Sonali Bank PLC has announced a significant operating profit of Tk5,634 crore despite 2024 being a challenging year for the banking sector.
The bank marked a Tk1,788 crore increase in operating profit compared to the previous year, according to a statement issued by the bank.
A bank's operating income is the total income it generates from its operations. It is the sum of net interest income and non-interest income.
Sonali Bank's deposit amount stood at Tk164,959 crore at the end of December 2024, an increase of Tk14,341 crore from the previous year.
“Despite political instability and adverse business conditions, Sonali Bank achieved significant operating profit," Sonali Bank Managing Director Shawkat Ali Khan said in a media briefing on Thursday.
"Our goal for 2025 is to move 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. We will further enrich our digital banking services," he added.
The Sonali Bank MD also said the bank had Tk2,500 crore in provisions taken from the central bank at the beginning of 2024, and they are hoping to adjust a large portion of this with the operating profit earned in the year.
Regarding Sonali Bank’s loan portfolio, the bank stated that it reached Tk99,180 crore in December 2024.
The bank's advance deposit ratio stands at 60%.
Shawkat said Sonali Bank recovered Tk1,170 crore from non-performing loans and Tk59 crore from classified loans in 2024.
Regarding loan defaulters, he said: "We are taking legal action as per the central bank's circular to recover loans from major defaulters like Hall-Mark and TM Brothers Group. A large company like Beximco has become a defaulter, but their Shinepukur [Ceramics Ltd] company is in good condition."
Discussing plans for 2025, Sonali Bank MD focused on improving services and supporting economic growth.
