TDS Desk

Sonali Bank Managing Director Shawkat Ali Khan said that despite 2024 being a challenging year for the banking sector, the institution has achieved significant growth.

“Despite political instability and adverse business conditions, Sonali Bank achieved significant operating profit. In 2024, our operating profit reached Tk5,634 crore, which is Tk1,788 crore higher than the previous year,” he said at a media briefing on Thursday (January 02).

The bank’s deposit amount stood at Tk1,64,959 crore at the end of December 2024, reflecting an increase of Tk14,341 crore from the previous year.

Its loan portfolio reached Tk99,180 crore, though the outstanding figure saw a slight decrease due to adjustments of loans from government institutions towards year-end. The bank’s advance deposit ratio now stands at 60%.

Shawkat also noted that Sonali Bank recovered Tk1,170 crore from non-performing loans and Tk59 crore from classified loans in 2024.

He said, “We are taking legal action as per the central bank’s circular to recover loans from major defaulters like Hallmark and TM Brothers Group.”

Regarding other defaulters, he added, “A large company of Beximco has become a defaulter, but their Shinepukur [Ceramics Ltd] company is in good condition.”

Discussing plans for 2025, Shawkat stressed improving services and supporting economic growth.

“Our goal for 2025 is to move forward towards prosperity through trust and service. We aim to recover loans from defaulting customers and lend to good sectors. We have special plans for SMEs and export growth and will further enrich our digital banking services,” he said.

He also mentioned that Sonali Bank had Tk2,500 crore in provisions taken from the central bank at the beginning of 2024.

“We hope to adjust a large portion of this with the operating profit earned in 2024,” he concluded.