Pubali Bank Ltd.

Pubali Bank Limited is the largest commercial bank in private sector. It is the successor of the former Eastern Mercantile Bank Limited incorporated in 1959 under the Companies Act 1913. After the independence of Bangladesh in 1971, Eastern Mercantile Bank Ltd was nationalised under Bangladesh Bank's (nationalisation) Ordinance 1971 and was renamed as Pubali Bank. As per Bangladesh Bank's (nationalisation) Amendment Ordinance 1983, the bank was denationalised on 30 June 1983 and giving its original name Pubali Bank Limited. The government of Bangladesh handed over all assets and liabilities of Pubali Bank to Pubali Bank Limited. Since then Pubali Bank Limted has been involved in commercial banking services as the largest bank in the private sector of Bangladesh. The bank is registered and enlisted at dhaka stock exchange and chittagong stock exchange. The main functions of the bank include deposit mobilisation, financing productive activities, conducting foreign exchange business and providing various types of banking services to its customers. The lending were mostly in jute, textile, readymade garments and other large, medium and small scale industries, transport, housing, small and medium enterprise financing, rural and agricultural credit, working capital financing, micro credit, credit to trade and commerce and export-import financing. The management of the bank is vested in a 14-member board of directors with the managing directors as its chief executive. Besides, the three high officers include managing director and CEO, deputy managing director, general manager and consultant. At present, there are four hundred and fifty five branches in different district of Bangladesh. The growth of annual profit of the bank was on average more than 25% in last five years. Pubali Bank achieved DUBLE in Credit Rating based on the review of audited financial report in 2009 conducted by Credit Rating Agency of Bangladesh.