating profit of Taka 2,153 crore in year 2020. According to the data of the bank, the classified loan of the bank also came down to 14.14 percent at the end of 2021, 4.23% less than the previous year. 

Talking to newsmen at his office, Bank’s CEO and Managing Director Md. Ataur Rahman Prodhan said that his main objective is to bring the classified loan to single digit by end of year 2022. “We have been working hard even in the pandemic to reduce the burden of the classified loan and we have succeeded to some extent. If all our plans work well, we will be able to reduce it to a single digit by end of this year.” 

He said that providing world class service is our first priority.  The bank’s data provi­ded also shows that the loans and advances of the bank has also increased to Tk 69,317 crore, up by Tk 10,694 crore than in the previous year. 

The bank's deposits jumped into Tk 134307 crore, highest deposit among all banks in the country, he added. The bank has attained a satisfactory operating profit in the outgoing year amid a slower growth both in foreign trade as well as in private sector credit due to the coronavirus pandemic, the bank chairman Ziaul Hasain Siddiqui said.

Sonali Bank’s achievement is the output of the efforts of its hardworking officers and employees’ working in the field level across the country, the chairman added. 

The number of loss branches has also come down to 16 at the end of 2021, 13 less than previous year, the bank data confirms that Sonali Bank’s has advance and deposit ratio is 51.61 at the end of 2021, it was 46.57 in the previous year, the 

data shows.