Bangladesh Bank (BB) Governor Dr Ahsan H Mansur -File photo

DHAKA, Feb 02 (BSS) – Bangladesh Bank (BB) Governor Dr Ahsan H Mansur has called for a fundamental transformation of Sonali Bank PLC, urging the state-owned giant to transition into a truly commercialized and profit-oriented institution to navigate the current economic landscape. 

“While Sonali Bank has traditionally held a dominant position, it must now evolve to meet 100% of its capital requirements and regulatory standards independently,” he said while speaking at the annual conference of Sonali Bank held at a convention centre in the city. 

In his speech, the Governor outlined a vision for Sonali Bank to function as a wholesale bank or a 360-degree bank, offering a comprehensive range of financial services. 

He noted that while the bank has made strides, its current commercial operations are only partial and must become fully profit-driven to ensure future sustainability. 

He specifically tasked the bank with fulfilling all capital and professional requirements to secure its long-term success.

The governor highlighted that field-level officials are the primary stakeholders responsible for identifying correct customers to prevent loans from becoming non-performing. 

He urged a shift in focus toward productive sectors, including ultra-micro, small, and medium enterprises (SMEs), rather than solely focusing on large-scale borrowers,.

Reflecting on recent financial challenges, the Governor praised Sonali Bank for its resilience during the global dollar crisis, noting that it had provided liquidity support to other banks when they were unable to secure funds elsewhere. 

To further strengthen the national economy, he directed the bank to enhance remittance inflows and improve export performance; expand the debit card business and digital service distribution and increase income through export-import commissions and diverse collection services.

The Governor acknowledged that the government had previously imposed restrictions on lending due to recovery concerns. 

However, he advocated for a cautious yet brave approach to identifying new investment sectors to ensure that the bank's achievements are sustainable and not lost. 

In his closing remarks, the Governor called upon the bank’s leadership and staff to work with integrity and dedication. 

He expressed his hope that every employee would take pride in serving at such a prestigious institution, aiming to elevate Sonali Bank to a higher level by the end of their careers.